You are my new best friends (long post)

After doing research on payday loan laws in the state of Florida I have found the below laws to be true:



Florida State Information
Legal Status: Legal
Citation:
Fl. Stat. Ann. § 560.401 et seq.; Rule 69V-560.901-912

Loan Terms:
Maximum Loan Amount: $500
Loan Term: 7-31 days
Maximum Finance Rate and Fees: 10% + verification fee
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
Rollovers Permitted: None (cannot rollover)
Cooling-off Period: 24 hours
Repayment Plan: Yes

Collection Limits:
Collection Fees: All charges imposed on the lender by any financial institution; lender not entitled to treble damages
Criminal Action: Prohibited

I also found out that you are not licenced in the State of Florida to issue loans.

I have currently Paid $900 on my $300 loan. The LEGAL amount that could have been charged on my $300 loan, if you had been licenced in the State of Florida, would be the principal of $300 and a $45 finance charge.



I have OVERPAID my loan by $555. I am demanding a refund of that overpayment. I also demand that my loan be marked as PAID IN FULL and all further collections of the loan be stopped. I am revoking your automatic ACH. I also demand that any contact to me must be done through email so I can keep accurate copies of any correspondence as I have filed a formal complaint with the State Attorney General.

Mr. Gardner,

I will consider your loan as paid in full as of today; I will be able to issue a refund in the amount of $210. We will not issue a refund of your full request due to the fact that the loan terms were explained to you. So your refund will be available within the next one too two business days.