Revoke Letters

If you owe a company money and you close your account they can take legal action to try to recover their losses. That would only mean civil action not criminal. From what I have experienced though is they usually resort to harrassment or third party collectors to try to recover their money. I have not seen an illegal PDL march into court yet. Cash Net is licensed in pretty much every state they lend in. I would not put it past them to file a suit. I have owed them 600.00 for six months since freezing my account and they just keep sending me expired settlement offers. They have threatened to turn me over to a third party collector but haven't done so yet.
How much did you borrow from each one of these and how much have you paid each one so far. You may not legally owe them as much as you think. The laws in Missouri appear to be very vague to me. They allow rollovers but your loan must reduce by 5% each time. The usury cap looks like 75% which is high. But not as high as you may have paid. Go to (www.payadyloaninfo.org) and you can see your states laws.
The only way I know to get control of your life is to freeze or close your account aand deal with these predatory lenders one at a time.

You should write to them also revoking their ACH priveledges. This will help you down the road. They will ignore your letters and keep trying to take the money. The fact that you wrote them will help protect you against civil action. You must however try to make other arrangments with them.

Thanks frogpatch! Do you know off any template that I can use to draw up these letters?

Is an email to the customer care going to be satisfactory? Should I double the efforts and send a fax or go through snail-mail?

Just to be safe I would send a fax and save the fax coversheet and send it through the USPS with certified/return receipt mail requested with the green card so that it was actually signed by somone so that you now 100% they received it. Check the DYI section there are letters there that you can use, or do a search in the search section. Let us know if you need anything else:)

ladybug

Lady Bug is right. Always certified. Documentation is everything. There may be a template in the do it yourself section on the sidebar!

Frogpatch,
You are truly a good dept samaritan.I owe $1000 to the cash store in big D.I think the have sent it to collections or they may have filed.I can't pay it all due slow work but would like to setup some kind of small payment plan.It's been about a month.What's my re-course ?? Can i be prosecuted???
Please advise.Thank you in-advance.
I have heard through the forum about a company in OK called T&C.Can they help me.I have several other PDL's out.
AM