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Posted: Fri Mar 28, 2008 7:05 am Subject: Always read the fine print

One of my friends received a dunning letter from Calvary and it states on the back of the letter (in fine print) if you send them a check you are also authorizing them to make a one time electronic withdraw from your account. I guess they want to debit your account for the rest when yous end them a payment. Quite deceitful...

Posted: Fri Mar 28, 2008 7:36 am Subject:

I don't know if it is just TX but there is a Check 21 law. Any merchant can do that.

Guest · Posted: Fri Mar 28, 2008 8:00 am Subject:

I WOULD NOT give any collection agency any banking info!!! Send a money order.

Posted: Fri Mar 28, 2008 5:49 pm Subject:

+1 to that!

Posted: Fri Mar 28, 2008 5:54 pm Subject:

what that statement means is this--when you send them a check, they dont send that paper check to your bank to cash it. They send the debt electronically to your bank using the account information on your check. It is not illegal to do so. In fact, you have a written record of the check when you write one, so if they tried to take out more than that amount, it would be pretty stupid on their part--easily proveable with your check register, or more preferrable, carbonless copy of the check. They wouldnt have a leg to stand on if you had that check copy.

Posted: Sat Mar 29, 2008 12:50 am Subject:

Posted: Sat Mar 29, 2008 3:58 am Subject:

I agree. I just think it would be less stressful for you to send in a money order. That way the agency doesn't have your checking information and you don't have to worry about them taking more out. It is just easier.

Thanks for the information. It is soo important to read everything when dealing with companies such as collection agencies.

Posted: Sat Mar 29, 2008 5:12 am Subject:

Money order is the way to go, I agree with guest and socksfullofrocks completely on this one, I would not give my bank account information to any collection agency, next thing you know they are authorizing themselves to take out monies that you did not agree to and it is a pain to get it back. owe it or not.

Posted: Sun Mar 30, 2008 4:03 pm Subject:

If you read through other threads you will see they actually do go into your account and take more money. From another thread I read where sometimes your own bank won't help you fight it. This definately screams MONEY ORDER. You probaly already lay around fearing collectors threats..why add the fear of unlawful money taking to that.

Posted: Sun Mar 30, 2008 5:59 pm Subject:

For anyone who thinks it's a good idea to let a CA have your banking info [by a paper check or otherwise], go spend some quality time reading the PDL forum here on DebtCC. See if that don't change yer thinking.

Posted: Mon Mar 31, 2008 5:46 am Subject:

Yeah, that would do it. Just remember boys and girls PDL= Predatory lending.

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