“Dear Steve,
I am asking for my father. He is 80 on ss and recently applied for a payday loan. Which resulted in about 4 loans and one which the documents he signed and everything on there website states that for $350 he would repay interest of $105.
They sent a email to him that said he was approved for the loan and did he accept the terms he typed back yes .
When reviewing I noticed the terms on the email are different than the terms on the loan. Here is a copy of the last email I correspondence with them. Now they just want to talk to him on the phone and I have told him NO.
Here is the email I sent for him and what they sent back
To: customerservice@e-payday-loan.com
Cc: Enida
I am Bill [redacted] last 4 of social [XXXX]. I thought it was a typo at first but never thought I would feel discriminated against because of my age?
Or do you do everyone like this hoping they don’t notice?
Why are the papers that I signed and the terms of my loan different than what you are wanting to take out of my account? Why would you take a $175.00 when everything I signed and everything on your website states that for $350.00 the pmt is $105.00. The email I received said $175.00 and online my account says $175.00. I am looking at my agreement and it clearly states $105.00.
No typo you did this on purpose. At this time I am revoking any and all authorizations that you have to effect ACH debit entries, I am revoking your right to do POS transactions, and I am revoking your right to prepare and submit any checks drawn on my account.
Then you send me the email at 11pm at night telling me I got till Sunday to make changes if needed. Knowing the changes I need are not a option to begin with and you are closed till Monday ??? I may be old and cant hear good but I can see real good and I am real hurt and not stupid either.I don’t know what makes people think that at 81 years old I havent learned anything in life.
On this day I xxx xxxxxx last 4 of ss# **** am exercising my right to revoke any and all rights you,your company, and any associates have to add or retrieve money from my account, in any form or fashion including revoking POS, revoking ACH debits,revoking you and your right to prepare and submit checks drawn on or from my account. I have now officially revoked your right to my account all together. I understand the bank also needs a copy of this request.
The contract said 3 business days but your email said by Sunday. I am sure you have plenty of time to correct this. Now I hold NO trust with your company but would prefer email correspondence so I can keep up.
I will be more than happy to arrange the payment of what I owe using another method. But this is my written revocation which shall go in effect immediately. I have every intention of paying what I owe please email me with how and what I need to do?
Remember you to will be old one day. Would you want someone to discrimanate your family or you as you have done me just because you thought since I was old and on a fixed income, I was stupid? Just to try and make the company you work for extra money or do they split it with you?
I am so disappointed.
I have tried since Friday night to reach someone.The email said by Sunday.
Well the option that I need is not available online and no one is there on Saturdays. My payday loan will not clear when processed. My account has been attacked with unauthorized transactions and this has ended in me needing to make arrangements to take care of this without you running it through the bank. Please do not try to process this pmt as I am trying to stop the bank from closing the account.
I was told to sign unauthorized use papers ,contact you guys and any bills that automatically come out. I was also informed that it was my right to receive a payment arrangement. They said to be careful that a lot of online companies don’t abide by the correct State laws and even federal laws.
I was told its best to close the account the bank here has so many people with fraudulent activities happening from payday loans that a entire department is committed to investigating them.I always thought if someone took from my account it was up to me to call the police and press charges. I did not know that its my understanding the bank will do it and I dont even have control over it.
Maybe thats for the old idiots like myself who sign contracts that we wont go to court but use arbitration or whatever. As the bank doesn’t sign the agreement. I am aggravated at your company for insulting my intelligence because I am old and cant hear good.If I had not stopped this you would have either got $70 a month more than the contract states for no telling how long.Your real money making would have came in by you processing the $175 instead of $105 me not having the funds so its returned to you. You then start running it through daily so you can keep getting I think the contract says $30 each time. Well of course every single day you would get a extra $30 because the first time you ran the wrong amount the bank would start charging NSF fees it would snowball and in no time you would get rich from me.
The second gimmick is the pay off for $350 being $525 instead of $455 You throw that one in there just in case I would have paid off.You had to make something right?Do you do this to everyone or are you indeed singling me out because of my age?
Payday Loan Company Response
Mr.XXXXXX
Attached is a copy of my email to you reveiwing the terms and fees and in the email you responded that you agreed…. The $105 fee that your referring to is for customers that gets paid weekly thats a payment that they have to pay EVERY week if they dont pay off there loan…The $175 payment that your being charged for is for customers that get paid monthly we charge our monthly customers one flat rate…. Paying a monthly rate is alot cheaper than paying the 105 weekly rate…. Never was I trying to take advantage of you because your ederly… we spoke through email and before I put your loan through I sent you a copy of the terms and fees and asked you to respond if you agree to the terms on which you did….
