CTC PAYDAYLOAN

Ibarran, CTC is really bad news. Unfortunately, there is not much you can do about them contacting you at work. Youcan send them a cease and desist letter but they more than likely will not honor it. One thing you should be aware of with this company is that they are famous for wage assignments. You need to write a letter revoking any wage assignment you may have signed and give it to your payroll.

Here are two threads that have letters you use ..

For sending to CTC...you can just change the information to reflect your situation...
https://www.debtconsolidationcare.com/paydayloan/iowa-pdl-law.html

for your payroll for the wage assignment
https://www.debtconsolidationcare.com/paydayloan/online-lenders.html

Here is you will find the Payday loan laws for California (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

CTC is part of the Sonic Payday family of loan companies which have been banned in California for almost two years. I would definately report this harassment to the Dept of Corporations and we can help you explain their connection to Sonic, which has been banned in the state for some time. It would be great if they could also ban CTC and Northway Debit, which is also under their umbrella.

I see Roxy posted a thread to a letter, but since Iam also in CA, I have a letter all ready to go customized for California:

Date

Name and address of the PDL

After doing research on internet payday loan laws in the State of California, 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 California in general:



California State Information
Citation:
Cal. Fin. Code ???????? 23000 to 23106

Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 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: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)

Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited



After finding out that your internet payday loans are illegal, your company should actually not issue loans to California residents at all.

I have contacted the California Office of Financial Institutions and the California State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in California and was advised to pay what is due according to principle amount only of the loan.

I have currently paid XXXX DOLLARS on my XXXX DOLLARS loan. The legal amount that could have been charged to my loan is the principal amount of XXX DOLLARS even if your internet pay day loan was legal in California. I have paid XXXX DOLLARS on this loan by your debits of my bank account and only owe XXXX DOLLARS to have this paid in full. I am willing to pay the amount of XXX DOLLARS to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and the California Attorney General's office. I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan. I demand that you mark my account Paid in Full as I have fulfilled in remittance of the principal amount of the loan and send me a refund of $XXXX.


I demand a physical address to mail payments to, as you are no longer authorized to debit my bank account.
You must provide me with a physical address to mail my payments. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.

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 the California Attorney General's Office.



I prohibit you or your affiliates to contact 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. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the State of California.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. 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 am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, and the California Attorney General's Office.

I expect a response from your company no later than XX DATE, regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.

Please respond by XX DATE, regarding this matter by US Postal mail or by email only.





Your name
CC:
Better Business Bureau
California Attorney General
Federal Trade Commission

So expect them to hound the crap out of me huh...I just received an email stating that my ach rejected; of course it did as i closed my account out....I will send my hr a letter explaing my situation and to contact me if they contact them....here is what i don't know...this company makes you pay in full every pay period. So over the course of time I have paid them back plus their fees. So if they are illegal, do I need to pay back my last principle amount even though I have paid so much in the past in fees? Does this make sense?

Please advise if you don't mind...

Hi there, Since you had technically "reloaned" in the past, you should pay them back the principal of the most recent loan.

I emailed, and faxed revokation of wage assignment and also the letter that was prepared by volleyball mom thanks I got onto ctc site and it shows that they recieved both

I don't have access to their site anymore to see if they have received anything........go figure...oh well. Has this happen to a lot of you with these guys?

They revoked my access to their site
as well so I don't know if they
received all of my letters.

but I did get an email from them, so i just replied back to it with my letter...see what happens...keep us posted and I will do the same.

Ibarran-Got your PM...you can PM me by hitting the PM button here underneath my post.

quiet on the homefront from them.....from this forum it sounds like they would just call and call and hound me.......

believe me I am not wanting that at all...

Is it normal that they have not contacted me in a week? You know as soon as I post this, I will get hounded....but wanted to know what others have dealt with....