Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 472,096 members


Debt Consolidation Forums Getting a loan or mortgage and avoid foreclosure

How do i stop ach debits from payday loans without closing m



RAPP0608

Posts: 3
Credits: 150.85
[Donate]
Sub: How do i stop ach debits from payday loans without closing m
Thu, 28/12/2006 07:19

How do i get out of ach debits from payday loans without closing my account



Article Rating: 
PinkLady
PinkLady

Posts: 1674
Credits: 27743.35

Sub: #1 When I was going through my PDL problem, I wasn't able to close Thu, 12/28/2006 - 07:19



When I was going through my PDL problem, I wasn't able to close my account either because of my direct deposit not being switched in time. The bank was able to place a hard hold on my account for all debits and they only allowed the credits at no charge. They were able to switch my Check card to my other account so all my pending transactions posted on my new account. When I needed to get the money from my direct deposit they would lift the hold for about 2 minutes while I did a transfer. Unfortuatnly all banks are different but you just need to sit and talk with them to see how they can help you.

ILLINOIS LICENSE SEARCH / CONSUMER CREDIT / GUIDE TO PAYDAY LOANS
http://www.idfpr.com/dfi/ccd/ccd_licensees.asp

ILLINOIS PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=IL

WISCONSIN PAYDAY LOAN LAWS
http://www.paydayloaninfo.org/state_detail.cfm?id=WI

WISCONSIN LICENSE SEARCH
http://www.wdfi.org/fi/lfs/licensee%5Flists/


Glynnie11
Glynnie11
Posts: 205
Credits: 1865

Sub: #2 reThu, 12/28/2006 - 05:18



Probably if you listed the specific PDL's that are hitting your account you will get better advice.

In general life will be a lot easier if you can bite the bullet and get those loans paid off but its hard to say not knowing which ones you owe money to.


dbaker6
dbaker6

Posts: 1588
Credits: 14747.95

Sub: #3 Unless you get it closed for all ACH debits, keep an eye on yourFri, 12/22/2006 - 14:45



Unless you get it closed for all ACH debits, keep an eye on your account. When I was going through this, even though I had put stop payments for all amounts for these companies, the bank was still putting them through. Luckily, I would catch them while they were still in the pending stage, and they would reverse it along with the overdraft fee. Have you sent letters to these PDLs yet? If you tell them you don't authorize any more debits and that your account is frozen, they may work out a payment plan with you (if you owe anything). Good luck.


Unregistered

Sub: #4 If you request stop pays on ACH's make sure you ask if it is guaFri, 12/22/2006 - 11:35



If you request stop pays on ACH's make sure you ask if it is guaranteed. After I paid my bank for stop pays on ACH's they told me that they weren't guranteed. That was 3 weeks ago...now I find that some of the PDL's inserted a digit change on their id number which also allowed them to continue hitting my account weekly.


bdouble
bdouble
Debt Samaritan
Posts: 341
Credits: 5674.1

Sub: #5 I would go into the bank and speak with someone. They will helpFri, 12/08/2006 - 09:47



I would go into the bank and speak with someone. They will help you decide what the best options you have with your account. Some banks will close your accounts to credit only or will give you a new account #


jedijeff13
jedijeff13
Posts: 1738
Credits: 892.05

Sub: #6 True. My thought is there may be specific companies he would allFri, 12/08/2006 - 09:38



True. My thought is there may be specific companies he would allow to debit.

But I do prefer your idea, nat. Shut it all down, if you are comfortable with that.

Do, or do not. There is no try.

Stupidity At Light Speed


natdust20
natdust20
Posts: 1277
Credits: 16426.74

Sub: #7 I think that he has more than one company. You can just go to yoFri, 12/08/2006 - 09:32



I think that he has more than one company. You can just go to your bank and ask for them to place stop payments on all debits for any amount. They will ask if you want only one amount or all. If a PDL company can't get out the full amount that they want, they will try to send it through in smaller amounts.


jedijeff13
jedijeff13
Posts: 1738
Credits: 892.05

Sub: #8 Rapp - If I was you, I would go into your bank, sit down with a Fri, 12/08/2006 - 09:28



Rapp - If I was you, I would go into your bank, sit down with a banking rep and just ask if they can stop all direct withdrawals from a specific company.

Do, or do not. There is no try.

Stupidity At Light Speed


RAPP0608
RAPP0608
Posts: 3
Credits: 150.85

Sub: #9 How do i go about doing thisFri, 12/08/2006 - 09:20



How do i go about doing this


natdust20
natdust20
Posts: 1277
Credits: 16426.74

Sub: #10 Yea, I think you can. It might get a little costly to have it doFri, 12/08/2006 - 09:18



Yea, I think you can. It might get a little costly to have it done, but in the end it will save you alot of money.


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


Page loaded in 1.730 seconds.