Payday loan yes
Date: Mon, 05/03/2010 - 10:10
I have been dealing with Payday-loan-yes and let me tell you are unwilling to do anything.
I have written a revoke there ACH right and they withdrew 350.00 from account so I put a stop pay on the item. The bank honored it. But now I'm getting the threatening calls. There using very bad language at me. Telling me that I need Therapy and that I need to get the stick out of my butt. I have told them I forward everything up to the FTC and they don't care.
This is the last letter that they sent.
Your account is now 30 days past due. Your bank has returned payment as listed below and you are now in the collections process.
1 ST RETURN - R08 STOP PAYMENT ON ITEM - Returned for 350 04/13/10
This is what you did you took a loan on 03-15-10 for $350 and promptly went to your bank and stopped payment, This is theft by deception and is a Felony in the State of Missouri and you are subject to civil penalties. I just contacted your corporate office from your H/R Dept at ******. Be advised that we will use the laws within your state to collection any and all monies due.
As of today, your total account balance is due $380; loan payoff is for $350 payment arrangements are for two (2) payments $175 due on 05-07-10 and 05-21-10, this will close your loan account. Payment method is Visa or MasterCard debit/credit only. See your email payment instructions listed below.
Payment Instructions
To confirm this payment agreement you can:
1). Call me today, Karen Lamb at ( 1-800-654-7444, ext. 846 ) with your Visa or MasterCard information
2) Email me back today with your Visa or MasterCard information, see payment form listed below.
Regards,
Karen Lamb
Advanced Collections
Phone: 800-654-7444, ext. 846
Office Hours Monday thru Friday
8:00 A.M. to 5:00 P.M., EST
So this is what I sent back
Karen,
Regulation E
Sec. 205.10 Preauthorized
(c) Consumer's right to stop payment--(1) Notice. A consumer may stop
payment of a preauthorized electronic fund transfer from the consumer's
account by notifying the financial institution orally or in writing at least
three business days before the scheduled date of the transfer. Which is the
Revoke of ACH auth that I sent you on March 29th after I realized that you
are ILLEGAL in the state of Missouri. It also states that you are not
allowed to contact no one at my job. So I know have that in my favor.
By this and Missouri I didn't break the law and for you not willing to
listen I forward this to the FTC and the Missouri Division of Finance. You
have to be licensed and you have to display that to the customer. With out
the license for the state of Missouri you are ILLEGAL and the Attorney
General does not like that and will stand by a consumer's side. You tried to
take the ACH with draw out of my account on April 23rd. YOU HAVE BROKEN THE
LAW!
Now Again I have been willing to pay back the principle but now I'm only
going to pay back $245.00. The fees that you have are now Null and Void
unless you can come up with a license from Missouri. So 350 - 105 it's now
245.
This is what she had to say after that.
Your loan payoff offer as listed below will expire today at 1:00 PM, EST.
Unless you are confirming payment any further emails will be deleted.
I appreciate your prompt response, however, your email is not the required payment confirmation. To take advantage of the loan payoff you will need to email back today your complete payment authorization, which you will find listed below in my original email. Once you have done that I will then be able to freeze your account balance and remove you from further collection actions. Otherwise, you will continue in all collections aspects. Good luck to you.
Regards,
Karen Lamb
Advanced Collections
Phone: 800-654-7444, ext. 846
Office hours Monday thru Friday
8:00 A.M. to 7:00 P.M., EST
So I again sent her this.
Karen,
I stating the loan laws
Sections 408.500, 408.505, and 408.506 make up the entire law concerning payday loans (a.k.a. "small, small loans") which are loans of $500 or less. Such lenders must be licensed by the Division of Finance. Sections 408.500-408.505 subject this type of lender to a host of consumer safeguards, i.e., places a 75% cap on interest and fees on the initial loan and renewals, limits renewals to no more than six, limits the term of the loan to 14-31 days, applies daily interest calculations, etc. These sections contain some provisions which go well beyond most "consumer protections": for example, the lender must conspicuously post rates and a borrower who repays a loan before the close of the lender's next full business day pays no interest or fees. Related regulations are found at 20 CSR 1140-11.030 through 20 CSR 1140-11.040.
You can find this on http://finance.mo.gov/consumercredit/paydaylenders.php
Am I doing this the right way?
I have written a revoke there ACH right and they withdrew 350.00 from account so I put a stop pay on the item. The bank honored it. But now I'm getting the threatening calls. There using very bad language at me. Telling me that I need Therapy and that I need to get the stick out of my butt. I have told them I forward everything up to the FTC and they don't care.
This is the last letter that they sent.
Your account is now 30 days past due. Your bank has returned payment as listed below and you are now in the collections process.
1 ST RETURN - R08 STOP PAYMENT ON ITEM - Returned for 350 04/13/10
This is what you did you took a loan on 03-15-10 for $350 and promptly went to your bank and stopped payment, This is theft by deception and is a Felony in the State of Missouri and you are subject to civil penalties. I just contacted your corporate office from your H/R Dept at ******. Be advised that we will use the laws within your state to collection any and all monies due.
As of today, your total account balance is due $380; loan payoff is for $350 payment arrangements are for two (2) payments $175 due on 05-07-10 and 05-21-10, this will close your loan account. Payment method is Visa or MasterCard debit/credit only. See your email payment instructions listed below.
