mypaydayloan.com
Date: Sun, 10/28/2012 - 18:29
I live in Ohio and I recently discovered that mypaydayloan.com is not licensed in my state. They are based out of Costa Rica and I received a loan from them back in August. I have paid $625 to them for a $400 loan I took out. I can't close my checking because of various debits that come out automatically. I found a letter on here I can send but I am really scared to send it. I paid them back way too much and they want to take another $240 out this coming Friday!!!!! I'm going to get ahold of the bank tomorrow and see what I can do but should I send them this letter? Here's is the template I found:
MyPaydayLoan.com
Centro Colon, 8 avo piso, Oficina 8-4
San Jose, Costa Rica
Phone: 888-269-2303
Date:
Name Of PDL
Your Name
City, State
Account #
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
(Insert Your State payday loan laws here)
(Insert either (a) OR (b) which ever statements below which applies to you)
(a) The state of (insert your state) prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
OR
(b) The state of (insert your state) requires Internet payday lenders to be licensed in MY state. I have already researched this information, your company does NOT have a license to lend in the state of ___________, if I am mistaken I will need proof in the form of a license number so that I may verify it with my Attorney General. I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today (insert todays date) I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment.
I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principle amount of the loan only, however, no address means NO payments, this is not negotiable.
If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General (insert name of your attorney general), the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in the state of (insert the state they are licensed in) < (only use this statement if the illegal lender is licensed to lend in a state other than yours) and cause damage to your reputation, which could potentially decrease your clientele!
Sincerely,
Your Name
MyPaydayLoan.com
Centro Colon, 8 avo piso, Oficina 8-4
San Jose, Costa Rica
Phone: 888-269-2303
Date:
Name Of PDL
Your Name
City, State
Account #
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
(Insert Your State payday loan laws here)
(Insert either (a) OR (b) which ever statements below which applies to you)
(a) The state of (insert your state) prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
OR
(b) The state of (insert your state) requires Internet payday lenders to be licensed in MY state. I have already researched this information, your company does NOT have a license to lend in the state of ___________, if I am mistaken I will need proof in the form of a license number so that I may verify it with my Attorney General. I am bound by the state laws where I reside. As I have no presence in your state or country (only insert one choice, state or country, depending on your situation.), therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today (insert todays date) I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment.
I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principle amount of the loan only, however, no address means NO payments, this is not negotiable.
If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General (insert name of your attorney general), the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in the state of (insert the state they are licensed in) < (only use this statement if the illegal lender is licensed to lend in a state other than yours) and cause damage to your reputation, which could potentially decrease your clientele!
Sincerely,
Your Name
How about just sending this?? All your letter is showing is tha
How about just sending this?? All your letter is showing is that you know how to cut and paste. You do not have to tell them the laws. Also your state AG has no legal power for a company that is not in the USA. BBB likewise...they are simply a letter writing company.
Dear PDL...
I hereby revoke ACH priveleges for account number _____________ effective immediately. I also am revoking any and all voluntary wage assignments I may have signed. A copy of this notice has been given to my bank and my payroll department. You are illegal in my state of Ohio and as such, the contract is null and void.
