Pd loans

Dear Sir/ Madam,

I am presently going through some financial difficulties and fear that I will not be able to meet my monthly payments to you. I do not want to declare bankruptcy and want to try and work out an alternate payment plan, so that I don't have to default on this debt.
I would like to suggest a strategy if it is acceptable. If you could close my account, waive the interest payments and accept a new balance of <50> of what I currently owe, I can afford to make a monthly payment of $20 a month on the 25th of every month by money order only and I will pay the principle amount of the Original loan of $250.00.

I am sure you will agree to the situation which has caused this fallout. Please feel free to have one of your representatives E-mail/ call me and work out the final strategy.
If you feel, you cant adjust the payment plan,. I intend to pay creditors who can work for me. Furthermore, I would like inform you that the follow was sent to Cash Direct Express, GECC They are illegal and unlicensed in the State of Oregon, I Have also filed a complain with FTC, In the State of Oregon PayDay Loans must be licensed, if they are not I only have to pay the principle amount back. I will hear from you soon.

Dear, Cash Direct Express, GECC
Account Number: ?
November 07, 2008

This letter is to inform you that I am revoking any and all wage assignments I may or may not have signed with your company. I am also revoking all of your rights to any and all ACH transactions to any and all of my personal accounts. You may only contact me through email or USPS. I will not accept any other form of communication from you. I would be most happy to set up payment arrangements with you, however, I will need a physical address to send my payments to, in the form of a money order ONLY. Cash Direct Express, GECC will not contact my employer, family, friends, or any of the references listed on your loans. I'm also aware that Cash Direct Express, GECC is illegal and unlicensed to lend to consumers in the State of Oregon.
I will pay back the principal amount of the loan ONLY, via USPS with money orders only.

Electronic Funds Transfer Act

907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

Oregon State Information

Legal Status: Legal

Citation:
54 Or. Rev. Stat. Ann. § 725.600 et seq.

Loan Terms:
Maximum Loan Amount: Not Specified
Loan Term: Min. 31 days
Maximum Finance Rate and Fees: 36% apr interest, $10/$100 fee up to $30
Finance Charge for 14-day $100 loan: $13 for 31 day loan
APR for 14-day $100 loan: 156% APR for 31 day loan

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Two (renewals)
Cooling-off Period: 7 days after prior loan expires
Repayment Plan:

Collection Limits:
Collection Fees: One $20 NSF fee + additional bank charges
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Oregon Department of Consumer & Business Services
Address: Division of Finance & Corporate Securities, 350 Winter St. NE, Rm. 410 Salem OR 97301
Phone: (503) 378-4140
Fax: (503) 947-7862
Regulatory Contact: Charles Donald,, Supervising Examiner, Non-depository Programs