My letters to my creditors, what do you think

Hello,

I recently got ahold of the last bank statement for my account with your company. The loan I was granted was for $300. I have paid $30 so far. $270 remains the principle balance. I thought the repayment amount was pretty exorbitant and did my research. My state has an interest rate cap that $411 on a $300 loan greatly exceeds. In my case, the interest rate is 780% apr. The rate cap in my state is 2.75% per month; 33% per year.

You say that you never received my fax forwarning that my account was to be closed and asking for alternative repayment arrangements. That is fine and with that in mind to be fair I will pay the $30 return fee. That will bring my repayment amount to $300 since I have already paid $30 (no matter what capacity, the $30 was taken in association with loan repayment). $411 not only exceeds my states legal APR it is just an exhorbitant amount to ask for in return. I have the Money Gram information. I will make my payment of $300, upon written confirmation that my account wil be marked paid in full with no further collections processes after doing so. Thank you for your assistance in clearing up this financial matter.