Kenwood Services

Illegal lenders. You have way overpaid and are due refunds. On this site, click on forums, then click on payday loan help, then click on sticky on how to deal with illegal lenders, follow every step, do not skip. Also, please register with the forum so that you can see answers to your posts. Good Luck!

Well, I went to my bank today and they closed down my account and opened a new one and had my direct deposit re-routed to the new account. I sent emails to both companies and have yet to hear anything from either yet.

This is the one I sent to VIP Loan Shop:

Dear Lender,

It has come to my attention that payday lenders must be licensed in a state in which there is a physical office in order to offer loans to its residents. Since your company is not from the United States and is not licensed in any of the states, the loan contract I have with you is not valid, as overseas unlicensed lending is illegal in the US. Although I am not legally required to do so, I am willing to repay the principal balance of this loan. To date, I received a deposit of $500 on 12/03/2012 and have had 9 bi-weekly withdrawals totaling $1,300 debited from my account. This results in an overpayment of $800.

At this time I am requesting a return email acknowledging that my loan has been paid in full. Also, I would like a refund of the $800 overpayment. A refund check of $800 should be mailed to me at my home address.

I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please respond to this email with acknowledgment that my account has been satisfied in full. Details of when I can expect the refund check, as discussed above, should also be included in the email.


And here is the one I sent to Kenwood:

Dear Lender,

It has come to my attention that your company must be licensed by the state of Delaware and abide by their laws in order to offer loans to residents in my state. I have not been able to find your company listed in the Delaware state database of licensed non-depository institutions. The loan arrangement has also violated Delaware state law regarding payday loans, which states that lenders are not allowed to roll over a loan more than 4 times. I have repaid the principal balance of this loan and all allowable interest charges permitted by law in your state. To date, I received a deposit of $150 on 8/09/2012, and have had 17 bi-weekly withdrawals of $45 debited from my account. This results in an overpayment of $435.

At this time I am requesting a return email acknowledging that my loan has been paid in full. Also, I would like a refund of the $435 overpayment. A refund check of $435 should be mailed to me at my home address.

I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please respond to this email with acknowledgment that my account has been satisfied in full. Details of when I can expect the refund check, as discussed above, should also be included in the email.

I guess we will see what happens.

Great job! It may take awhile before they respond, but believe me, they will. Just stick to your guns and good luck!

So today was my payday. My check was direct deposited into my new account with no problem. VIP loanshop sent me a paid in full letter a little while ago and did not attempt to hold more money this time, no mention of the refund they owe me though.

Kenwood Services however never responded to me email and attempted to debit my closed account for $195 even though they were told their ACH privileges were revoked. Somehow the payment was processed by my old account, but I called my account rep and she said not to worry, she was having it reversed and the account would be completely closed down by Monday. They have also been having the same barely english speaking guy call me constantly from different numbers leaving the same exact message every time telling me that if I don't return his call "he wishes me luck when it all comes down on me and god bless" LOL

Should I even bother trying to email VIP again about my refund? And what should I do now about Kenwood?

I would push for a refund from VIP. I received refund from them. As far as Kenwood goes, wait to see what their next step might be and congratulations.

I just emailed this to Kenwood:

To Whom This May Concern,

I am forwarding the message that I previously sent to you regarding my account and the legality of this contract. I suggest you read it again and make note that any further collection attempts on this account are in violation of the law and I will not hesitate to take action to the fullest extent of the law against Kenwood Services if you do not abide by the terms of this letter. You were already notified that any previously authorized ACH and wage assignments have been revoked. You attempted to debit my closed account this morning twice, one payment of $45 and another for $150. These payments are being reversed and the account permanently closed. I also revoke any attempts to discuss this account by any method other than email or postal mail. You are not authorized to call my cell phone, house phone, employer, or any other reference or person regarding this account. If you do not honor this request you will be in violation of the law for this issue as well. I will not communicate about this account in any manner that is not presented in writing. I expect a letter showing my account paid in full and a refund check issued to me for the overpayment of $435. If I do not receive written notification of these terms by 6:00 p.m. today I will be filing complaints with the FTC, Better Business Bureau, and the Attorney Generals of Louisiana and Delaware and will pursue this matter to the fullest extent of the law.

We will see if they respond I suppose. Good to know about VIP, I will ask them about it again. Thanks :)

Keep us posted the response looks great.... glad to know your bank was on the look out..