First, I want to apologize if this post is already here. I've tried different search criteria before posting but I'm still confused.
Here's my status:
Hubby and I have ten payday loans. Five are in our joint account and four are in his individual account.
I researched info. here (THANK GOD FOR THIS FORUM BTW!!) and called Bank of America, explained the situation. The CS rep. suggested that since I have checking advantage to stop all the ACH debits for 4/15 (next ach debits on my payday). Luckily, there weren't charges per transaction. I did express concern that the payday companies would alter the amount due to get back into my checking account, but she estimated two business days for them to figure out that it was returned, so that gives me time to get the money out of my account.
I have to wait until Tues. 4/7 for two pending checkcard transactions to clear, then I can officially close the account.
Next, I was able to open another checking account online.
My question is: What do I do Next? I know I need to write the ACH revoke/Wage revoke letter but how do I find out which companies are illegal and legal in Fl -- I went to this website but got lost:http://www.flofr.com/
Also, if the company has multi-names, how do I find out if this company is legit or not?
How do I settle my debt with these companies and how much will I owe them -- how much interest can they collect?
Here's my summary:
My husband's checking account:
Payday loans paid on 3/27
1. Pending ACH HOLD CMG Group
LLC ON 03/27
2. Pending ACH HOLD Vince
Enterprise ON 03/27
3. Pending ACH HOLD Northway Fina
nci PAYMENT ON 03/27
4. Pending ACH HOLD Northway Fina
nci PAYMENT ON 03/27
Total taken out every two weeks out of this account: $531531.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.