Is This OK to Send to Ameriloan or Do I Need to add more
Date: Sun, 10/12/2008 - 16:08
Date: 10/15/08
Name: ameriloan (customerservice@ameriloan.com)
Phone 800-362-9090
Fax 800-256-9166
Account No.
After careful research regarding Internet Payday loan laws in the State of Arizona, 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 Arizona in general.
Arizona State Information
Legal Status: Legal
Citation:
Ariz. Rev. Stat. § 6-1251 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks
Regulator Website
Licensee Database
Complaint Instructions
Complaint Form Link
Online Resources:
Formulario De Queja
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 to protect my interest in this matter per instructions from the Arizona 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 on your part to do so 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 from contacting 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.
The state of Arizona requires Internet payday loans to be licensed in the state. Your company is not licensed; therefore your contract is not legal and binding. Your company should not issue loans to Arizona residents. If you are licensed in Arizona please provide me with your license number.
The legal amount that could have been charged to my loan is the principal amount only. I have made payments to you in six separate transactions totaling $1185. These payments and amounts were withdrawn from my personal checking account as follows;
7/25/08 $180
8/08/08 $180
8/22/08 $180
9/05/05 $230
9/19/08 $215
10/3/08 $200
I expect to receive a paid in full response from you company and a refund mailed to me for $585 in the form of a money order to the address listed above.
I must inform you that I have filed complaints with the Better Business Bureau, The Federal Trade Commission and the Arizona 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 Service or email. No telephone contact is permitted.
Sincerely,
cc: Better Business Bureau
Arizona Attorney General’s Office
Federal Trade Commission
Name: ameriloan (customerservice@ameriloan.com)
Phone 800-362-9090
Fax 800-256-9166
Account No.
After careful research regarding Internet Payday loan laws in the State of Arizona, 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 Arizona in general.
Arizona State Information
Legal Status: Legal
Citation:
Ariz. Rev. Stat. § 6-1251 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks
Regulator Website
Licensee Database
Complaint Instructions
Complaint Form Link
Online Resources:
Formulario De Queja
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 to protect my interest in this matter per instructions from the Arizona 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 on your part to do so 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 from contacting 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.
The state of Arizona requires Internet payday loans to be licensed in the state. Your company is not licensed; therefore your contract is not legal and binding. Your company should not issue loans to Arizona residents. If you are licensed in Arizona please provide me with your license number.
The legal amount that could have been charged to my loan is the principal amount only. I have made payments to you in six separate transactions totaling $1185. These payments and amounts were withdrawn from my personal checking account as follows;
7/25/08 $180
8/08/08 $180
8/22/08 $180
9/05/05 $230
9/19/08 $215
10/3/08 $200
I expect to receive a paid in full response from you company and a refund mailed to me for $585 in the form of a money order to the address listed above.
I must inform you that I have filed complaints with the Better Business Bureau, The Federal Trade Commission and the Arizona 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 Service or email. No telephone contact is permitted.
Sincerely,
cc: Better Business Bureau
Arizona Attorney General’s Office
Federal Trade Commission
That's a well crafted letter. I don't think it needs any more in
That's a well crafted letter. I don't think it needs any more information.
