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Letter to JD Marketing...Let me know what you think.

Date: Mon, 03/20/2006 - 17:27

Submitted by Jessi
on Mon, 03/20/2006 - 17:27

Posts: 3361 Credits: [Donate]

Total Replies: 31


I want to mail this out tomorrow, so that they can get in hopefully in time to respond very soon...

March 20, 2006


To Whom It May Concern:

I have been a customer of your company for over 1 year. I have been paying interest payments totaling $120.00 per month since then.

This is an excerpt from the Ohio Law, which you can read for yourself at http://www.com.state.oh.us/dfi/pub/OCA%20Payday%20Loan.pdf

$500 or less $5 loan origination fee for every $50 borrowed plus 5% interest
per month or partial month.
Example of $100 loan for 2 weeks: $100 loan + $10 in loan
origination fees + $5 in interest = $115
Example of $500 loan for 2 weeks: $500 loan + $50 in loan
origination fees + $25 in interest = $575

According to my math, these figures show that my payment bi-weekly should be $30.00. My loan was for $200. 5% of $200 is $10.00. With a $5 loan origination fee for each $50, that would total $20. $20+$10 is $30.00.

I have paid, according to my records a total of $1440 in loan fees, at $60 bi-weekly. I believe I have overpaid by $720.00. I would like to close my account as paid in full at this point. I would like to be refunded what I have overpaid, minus my original loan amount, which would leave a refund of 490.00 giving you my final finance charge of $5 per $50, and 5% interest.

My next payment with you is due on March 31, 2006. I am NOT authorizing you to make a deduction on this date.

I also can not find your licensing information for the State of Ohio. I would like you to provide that to me as soon as possible to avoid me reporting this to the proper authorities. You can send all that I have requested to the address at the top of this page. No phone calls to my home or to my place of employment.

Sincerely,

Jessica D P*


That's just because I can only go back 12 months on my banks website...I thought I only had this loan for 10 months, and apparently it's more than a year. I could probably get complete records from my bank, but that would take some time, and I just don't have the energy for it right now..lol I'd be happy even if they said, "let's just call it even". I'm not depending on a refund, but it would be nice...$490 would pay off my Asset Acceptence bills, or half of my Midland.


lrhall41

Submitted by Jessi on Mon, 03/20/2006 - 18:38

( Posts: 3361 | Credits: )


I was hoping to get this in the mail today, but I don't have time to run it to the post office, I want to make sure it's certified and the whole deal..Maybe even overnight it, just for fun...BUT I can't find my debit card...It's probably in my jacket I left at my mom's house, and she's out of town, so I called and ordered a new one. It's coming today in the mail, but I'll be at work. :-P~

But I'll get it out tomorrow, and we'll see how it goes. :)


lrhall41

Submitted by Jessi on Tue, 03/21/2006 - 05:03

( Posts: 3361 | Credits: )


I think the letter is very well written. You might add a little something saying that the letter is "intended as settlement negotiations in a civil case", which means it can't be introduced into evidence in any subsequent litigation. You might also point out that, since they're not licensed in your state, their doing business in your state is a violation of state law for which you could hold them civilly liable. (In Virginia, that would be good for damages in the amount of three times the amount you paid them, plus attorneys' fees.) If they're willing to settle, and call it even, you will be willing to release them from your civil claim arising out of their misconduct. And, if they won't agree, I'd go talk to a lawyer who does consumer protection litigation.

Btw, as to the comment by "ipaymybills", who said, "I've noticed u are all over this sight talking about all of the different loan companies you owe and working together with all of these other people on line trying to figure out how to file complaints with a/g how to weasel the debt down.....does anyone on this sight even work and if so it seems odd that all of the sign ons are during business hours. " First, I think the word you're searching for is "site", not "sight". Secondly, in your comment about "weasel the debt down", it appears you're making an assumption that there is a valid debt. It's not possible to "weasel down" a nonexistent debt. And whether or not there is a valid debt is purely a matter of law.

The person who wrote the posting you're complaining about, "ipaymybills", has presented a valid factual basis for the conclusion that there never was a valid debt, since an unlawful contract cannot be enforced. If it were me, I'd take the position that I never owed them anything at all, and simply file suit against them right away. You regard that as "weaseling".

Now if you take the position that you, "ipaymybills", are a more righteous and moral person than other people because you are willing to pay money that you don't lawfully owe, then you should send me fifty dollars to compensate me for the time I've given you in this consultation. Consider this a bill that you should pay. I ask that you send the money to "debtcollectioncare.com" as my agent for collection on that account. You owe me. Or are you a "weasel"?

Donate to Debt Samaritan Club


lrhall41

Submitted by Virginia-Legal-Defense on Tue, 03/21/2006 - 06:49

( Posts: 260 | Credits: )


ipaymybills: Are you so rightous that you never make mistakes? All of us make some kind of financial mistakes - we are paying the payday people through debt consolidatino - maybe a lot of us do not have the money to pay the full amount owed so we decided to consolidate - that is not a bad thing at least the payday loan companies will be getting paid wether it is in small increments than one big payment which a lot of us cannot afford. I am sure you made many mistakes in your finances - unless you are rich and bring home more money than the rest of us do. Do not critize other people who make mistakes! And you don't know if we are on this sight during lunch or breaks so don't critize! We are all looking for advice on this website not a way of not paying bills.


lrhall41

Submitted by oh2benc2 on Tue, 03/21/2006 - 08:08

( Posts: 284 | Credits: )


VLD,

Great post here, I appreciate your sense of humor as well.

