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Posted: Wed Apr 23, 2008 5:00 pm

I was wondering how I would go about stepping up my payday loan companies to stop electronic withdrawal from my bank account?
I have loans out through
CashNetUSA
CashTransferCenter
Little Loan Shop
Advance Discount IG

Do I have to go through my bank because I already talked to them and to stop payment on each withdrawl would cost me $29 each.

Posted: Wed Apr 23, 2008 5:07 pm

Oh my gosh jeoestreich, $29.00 per transaction, that's outrageous, but there is a better way. First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet (although I am assuming they are all Internet since they're making withdrawals)?
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it! Smile

Posted: Wed Apr 23, 2008 5:11 pm

I am in Wisconsin and they are all Internet loans
CashNetUSA-I borrowed $300 have not paid anything towards the balanced but paid 150 in fee
CashTransferCenter-borrowed $400 paid nothing back
Little Loan Shop borrowed 300 and paid 90
Advance Discount-borrowed 400 paid back nothing

Posted: Wed Apr 23, 2008 5:16 pm

OK, first of all, here are your state laws.

Posted: Wed Apr 23, 2008 5:24 pm

It is not an option for me to close my account. What is a hard debit block?

Posted: Wed Apr 23, 2008 5:27 pm

This will block all debits of any kind (even yours). Your deposit will still go in but the pdls will not be able to debit your account.

Posted: Wed Apr 23, 2008 5:34 pm

Is there anyother way that I could get it to stop because all of my bill are electronically debited from my account? Grrr.. I am so fustrated right now. I have already contacted Oak View Law Group and I am working with them.

Posted: Wed Apr 23, 2008 6:14 pm

This is all so confusing. I just want to get my life back. Grrrr....

Posted: Wed Apr 23, 2008 6:26 pm

joe, in order to prevent these pdls from debiting your account, you will either have to close it or put a hard debit block on it - period. You can not block these pdls. They will change names, dates, amounts, send through electronic checks, whatever they can possibly do to access money from your account. As long as your account is open/active with no block whatsoever on it, they will debit the hell out of it. You can revoke their debit authorization in writing; however, they do NOT pay attention to it. They will continue to debit as long as the account is accessible.

Posted: Wed Apr 23, 2008 6:41 pm

Do you know if a hard debit block will cost anything to do?

Posted: Wed Apr 23, 2008 6:46 pm

No, it costs nothing. However, with a hard debit block, nothing will go through. Not even your checks, ATM card, etc. Nothing. You're going to have to open a new bank account somewhere so that you will have a "working" account. This way you can still go about your business, have your direct deposit put in, have your automatic bills taken out, etc. The account with the hard debit block can remain that way and credits can go in, but NO debits will come out. You'll have to switch everything over to your new "working" account.

Posted: Wed Apr 23, 2008 6:50 pm

Cool! Do you reccomend open an account at the same bank or a different bank?

Posted: Wed Apr 23, 2008 8:30 pm

I am going to put a hard debit block on my account next week and opening a new one. After this is done do I need to send a letter to them to tell them not to contact me or does Oak View Law Group does that? I talk to them eariler in the day but I cannot remember.

Posted: Wed Apr 23, 2008 8:44 pm

Actually, we do advise going to a completely different bank. We just feel as though it's "safer" that way to prevent the pdls from "finding" your new account. However, we have members who have opened new accounts with the same bank. If you do decide to do this, just get the assurance from your branch manager that the two accounts will not be "linked" in any way. In other words, anything that tries to hit your blocked account will not affect your new account. If at all possible, get something in writing stating this. We don't want them going to your new account to take up the slack from the blocked account. Okay?

If you are working with Oak View Law Group, let them handle everything. You are paying them. Let them earn their money. If you get any correspondence from plds, forward it on to Oak View. If you get any calls from plds, direct them to Oak View & give them their phone number. You are paying them to do your "dirty work" for you so that you don't have to put up with the harrassment from the pdls. So, actually, I would leave it up to them. When "doing it on your own", we do send letters. However, when using a company to do the job for you, let them do it. That's why you're paying them. Wink

Posted: Wed Apr 23, 2008 9:00 pm

I actually changed my mine using Oak View Law Group. I only have four loans. Do you think I could do it on my own?

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