please help in texas

Cash Central and Ace Cash my be the only legal ones but I will double check.

You can go here and read up on the steps to take when dealing with illegal lenders.

You will need to send a letter to each AFTER you close your bank account.

You only owe them the amount you borrowed. All fees or rollover charges you have paid go towards that amount.

thanks. i'll get started on that today after work. i'm sure i'll be back with more questions.

i have a dumb question. i'm working on my letters and the part where i should put texas's info, do i put ALL that stuff from the payday loan consumer info. site or just the citation number and terms?

i'm working on my letters and don't know just how much of the texas info to put in them. do i put ALL the stuff about texas laws from the payday loan consumer info site or just the citation number and terms? i'm not much of a letter writer to begin with and for some reason this is really hard for me.

Just copy and paste the laws from here.

I agree you must include the full law of your state. This way everything is clear.

thanks.

[size=1][/size][font=Times New Roman][/font][color=Black][/color]

How does this look? I thought I'd get a second opinion before I sent these out.

May 8,2009

My name
City, Texas
Paycheck Today Account #

To Whom It May Concern:

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

State Info.

I hereby revoke any and all ACH authorization with you, your company, or your affiliates from debiting any of my personal accounts, per Federal law, Regulaion E Section 205.10 Preauthorized transfers. 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 also revoke any and all wage assignments I may or may not have signed with your company, I not 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 have contacted the Texas Office of Financial Institutions and the Texas State Attorney General's Office regarding your internet payday loans and was informed they are indeed illegal as you are not licensed to lend to Texas residents. I was advised that the legal amount that could have been charged to my loan is the principle amount. I am requesting that you send me your license number which enables you to offer loans to Texas residents. I am willing to pay the principle amount of the loan only.

The legal amount that could have been charged to my loan is the principle amount of $300.00 even if your internet payday loan was legal in Texas. I have paid $830.00 on this loan by your debits of my bank account. To day, you owe me a refund of $530.00. I demand a refund of the money paid over the legal limits in the State of Texas and a paid in full letter/receipt.

I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Texas Attorney General's Office.

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 Attorney General's Office. I prohibit you or your affilitates to contact ne vua telephone at my place of employment, my home telephone number, or my cell phone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telepho0ne contact immediately or you will be once again breaking the laws of the State of Texas.

I expect a response from your company no later that 5 days fromt he about date regarding this matter. The response may only come via US Postal mail or email. No telepone contact is permitted.

Thank you

I know there are some spelling issues but I wanted to get an opion and then I'll go back and check everything again.

Please include your state laws where it says "state info"

Other than that it looks pretty solid :wink:

Texas PDL Law:
Quote:

Thanks. I was going to add that in the final copies but i haven't figured out to attach or cut and paste on here yet, so i didn't want to type all that.

Thanks for reading it.

I have two pdls that i want to make sure about. i've read several postings and on some they have been listed as legal and others not. Cash Central -TLC shows up on my acct., i think it stands for Texas Loan Corporation and then the Infamous Ace Cash Services. I hate to send letters to these and then find out that they are actually legal. confused

You can always send them. If they are legal then they will work with you by giving you their license number and then you can work out a payment plan.

Gotcha, thanks