So I defaulted on my loan about a month ago and have sent quite a few letters to them. (Top of my head, I don't remember what I owe on principal, but now what they are saying in this letter. I think I borrowed $400 and have paid around $200 back) They had never responded, just kept trying to call me at work. So now I finally get a letter from them:
We have tried to contact you by phone, email and you have failed to contact this office. You need to contact this office immediately within 48 hours upon receipt of this email. Your account has been placed with our recoveries department to pursue you for $677.50, which is due immediately. This letter serves as written notice that you have not only failed to honor the terms and conditions set forth in this contract but have also breached the agreement you signed in repaying your loan. We are trying to offer you the opportunity to bring your account back up to good standing with us. According to the Bad check laws in the state of Illinois , you have five (5) days to make good on your bad check, which you have failed to do so. You are now in violation of your states bad check laws, which carry civil and criminal penalties, which we can pursue.
Please be advised that failure to resolve this matter will result in your account being turned over to our Legal Department to take legal action against you.
If you have any questions contact our office at 1-877-711-1199ext: 527.
Now, since this was an internet payday loan what this person is saying about the bad check law does NOT apply correct? I've closed my account and opened one at a completely different bank. Should I forward a copy of this letter to the AG and BBB? Should I respond to this person with my original letter again stating the laws of Illinois and that I am willing to pay the balance on the principal?
Thanks for the help!
Yours Very Truly,
1-877-711-1199 ext: 527
This is an attempt to collect a debt; any information obtained will be used for that purpose.