Debt Consolidation Forums Payday Loan help forums

Hard blocks and closing accts

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Just a little info i learned from my bank this month. I went in to close my account and he told me that most hard blocks work but they have been seeing more and more PDL places have found ways around the holds by changing the money amounts by a cent and it gets around the block.




Yes, they are sneaky. The best thing to do is to close your account and make sure that it can't be forced back open by ACH transactions.

Sub: #1 posted on Mon, 08/18/2008 - 01:29

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

how could that work? i thought a hard block block everything trying to come out?
i know for my payday loan struggles, the hardest part was dealing with the bank

Sub: #2 posted on Mon, 08/18/2008 - 22:04

bea2ls bea2ls
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(Posts: 3840 | Credits: 370.56)

A hard block with stop all transactions.

The OP is referring to a stop payment on an ACH. When a stop payment is done, it's done for $X. So all the company has to do is put the transaction through for $X.01 and it will go through. That is why we say stop payments won't work.

Sub: #3 posted on Mon, 08/18/2008 - 22:28

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

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