 Posted: Sat Jul 05, 2008 1:52 am Subject: |
|
|
Hello Kevin and welcome to the community!  It IS very legal to revoke ACH transactions, refer below. Unfortunately, this won't stop them from debiting your account, BIG is highly illegal. There are only two ways to prevent further debits from your account, either by closing it out, or placing a hard debit block on that account. What state are you in so we can post your pdl laws?
| Quote: | Regarding the EFTA and Universal Debit Agreements..
ยง 907. Preauthorized transfers
(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer. |
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
|
|
Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 3806
Debtcc Points: 24940
|
