I have had 2 PDL with Archer Direct. I paid the first but was laid off and tried to make arrangements to defer payments on the second.
Of course they said "no." Then I read some of the advice here and sent this letter (one each for each of the two accounts) via registered mail and email:
To Whom It May Concern:
This letter is to inform you that I am aware of the FACT that the loan you issued to me, is NOT legal or binding in my state. For your convenience, I have included my state payday loan laws below.
It has come to my attention that you are not a licensed Florida lender and payday lenders must be licensed by the state of Florida in order to offer loans to its residents. Since your company has no license in my state, the loan contract I have with you is not valid. Although I am not legally required to do so, I am willing to repay the principal balance of this loan. To date, I received a deposit of $400 on 01/03/2013 on which I have paid:
For a total of $790.00 representing an overpayment of $390.
At this time I am requesting a return email acknowledging that my loan has been paid in full. Also, I am demanding a refund check of the $390 overpayment. A refund check of $390 can be mailed to me at the address shown above (you have this on file.)
As of 07/ 17/2013 I am revoking authorization for ACH withdrawals by with you or your affiliates from any and all of my accounts owned individually or jointly and any wage assignment I may have signed with you or your affiliates. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please respond to this email with acknowledgment that my account has been satisfied in full. Details of when I can expect the refund check, as discussed above, should also be included in the email.
I have intentions on moving forward with complaints to my Attorney General and the FTC, and the CFPB if the terms in this letter are not met.
On both loans, one of $400 and one of $500 I have paid a total of $1860.
I closed the checking and opened a new one and explained to the bank what was going on (they encouraged me to file fraudulent debits claims) account prior to sending any letters.
This is what I received via email along with my proposed response:
We are at impasse. Barring other alternatives I will file a claim/complaint with my bank and the Florida Attorney General and let them investigate and reach a decision on the matter. In the meantime I have revoked any ACH authorizations as well as any voluntary wage assignments. Further contact via email will be ignored as will telephone calls. You may reach my via US Mail at the address you have on file.
On Jul 23, 2013, at 5:45 PM, Veronica L
I have Attached your contract as a PDF format. Please go over it thoroughly and pay attention to the statement that I have provided that is also in the contract. Your next due date is 7/31/13 for the amount of $135. If you want to pay down or off please call or email at least three days prior to your due date. If you have any question please advise.
Pay attention to this section:
Governing Law: Both parties agree that this Note and your account shall
be governed by all applicable federal laws and all laws of the jurisdiction in
which the lender is located, regardless of which state you may reside, and by
signing below or by your electronic signature, you consent to the exclusive
exercise of regulatory and adjudicatory authority by the jurisdiction in which
the lender is located over all matters related to this Note and your account
forsaking any other jurisdiction which either party may claim by virtue of
I am not sure what the controlling law might be; Archer appears to have an office in Florida but they have not followed Florida law anyway.
So, do I send the email reply above, and what other steps should I take?