Need some critique-Letter to Mobiloans

I'm confused and want to clarify -- you borrowed $600 - Have you only paid $185? if so then you would owe - $415 towards the principal balance and would want to set up a payment arrange that is on your terms only..what is this sentence about,"I also have had a grand total of $690 in fees charged to me in 2013, which shows an over payment on this account of $275." - you don't care about fees unless you have paid them - how much have your paid to date? i don't suggest paying them via credit card - money order is the best, cheapest route for you!! - Lets clear this up and your letter should be OK... You don't want to put that you owe and that there has been an over payment....

Hi HelpinAZ,
Thanks for your response. The thing is I would take $600, then pay say $660 when it was due. Next time, take $600 then pay back $725 total, etc. Continuous cycle.
Can I try to get them to put those past fees towards this loan balance or not? And, thanks for the tip about money orders as well...I def. change that!

I would figure up what you paid in fees and deduct from the principal balance.. so in reality you were paying off and re borrowing? That is why we look at total borrowed and then total paid to date.. easier to figure out if owe or due a refund.. Try to figure this out and we will have the answer... but should not put both in one letter, they will just use against you... thinking you don't understand.. we don't want that to happen - I am guessing you may not owe anything - but will need to know the above first to answer for sure.

HelpinAZ,
You are correct in me paying off the balance and then reborrowing. So, what I described in the letter is the last loan transaction and the first payment I've made towards that transaction. In your opinion, is it worth trying to get them to credit the previous fees/charges from other loans to the principal here or just get them to agree to the principal payments and be done?

Pay by POSTAL MONEY ORDER....do not pay by credit card. Mail them the payment at YOUR convience.

they won't agree to anything,but the principle plus interest.however since they are illegal you do deduct interest paid on previous loans to this one.don't look for an illegal lenders approval.that's insane!you take every 125.00 overpayment and deduct that from the 600.00 currently out.never pay an illegal a penny more than they are entitled to.that is a win for them.

Thanks SoapLady..I will be doing that for sure instead of by the credit card (I was going to use a prepaid card anyways). Should I just not give dates and say I will pay them when I want?
Paulmergel - should I just not try to do payment arrangements and get them to PIF it based on the previous fees I was assessed?

OK - I'm gonna try one more time to explain.. you take the total of all borrowed - every single one.. then you add up all you have paid total and subtract from the amount borrowed.. if you over paid you ask for a refund - but demand a PIF -- if you still owe on principal then you tell them how and when you will pay and when the agree you pay - if they don't agree to what you say then they get nothing..

example -- say you borrowed $600 4 times - that would be $2400 - then you paid back $660, $725, $725 and then one payment on last one of $185 = $2235 - then you would still owe $165 only... hope this helps it make more sense...

OK, sorry HelpinAZ for being such trouble....
Just figured it up for 2013. I have had 5 loans for $600 each ($3000).
I've paid them a total $3745 out of my checking account as of today.

they owe you.close your account and follow the steps in helpinaz's signature.

Glad that helped,... and no trouble - I just didn't think I was making it make sense to you.. so when you lay it out in your letter you will want to state just that.. you can ask for a refund of $745 - but you will be demanding a PIF on the account for over payment...

OK HelpinAZ...Can you give this a look over?
Dear Mobiloans,

It has come to my attention that payday lenders must be licensed by the state of Texas in order to offer loans to its residents. Since your company has no license in Texas, the loan contract I have with you is not valid. Although I am not legally required to do so, I am willing to repay the principal balance of this loan. To date, I received 5 deposits totaling $3,000, and have had 12 withdrawals totaling $3,745 debited from my checking account. This results in an overpayment of $745.
At this time I am requesting a return email acknowledging that my loan has been paid in full. Also, I would like a refund of the $745 overpayment. A refund check of $745 should be mailed to me at the address you have on file.

I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. Any future attempts to collect funds in this manner will be blocked. I also revoke authorization for you to contact myself or any references that are listed on my application or account. All communication shall be written for the benefit of your company and myself. Also, I request my account to be deactivated and closed.

Please respond to this email with acknowledgment that my account has been satisfied in full. Details of when I can expect the refund check, as discussed above, should also be included in the email.

I wouldn't expect a refund, just a PIF. Good luck

Thanks cb. You are right, I am not expecting a refund but to not have to pay them the additional $415 would be great as a PIF.

The letter looks great!! you will not be paying them any thing else - you have over paid period.. You have your bank account secure prior to sending this correct?

OK, email sent. I will let you know what I receive back.
Thanks to everyone for their advice & help. I'm knocking these off one at a time!

Just one quick question your bank account is secure - Yes!! Keep us posted on progress...

Yes, but their terms and conditions do say that if I revoke the ACH 3 business days before payment by calling and/or writing to them (next payment is Aug. 2nd btw), they are liable if they take money out.

Yeah - know what they say -- also know what they will try... :) You are talking about lenders that know they are crossing the laws to begin with - you think they will follow that law?

Like helpinaz said these guys don't play by the rules so be sure you have closed your account. Don't bank on them doing the right thing. Protect yourself!

Haven't heard back from them yet on the email, so I went ahead and faxed in the same letter today.

Did you send the email to them from their own site? That is how I recommend - straight from their contact us page - copy and paste your letter in - you should at least get a generic something back saying they received that way.. subject of message could be other or cancel my payment or line of credit..

I emailed it to support@mobiloans.com, accountservices@mobiloans.com and now just sent it through their website.
I also FAXed a copy of the letter today. Although I haven't received anything from them, it looks like they took the ACH off as it says "Please call Customer Service at 877-836-1518 to make a payment."

That is a good sign!! :) Keep us posted..