ABCWAGES
Date: Tue, 05/14/2013 - 08:06
May 13, 2013
Via Email: Customerservice@abcwages.com
ABC Payday Loan
333 Naamans Road Suite 15A,
Claymont, Delaware 19703
xxxxxxx
Hampton, Virginia
Loan ID Number: 21602353
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 of Virginia. All internet loans are illegal in Virginia and the lender can be charged with a class 6 felony statue 6.2-1825. For your convenience, I have included my state payday loan laws below.
Virginia’s Payday Laws: State Legal Status
Lending of payday loan is legal in the State of Virginia.
All internet payday loans are illegal and unenforceable to residents in Virginia
Loan Specifications
Maximum Loan Amount - $500
Term of Loan - Minimum two pay periods
Maximum Rate of Finance and Fees- 36% annual rate of interest + verification fee of $5 + 20% of the loan
Finance Charge on $100 loan for a 14 day period - $26.38
APR for $100 loan for a 14 day period - 687.76%
Debt Limits
Maximum Number of outstanding loans permitted at a time - 1
Permissible number of Rollovers - None (cannot be renewed, refinanced or extended)
Cooling-off Period - One day after pay, forty-five days after the fifth loan, ninety days after payment plan
Repayment Plan - Yes, once per annum
Limits of Collection
Collection Fees - a) NSF fee of $25; b) Costs of court; c) Fees of a reasonable attorney (should not exceed $250)
Criminal Action - Prohibited
The Commonwealth of Virginia does not permit any internet payday loans. I have already researched this information, your company does NOT have a license to lend in the Commonwealth of Virginia, 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, therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today May 13, 2013, 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, and 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 Kenneth Thomas Cuccinelli II, 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 Montana and cause damage to your reputation, which could potentially decrease your clientele!
To date, I have received $200.00 have a balance due of $200.00 I am willing to repay the $200.00 balance via money order on June 14, 2013.
Looks good to me. Have you
Looks good to me. Have you given a copy of the ACH revocation to your bank and employer? If so, please do so ASAP.
I have notified the bank and my employer
Here is what I received back from them:
Your 'request' is declined. Please refer to your copy of the Loan Agreement - the loan was not funded from, nor are we located in, the State of Virginia - nor Montana as you also had in your 'letter'. Under the terms of the Agreement you agreed to make payments by ACH until the loan balance was satisfied in full, in accordance with that contract. It is our belief that you took the loan with no intent to repay in line with the contract and as such we will proceed accordingly as is our right as the Lender. Thanks, Customer Service
My reply back
in response to your email dated 05/13/2013 I must reiterate that you are not a licensed lender in the state of Virginia, and therefore this loan is illegal, I am morally responsible for the principal only, any further contact must be by email or usps only, I will be awaiting your response
ABC reply back
Please refer to our previous reply. We meet all relevant Local Laws that apply to Us and the Loans we provide. You were clearly advised in the loan agreement that you were waiving your Local Laws and accepting our Laws regarding the loan - and freely accepted as such. The loan contract IS and WILL BE fully enforced. We suggest you obtain proper Legal Advice and not rely on unregulated websites that are full of opinion. Customer Service
ABC Wages is a pain to deal
ABC Wages is a pain to deal with. I suggest you close your account if you haven't already. Once they realize they can no longer take money from you they might just crack and meet your demands.
I have closed my account already - they tried to get money out o
my account this morning but it was already closed. Now they have closed my account on the ABC website and I can no longer log into my account.
I'd send them another email
I'd send them another email stating you will repay the principal only via money order but you'll need an address to send payment too. If they wont provide a physical address pay them nothing and move on from them. I almost had a loan with them until they demanded my mobile banking user name & password so they could "verify my account and deposits" i wasn't going for it...they are aggressive to say the least lol
When they responded to you
When they responded to you their email should be there.. Thank goodness you got your money secure first.. Glad to hear..
That is a good thing that
That is a good thing that they closed your account on the web. Keep sending your email....no address, no money. It will be their loss.
email address
The only way I was able to send them the letter was via thier website. that is were all the emailing took place. I did copy it all over to my computer as it happened. But now I can not send them anything since I can not find an actual email address for them. the customerservice email was kicked back to me today. If anyone has an actual email address for them that works please let me know.
My Reply
You know as well as I do that the only laws I am subject to are the laws of MY state of Virginia. I do not live on your state and as such the contract I signed is null and void. Legally I owe you nothing. Morally I will finish repaying the principal balance I owe. You are within your legal right to send me to collection. However I will us my legal rights to cease and desist any collection agency collecting on this debt. Should they choose to violate federal law, I will be happy to pursue them for statutory damages. A copy of this revocation has been given to my bank so debiting my account will only cost YOU money. Govern yourself accordingly
My Reply
You know as well as I do that the only laws I am subject to are the laws of MY state of Virginia. I do not live on your state and as such the contract I signed is null and void. Legally I owe you nothing. Morally I will finish repaying the principal balance I owe. You are within your legal right to send me to collection. However I will us my legal rights to cease and desist any collection agency collecting on this debt. Should they choose to violate federal law, I will be happy to pursue them for statutory damages. A copy of this revocation has been given to my bank so debiting my account will only cost YOU money. Govern yourself accordingly
I had a loan with ABC Wages
I had a loan with ABC Wages and I also tried to find out their address and they would not give me any info. I told them that in Tn, they are not a legal company. The said they were not located and Tn and did not have to abide by our laws. I let them know that since they had no business license in TN that this loan is illegal and Void and that it was not enforceable as a matter of law. I ask for their mailing address and their legal business name and they refused to give me any information. We went back and forth for a while and they finally said they were located in Panama. Told them until I got answers from them they were getting nothing from me. I still haven't heard anything.
well
they are in panama which should end any further lunacy.do not talk to them further.an offshore illegal that argues,and wants to argue.ignore them from now on.
