Limbo

Someone will be along to help you better than I; as far as when the PDL's will start calling, it depends on the individual PDL. Some of them will quietly fade away while others will still be calling you for a year or 2 afterwards! (I still have one of them; I can keep hanging up as long as they want to call! :) )

As Pachacutec1 states, it varies from Pdl to Pdl, usually it begins after they attempt to withdraw from your account and it bounces back to them. I would go ahead and send those letters out (email), the sooner you get this started, the sooner it will come to an end. There is no stopping the calls but the less you acknowledge their calls, the sooner they will stop calling you. If a call happens to slip by you and you answer the phone, hang up on them immediately, don't speak to them at all, the more you argue with them, the more they will call. If they call you at work and you catch the call tell them you are no longer employed there.

Fortunately you are is Florida so, unless they are storefronts or the rare licensed internet lender, they have no legal recourse! Just make sure you revoke any wage assignments you made! They are illegal in Florida but some employers will honor them anyway out of ignorance!

Do you recommend attached the letter as a word document or copying and pasting the letter into the body of the email?

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Shazzers,

You have been an amazing help, God Bless You.

Do you mind reviewing my letter below to make sure I have not done anything that will hurt me. Please note: on the companies that owe me I have put how much I have paid and how much they owe me. On the companies I have paid some, but not the entire loan amount I have put how much I have paid and the loan amount. On the companies I have not paid anything to, I did not mention anything. Obviously I have removed my info for privacy.


June 21, 2010





Recently, my Bank of America acct (ending in #) was closed due to fraudulent activity. After reviewing my account with: my attorney, authorities, and Bank of America it has been determined that Internet payday loans are illegal in the State of Florida.

I have also found the following laws to be true applying to payday loans in the State of Florida in general:

Loan Specifications
• Maximun Amount of Loan - $500
• Term of Loan - 7 to 31 days
• Maximum Rate of Finance and Fees- 10% + Fees for verification
• Finance Charge on $100 loan for a 14 day period - $15
• APR for $100 loan for a 14 day period - 390%

Debt Limits
• Maximum Number of outstanding loans permitted at a time - 1
• Permissible number of Rollovers - None (Rollover cannot be done)
• Cooling-off Period - 24 hours
• Repayment Plan - Yes

Limits of Collection
• Collection Fees Amount - a) All charges imposed by any financial institution on the lender; b) Lender is not entitled to increase damages threefold
• Criminal Action - Prohibited


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 ending in #### to protect my interest in this matter, per instructions from The Florida 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 to do so on your part 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 and the Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or the telephone number I have provided. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of Florida to be a legal and binding contract, your company should NOT issue loans to Florida residents at all. I am requesting that you send me your license number which enables you to offer loans to Florida residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.

My records indicate I have paid: $90.00 on a loan amount of $300.00

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Florida 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 mail or email. No telephone contact is permitted.

Sincerely,


CC:
Better Business Bureau
Florida Attorney General
Federal Trade Commission

Quote:

Shazzers,

Can you please elaborate? I copied this letter from another post. If they aren't illegal than what is my defense?


You have been a huge help, I feel like I'm almost through this.

Quote:

Thanks!

Is that the only change you see throughout the entire letter?

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Ok, I sent emails to all but one of the lenders. I cannot find an email address for beacon.

My phone has already rung a few times from "unrestricted numbers" which I have ignored, but no voicemails yet. I did get an email from one telling me to send the balance to an address in the West Indies?

Quote:

Do what Shazzers says; and also, please don't use any personal credit cards to make payments. As Shazzers said, keep copies of all your correspondence; if they return your payment to you as "refused" (some do, I've heard), keep copies of the returned envelopes with any writing they may have done. If it were me, I'd also keep copies of any e-mails or correspondence they send to you and if you DO talk to any of them, make a note of what was said in the call, date and time, etc.

