Letter to PDL Company
Date: Mon, 08/16/2010 - 12:32
Thanks
Sandpoint Capital LLC
Mark??????
Phoenix, AZ
Account # personal info removed for your security - Jason
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
Per Consumer Lenders Act Arizona. Rev. Stat 6-632 payday loans are prohibited in the state of Arizona.
The state of Arizon prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in your ??( therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today August 16th 2010 I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment.
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.
If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General **, the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in your state.
Sincerely,
Your Name
Very good! You can also send them a link to the letter below als
Very good! You can also send them a link to the letter below also!
http://azdfi.gov/news/AG_Letter_to_Payday_Lenders_060910.pdf
Quote:Originally Posted by ShazzersVery good! You can also send
Quote:
Originally Posted by Shazzers Very good! You can also send them a link to the letter below also! http://azdfi.gov/news/AG_Letter_to_Payday_Lenders_060910.pdf |
Thanks! I will attached the actually letter to the email. Should I also state that my bank account is closed and how much I have paid to them?
Quote:Originally Posted by AnonymousThanks! I will attached the
Quote:
Originally Posted by Anonymous Thanks! I will attached the actually letter to the email. Should I also state that my bank account is closed and how much I have paid to them? |
That would be a good idea.
Quote:Originally Posted by ShazzersThat would be a good idea.
Quote:
Originally Posted by Shazzers That would be a good idea. |
Here is the final draft:
8/16/2010
Sandpoint Capital LLC
Mark??????
Phoenix, AZ
Account # **
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
Per Consumer Lenders Act Arizona. Rev. Stat 6-632 payday loans are prohibited in the state of Arizona.
The state of Arizon prohibits payday loans, therefore, I am bound by the state laws where I reside. As I have no presence in your state, therefore I have no legal obligation to the 'governing laws' you may have detailed.
Be advised that as of today August 16th 2010 I am revoking ANY and ALL ACH authorizations with your company from debiting any AND all of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I also revoke ANY and ALL wage assignments I may have signed, by you, including but not limited to; any of your affiliates, dba's, and collection agencies assigned to this account. None of the above no longer have my permission to access my accounts or impose a wage assignment. I want to also inform you that my account has been closed and I have currently paid $180 dollars towards my loan. I will be willing to pay the remaining balance via USPS using money orders provided your company produces a valid mailing address for me to mail my payments into.
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.
If you do NOT reply to this notice within 48 hours I will be forced to file complaints with my Attorney General **, the BBB and the Federal Trade Commission. If you reply to this notice with any misleading legal implications or menacing course of actions you are unable to follow through with, I will be forced to take actions against you which could cause you to lose your license in your state. I have attached a letter from Arizona Attorney General ** regarding the new Arizona payday loan laws. You can also find the letter here:
http://azdfi.gov/news/AG_Letter_to_P...ers_060910.pdf
Sincerely,
Your Name
Dear Guest , please don't post personal information in an open f
Dear Guest , please don't post personal information in an open forum like this.
All the best !!
I am in a similar boat as you. I submitted my info to the lende
I am in a similar boat as you. I submitted my info to the lenders on Thursday of last week, giving them over 3 business days to notify them of my intent and that the bank accounts in question were closed It was an extremely good idea to mark down what you had paid out to them so far and that you would be willing to still pay the principle amount of the loan balance since the loans they provided in your state were in fact illegal.
The only mistake that I made, which I can live with, is that I had two loans out with Sandpoint previously. The last one was paid in March and I overpaid in fees to the tune of what I owe them in principle now. I have the documentation of this, however, and plan on using that as leverage use the sharks come to play. At this point it should be a wash.
Best of luck to you - I do have a question, though. Did your contact @ Sandpoint attempt to reach you after you sent the letter? I submitted the ACH revocation letter three ways:
Fax
e-mail (in which both the e-mail message and Word .doc contained the same message)
Certified mail
I know that each of my lenders received the letter because I received a response denying my request to revoke the ACH on my Advance America loan and the rep I had with Sandpoint tried calling me. (But hung up when she was asked what company she was calling on behalf of)