Lighthouse Recovery & MTE Financial
Date: Wed, 05/13/2009 - 07:16
Could someone please review a letter I plan on sending to LRA and tell me if this is the direction I should go with them.
This letter is in regards to my account that your company is collecting for MTE Financial.
The State of Michigan requires that any payday loan company be licensed in order to provide a loan to a Michigan resident. MTE Financial is not licensed by the State of Michigan. Michigan law also requires collection agencies to be licensed as well. My research shows that your company’s license expired in 2007.
Therefore, since your client provided an illegal loan, I am inclined only to pay back the principal.
On 9/23/08, $300.00 was deposited into my checking account by MTE Financial. On 2/17 and 3/2/09, ACH withdrawals were made by your company totaling $303.00.
Based on that, I consider the account to be paid in full. I demand that you cease and desist any further communication with me, my employer or any reference listed.
[font=Tahoma][/font][color=Black][/color][size=3][/size]
Any advice or hints truly appreciated.
This letter is in regards to my account that your company is collecting for MTE Financial.
The State of Michigan requires that any payday loan company be licensed in order to provide a loan to a Michigan resident. MTE Financial is not licensed by the State of Michigan. Michigan law also requires collection agencies to be licensed as well. My research shows that your company’s license expired in 2007.
Therefore, since your client provided an illegal loan, I am inclined only to pay back the principal.
On 9/23/08, $300.00 was deposited into my checking account by MTE Financial. On 2/17 and 3/2/09, ACH withdrawals were made by your company totaling $303.00.
Based on that, I consider the account to be paid in full. I demand that you cease and desist any further communication with me, my employer or any reference listed.
[font=Tahoma][/font][color=Black][/color][size=3][/size]
Any advice or hints truly appreciated.
maybe you shouldn't say "inclined". it sounds as if you are only
maybe you shouldn't say "inclined". it sounds as if you are only thinking about paying back the principal. say something like, " required". Also, i don't know if you made an error in the letter or not, but they began their ACH withdrawals 5 months after you received the loan? I also would put in the letter that you hereby revoke ACH transactions this way you have proof that you said that and that you "demand" that the account be paid in full. and if you want to tell them that all communication be made via postal mail or e-mail only. These are just some suggestions that I followed using the letters found on this website. good luck to you. :)
