One Down! I won! Thanks to you all

Great!! Save this email for records.

I see this email doesn't mention about the account number that is paid. Should you actually ask them to send another email with the account number, it will be better.

The subject of the email as the loan ID in it. :)
& I logged into the site and my account is marked paid. I basically threatened them with legal action and demanded one of two things: 1) a refund or 2) mark my account in full. I didn't expect a refund, all I really wanted was to be marked paid in full.

This place is a LIFE SAVER!!

Thank you everyone for their help!!

Sarah

If the subject line has the loan ID, then there is nothing to worry. Congrats and enjoy this small success.. :)

It helps to be aware of the consumer's rights.

WTG!!!! It's a great feeling isn't it? I am so happy for you even tho I have only been here a few days--I felt like so many here at this time last year. Congrats!!!

Thank you. At first, I felt like I was doing something wrong by denying what I owe, but after I realized that their fees are illegal and I have legally paid what I owed, it's nice to know that we do have some control over these PDL companies. I owed two store front companies, and in Michigan, they are required to set up a very good payment plan -- basically 25% of the original loan in the first payment and then 10% of the original loan with each additional payment until it's paid off, and I pay according to my paycheck, which is bi-weekly.

It feels great to be in control again!

Like I said before, this information here at this forum is invaluable!

Good job! I know you feel so much better!

Congrats! At least someone is getting somewhere...

what fax number did you use for sonic? my wife has a loan with those clowns, and I have one too, but under the pseudo name cash transfer centers...I rolled it over five times, and they charged me $876.00 more than what I was supposed to legally pay. Im going to send them something as well, just need the fax number

(208) 247-3267 This is the FAX# I used, but I am still waiting to hear from them.

What I did is make payment arrangments with all of the people I owed to buy me some time, but now I am going through everything trying to get the accounts marked PAID -- First, try being really nice to them like you are going to fully cooperate asking for records of what you paid, etc. Then WHAM hit them with FAXES and emails. I am sending a fax and an email everyday until I get a response for the first week. After than I may send two a day for the next week. Time to pressure them for a change.

Awesome job Sarah! :)

A W E S O M E ! With the help of people on this site i have managed to have 3 PIF!!!! Amazing! what a feeling! Congrats.

Awesome Kimmy! :)

It's always good to hear success stories. :)

Great job! I am glad to hear that you are taking care of business.

Congratulations Sara, it sure feels good when you get the PIF email.

Thanks, all. I have a way to go before all of these are marked PIF -- but at least I get my entire paycheck every two weeks and I can get caught up on my REAL bills and start saving some money again. :)

I've said it before, and I'll say it again, this website/forum is a LIFESAVER!!!

Sarah,

Can you send me a copy of the letter template you faxed to this payday company? I want to send a letter
to a company called authorized payday, they are outside of Michigan Laws. If you could PM me a copy of a letter, that would be great.

That's great news :-) Thanks for sharing. It will show others on the forum that there is a light at the end of the tunnel.!!!

Yes, it was encouraging.

This is what I said:

[quote]Friday, March 30, 2007

Payday Select
Attn: Customer Support
[THEIR ADDRESS]

To Whom It Concerns:

RE: Loan ID: [LOAN ID]

Upon closer inspection of my account, it has come to my and my attention that my original loan was for $300, and so the maximum chargeable fees are $42. I therefore only owed your company $342. I have paid $542.32 for this loan in excess, unlawful interest fees, an excess totally $200.32. Instead of expecting a refund from you for $200.32, I expect my account to be marked paid in full. If you do not mark my account paid in full within the next 48-hours, I will be filing a complaint with my State Attorney General. As mentioned in my previous letter to you, your company must comply with the laws of the state in which your customers are residing. Here is a copy of Michigan ????????s deferred presentment transactions laws [PUT YOUR STATES LAWS AND YOU WILL NEED TO FIGURE OUT HOW MUCH IS LEGAL AND HOW MUCH YOU PAID]:

Lenders shall not loan more than $600 to a consumer in one (1) deferred presentment transaction (payday loan). Lender shall not enter into a transaction with the customer who already has an open account with them or more than one open loan with other licensees.
MI offers certain slabs for maximum chargeable fees; the structure goes like this:

???? 15% for first $100
???? 14% for $101 - $200
???? 13% for $201 - $300
???? 12% for $301 - $400
???? 11% for $401 - $500
???? 11% for $501 - $600

Apart from this, the lender can charge database verification fees.
Loan term may not be extended beyond 31 days. Renewal is not allowed in Michigan ; however, licensee can extend the loan terms provided no fees are charged for this. Note: There should be a written agreement of the transaction and licensee shall not include any confession of judgment there.

What if the check returns?
Lender can charge $25 as NSF charge; no criminal prosecution can be taken against the customers based on return check.

Michigan
2005 Mich. Pub. Acts 244 (enacted 11/28/05)

I appreciate your prompt attention to this matter.

Sarah Reed
[YOUR ADDRESS][/quote]