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Guest · Posted: Sat May 10, 2008 8:25 am

Hi. I live in Mississippi. I have a store-front loan that I have made payment arrangements for and I have already made one payment to them. I closed my old account and opened a new account at a different bank. When I woke up yesterday morning, there was a ACH transaction from this company. I have no idea how they got my new account number. I had to pay my bank $29 to stop this transaction...that I did not authorize in the first place. Is this legal?

Posted: Sat May 10, 2008 8:30 am

I am not sure if this is legal but someone will be along soon to help you. They have helped me greatly with my problems. Have a good day

Guest · Posted: Sat May 10, 2008 10:04 am

thanks

Posted: Sat May 10, 2008 10:09 am

Hello guest, when you made this first payment to the store front you arranged payments with, how did you pay them? Check, money order, cash?

Posted: Sat May 10, 2008 10:24 am

I am thinking the only way they could have gotten this information was if you had given it out to them by perhaps paying by check..? Did they ask you if you had a new account?

Guest · Posted: Sat May 10, 2008 10:39 am

Your new bank probably pulled a chexsystems report, which will show as an inquiry. the pay day lender (storefront or internet) can pull a checxystems report and see which banks have made any inquries recently. You agreement with the pay day lender probably gave them the right to debit the account you used to get the loan as well as any future accounts...this is typical. All they have to do is contact your new bank that they found through checxsystems and let them know that they have authorization to debit the account.

Guest · Posted: Sat May 10, 2008 11:10 am

Is there any way that I can get my bank to stop future transactions. When I paid them, I paid them by cash, but I have the receipt

Revoke ACH · Posted: Sat May 10, 2008 11:12 am

You will have to revoke ACH authorization with the pay day lender directly.

Posted: Sat May 10, 2008 11:13 am

Guest, can't you dispute this with your bank?

Guest · Posted: Sat May 10, 2008 11:15 am

I did dispute it with my bank. I explained to the bank that I did not give the PDL this account number. They made me pay $29 for a one-time ach stop payment.

Guest · Posted: Sat May 10, 2008 11:18 am

its apparent that this pay day lender had authorization to debit your account and unless you can prove otherwise to the bank they can authorize the debit. contact the pay day lender and revoked authorization.

Guest · Posted: Sat May 10, 2008 11:21 am

If I call them and revoke authorization, they cannot debit my account any more? Can I call them and tell them this, or do I need to do it by mail?

Guest · Posted: Sat May 10, 2008 11:22 am

in writing would be best.

Guest · Posted: Sat May 10, 2008 11:33 am

thanks

Posted: Sat May 10, 2008 11:44 am

How can they debit her other account? Isn't against the law for the bank to let the pdl do that if the pdl called and said they had permission to do so. I thought they could only debit from the account that you gave them in your loan documents. This seems fishy to me.

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