Update-

Last week I busted my butt to get my bank account closed by Thursday so the payments wouldn't hit on Friday. It felt really good to have my entire paycheck on Friday for the first time in a while. I had more piece of mind over the weekend than I have had in a loooong time.
I didn't hear anything Monday or Tuesday. I sent my emails out Tuesday hoping that resolutions were right around the corner.

Today I have received several emails and phone calls disputing my letter. I'm not sure if this is just an initial threat, they have a case, or they are getting smart to people waking up to their tactics.

Of course the ones that I have paid above and beyond haven't responded except with the general "payment returned from bank email" Most of the companies are claiming that the laws apply to where they are located. One company has already turned it over to collections-its only been a few days.

I am relieved, confused, frustrated, nervous, overwhelmed etc....

I'm not sure where to go from here. I have read hundreds of posts on here and I was hoping the hard part was at least somewhat over.

Shazzers, you have been a tremendous help, but I'm not sure where to go from here. I've calculated it out that if I were to get back the money I over-payed(which is wishful thinking I know) I could cover the balances owed based on what I have paid (although most aren't agreeing with my letter/logic on that part)

I didn't think this would be easy and I am tough and will get through this.

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Here are a few examples of some of the email responses to my letters:

1) I respect a consumer who researches the services to which he/she uses. With that being said when you applied for and agreed to the terms of the loan it would have behooved you to read the complete contract you were agreeing to. You are a citizen of the state of Florida. However the contract was not made in the state of Florida. The contract was completed via the World Wide Web. The governing law (clearly outlined in your contract) which you agreed to by your legal e-signature is based in the isle and providence of Nevis West Indies Bahamas.

With all the information at hand I am still willing to work out arrangements for the balance that is still owed on your account.. You may contact our offices 8am-5pm CST Monday-Friday. Our toll free phone. If no contact is made within a reasonable time the account will be sent to a third party collection agency.

If you have any questions do not hesitate to call or email.

2)East Side Lenders is responding to your correspondence regarding the above-captioned account.
East Side Lenders, which is located in Delaware, is licensed by the State of Delaware to make small loans. All such loans are approved and funded in Delaware, with repayment to be made in Delaware. The East Side Lenders loan agreement and website contain all disclosures required by Delaware and federal law and make it clear that all transactions are governed by Delaware law. On the advice of counsel, East Side Lenders maintains that the choice of Delaware law as controlling in the loan documents would be upheld, as all of the significant contacts in the loan transaction occur in Delaware. The loan agreement is legal and enforceable. In responding to your correspondence, East Side Lenders notes and reserves all available legal and equitable objections to the points you have raised.
East Side Lenders provided this service as a convenience to you. We still consider your loan to be outstanding and are prepared to go to arbitration as provided for in the Loan Agreement between us. As an alternative, if you are experiencing financial hardship, we will be happy to speak to you about payment arrangements through which you can successfully meet your payment obligations. East Side Lenders will consider doing so because of our continuing commitment to servicing our customers and not because of a legal obligation to do so.

3)We respect a consumer who researches the services to which he/she uses. With that being said when you applied for and agreed to the terms of the loan, it would have behooved you to read the complete contract you were agreeing to. You are a citizen of Florida, however the contract was not made in Florida. The contract was completed via the world wide web, the governing law (clearly outlined in your contract) which you agreed to by your legal e-signature is based in Utah. When you spoke with on 04/12/10 at 8:15am CST, she clearly outlined how the loan works and what the finance charges were, yet you still accepted the loan.

If you would like debits stopped on your account, you can either pay off the loan in full for $390, or go to your bank and place a stop payment on us. Please keep in mind, the latter option, will result in your account being sold to outside collections. Thanks,

JHS Marketing

4)The contract is with a Canadian Tribal entity. We do not fall under Florida regulations. Apparently, you are not satisfied with the service. We can grant a settlement on your $670 balance for $190 paid in full by 7/2. Please advise before 6/30. Thank you-

The funny thing about this one is the loan was for 400 and i have already paid 360