Payment Instructions
To confirm this payment agreement you can:
1). Call me today, Karen Lamb at ( 1-800-654-7444, ext. 846 ) with your Visa or MasterCard information
2) Email me back today with your Visa or MasterCard information, see payment form listed below.
Regards,
Karen Lamb
Advanced Collections
Phone: 800-654-7444, ext. 846
Office Hours Monday thru Friday
8:00 A.M. to 5:00 P.M., EST
So this is what I sent back
Karen,
Regulation E
Sec. 205.10 Preauthorized
(c) Consumer's right to stop payment--(1) Notice. A consumer may stop
payment of a preauthorized electronic fund transfer from the consumer's
account by notifying the financial institution orally or in writing at least
three business days before the scheduled date of the transfer. Which is the
Revoke of ACH auth that I sent you on March 29th after I realized that you
are ILLEGAL in the state of Missouri. It also states that you are not
allowed to contact no one at my job. So I know have that in my favor.
By this and Missouri I didn't break the law and for you not willing to
listen I forward this to the FTC and the Missouri Division of Finance. You
have to be licensed and you have to display that to the customer. With out
the license for the state of Missouri you are ILLEGAL and the Attorney
General does not like that and will stand by a consumer's side. You tried to
take the ACH with draw out of my account on April 23rd. YOU HAVE BROKEN THE
LAW!
Now Again I have been willing to pay back the principle but now I'm only
going to pay back $245.00. The fees that you have are now Null and Void
unless you can come up with a license from Missouri. So 350 - 105 it's now
245.
This is what she had to say after that.
Your loan payoff offer as listed below will expire today at 1:00 PM, EST.
Unless you are confirming payment any further emails will be deleted.
I appreciate your prompt response, however, your email is not the required payment confirmation. To take advantage of the loan payoff you will need to email back today your complete payment authorization, which you will find listed below in my original email. Once you have done that I will then be able to freeze your account balance and remove you from further collection actions. Otherwise, you will continue in all collections aspects. Good luck to you.
Regards,
Karen Lamb
Advanced Collections
Phone: 800-654-7444, ext. 846
Office hours Monday thru Friday
8:00 A.M. to 7:00 P.M., EST
So I again sent her this.
Karen,
I stating the loan laws
Sections 408.500, 408.505, and 408.506 make up the entire law concerning payday loans (a.k.a. "small, small loans") which are loans of $500 or less. Such lenders must be licensed by the Division of Finance. Sections 408.500-408.505 subject this type of lender to a host of consumer safeguards, i.e., places a 75% cap on interest and fees on the initial loan and renewals, limits renewals to no more than six, limits the term of the loan to 14-31 days, applies daily interest calculations, etc. These sections contain some provisions which go well beyond most "consumer protections": for example, the lender must conspicuously post rates and a borrower who repays a loan before the close of the lender's next full business day pays no interest or fees. Related regulations are found at 20 CSR 1140-11.030 through 20 CSR 1140-11.040.
You can find this on http://finance.mo.gov/consumercredit/paydaylenders.php
Am I doing this the right way?
I am a little bewildered by TMI here! How much did you borrow an
I am a little bewildered by TMI here! How much did you borrow and how much have you paid! I am sure it is in there somewhere but there is too much reading for my ADD.
Sorry I have to say everything. I borrowed 350 and they took 105
Sorry I have to say everything. I borrowed 350 and they took 105 already. I told them that the contract is null and void because they are iLLEGAL in missouri. They told me that I have to pay 350. I told them I would pay 245.00 which is minus the 105 that I already paid to them.
They aren't licensed to lend ANYwhere in the U.S., you need to c
They aren't licensed to lend ANYwhere in the U.S., you need to close your account asap because it will never be safe again. CLICK HERE to find out how to deal with unlicensed lenders.
Thank you very much i will be contacting my bank now.
Thank you very much i will be contacting my bank now.
First you need to stop making anymore payments to them.In order
First you need to stop making anymore payments to them.In order to do so the best option is to close your bank account,& in terms of harassment calls & abusive languages, you can have a recording of that call & launch a complain against them to take necessary action,because they are not legal at your borrower..
Quote:Originally Posted by shane rogersFirst you need to stop ma
Quote:
Originally Posted by shane rogers First you need to stop making anymore payments to them.In order to do so the best option is to close your bank account,& in terms of harassment calls & abusive languages, you can have a recording of that call & launch a complain against them to take necessary action,because they are not legal at your borrower.. |
Yes I agree, I have been making sure that they are not allowed in my account. I told them that I would pay the amount owed which is 245. They say that I owe 380. I told them that I was willing to pay 245. They said no way and that I messing with the wrong company. They even sang the song Breakin the law to me. It had me laughing and they got mad. I have only paid them 105. I borrowed 350 so I took 105 from 350.
Quote:Originally Posted by AnonymousYes I agree, I have been mak
Quote:
Originally Posted by Anonymous Yes I agree, I have been making sure that they are not allowed in my account. I told them that I would pay the amount owed which is 245. They say that I owe 380. I told them that I was willing to pay 245. They said no way and that I messing with the wrong company. They even sang the song Breakin the law to me. It had me laughing and they got mad. I have only paid them 105. I borrowed 350 so I took 105 from 350. |
You doing the right thing mate.Close your a/c ASAP. As far as the threatening calls are concerned, believe me they can't go beyond threatening you.