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Matt_2007 · Posted: Fri Oct 12, 2007 10:59 am

I took out at PDL with the above as the creditor (apparently). I disputed the validity of the loan as they are not licensed to do business in my state (IA). Eventually, I closed the checking account I used to open many, many PDLs with (all are resolved except, apparently this one). Lo and behold, today I find out that they have debited my NEW checking account for the full amount of the loan plus fees and interest. I have NO idea how they got ahold of my new information (I have no PDLs on this new account) and I can't imagine it's legal for them to do so. My bank is returning the unauthorized debit, but does anyone have thoughts on how to proceed? What do I say to them about what they've done? Is this in fact illegal?

Thanks for all your help!

Posted: Fri Oct 12, 2007 11:13 am

I'm sure someone will be along shortly, who is more knowledgeable than myself. But I would have to say it isn't legal for them to debit an account, that they were never authorized by you to debit. I would file complaints with the FTC, the BBB and your states AG. These places are just evil, they seem to think they don't need to follow the laws.

Posted: Fri Oct 12, 2007 11:13 am

Did you apply for any PDLs with your new checking account

Matt_2007 · Posted: Fri Oct 12, 2007 11:14 am

I haven't applied for any PDLs with the new number.

Posted: Fri Oct 12, 2007 11:16 am

PUNk, it may have said in his contract that he authorizes debits from this account or ANY account he may have

Matt_2007 · Posted: Fri Oct 12, 2007 11:20 am

I sent a cease and decist letter stating that they have no authorization to debit my account and that they are not licensed to business in my state. They chose to disregard the letter completely.

Posted: Fri Oct 12, 2007 11:22 am

Matt..the new account, is it at the same bank?

Posted: Fri Oct 12, 2007 11:23 am

ITs no wonder as they are so illegal that they give illegal a bad name

Matt_2007 · Posted: Fri Oct 12, 2007 11:23 am

No - different back.

Posted: Fri Oct 12, 2007 11:24 am

Thanks for correcting me Kash....I didn't think of that! I knew someone would be along more knowledgeable. Smile

But I'm learning, slowly but surely!

Matt_2007 · Posted: Fri Oct 12, 2007 11:24 am

Sorry - bank (not back)

Posted: Fri Oct 12, 2007 11:32 am

I think Geneva Roth is known to do this. Somehow they find the new account information. I find this to be very scary. It is illegal, there's no question about it.

Posted: Fri Oct 12, 2007 11:36 am

How on earth are they doing this??? I work for a bank and I know that account info is closely guarded and not shared or made matter of public record.

As a matter of fact, the bank has a duty to safeguard this info.

I need to look further into this....

I would also contact the OCC...Office of the Comptroller of Currency. If there is one thing private, its your banking info.

Posted: Fri Oct 12, 2007 11:37 am

Jen, what scares me is if one PDL does it they can all eventually do it.Apparently it is not too hard to do, as this is about the 5th time this week i have heard it done. Yes, they are an illegal co, so anything they do is illegal but, IF Matt signed the stupid thing that gave them authorization to debit any and all accounts he may have they figured why noy give it a try

Guest · Posted: Fri Oct 12, 2007 11:41 am

Kash, what other companies have you heard doing this? I've only heard of Geneva Roth. Goudah even said it's pretty rare for this to happen. And I agree with Volley, our account information should be guarded with the utmost security. What the heck is going on there that they are able to do this?? Are they using some kind of illegal program that allows them to hack into bank information.

Posted: Fri Oct 12, 2007 11:42 am

That was me above, sorry.

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