Enida ”
Dear Shannon,
I’m sorry to hear your father feels he was taken advantage of by e-payday-loan.com. At this point the best way to deal with this would be for him to make his required payments he contractually agreed to while pursuing this matter to resolve the dispute.
I would suggest he follow this process to make sure he documents everything and contacts the correct authorities to pursue the matter for him.
The domain name E-Payday-Loan.com is owned by:
Blake Jordan
P.O.Box 571992
Murray, Utah 84157
epayday@e-payday-loan.com
I would suggest you contact the banking department of the state you live in and find out if E-Payday-Loan.com is licensed to lend in your state. If not, that’s an important issue to raise in your request for them to unwind the loan.
Granted, the website of e-payday-loan.com is a bit confusing when it comes to cost. it does say that the charge for a loan of $350 will be $105 for up to 45 days. At least that’s the way it appears to me.
The best car scenario at this point would be that e-payday-loan.com would respond to you or comment on this question and let you repay this loan at the rate of $105 interest per month. If e-payday-loan.com wanted to really get out of this with some positive face I’d suggest they let you repay any amount of money you have received from them so far without interest.
If they were smart they’d make this issue go away. Let’s see how smart they are.
Please post your responses and follow-up messages to me on this in the comments section below.
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I been messing with these guys since Saturday
You are too late to setup payment arrangements, please
make sure the funds are
available for withdrawal by 7:00 AM on
8/3/2011
.
You are too late to setup payment arrangements, please
make sure the funds are
available for withdrawal by 7:00 AM on
8/3/2011
.
I havent been able to find out if they have a license to lend in Alabama but They did still process a ACH debit for $175 as opposed to the $105 on the contract
What did your state bankring department say when you talked to them?
Thank you so much.I had no luck reaching the banking dept as they are already closed.I did see a clipping on the internet where Oregon sued them in March for charging to much interest.
They absolutely refuse anything in email.They called I was on the other phone listening Dad kept saying hello and I could here a very vague whisper saying Mr ****** you can hear me you heard me when you got the loan.Then she says OH MY GOD and hung up.It was all I could do not to talk.He said he has never spoke to anyone on the phone.I told him not to correspond with them anymore I will do the emails on his behalf .How can we pay just the $105 since we are at their mercy?I have cut out the parts that really concern me.According to this is does not matter if they have a license here in Alabama or n.I am also sending a copy of the last correspondance I had with them.The
dollar amount the loan will cost you.
$_105.00_
*Amount Financed*
The amount of credit provided to you or
on your behalf.
$350.00
*Total of Payments *
The amount you will have paid after you
have made the scheduled payments
$_455.00_
*Payment Schedule:*
You must make one payment of
$__455.00_____ on _8/3/2011 _ ___ if you
*decline** the option of renewing your
loan.
If renewing is accepted you will pay
the finance charge of $__105.00___
only, on _8/3/2011 ____. You will
accrue new finance charges with every
renewal of your loan. On your fifth
renewal and every renewal
thereafter, your loan will be paid down
by $50. This means your account
will be debited the finance charge plus
$50 on the due date. This will
continue until your loan is paid in
full.
*To
decline the option of renewing you must sign section “C” of the
Application
Supplement.
*Security
Interest:* This loan is unsecured.
*Prepayment:*
If you prepay your loan in advance, you will not receive a
refund
of any Finance Charge.
*(e)*
The Annual Percentage Rate is estimated based on the anticipated
date
the loan proceeds will be deposited to your Account, which is
_7/18/2011
_ ___.
*Notice:*
See below and your other contract documents for additional
information
about prepayment, nonpayment and default.
*_ITEMIZATION
OF AMOUNT FINANCED_* of $350 Given to you directly $ 350
.00
; Paid on your account $0 .
*_Promise
To Pay:_*You promise to pay to us, E Payday Loan, or to our
order,
in one payment, on the date indicated in the Payment Schedule,
the
Total of Payments, unless this note is renewed. If this Note is
renewed,
then on the Due Date, you will pay the Finance Charge shown
above.
This Note will be renewed on the Due date, unless at least three
Business
Days before the Due Date, either you tell us you do not want to
renew
the Note or we tell you that the Note will not be renewed.
Information
regarding the renewal of your loan will be sent to you prior
to
any renewal showing the new due date, finance charge, and all other
disclosures.
