I'm about to send my letter to Mobiloans and was wanting to get some help. Thanks goes to OhioGal for the format. Please let me know if I am on the right track or need to add/delete something. Not sure if I should make the payment arrangements or just try to get them to PIF it?
It has come to my attention that payday lenders must be licensed by the state of Texas in order to offer loans to its residents. Since your company has no license in Texas, 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 $600 on June 21, 2013, and have had 1 withdrawal of $185 debited from my account on July 19, 2013. This results in a principal balance of $415. I also have had a grand total of $690 in fees charged to me in 2013, which shows an overpayment on this account of $275.
I am willing to make monthly payment arrangements to pay the prinicpal balance of my account as follows. These payments will be made via credit card:
8/16/13 - $100.00
9/13/13 - $100.00
10/11/13 - $100.00
11/8/13 - $115.00
I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. Any future attempts to collect funds in this manner will be blocked. I also revoke authorization for you to contact myself or any references that are listed on my application or account. All communication shall be written for the benefit of your company and myself. Also, I request my account to be deactivated.
Please respond to this email with acknowledgment that my account has been satisfied in the above manor.
Personal Information Removed