PDL problems in North Dakota

Your Name
Your Address
City, State, Zip

(Sent via CERTIFIED RETURN MAIL #123 456 789 with RETURN RECEIPT)

Date:
*** Collection Agency/Law Firm
**** Main Street, #100
City Name, USA 10021

Re: File #0000000 - ABC Lenders- #************
-For: $6655.55

Dear Debt Collector /Debt Collector Attorney:

This will serve as your legal notice under provisions of federal law, the Fair Debt Collection Practices Act (FDCPA), to cease all communication with me in regard to the debt referenced above.

If you fail to heed this notice, I will file a formal complaint against you with the Federal Trade Commission who is responsible for enforcement, the States Attorney General office and/or the American Collectors Association or local State Bar Association.

I/We have decided that we do not desire to work with a collection agency under any circumstances. I/We will contact the original creditor to resolve this matter directly, as circumstances warrant.

You are also notified that should any adverse information be placed against my/our credit reports as a result of this notice that appropriate actions will be taken. Give this very important matter the attention it deserves.

Sincerely,

Your name

North Dakota State Information

Legal Status: Legal

Citation:
N.D. Cent. Code ?? 13-08-01 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: 20% + databasing fee
Finance Charge for 14-day $100 loan: $20
apr for 14-day $100 loan: 520%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($600 aggregate loans outstanding to all licensees)
Rollovers Permitted: One (renewal fee not to exceed 20% of amount being renewed)
Cooling-off Period: 3 days
Repayment Plan:

Collection Limits:
Collection Fees: $20 NSF fee (if disclosed)
Criminal Action: Prohibited (Unless account was closed on date of original transaction)

Where to Complain, Get Information:
Regulator: North Dakota Department of Financial Institutions
Address: 2000 Schafer Street, Suite G Bismarck ND 58501
Phone: (701) 328-9933
Fax: (701) 328-9955
Regulatory Contact: Robert J. Entringer,, Assistant Commissioner

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:

Your State Information

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