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Posted: Mon Dec 10, 2007 10:46 am

I called my bank and could not close withoput PDLs reopening. Bank advised stop payment. Good for 6 months. Includes debit and paper check transactions. I can call bank back in 6 months and renew stop payment for no charge. It cost me $35.00 per trasnaction. I could only afford to do 2 today and will do the other 2 Friday. What can I expect to happen from the PDL companies. My previous correspondence here stated that my 4 PDLs were not licensed in Ohio and/or illegal. I have paid back what I borrowed plus interest except for one which should be about $50 more including interest. Please help me with the next plan of action. Thank you.

Posted: Mon Dec 10, 2007 10:52 am

Can't your bank put your account on a hard feeze where nothing can go out. Are they telling you you can't close your account because it will be forced open by the ACH withdrawls or is it in the red?

Posted: Mon Dec 10, 2007 10:54 am

You can't succesfully do a stop payment as the PDLs will change the amount and there name and just come right back at your account. I would go there and meet with the branch manager to discuss your options. Explain that you have paid these back and this is unauthorized. You have the right to revoke ACH withdrawals at any time.

Posted: Mon Dec 10, 2007 10:54 am

bj...these were internet loans correct?? The only problem with stop payment orders is that they can only be for 1 specific company and 1 specific amount. Many of the internet lenders...especially the non-legal ones--when they can't get through they will turn around and send it through again for a different amount or under a different name. Even though your account works by being forced open they should still be abelt to put a hard debit block or deposit only status on your account to give you more protection.

Your next plan of action would be (Uusally after account is closed and your money is safe) to send each lender a letter revoking their right to debit your account, revoking any wage assignments, asking for a paid in full statement and/or offering the balance of the principle you still owe. But the account has to be closed first or they will cotinue to try to take the money out. They rarely actually listen to our requests...

Posted: Mon Dec 10, 2007 10:54 am

The stop payments will not work. These pdls have so many different names that once they find out you stopped payment they will put through another ach using a different name and amount. The onky way to stop it is to close the account or out a hard block. They will use so many different names amd amounts that it is impossible to stop paymnet on them

Posted: Mon Dec 10, 2007 10:57 am

Great minds think alike!!

Posted: Mon Dec 10, 2007 10:58 am

Yes we do we all posted together

Posted: Mon Dec 10, 2007 10:58 am

we must have all posted about the same time!!

Posted: Mon Dec 10, 2007 11:07 am

I asked my bank about the possibility of the pdl using another name to collect. they said to contact them if that happens. i have to have a checking account because my employer only does direct deposit.
i changed my social security check to paper check.
i am starting to feel that i can't beat this now. so what is the use.

Posted: Mon Dec 10, 2007 11:14 am

Contact the bank?? Will they reverse all the charges ?

Posted: Mon Dec 10, 2007 11:30 am

Kashzan, bank said we can deal with that if it happens. does the abk charge a fee to freeze/block debit?

Posted: Mon Dec 10, 2007 11:44 am

They shouldn't charge for blocking the account or closing it for you. Are they saying if the ipdl changes their name or debits for a different amount that they will turn it away??Or reverse the charges?? If that is the case than you should be ok ...for now. Somehow though you will have to open another account. These pdls can come back months and months later to try to recover what they think you owe. That is why we recommend that you close the account completely and change to a different bank. Please don't think it's hopeless...many of us have been through the same things...that's how we know what works and what doesn't...keep going ...you will get out of this!!

Posted: Mon Dec 10, 2007 11:48 am

It definately will happen, and you need to find out what the bank will do. If they keep accruing charges it will cost you a fortune.
Morning is right, you need to close the account. You will never be free of them. They have come back after a year and debited from some members who have kept the accounts open, also from some members who had paid them

Posted: Tue Dec 11, 2007 5:51 am

my bank only does stop payment. do i call pdls or email them. what do i say to them. i have morally paid back all that was borrowed plus some interest.

Posted: Tue Dec 11, 2007 5:57 am

Then change banks. You can not put stop payments on PDLs. They use nmany different names and will even change the amounts to get your money. If they find out you stopped payment, they will just put thru anothey ach or even a paper check under another name and they will clean you out. Why can't you close your account. Unless you do , you will never be free from these guys.

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