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Read this!!!!!!!!!!

Date: Tue, 11/14/2006 - 08:56

Submitted by msk7777
on Tue, 11/14/2006 - 08:56

Posts: 57 Credits: [Donate]

Total Replies: 84

Read this!!!!!!!!!!


Just got my first response back and I wanted everyone to read this! I love this site for its help, your rock!

Quote:
Dear Mr. King:


We have found that our best course of action when we get a complaint from a customer is to return all fees paid by the customer.

We will be mailing you a check shortly in the amount of $2658.00 which is the total amount of fees we collected from you for your loans less balance of the principal owed us.


We are sorry that you were not happy with our service.



Star Light Financial LLC


yes everyone, it was a payday loan, this one I started about a year ago and they didn't have the option to pay down on it is I always paid the interest. I didn't expect them to respond this way, now Im just waiting for the rest of them to respond! I was feeling so down about my payday loans, now Im sor relieved, even if I can't get the rest to comply this allows me to pay off the rest and still have money left over. If you are new here, I was scared too, I have 10 payday loans out and have overpaid on most of them. None of mine are licensed in my state. I took the advice from people on this site, read a lot of posts that related to what I was going threw. I started realizing I wasn't even close to being alone in this delima, and that there are people here that can help. Stay strong and you can get thru this, learn your rights and when the calls start coming and they start make threats, make them back and stand tough, they will say anything to get what they want but its all a ploy. Everyone here really is on your side!


lrhall41

Submitted by anonymous on Tue, 11/14/2006 - 11:24

( Posts: 202330 | Credits: )


For those that asked here is the letter I sent them:


Michael S. King
SS#: ***-**-****
Personal info removed for your safety - Mike


Star Light Financial LLC

PH: 319-385-7488
Email: info(at)starlightfs.com

To Whom It May Concern:

Effective immediately, I hereby revoke authorization to Star Light Financial LLC or any representative, parent company, affiliate, or subsidiary of Star Light Financial LLC, to withdraw any funds electronically from my checking account ending in , 7229 in the name of Michael S. King. 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 $400 I took out with your company on which you began debiting my account. This is a grand total of $2,992 debited from my account for a $400 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 Texas State law, I have discovered that Star Light Financial LLC is not legally authorized to lend to residents in Texas. Therefore, Star Light Financial LLC is in violation of Texas???????? usury, interest rate cap, and licensing requirements, as well as wrongful credit practices and related offenses.

Quote:

Citation:
7 Tex. Admin. Code ???? 1.605; Tex. Fin. Code Ann. ???????? 342.251 et seq. and 342.601 et seq.

Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin, TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
Regulatory Contact: ,
http://www.occc.state.tx.us/

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period: 24 hrs
Repayment Plan:


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 Texas State mandated interest rate cap for short-term loans. As stated above a lender cannot exceed an amount of $12 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 Star Light Financial LLC, to immediately mark my account ???????Paid in full???????. Further, at no time will Star Light Financial LLC, 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 effect 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 7229, in the name of Michael S. King, will no longer honor any form of debit from you. I will except a letter stating that my account is "Paid in full" within 10 business days from today via United States Postal Services at my home address (1500 Preston Rd #1407, Plano, TX 75093) or E-mail (msk7777@hotmail.com). If I do not hear from you by November 25, 2006, I will assume that you are refusing. I will then contact the Texas 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 Star Light Financial LLC 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 Bank of America, and Texas Office of Regulation (Division of Securities and Finance).

Thank you,

Michael S. King


lrhall41

Submitted by anonymous on Tue, 11/14/2006 - 11:27

( Posts: 202330 | Credits: )


msk, They are giving back refunds left and right WV consumers got back over 16000 in refunds from this one company. Congradulations you should be proud of your victory!!!!!! :D :) :D :)


lrhall41

Submitted by KYSIDE38 on Tue, 11/14/2006 - 16:31

( Posts: 2477 | Credits: )


yea I got my second letter back a while ago from Payday OK, I will copy you guys with what they said and what I said so you have an idea of how to handle them:

Quote:

Thank you for your most recent fax.

Per your loan agreement: (---------)

"ACH AUTHORIZATION: If we do not receive payment in the amount owed under this Agreement, by the Due Date, then you authorize Lender and its agents to initiate an ACH debit entry to your bank account in the amount owed under this Agreement. Your ACH Authorization will remain in full force and effect until you satisfy all of your payment obligations under this Agreement. "

Which can be found under "Loan History" in your log -in at PayDayOk.com.

Your loan is currently due on 11/16/06.

Remember, which ever payment type you select, PayDay OK must receive the funds by your due date. If you are unable to ensure delivery by your due date, please contact Customer Support with the date and method in which you are sending your payment.

We can accept a Money Order payment, Credit Card or Western Union Quick Collect.

