Help with illegal lender letter
Make sure you insert your state in the areas which say "Your Sta
Make sure you insert your state in the areas which say "Your State", also remove the part that says they aren't licensed in the state of Pa because of the loophole. Whet ever state a pdl is licensed in, is the state law you have to abide by. I know that sucks but it's just the way it is. :?
Quote:Remember, I live in PA so even those these companies are i
Quote:
Remember, I live in PA so even those these companies are illegal, pdl's are legal in PA |
MTE is not licensed anyplace, so they are not legal in PA.
Diane, Good catch...it is different for PA residents because
Diane, Good catch...it is different for PA residents because of the licensing issues. Try using these changes as guidelines. I posted the original paragraph and then the changes under it...Feel free to change my wording, I was trying to giv you an idea of what the paragraph sould sound (read) like.
Quote:
Your company should actually not issue loans to PA residents at all as you are not licensed in PA |
Change to.....
Quote:
Your company should actually not issue loans to PA residents at all becuase you are not licensed in any state. |
And
Quote:
I have contacted the PA Office of Financial Institutions and the PA State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in PA and was advised to pay what is due according to principle amount only of the loan. |
Change to...
Quote:
I have contacted the PA Office of Financial Institutions and the PA State Attorney General????????s Office regarding your internet payday loans and was informed that you are operating illegally in PA and was advised to pay what is due according to principle amount only of the loan. |
And this paragraph....
Quote:
The legal amount that could have been charged to my loan is the principal amount of $XX even if your internet pay day loan was legal in YOUR STATE. I only owe $XXX to have this paid in full as your company has exceeded the maximum loan amount and has exceeded the maximum finance rate and fees. I am willing to pay the amount of $XXX to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and my state Attorney General's office. |
Change to....
Quote:
Due to the fact that you are not licensed anywhere, the legal amount that could have been charged to my loan is the principal amount of $XX . I only owe $XXX to have this paid in full . I am willing to pay the amount of $XXX to pay the principle amount of the loan only, as advised by my Department of Financial Institutions and my state Attorney General's office. |
I would kiss you guys if you were here. How did you get to know
I would kiss you guys if you were here. How did you get to know so much.
Diane
Thanks Shazzers... Diane, We are happy to help. We have be
Thanks Shazzers...
Diane, We are happy to help. We have been there and have survived the insanity. And I for one have had some really great teachers on this fourm. You learn a lot when you go through this mess. :lol: