First Day Of The Rest Of My Life

Hello,

The purpose of this thread is to document my progress in getting out from under 3 illegal payday loans:

USFastCash
EverestCashAdvance
OneClickCash

I have closed my bank account and have sent letters to the lenders.

What next? How long until they respond? These loans are due to be taken out on 7/20, so I guess I won't hear anything until then?

here is the letter I sent:
To Whom It May Concern:

Recently it has come to my attention that the Payday Loanthat has been offered to me is non-compliant with Minnesota State Law. Pleaserefer to the following information below provided by the Minnesota Departmentof Commerce with regards to short-term loans:

The Minnesota Department of Commerce announcedtoday it is now requiring all payday lenders making small denomination,short-term loans to Minnesota residents via the internet be licensed pursuantto Minnesota law. Licensing is requiredregardless of whether the lender has a physical presence in Minnesota.Payday lenders will also be required to comply with the limits on loan amounts,fees and charges, and other requirements of state law.

After further review of Minnesota law and statutethe Department is now of the opinionthat a payday loan made via the internet is made in the state where theborrower resides and thepayday lender making such a loan is subject to Minnesota laws and licensure.As a result, all payday lenders making loans to Minnesota residents via theinternet must meet the new licensing requirements effective December 1, 2008.

To myknowledge, your company is not licensed by the State of Minnesota to offerloans to Minnesota residents. Also, there are a number of facets of the loanwhich are also illegal under Minnesota State Law including the interest rateand rollovers. As such, it is of the view of Ms. Lori Swanson, the AttorneyGeneral of the State of Minnesota (who I have been in contact with, and is CC’don this email), that the loan I have with US Fast Cash is illegal underMinnesota State Law.

I herebyrevoke any and all ACH authorizations with your company from debiting any of mypersonal accounts, per Federal law, Regulation E Section 205.10 Preauthorizedtransfers. I have closed my account with Anchor Bank to protect my interest inthis matter, per instructions from the Minnesota State Attorney General’sOffice. I also revoke any and all wage assignments I may or may not have signedwith your company I no longer authorize you, your company, or your affiliatesto attach any part of my wages or contact my employer for your collectionpurposes. I have notified my employer about this matter so any attempts to doso on your part will be rejected.

Furthermore,I demand that any contact be made through US Postal mail or email only. I willneed everything in writing to keep accurate records of all communication as perinstruction from the Minnesota State Attorney General’s Office. Mail can besent to the address at the top of this letter. I have also included my emailaddress.

Iprohibit you or your affiliates to contact me via telephone at my place ofemployment or my home telephone number. I also prohibit you from contacting myreferences listed on my loan.

To date, I have made payments totaling $550 on a $500 loan. I willconsider this matter to be paid in full and will not demand a $50 refund, eventhough I am entitled to one. Please provide me with an email or letterconfirming that this account is paid in full.

I must also inform you that I am filing complaints with the BetterBusiness Bureau and Federal Trade Commission. I have also been in contact withthe Office of Lori Swanson, the Attorney General for the State of Minnesota andhave a complaint against US Fast Cash already on file regarding this deceptive,unethical and illegal business practices.

I expect a response from your company no later than 5 days fromthe above date regarding this matter. This response may only come via US Postalmail or email. No telephone contact is permitted.