debt w/ attorney's fees
Date: Sun, 12/28/2008 - 01:50
My account eventually became overdrawn. The bank was very helpful in not only closing my account but putting a block on it. They also helped me open a new account.
I have faxed/emailed letters to my payday lenders revoking ACH transactions and wage assignment.
I asked for a response from the lenders within 5 days.
Also included in the letter stated for them to communicate only with me by email or mail. And not to contact me at work or home or contact my references.
What is my next step?
Is faxing and emailing the letters sufficient or must I certify mail them also?
If my lender is licensed in the state of IL but has not followed the laws of the state(e.g. higher interest rate, more than 2 loans out at once) what is my course of action?
If they are not licensed and I have paid more than principle already, what do I do?
Thank you to anyone who may be able to answer these questions for me.
Your payday lenders being the original creditor or not bound by
Your payday lenders being the original creditor or not bound by FDCPA.
Soaplady is right. Don't treat payday lenders as collection agen
Soaplady is right. Don't treat payday lenders as collection agencies. To stop them debit your account, close your bank account.
I understand that they are not bound by the FDCPA. But, everywh
I understand that they are not bound by the FDCPA. But, everywhere on this site it said it would not hurt to add it to my letter. Can anyone answer the questions I had on my original post?
I am in the state of Illinois.
I have researched which lenders are legal and illegal in my state.
I have closed my bank account and they also put a hard hold on it so nothing can reopen it.
I have sent letters of revocation of ach authorization and wage assignment.
I will be filing this week with the attorney general's office and providing my employer with copy's of my letters for revocation of wage assignment.
What do I do next?
I have overpaid many of the lenders.
If the lenders are not legal in your state you can go back to th
If the lenders are not legal in your state you can go back to them and try and get a refund (which they may or may not give). Most will simply mark the loan PIF. Make sure you tell them that they are illegal. They will continue to try and get you to pay more than what you owe, but just remind them that they are not legal in your state.
I would also send them Certified just to have my back covered.
If your lender is licnesed but has not followed the laws of your state then contact your States Department of Financial Inst and explain to them, that the legal lenders have violated the statue.