Loan Point USA (Geneva Roth)

i would e-mail him instead.this is an illegal lender period.not just in CT.if you are sure you overpaid.send him an e-mail stating that and you will only communicate via the USPS or e-mail.i wouldn't call him.he probably wants to try to flim flam you with alot of fast talk.

that's what I figured, so I thought I would get some opinions as to what I should do. Any thoughts on how I should respond by email?

well you can state your pdl laws,and give him the amount debited in fees that says you should be either refunded or marked PIF at least.i wouldn't go further than that.except to make it clear you will not call him,or will take calls from him.

Actually just checked my records and it was a $300 loan...I have since paid back $540.

Ok, thanks.

this is what I sent him.

Ryan,

Please see my initial letter to Loan Point, dated 12/30/09. Please note as stated in my letter I wish to communicate with anyone representing Loan Point via email or the USPS. Attached you will find transactions, both credit and debits from my account. Please note that the original loan was for $300, and to date a total of $540 has been debited from my account by Loan Point. Please see my letter below in reference to how I wish for this matter to be resolved.



December 30, 2009

Loan Point USA

(name removed)
Windsor, CT


After doing research regarding Internet payday loan laws in the State of Connecticut, I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of Connecticut in general:

Legal Status: Prohibited

Citation:
Usury act applies or small loan act applies. Conn. Gen. Stat.?? 36a-563

Small Loan Rate Cap
30.03% or $17 per $100 up to $600; $11 per $100 up to $1,800; add-on interest

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the Bank of America to protect my interest in this matter, per instructions from The Connecticut Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected and reported to Connecticut Attorney General's Office on behalf of my employer.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office. I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

Due to the fact that Internet payday loans must be licensed in the state of Connecticut to be a legal and binding contract, your company should NOT issue loans to Connecticut residents at all. I am requesting that you send me your license number which enables you to offer loans to Connecticut residents.

The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. To my records, I have already paid back the principle amount of the loan, and demand all monies paid beyond the original $300 loan to be credited back to me.

I must also inform you that I have filed complaints with the Better Business Bureau (as you are now aware of), the Federal Trade Commission, and the Connecticut Attorney General's Office.



I expect a response from your company no later than 5 days from the above date regarding this matter (refund of $240, this is the amount paid back beyond the principal). This response may only come via US Postal mail or email. No telephone contact is permitted.

Sincerely,

(name removed)

CC: Better Business Bureau
Connecticut Attorney General
Federal Trade Commission

looks like a great letter.keep that,because you may have to send it numerous times before he gets the hint.

i know this is old, but do you have any updates? loan point usa is the worst company i had to deal with in my payday loan days.. ruthless, unprofessional and horrible to work with.

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