If you choose to send a Money Order please mail it to:

PayDay OK
Attn: Customer Support
2207 Concord Pike #606
Wilmington, DE 19803

To make a payment by Credit Card, please call our Customer Support department at: 866.612.4506. You will need to provide them with:

Credit Card Type
Credit Card Number
Credit Card Expiration Date
Name as it appears on the card

Please do not send credit card information via email.

Or, if you choose to send the payment via Western Union Quick Collect, you will need to provide them with the following information:

Pay To: PayDay OK
Code City: PayDay One
State: TX

*** You will need to request the BLUE form.

The cost for the Western Union service is $12.95, in addition to the cost of your loan. Western Union only accepts cash; they do not accept Money Orders.

If you have additional questions, please feel free to contact Customer Support at the toll free number listed below.


Thank You,

PayDay OK Customer Support Team
support(at)paydayok.com
paydayok.com
866.612.4506
866.612.4508- FAX
Business Hours: M-F 8-7 CST/Sat 10-2



My reply:

Thank you for your response, as I stated in the previous letter, I have been advised that your company is not licensed in the state of Texas and therefore lending money illegally. I do not wish to do business with your company any further. From the amounts of finance charges on this current loan and the several previous loans before that I would more than consider this account even, actually you should owe me some money. I am for the second time asking that you mark my account as "Paid in full". I am sending a copy of all our conversations to the Texas Attorney's General as well as the Better Business Bureau.

Sincerely,
XXXXXXX


lrhall41

Submitted by msk7777 on Tue, 11/14/2006 - 17:21

( Posts: 57 | Credits: )


There is really no pointers to give, I have had a few give me the run around but that is it, everyday I keep telling them that their offer is not acceptable. I am in sales, I know the crudd that salesmen spit out, these guys are no different. I know all their threats have no credibility so I threaten them back. Everyday I keep sending the same emails and faxes over and over again because they leave the same messages over and over again. I would only suggest that for every phone call you receive send those letters 3 times. Its been working for me!

msk7777


lrhall41

Submitted by msk7777 on Thu, 11/16/2006 - 07:11

( Posts: 57 | Credits: )


WOW! How long did it take you to hear back from Starlight? Did you e-mail them or send a letter to the Las Vegas address? I have sent a similar request to Starlight but have not heard anything yet. Was wonder ing how long it took.

That is so wonderful. Be sure and let us know when you have that check in your hot little hands.

Hey, I do not mean to play devils advocate or Johnny raincloud here, but I'm wondering if they could obtain your new banking info off the cashed check and turn around and debit your account. That's assuming you have a new account (I do) I just wouldn't ut ANYTHING past the PDL's and wonder if the would use a "refund" check to get banking info.

I'm just being paranoid I guess.

You are awesome!


lrhall41

Submitted by cbigfan7 on Fri, 11/17/2006 - 13:44

( Posts: 168 | Credits: )


Well I would suppose its a possibility, but that would be HIGHLY illegal, any contract they have with you is for debiting a certain account. I would only hope that they would do that so I could take them straight to jail. I sent them a letter through email, well actually the first time I sent the letter I sent them 10 letters the first day I sent it, before 24 hours was up from the time I sent the first letter I received that response from them. I have been sending each email and fax 3 times a day just to give them hell and get an answer, a few of them haven't responded at all, a couple are calling me even though I told them not to call me, but those are the ones now getting the letter 10 times a day. I've become a PDL-Hunter. I will get all these resolved the way "I" want, not the way "they" want.


lrhall41

Submitted by msk7777 on Fri, 11/17/2006 - 14:03

( Posts: 57 | Credits: )


msk: As my kids would say, "You're the man!" Anyway, be sure to hook up with Kscornell and Steelers1. They're going to write a book about the PDLs and DC's, and I think they said they were going to buy that hair salon if they can get a loan from Bass & Associates. (See post: What to do when you are contacted by a debt collector).


lrhall41

Submitted by dbaker6 on Fri, 11/17/2006 - 14:13

( Posts: 1600 | Credits: )


LOL yea I know they told me that I have the highest return from a PDL, as competative as I am I would love to see someone else beat that! Once you see past their line of lies it becomes easy to laugh at them. Make it a game to see which PDL comes up with the best threat. In fact I will post a new topic called "Best PDL threats" in just a second!


lrhall41

Submitted by msk7777 on Fri, 11/17/2006 - 14:45

( Posts: 57 | Credits: )


Well no refund for me but Whoo Hoo! Anotherone bites the dust!


Subj: Star Light Financial
Date: 11/20/2006 2:47:37 PM Central Standard Time
From: info(at)starlightfs.com
To:
Sent from the Internet (Details)




Quote:

Dear Laura,

As a courtesy, Star Light Financial has forgiven the outstanding balance due on your account. Your account has been marked as paid in full.

Thank You,

Star Light Financial, LLC


lrhall41

Submitted by cbigfan7 on Mon, 11/20/2006 - 12:53

( Posts: 168 | Credits: )