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Stupid as I know it was, I feel back into the payday loan cycle. I pulled myself out and I notified all of my lenders and was able to arrange payment plans/paid-in-full with all of them except Everest Cash Advance. Never heard back from them. When I revoked ACH authorization it was too late to change my direct deposit from my employer so I couldn't close my checking account. I did however have my bank put a stop payment to Everest.

Low and behold, the morning of my payday I see no attempt from Everest to ACH any money, but I see a check issued to SCS Processing for the full amount of my loan plus interest with Everest. A Google search says they're the same company.

I called the check fraud department of my bank and they basically told me that because I gave Everest my account information at one time their dba and affiliates can write a check under my name whenever they want and for whatever amount they want even if authorization was withdrawn without it constituting fraud. Is this right? I owed $40 on my principle to Everest, and their dba SCS Processing took $520. What recourse do I have?

You need to go into a branch as show them the ACH to the branch manager ONLY. The fraud department is WRONG. You did the revocation...the bank MUST comply under REG E of the FDIC.

You should have closed your bank account and told your employer that you bank had been compromised...they would have issued you a paper check.

Sub: #1 posted on Thu, 08/22/2013 - 20:30

Moderators Cum Industry Expert
(Posts: 17214 | Credits: 4746.7)

I'll go to the branch today. My account is closed as of now. Does the ACH revocation apply to checks? The rep on the phone was telling me that my revocation only applied to their ability to use ACH, not their ability to write a "paper" check, which is why it wasn't considered fraud.

Sub: #2 posted on Thu, 08/22/2013 - 20:35

Skippy Skippy

(Posts: 4 | Credits: 1.82)

because no gave them no authorizatio to do that either.again see the manager and get that 520.00 back!

Sub: #3 posted on Thu, 08/22/2013 - 21:30

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15511 | Credits: 1357.03)

I just got back from the branch. The manager was able to place the claim and it was reversed. The audacity of these companies is stunning. Thanks for you help!

Sub: #4 posted on Thu, 08/22/2013 - 21:39

Skippy Skippy

(Posts: 4 | Credits: 1.82)

i don't wanna get anybody in trouble,but you might want to mention this to the manager too.if the tellers don't know,or can't help they should keep their mouths shut.

Sub: #5 posted on Thu, 08/22/2013 - 22:48

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15511 | Credits: 1357.03)

great on getting your money back!!

Sub: #6 posted on Thu, 08/22/2013 - 23:58

bingonut bingonut

(Posts: 1433 | Credits: 168.82)

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