Payday Loan Company

No. If they don't want to respond that's their problem.

I received a response from Galaxy Marketing concerning the letter I sent yesterday:

I have emailed you a copy of your original loan agreement, and ACH Authorization. You did agree to be governed under the state laws of Delaware, not Virginia. You solicited our loan via the world wide web, which has different rules and regulations than normal store fronts. For example, say your state imposes an 8% sales tax on clothing purchased at retail in your state. You can buy an outfit in store and be imposed the sales tax, or you can possibly find the same outfit at an online retailer, and possibly avoid having to pay that sales tax, because the online store is in a different state. This happens all the time. There was a supreme court decision involving this issue, that the court ruled that a creditor can extend credit to residents of another state, and export the allowable interest rates from the state that the lender is located. Most credit card companies use this same tactic.
You certainly have the right to revoke any ACH authorization that you have agreed to previously. There is a federal law that allows you to do that. The authorization agreement I sent you also clearly states that you have that right. When you revoke ACH authorization, at the same time, you authorize us to create one or more physical checks to draw from your account any remaining balance. Your total balance remaining is $390.00.
You also failed to copy and paste the entire letter template. I have seen this letter hundreds of times. Normally, it says:

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 principle amount of the loan only, however, no address means NO payments, this is not negotiable.

However, on your version of this same letter, you cut out the good parts about being willing to pay back the amount you ???borrowed???. The borrowed is in quotes here, because that typically means you have an intention to pay it back, but based on your cut job on your version of this letter, it is implied that you do not even intend on returning the money we gave you in the first place. If you reply agreeing that you will not file any formal complaints against Galaxy Marketing, we will accept $210.00 as payment in full. That is the $300.00 we sent you, minus the $90.00 payment you have made so far. Once that payment is received, you will receive a paid in full letter for your records. Alternate methods of payment accepted are Visa, Master Card, Money Order, or we can exercise the option you gave us to submit a physical check against the account we have on file for you to collect the full balance owed of $390.00.

Thank you,
Dennis

Client Solutions
Monday ??? Friday
8:00AM ??? 4:30PM
Fax: 866-202-4634

If I reject the ACH authorization, how can they still take a physical check out of my account?

Also, If you reply agreeing that you will not file any formal complaints against Galaxy Marketing, we will accept $210.00 as payment in full. << Is the basically admitting they are illegal? Why would they be worried I am going to file a complaint if they are "in the right" as he states at the beginning.

He also references Credit Card companies, I think he has forgotten they are a member of the FDIC.

This is what you say back:

Dennis,

If you try to withdraw 390 dollars from my account via creation of a physical check, not only will I call my bank and file an unauthorized charge claim, but I will encourage my bank to file a police report regarding this as well, and I will also make clear to them that I will be more than cooperative in their efforts with the relevant authorities.

Now that that is settled, you have one option here - take my 210 dollars through debit card, or drop dead. I refuse to agree to not file any type of complaint. In fact I have already filed relevant complaints, and I am drafting one now with regard to you threatening to illegally convert EFT into phsyical check in the amount of 390.00 from me.

So what will it be? The 210 dollars, or would you prefer federal authorities knocking down the door to your boiler room office and hauling you in for check fraud and violating the EFTA?

Love,

Your customer


If you want to get into the laws with him (he knows his operation is illegal) then you can state that in Virginia, any lender in the commonwealth needs to be licensed, whether it be online or storefront.

Thank you Waffles.

I have sent exactly that as my reply. Will see where it goes from here.

Even the "love" part? :D

HAHAHA dennis is in for it . Hes thinking he can scare you since you copy and paste but that email is gonna knock him off his seat

I knew that they were going to try 'scare' tactics and was prepared.

MyPayDayLoan.com tried to reference court cases from 1972, I would say laws have changed quite a bit since then so I emailed back and referenced cases from 2009-2012 and they have yet to respond. Wonder why?

I have made up my mind, they are NOT going to scare me, I am in the right and his comment that 'I not file any complaints' pretty much sums up he knows they are illegal.

I just sent an email to Great Plains Lending (sorry I said Plain Green in my original post, same company I believe though) concerning getting my refund of over payment.

Here is what I sent:

I noticed today when I logged in that it states I have invalid account information, I am guessing that means you did receive my ACH revocation.

I would like to put a request in to have my account marked paid in full and a refund issued in the amount of $429.02 mailed to the address provided on my account for over payment. This is the over payment I made on both loans I have had with your company. I am not entitled to pay anything as online payday lenders are illegal in my state however, I would just like the fees I paid to be refunded to me and my account marked as paid in full.

Thank you,

Hopefully they will oblige and I'll get the extra money I spent back. I paid more in fees than both the loans together =\

I can honestly state I have learned my lesson.