Anyway, I have a question for you. Suppose I have borrowed money from a lender who is not licensed to do business in my state. Now if I decide not to pay because the lender is not licensed in my state, can they take any legal step or can they report to credit bureau? How far they can go with this?

IMO, it is always good to check the license before doing business. And if the lender is good with the service, debtors rarely check the licensure.


lrhall41

Submitted by stanley on Tue, 03/21/2006 - 09:35

( Posts: 1639 | Credits: )


I want to apologize for all the attacks by ipaymybills. I am in no way running away from my debts but going through debt consolidation. I'm holding those companies accountable for the harassment and different things I've experienced. Ipaymybills these loans are listed with my debt consolidation company. Is that running away from the debt and make me a crook?


lrhall41

Submitted by Cow & Chicken on Tue, 03/21/2006 - 09:38

( Posts: 3571 | Credits: )


We all know how hard you have been trying to pay your loans back. I have always seen that the collectors and creditors never get our point clearly. We have always said that we speak against the unfair practices.

Lots of people have problem with payday loans. Unauthorized ACH debits, hitting account after receiving money from consolidation company are very common. Moreover, they are ignorant to licensing procedure. These are the issues we are discussing here. Besides solving our own problem, we are helping others as well. So that is a noble job.


lrhall41

Submitted by stanley on Tue, 03/21/2006 - 09:47

( Posts: 1639 | Credits: )


Mishele, I agree with (Tammy). You are doing a great job and these people come on here and just try to upset everyone. It's ridiculous that they are even on this board, we are all here to help each other and he or she isn't the first one to come on here and try to make us all look stupid. We need to stick together and then we will all be debt free!!


lrhall41

Submitted by CycloneFan on Tue, 03/21/2006 - 10:16

( Posts: 1155 | Credits: )


Avenger: You don't have to apologize - the ipay should apologize - he has been on different threads and say the same thing so looks like he just copy adn paste - no original posts. So ipaymybills stop yelling and posting the same post on different threads! We are all looking for advice on this website.


lrhall41

Submitted by oh2benc2 on Tue, 03/21/2006 - 10:44

( Posts: 284 | Credits: )


All this business about the banks not honoring "Do Not Allow Debit" stuff has me nervous. This is going to my bank today.


March 21, 2006



To Whom It May Concern:

I am writing this as notice that any debits attempted by JD Marketing are no longer authorized by me. I have notified this company in writing, via certified letter and fax, and am notifying you that I am not approving any further debits from them.

The next date they were planning on debiting my account will be on March 31. They have been paid in full, and I am not giving them permission to access my account.

Any questions, please feel free to contact me by e-mail jd5351(at)hotmail.com or by mail please.

Thank you in advance



Jessica Price


lrhall41

Submitted by Jessi on Tue, 03/21/2006 - 14:09

( Posts: 3361 | Credits: )


This is what I need to to for my bank. I am going to have to invest the money and send the certified letters (15 in all) and tell the companies to stop debiting my account. (Can I do this if I'm not done paying them but am paying through T&C). Maybe if I forward such a letter to my bank they will react to my requests to stop payments by some of these payday loan lenders.

Great letter Jessica!


lrhall41

Submitted by iloveteaching on Tue, 03/21/2006 - 14:42

( Posts: 150 | Credits: )


I hope so, that's why I'm sending it. I faxed it to them, and will also mail it to them..Double attack..lol

Maybe if they are notified prior in writing that you absolutely did not authorize these debits, then they would have to honor it? I don't want to take chances.

This will make things so much easier in the next couple of months if everything goes as planned.


lrhall41

Submitted by Jessi on Tue, 03/21/2006 - 14:54

( Posts: 3361 | Credits: )


Thanks everybody for your support. Things took a positive direction today, on my lunch hour. I called a couple of the lenders who I have been in discussions with and we were able to make payment arrangments on my accounts. I think they were surprised to hear from me but everything went well. One I will have paid off the middle of April, they were willing to take two payments. They settled for the principle amount so I was happy about that. The second one I will be able to pay off next Friday. So, all in all a good day.


lrhall41

Submitted by Cow & Chicken on Tue, 03/21/2006 - 15:21

( Posts: 3571 | Credits: )


Yippee!

I've been sitting here today going over possible scenarios to get my stuff paid in as short a time as possible. With the little bit I have to work with in relation to my income, it's getting tricky.

I sent an e-mail to ask PAA Advance if they'd be willing to extend my due date one more time, which I hate to do..Because that just gives me something else to pay on April 15, but on April 15, I'll have a bit more money to work with since my b/f's dad will be paid off completely.

I'm counting down the days until July...lol That's when Arrow will be out of my life, and that will free up $500/month. YAY! :) And then on to Phase 2...

(Today, I typed up a plan...Phase 1 is to pay off Arrow, Bay Area (which has my old cell phone on it) and free up my pay day loans. Phase 2 will be to pay off all my old crap from a few years back. Phase 3 will be not getting myself into this mess EVER again..lol)


lrhall41

Submitted by Jessi on Tue, 03/21/2006 - 15:28

( Posts: 3361 | Credits: )


Definately. I talked to my attorney today, and we're still waiting on my doctor's statement from my orthopedic doctor, but he probably didn't even get a chance to start on it until yesterday at the earliest. Hopefully it doesn't take too long. With my lost wages alone I can knock most of this stuff out! But it depends on how cooperative State Farm is in all of this.


lrhall41

Submitted by Jessi on Tue, 03/21/2006 - 15:32

( Posts: 3361 | Credits: )


anyone have any info on quik payday, aim fast cash, ambassador funding, or nationwide? any help would be greatly appreciated thank you


lrhall41

Submitted by on Tue, 03/21/2006 - 16:39

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