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Response to ACH Revoke Letter

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Posts: 3
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Hello all,
I live in Florida and closed my account after sending out all my letters. I determined all but 1 of my loans were illegals PDLs. I got my first response today stating they would settle now for half my balance or send me to collections and start penalizing my credits (see below). Is this true? Can these companies do send me to collections and hurt my credit even if they aren't legal?? Please help!!!
I am in receipt of your request for revocation of your ACH payments with MB Processing. The appropriate adjustments have been made and we will no longer be pulling payments from your bank account unless otherwise notified by you.
Because we are no longer pulling payments from your account, then you must contact our office immediately and make alternative arrangements to pay your account off. If you do not contact MB Processing within 5 business days from this notice to resolve this matter, then I will take that as your final refusal to pay voluntarily and your account will be forwarded to the outside collection agency; which at that time, will report to your credit bureau and make a demand for the balance in full plus collection costs.
Your balance as of right now is $300.00. To get this matter resolved, I have authorization to settle your account in full for $150.00. If you cannot afford to pay the settlement offer then you must secure a payment plan through a credit/debit card to get the FULL balance paid off in a few payments.
KARA, again, MB Processing will no longer be pulling ACH payments from your bank account nor will you be charged for any more service fees/finance charges. You will have 5 business days from the date of this notice to contact MB Processing and make alternative arrangements to pay your account off. If you do not sort out your financial obligations with us, then we must do what is necessary within our legal limits to collect the funds. It will be documented as your final refusal to pay voluntarily and MB Processing will proceed to enforce payment of the debt.
Protect your credit and your finances by contacting my office immediately!

Florida is a non garnishment state so you paycheck is safe.
Florida law also requires all lenders to be licensed by the state regardless of physical location. You are not under the laws of the lenders state no matter what they say. If a lender is not licensed in Florida the loan in non collectible. Period, No exceptions.
Florida Consumer Financial Act. It also caps all small loans at 18 percent. The laws you see posted for Florida pertain only to Payday lenders within the state like Amscot. Is the future if you must take a payday loan stick to Amscot. They are very professional and will work with you if a problem arises. Take it from a former Florida Resident and former payday loan taker who was drowning. Once I said sue me they all ran away. Except for the legal ones. A collector still calls me 5 years later and I just laugh. They still think I live there and are "on their way to my job to talk to my boss and serve me with papers."

Sub: #1 posted on Sun, 02/19/2012 - 01:37

Frogpatch Frogpatch
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(Posts: 5381 | Credits: 652.5)

Florida is only a non garnishment state if you are head of household.

Sub: #2 posted on Sun, 02/19/2012 - 03:15

Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.14)

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