Hi, I accumulated a handful of ONLINE payday loan
Date: Tue, 05/24/2011 - 15:17
I accumulated a handful of ONLINE payday loans (big mistake, I know). Anyways, I have since changed bank accounts, and sent them all a certified letter asking them to revoke ACH transactions. Today, I get this email (see below). I'm just wanting some guidance/advice on how to respond. This is for an online payday lender. I live in Iowa, and online payday lending is not licensed in my state. Any advice would be appreciated. Thanks. Email is:
"As per our conversation and your request to communicate via email, you have a balance with The Loan Shop Online in the amount of $780. You received this loan 5/3/2011 and have yet to fulfill your obligation to my company and repay what you borrowed. This is payday loan and is intended to be paid back on the following pay period from when the loan was deposited into your account. At this point, the company is requesting that further collection activity take place, unless you set up a payment plan, today, through a VALID checking or savings account.
Please be advised we do not allow our customers, once they are in collections, to dictate any terms. I am only agreeing to communicate with you, via email, because I believe you want to do the right thing and resolve this matter voluntarily. Once you set up a payment arrangement and a payment is missed, for whatever reason, we will enforce the terms and conditions that you agreed to when you signed the contract. For example, your ability to pay this loan back will be verified with your employer as well as any other information that we have attached to your name and social, so that we can protect the interest of the company.
Attached you will find a payment option form, which needs to be filled out and submitted before the end of the month. Please make sure that a payment is reflected for the month of May in order to put your file back into good standing. If you have any further questions or concerns, please contact me immediately! "
Thanks again for any advice!
LAS
If online payday loans are not legal in your state, then you don
If online payday loans are not legal in your state, then you don't have to pay the interest rates or fees. You just need to principal amount. Nothing else.
well loushan since this is indeed an illegal loan you only owe t
well loushan since this is indeed an illegal loan you only owe the principle,and you owe 780.00 if the principle was 780.00 and they debited nothing.i doubt that though.since i can't recall the details i will give you examples of what i would reply with.first if you owe them.
well,well getting snippy aren't we?well since this loan is considered illegal in iowa i don't owe the 780.00 you claim,and am not paying that,or giving you any sensitive info to pay the xxx i really owe.since you love to claim things make that claim in an iowa court.until then i don't get swayed by standoffish emails. sincerely.
now if you over paid i would reply like this.
well,well getting snippy aren't we?since you are an illegal lender in iowa,and you got xxx on a xxx loan i owe you nothing.in fact you owe me the xxx i overpaid.that being the case unless you are willing to acknowkledge that.we have nothing to discuss,and any future email stupidity will be forwarded to my AG as part of a complaint against your illegal company.if you think you are getting another penny from me think again. sinccerely.
anyway that is how i would respond.just don't back down whether you owe them a small amount,or you overpaid.
