IS this the letter to send to tell pdl acct closed ...
Date: Thu, 09/25/2008 - 05:59
Do i leave it like this, fill in the blanks of course, do i add information here as to how much the loan was for, how much ive pd and arrangement i want to make. Please help me out as to when to do this information and how to go about it.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Date:
Name Of PDL
Your Name
City, State
Account #
After doing research regarding Internet payday loan laws in the State of _______, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of _____ in general:
Michigan State Information
Legal Status: Legal
Citation:
Mich. Comp. Laws 487.2121 et seq.
Loan Terms:
Maximum Loan Amount: $600
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of first $100, 14% of second $100, 13% of third $100, 12% of fourth $100, 11% of fifth $100, 11% of sixth $100 + any database verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One with licensee or more than one with any other licensee
Rollovers Permitted: None (cannot renew; lender may extend only if it does not charge a fee)
Cooling-off Period:
Repayment Plan: Yes
Collection Limits:
Collection Fees: One $25 returned check charge
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Michigan Office of Financial and Insurance Services
Address: P.O. Box 30220 Lansing MI 48909
Phone: (877) 999-6442
Fax: (517) 335-4978
I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.
I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.
Due to the fact that Internet payday loans must be licensed in the state of ____ to be a legal and binding contract, your company should NOT issue loans to ____ residents at all. I am requesting that you send me your license number which enables you to offer loans to ____ residents.
The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.
I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the ____ Attorney General's Office.
I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.
Sincerely,
Your Name
CC:
Better Business Bureau
Ohio Attorney General
Federal Trade Commission
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Would email work, or do you suggest physically mailing the lette
Would email work, or do you suggest physically mailing the letters. Im sure mailing i have more proof, but do they need to get them Before next debit, they are to start on monday. Just want to do this the right way so they know i mean business lol
And should i send out letters to the bbb,attorney gen and fed trade commission now as well or wait and see if they will work with me?
thank you
reply
as long as your account is secure and your employer has your
wage assignment revocation.i would mail them.that green receipt is your proof.some of your pdl's could deny receiving your letter otherwise.sending it is prefered,unless you have fax #'s.then you can get a confirmation that way.i just don't trust these places at all.they lie out there backsides left and right.
How do i get a wage assignment revocation? I work from home and
How do i get a wage assignment revocation? I work from home and the business i work for is states away. Wouldnt i get a notice from my employer prior to them taking any funds out of my pay checks?
thank you again
Wendy, all you would need to do is email them (your employer) a
Wendy, all you would need to do is email them (your employer) a copy of the letter you've sent to the lenders, that's simply proving to your employer that IF any of the lenders listed attempts to attach your wages you have already legally revoked it, therefore no action can be taken. Sending letters certified return receipt is probably the best way to go, but I would also send them via email also, and I would send those emails asap! Personally, I only sent my revocation letters via email which seemed to be sufficient enough, but that's just me! :D
reply
now i'm confused.i read your letter and it stated you notified your employer.i thought we were discussing the best way to send the letters to the pdl's.
no, im sorry, i have not notified my employer, i got that letter
no, im sorry, i have not notified my employer, i got that letter from someone else one here. I will let them know though now, thanks
oh and when i do let my employer know, can i just send them a le
oh and when i do let my employer know, can i just send them a letter with all of the pdl or just state i will not authorize ANY wage assignements on my paycheck. its too long of a list and they will wonder what is going on, thanks
wendy
Some employers will not accept wage assignments unless they are
Some employers will not accept wage assignments unless they are court ordered.
i contacted my employer and they are saying i need to get a lawy
i contacted my employer and they are saying i need to get a lawyer if there is garnishment, they dont seem to know what im talking about and of course neither do i so im notsure im getting anywhere with them : 0
robert we don't help people get loans we help people get out of
robert we don't help people get loans we help people get out of debt.
wendylynn93, that is true they do need a court order for garnish
wendylynn93, that is true they do need a court order for garnishment, which is proabably why they say you need a lawyer (which is always a personal preference, i have seen it done without lawyers!). wage assignment is different, they do not need a court order for a wage assignment and it is volunatary. i would call back and keep asking for someone else who knows what they are talking about (hopefully at least a supervisor can be able to help you)
I agree. I would write up the revocation and mail it/fax it/ giv
I agree. I would write up the revocation and mail it/fax it/ give it to payroll/HR and tell them to put it in your file. You don't have to list all companies just make it to general to include ANY company that may attempt.....etc.
If they get nosey then tell them you are victim of fraud, which is true, and that you are working with your bank and they suggested you invoke a wage assigment revocation statement with your company.
