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 Posted: Wed Apr 30, 2008 7:13 am
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I would think it would only stop transactions on your account - One person revoking authorization is not a reason to not go through with charges on other people's accounts.
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goudah2424
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Posted: Wed Apr 30, 2008 7:15 am
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Are we working to try and develop a list of the processors for each PDL?
I might of missed that in an earlier post... my momm's been sick and I haven't been able to be on as much as I'd like to.
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angell
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Posted: Wed Apr 30, 2008 7:17 am
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| Code: | | I do feel though, and James will confirm this, that once you stop the funding source and the means to get it transacted, where will they be? Out of Buisness I hope! |
I understand what you're saying Goudah, this comment by lw is what prompted me to ask. I am assuming that the more people that use this method, the better the chances of shutting down some of these pdl companies. I am just curious though, I wonder how many revoke requests these ach companies will need per pdl before they decide to cut them off altogether. Hmmmmmmmmm
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Shazzers
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Posted: Wed Apr 30, 2008 9:58 am
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Hi Shazz..
1. Think of it this way....The processor has your bank information. Let's say Shazz has bank acct #1234. They will stop ANY ACH to bank acct #1234 that goes through them. They will tell you, not vice versa, which companies process through them. At that point, you can revoke authorization universally. If any company tries to submit an ACH after this is done, it will not get to your account and there will be a world of trouble for them. These companies have a DIRECT LINK to the Federal Reserve. They do not mess around.
2. ACH Companies are limited in number, and extremely strict. The members here that have contacted them will confirm that they do not appreciate any abuse of their system. Finding a new ACH company requires an extensive investigation into business licenses and practices. It's not a bridge that can be burned. The members here that have done this will also confirm just how quickly the PDL backs off if this button is pushed. If a lender gets thrown out by the ACH company for a rules violation, they will not be able to collect ANYTHING through electronic means.
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Posted: Wed Apr 30, 2008 10:04 am
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| Code: | Hi Shazz..
1. Think of it this way....The processor has your bank information. Let's say Shazz has bank acct #1234. They will stop ANY ACH to bank acct #1234 that goes through them. They will tell you, not vice versa, which companies process through them. At that point, you can revoke authorization universally. If any company tries to submit an ACH after this is done, it will not get to your account and there will be a world of trouble for them. These companies have a DIRECT LINK to the Federal Reserve. They do not mess around.
2. ACH Companies are limited in number, and extremely strict. The members here that have contacted them will confirm that they do not appreciate any abuse of their system. Finding a new ACH company requires an extensive investigation into business licenses and practices. It's not a bridge that can be burned. The members here that have done this will also confirm just how quickly the PDL backs off if this button is pushed. If a lender gets thrown out by the ACH company for a rules violation, they will not be able to collect ANYTHING through electronic means. |
Thank you for the very explicit explanation, it's very much appreciated. 
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Shazzers
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Posted: Wed Apr 30, 2008 10:17 am
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I just spoke with Gail Sauter of advantage ach about upfront cash, who they service. She said that they can not do ANYTHING about stopping ACH's. What now?
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shoppinbuczek
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Posted: Wed Apr 30, 2008 10:57 am
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Not a surprise with Gail. See my site and reference the name. What state are you in? What state are they in?
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Posted: Wed Apr 30, 2008 11:08 am
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I am Illinois. The PDL is in Utah
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shoppinbuczek
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Posted: Wed Apr 30, 2008 11:54 am
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I called intercept they told me to contact my bank.
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jacks1392003
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Shazzers
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Posted: Wed Apr 30, 2008 12:25 pm
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Not a problem. Let's get gail to respond in email..
Send this to gsauter (@) advantagepaymentsys.com and copy jjaramillo (@) utah.gov
Hello Gail,
I have been trying to revoke ACH Authorization with your client, Upfront Cash, and wish to be certain that my account will no longer be accessed in any way. They have refused to provide me confirmation that this is done. Just to be clear and per our earlier conversation, your stated position is that as an ACH Processor neither you, Moneygram, or ACH Commerce have a responsibility to insure that I am able to revoke authorization with your clients. Such a statement would appear to be in direct conflict with the operating rules of NACHA. Please confirm whether you will or will not assist in this matter prior to my pursuing remedy via the National System of Fines per NACHA.
If I have misunderstood your comments in any way, please confirm that Upfront Cash, a Licensed Utah Lender making loans in Illinois using Moneygram, ACH Commerce, or yourself as a processor, will accept my Letter of ACH Revocation.
I have also copied Mr. Jerry Jaramillo of the Utah Department of Banking as I dispute your client's attempted enforcement of a Utah License in the state of Illinois.
Regards,
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Posted: Wed Apr 30, 2008 12:35 pm
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any one have an email for a US fast Cash processor?
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jacks1392003
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Posted: Wed Apr 30, 2008 12:39 pm
Latest Blog Post : http://jeoestreich.yesdebtfree.org |
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If I do this this way, I should still send a letter to the pdl company saying that I revoke their ach authorization of my account right. I just want to make sure that I have all my bases cover before I start anything.
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jeoestreich
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Posted: Wed Apr 30, 2008 12:47 pm
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US fast cash - processing (@) moneygram.com
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Posted: Wed Apr 30, 2008 12:48 pm
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I just sent the e-mail. I have not actually sent the revoke letter to the company because I wanted my bank to close the account first before they could grab when they could. But, I am going to fax that letter in just a little bit.
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shoppinbuczek
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