payday lender says jurisdiction is in their state and not mine
Date: Mon, 04/15/2013 - 22:58
I have multiple payday loans which I know are my fault. I sent emails to all of them revoking my ACH withdrawal authorization. I live in Iowa and included the state laws of Iowa. Kenwood Services and Mass Street group refuse to comply. They both stated that because it was an online loan, jurisdiction is in the state of the lender not the recipient of the loan. They also both say that I can only revoke my ACH debit authirization if I pay the balance of my loan in full. They reminded me that their contracts both state this and I agreed to the terms. What can I do? I contacted my bank with my intention to revoke authirization, but they say I have to put stop payments on each company. I'm already in the negative from NSF fees, soI have no money to pay for the stop payments. My direct deposit paycheck will take care ofmy negative account, but if I dont stop the payments I will be back in the hole. What can I do? If I can stop the automatic renewels and payments, I can payback all the principle.
They are handing you a bunch
They are handing you a bunch of crap like they always do. Did you send the ACH revocation?? You do not pay NSF fees for ach revocation. Did you give a copy to your bank??
Dear payday loan lender,
Cut the crap...you know the laws pertaining to payday loans as well as I do. The only laws that apply to me are the laws of MY state, not yours. Your contract is null and void and my ACH revocation is effective immediately. I will be giving a copy to my bank and any debit submitted will be returned,.
Govern yourself accordingly
