RE: Stop Payments or Freezing Checking Account

Oh yeah, the credit union gave me a bunch of grief about fighting the pdl companies. But I changed credit unions so I don't have to deal with their uncustomer service.

It's easier to have the account marked as deposit only, to prevent a slip-up that allows a debit to be paid that you don't want paid. But if you can talk them into opening another acct at Chase, you can have them honor the debits you DO want paid via the new acct.

My experience so far has been less than positive but I will share it with you nonetheless.
Thankfully I opened a new account with Bank of America,before I even started the debt consolidation process. My bank account at Washington Mutual,the one the PDL checks were written on, has not been working very well. I went into my bank and put stop payments on the PDL's checks. Unfortunately, the bank computers were down so by the time they got it entered into the system on of the PDL checks had been cashed. This made my account overdrawn by $500 which meant I could not close my account until I brought it to a zero balance. I have been focused on getting other things caught up payment wise,in addition to paying T&C, so had not brought the account to zero. I went online to my account to send an email to my bank to see if they would make the account deposit only. It was at that time I saw that another check was cashed even though I had put a stop pay on it and my account was already overdrawn. Now my account is over $1500 overdrawn. I went into the bank today and asked what had happened. The lady I spoke with looked at my account and agreed that the check should not have been paid. She said she needed to speak with the people in the stop pay dept on Monday and then would get back to me on what they could do about my account. I was also told I could not make my account deposit only unless I could prove fraud had been commited on my account. Not sure what other options I have at this point. I'm hoping I will get some good news on Monday. Hopefully you will have better luck with your bank. I would definitly do whatever you can to open a new account and get your deposit directed to that.

I chose to close my BofA account completely when going with T&C and not have to deal with them and the PDL's at all. Maybe once you get all of your electronic payments stopped it might be beneficial to open an account somewhere else.

Hi celticlass

Talk to your bank and ask them to block the ID code of the payday loan company. When this id is blocked, no company can debit your account even if they try with different amounts. Sometimes, the companies can take out money even after putting stop payments on some checks. In this case, blocking the code will be the best option for you.

Otherwise, closing the bank account will be the best option for stopping the debits in your account. The companies will contact you later for making arrangements with you. Don't give your new bank information to them. Otherwise, you will find yourself in the same situation where you were in the beginning.

She was rude and very unhelpful i e-mailed them the
First this this morning she accused me of not caring
And rude these people should be fired out right and
I going to the state attorney office after my bill
Is paid and i want this company investigated i think
They are nothing but lone sharks with nasty fangs i couldn't get over how rude they are and i have also
Been fighting with a company saying i haven't paid yet
They call every month and ask for the balance i have
A letter stating paid in full which i read to them i
Told them i was getting a lawyer to charge them with
Harrssment. If they called again i have tried for
Address to send payment they opt not to give me a
Address to send the moneis owed i said that if they
Don't send me something they are not getting a cent.
These people need a check out they are crooks

If you have a letter stating the balance is paid in full, then you owe no one else on this loan.

Hi Kristine

You must get the details of the account in writing before sending any payment. You have to identify first if the company is authorized to receive any money from you. If they have any legitimate details, it must be given to you in writing.

Tammy is right, if you have something in writing that shows the said account has been paid, you owe nothing to anyone for that account. Anyone asking for money on that account is either not having your latest information or are trying to make illegal collections.

Curlycarl, thanks for the advice. I was trying to think of some way to make the bank stop the electronic hits but didn't know what specifically to tell them. I really appreciate your help.

celticlass, keep us posted on this matter. We will like to hear from you if everything worked well with your bank. I am thinking positive in your case. :D

My bank will not stop taking payments for an alarm systems, in which I was told to call the alarm system and I did and was told they would continue to take payments until the year of 2014 not matter what the situation was unless a death certificate have been send to them because of a contract for 5 years was written in fine print and signed in which I was not aware of the five years nor did the representive, house to house salesman tell me about the five years and also was not $50. monthly. What if I just closed the account at the bank and open another account at a different bank. I did ask the bank about closing the account and opening another account with them and i was told payments would still come out because I gave the alarm system company permission to take payments from my account even if i got a new bank card.

Change banks. Then they won't be able to withdraw funds. However, they may be able to sue you.

Guest, you can try and use the Electornic funds transafers Act http://www.fdic.gov/regulations/laws/rules/6500-1350.html and write the Alarm company 3 days before the payment is due that you do not authorize any payments out of your account. Give a copy of to the bank.

Might be worth a shot. If that doesn't work,then close your account at the bank (provided it's in good standing) and go to another bank, worst that will happen is the Alarm company will send your account to collections and you can dispute the amount then. You can also tell the alarm company you wish to cancle your service. Did you sign a contract with them? You might have to pay a canclelation fee.

I also complained to the supervisor (one who actually opened my account) when i wanted to dispute an amount with a pdl that I never gave access to the account. The Clerk handling the transacation basically said since I gave them permission to access my account they couldn't close it.. and she useto work for a PDL company. Well that's all fine and dandy but I didn't give them access to THAT account number.. it was a brand spanking new account. Needless to say she got in trouble from the supervisor. :)