Payday Loans

Follow Soap Lady's advice. Click on the link under her post. Will give you directions you need to accomplish this.

ok just wanted to say thanks for all the help. I have contacted ameriloan and usfastcash and they have offered to not wihtdraw any thing until my next payday. which gives me some time to work on this

Date: January 23rd 2013


Ameriloan 

Andrew Aldridge


This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.


 The state of Mississippi requires Internet payday lenders to be licensed in MY state. I have already researched this information, your company does NOT have a license to lend in the state of Mississippi, if I am mistaken I will need proof in the form of a license number so that I may verify it with my Attorney General. I am bound by the state laws where I reside. As I have no presence in your state or country Miami, Oklahoma, therefore I have no legal obligation to the 'governing laws' you may have detailed.


Be advised that as of today January 23rd 2013 I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment.


I will only communicate to resolve this matter via email. If you ignore this notice and attempt to contact me or any of my references via telephone, you will be ignored and any payments owed will be delayed. I am willing to pay the principal amount of the loan only, however, no address means NO payments, this is not negotiable.


so take out the part about regulation e and yes i have my account number on the original one. Is that one statement about wage assignment all i need? Also I am a school teacher and i though i read somewhere on here where i could not be garnished is that true.

Follow the link in my signature line. FIrst thing you need to do is ACH revocation...the info in the link will walk you thru it step by step.

have you dealt with any of these companies and does the bank give me the revocation form? SHould I be worried about these collection companies?

ok thanks for all the help here is where I am confused do i just alter that letter in her signature to suit my needs?

Yes the letter in the link is a template to get the general idea.. if after you do you letter you want to post here for us to look at first you can do that -

Here is an example of what I sent to one of mine a tribal lender.. "Great Plains Lending, Reference #xxxxxxxx It has come to my attention that this loan is illegal in my state, due the Small Loan Rate Cap of 36% per year in place in Arizona and not being licensed to do business in Arizona. Therefore, the loan contract that I have with you, according to my state’s laws, is not enforceable. I have contacted the Arizona Office of Financial Institutions and the Arizona State Attorney General’s Office regarding your internet loans and was informed they are indeed illegal in Arizona and was advised to pay what is due according to principle amount only of the loan. 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 (4/24/2012), and have had 9 bi-weekly withdrawals of $115.02 debited from my account. This results in an over payment of $535.18. 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 $535.18 over payment. A refund check of $535.18 should be mailed to me at the address you have on file. 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. 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 state Attorney General's Office. I prohibit you or your affiliates to contact me via telephone at my place of employment, my home or cell telephone number. I also prohibit you from calling my references listed on my loan. 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. "

Yes, and make sure they do not link the two - the old and the new in any way..

Thanks. My bank has agreed to let me open a new account. Should I go and do that?

HAVE YOU DONE THE ACH REVOCATION????

You need to follow the link in my signature line....you MUST CLOSE your bank account after you give copies of the ACH revocation to your bank. You do NOT want them withdrawing ANYTHING from your account. You pay them on your own schedule via US postal money order. DO NOT TRUST A WORD THAT THEY SAY!!!!!!!!!!!!!!!!!!!

I think the letter sound fine.I don't know if you need the part in about REG E, just telling them that you are revoking ACH is all you need to do they know the law. and you have made sure your bank account is secure - if yes then I would send to them - I referenced my loan number with them. I sent all of mine via their own websites through customer service, I got an email confirmation back right away that they had received.

do you guys mind if i put up my letter and yall take a look at it