Letter to Preferred Cash Loans dba One Click Cash

All,

I finished one of letters to one of my several pdl's and was hoping you could provide feedback. I modified the letter with the templates and other users examples from this board it was a tremendous help. Let me know if I need to add/delete anything and I would like to thank you all of you cause now I know I have some room to fight these pdl's back.


September 21, 2006



Lisa
[color=red]Personal info removed for your safety - Mike[/color]


Preferred Cash Loans dba One Click Cash
oneclickcash.com
2533 N Carson St, Ste 5024
Carson City, NV 89706
Phone: 1-800-230-3266
Fax: 800-803-9136
To Whom It May Concern:

As of today September 21, 2006 I do not authorize Preferred Cash Loans dba One Click Cash, nor any representative, parent company, affiliate, or subsidiary of Preferred Cash Loans dba One Click Cash, to withdraw any funds from the checking account under the name of Lisa **** account number 0008*******, located at ****

Your company is in violation of Ohio Revised Code Ann Section 1321.02. License; exceptions and Ohio Consumer Protection Law 1345.03 by committing "Unconscionable consumer practices".

Quote:

1321.02. License; exceptions. No person shall engage in the business of lending money, credit, or choses in action in amounts of five thousand dollars or less, or exact, contract for, or receive, directly or indirectly, on or in connection with any such loan, any interest and charges that in the aggregate are greater than the interest and charges that the lender would be permitted to charge for a loan of money if the lender were not a licensee, without first having obtained a license from the division of financial institutions under sections 1321.01 to 1321.19 of the Revised Code. Sections 1321.01 to 1321.19 of the Revised Code do not apply to any person doing business under and as permitted by any law of this state, another state, or the United States relating to banks, savings banks, savings societies, trust companies, credit unions, savings and loan associations substantially all the business of which is confined to loans on real estate mortgages and evidences of their own indebtedness; to registrants conducting business pursuant to sections 1321.51 to 1321.60 of the Revised Code; to licensees conducting business pursuant to sections 1321.71 to 1321.83 of the Revised Code; to licensees doing business pursuant to sections 1315.35 to 1315.44 of the Revised Code; or to any entity who is licensed pursuant to Title XXXIX of the Revised Code, who makes advances or loans to any person who is licensed to sell insurance pursuant to that Title, and who is authorized in writing by that entity to sell insurance. No person engaged in the business of selling tangible goods or services related thereto may receive or retain a license under sections 1321.01 to 1321.19 of the Revised Code for such place of business. The first paragraph of this section applies to any person, who by any device, subterfuge, or pretense, charges, contracts for, or receives greater interest, consideration, or charges than that authorized by this section for any such loan or use of money or for any such loan, use, or sale of credit, or who for a fee or any manner of compensation arranges or offers to find or arrange for another person to make any such loan, use, or sale of credit. This section does not preclude the acquiring, directly or indirectly, by purchase or discount, of a bona fide obligation for goods or services when such obligation is payable directly to the person who provided the goods or services. Any contract of loan in the making or collection of which an act is done by the lender that violates this section is void and the lender has no right to collect, receive, or retain any principal, interest, or charges.

Your claim that the contract I signed is only governed by the law in which your company resides is unsubstantiated. Your company solicited, accepted, and transacted business with a citizen of Ohio. Thus you are subject to the laws of this state.

I am offering Preferred Cash Loans dba One Click Cash an opportunity to settle this account. To date I have paid a total of $735 on a $300 payday loan with your company. I have paid you a total of $585 in interest and fees, and $150 on the principal balance on a $300 loan.

Since Ohio law only allows a maximum of $55 to be charged on a $300 payday loan, I have been illegally charged $530 in interest and fees. I was able to go back with my online bank account to verify the information.

- Reference Ohio Department of Commerce Division of Financial Institutions
Office of Consumer Affairs “Payday Loans”

Thus, I am expecting Preferred Cash Loans dba One Click Cash to mark the account paid under the name Lisa E. Camargo “paid in full” and a refund of $530, the amount I have been overcharged.

All telephone communication to my home or place of employment, and references are to cease and desist. All correspondence as of today shall be in written form through e-mail or written letter through the United States Postal Service.

At no time will Preferred Cash Loans dba One Click Cash any representative, parent company, subsidiary, or affiliate of Preferred Cash Loans dba One Click Cash, place any derogatory mark on my credit report with any credit bureau, nor any other check writing database, such as Teletrack or an equivalent database. If Preferred Cash Loans dba One Click Cash does not abide to the settlement conditions stated above, I will have no choice but to file a civil suit against Preferred Cash Loans dba One Click Cash for the monetary damages that I am entitled to per Ohio.

I would like to thank you in advance for your prompt attention and cooperation in the matter. Also, please be advised that a formal complaint has been filed with the Ohio Attorney General's Office on September 21, 2006.

Sincerely,



Lisa

cc: Charter One Bank F.S.B

Personal info removed for your safety - Mike