I need a new letter PLEASE HELP

(name
Last 4 of SS#:xxxx

xxx

Email:

To Whom It May Concern:

Effective immediately, I hereby revoke authorization to xxx or any representative, parent company, affiliate, or subsidiary of xxx, to withdraw any funds electronically from my checking account ending in , xxx in the name of xxxxx. The account has been frozen to all further activity from this company, so any attempts to debit this account will be returned. I also revoke any wage assignments that may be involved from your company or any of your affiliates. I request that my balance be marked paid in full for the loan in the amount of $200.00. I took out with your company on which you began debiting my account. This is a grand total of $450.00 debited from my account for a $200.00 loan. I have become aware that since such time as I have been affiliated with your company, I have paid disproportionate amounts of interest over the course of such affiliation. Upon research of Indiana State law, I have discovered that xxxx is not legally authorized to lend to residents in Indiana. Therefore, xxx is in violation of Indiana usury, interest rate cap, and licensing requirements, as well as wrongful credit practices and related offenses.
Indiana State Information
Legal Status: Legal
Citation:
Ind. Code Ann. ???? 24-4.5-7-101 et seq.
Loan Terms:
Maximum Loan Amount: $500 (not to exceed 15% of borrower's monthly gross income)
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: 15%: $0-$250; 13%: $251-$400; 10%: $401-$500
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per lender; Two total
Rollovers Permitted: None (cannot renew, repay, refinance or consolidate)
Cooling-off Period: 7 days after 6 consecutive loans
Repayment Plan: After 6 consecutive loans, lender must impose a 7 day cooling off period or convert to an installment loan payable in more than 4 installments at a rate no greater than 36% APR
Collection Limits:
Collection Fees: One $20 NSF fee; additional charges may apply when check or authorization to debit was used to defraud another
Criminal Action: Prohibited





Now once again, in reference to my current loan with your company, I am formally requesting substantiation of all interest and principal payments made by me to your company on the loan received. The amount of interest you have charged me is well in excess of Indiana State mandated interest rate cap for short-term loans. As stated above a lender cannot exceed an amount of $15 of the loan whichever comes first. Therefore, in view of the information detailed above, I am willing to settle this matter with you and seek such refund as I am entitled to by law. I expect SJM Marketing, to immediately mark my account ???????Paid in full???????. Further, at no time will xxx, nor its representative, parent company, subsidiary, or affiliate, place any derogatory mark on my credit report with any credit bureau, nor with any check writing database such as Teletrack or equivalent. In the event you decide to affect one, I hereby revoke any wage assignment you may attempt to implement on this account. To reiterate, please accept this as formal revocation of any authorization for you to make any debits from this date forward. The checking account of record, ending in xxxx, in the name of xxx, will no longer honor any form of debit from you. I will except a letter stating that my account is "Paid in full" via United States Postal Services at my home address (xxxx) or E-mail (xxxx). If I do not hear from you by December 1, 2006, I will assume that you are refusing. I will then contact the Indiana Attorney General again to advise them you are refusing. Then I will also proceed to contact the State Attorney General where you are physically located to file a formal complaint with their office also. Finally, do not attempt to call me at work or home (my company has already been notified of this situation and has stated in the case that xxx or it????????s representatives, parent company, subsidiary, or affiliate, including collection agencies will be recorded and handed over to authorities for investigation), nor contact my friends, family, or employer, all contact to me shall be in written form either through email or via the United States Postal Service. Please note a copy of this letter will be forwarded to Chase Bank, and Indiana Office of Regulation (Division of Securities and Finance).

Thank you,

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