As used in the Note, the term “Business Day” means a day
other
than Saturday, Sunday or legal holiday, that E Payday Loan is open
for
business. This Note may be renewed four times without having to make
any
principal payments on the Note. If this Note is renewed more than
four
times, then on the Due Date resulting from your fourth renewal, and
on
the Due Date resulting from each and every subsequent renewal, you
must
pay the finance charge required to be paid on that Due Date and
make
a principal payment of $50.00. On or after the day your loan comes
due
you authorize us to effect one or more ACH debit entries to your
Account
at the Bank. You may
revoke this authorization, at any time up
to 3 business days prior to the due
date. However, if you timely revoke
this authorization, to effect ACH debit
entries before the loan is paid
in full, you authorize us to prepare
and submit one or more checks drawn
on your Account on or after the due
date of your loan. This
authorization to prepare and submit
checks on your behalf may not be
revoked by you until such time as the
loan is paid in full. You
authorize us to collect the payments
due by using your debit card
information that you provided to us
(this will be done as a POS
transaction). This may be done in one
or multiple amounts using various
debits until the amount you owe is paid
in full.I requested to revoke all
of this but it says I cant revoke them preparing checks.
Additionally,
if the account you have provided to us for your ACH debit
has
been closed or funds are not available at the time of our scheduled
debit,
you authorize us to debit any account that you hold that we have
information.
If your Account is with us, you authorize us to deduct the
*_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 ad judicatory
authority by the jurisdiction in which
the Lender is located over all
matters related to this Note and your
account, forsaking any
jurisdiction which either party may
claim by virtue of its residency.
*Amount Financed*
The amount of credit provided to you or
on your behalf.
$350.00
*Total of Payments *
The amount you will have paid after you
have made the scheduled payments
$_455.00_
*Payment Schedule:*
You must make one payment of
$__455.00_____ on _8/3/2011 _ ___ if you
*decline** the option of renewing your
loan.
If renewing is accepted you will pay
the finance charge of $__105.00___
only, on _8/3/2011 ____. You will
accrue new finance charges with every
renewal of your loan. On your fifth
renewal and every renewal
thereafter, your loan will be paid down
by $50. This means your account
will be debited the finance charge plus
$50 on the due date. This will
continue until your loan is paid in
full.
*To
decline the option of renewing you must sign section “C” of the
Application
Supplement.
*Security
Interest:* This loan is unsecured.
*Prepayment:*
If you prepay your loan in advance, you will not receive a
refund
of any Finance Charge.
*(e)*
The Annual Percentage Rate is estimated based on the anticipated
date
the loan proceeds will be deposited to your Account, which is
_7/18/2011
_ ___.
*Notice:*
See below and your other contract documents for additional
information
about prepayment, nonpayment and default.
*_ITEMIZATION
OF AMOUNT FINANCED_* of $350 Given to you directly $ 350
.00
; Paid on your account $0 .
*_Promise
To Pay:_*You promise to pay to us, E Payday Loan, or to our
order,
in one payment, on the date indicated in the Payment Schedule,
the
Total of Payments, unless this note is renewed. If this Note is
renewed,
then on the Due Date, you will pay the Finance Charge shown
above.
This Note will be renewed on the Due date, unless at least three
Business
Days before the Due Date, either you tell us you do not want to
renew
the Note or we tell you that the Note will not be renewed.
Information
regarding the renewal of your loan will be sent to you prior
to
any renewal showing the new due date, finance charge, and all other
disclosures.
As used in the Note, the term “Business Day” means a day
other
than Saturday, Sunday or legal holiday, that E Payday Loan is open
for
business. This Note may be renewed four times without having to make
any
principal payments on the Note. If this Note is renewed more than
four
times, then on the Due Date resulting from your fourth renewal, and
on
the Due Date resulting from each and every subsequent renewal, you
must
pay the finance charge required to be paid on that Due Date and
make
a principal payment of $50.00. On or after the day your loan comes
due
you authorize us to effect one or more ACH debit entries to your
Account
at the Bank. You may
revoke this authorization, at any time up
to 3 business days prior to the due
date. However, if you timely revoke
this authorization, to effect ACH debit
entries before the loan is paid
in full, you authorize us to prepare
and submit one or more checks drawn
on your Account on or after the due
date of your loan. This
authorization to prepare and submit
checks on your behalf may not be
revoked by you until such time as the
loan is paid in full. You
authorize us to collect the payments
due by using your debit card
information that you provided to us
(this will be done as a POS
transaction). This may be done in one
or multiple amounts using various
debits until the amount you owe is paid
in full.I requested to revoke all
of this but it says I cant revoke them preparing checks.
Additionally,
if the account you have provided to us for your ACH debit
has
been closed or funds are not available at the time of our scheduled
debit,
you authorize us to debit any account that you hold that we have
information.
If your Account is with us, you authorize us to deduct the
*_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 ad judicatory
authority by the jurisdiction in which
the Lender is located over all
matters related to this Note and your
account, forsaking any
jurisdiction which either party may
claim by virtue of its residency.
Sorry guys I had it all cut up and highlited and it turned out like this when I pasted it.