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How can I stop pdls from continuing to remove money?  

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I have 4 PDL's right now. I am more than willing to do payment plans for 3 out of the 4.

Cashnet 500-Paid 0
Cashjar 300- Paid 100
Speedycash-300- Paid 0
OneClickCash-350- Will have paid 470 on Friday.

The problem is, OCC is saying that I still owe 455, the 470 has not gone towards any of the loan. They said everything I've paid is loan fees.

Do I close my bank account, and if so, how can I do that if I'm having other PDL's taken out? I'm having so much anxiety over these...
 

asked Mar 18, 2010 12:20 AM

Anonymous
Anonymous

10Answers

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Before closing your bank account for payday loans, you must be aware of certain things. As there are banks having policies about automated clearing house (ACH) transactions, which allows them to force open closed accounts. It occurs if ACH transactions take place within a specific time frame after the closing of account. So it's better to ask your bank before closing the account. You may ask the bank to put an ACH block or hard hold before closing.

It's good to close your account but better check out the State Attorney General or Department of Financial Institution before you chose to close your account.

answered Mar 18, 2010 02:51 AM

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You need to check the licensing status of your lenders before taking steps like closing your account. You may face legal consequences for closing your account without informing your lenders if they are legal. You may read the following sticky before you close your account.

http://www.debtconsolidationcare.com/paydayloan/close-account.html

You can confirm the licensing status your lenders from the following link.

"http://azdfi.gov/Lists/Lists.htm"

answered Mar 18, 2010 03:54 AM

SC
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The only one I don't want to have access to my account is OneClickCash. How can I stop them from continuing to remove money? As of tomorrow, they will have the loan paid off, plus more than the principle. But according to them, I still owe another $455 on a $350 loan!

answered Mar 18, 2010 09:30 PM

Anonymous
0


Quote:

Originally Posted by Anonymous;669122
The only one I don't want to have access to my account is OneClickCash. How can I stop them from continuing to remove money? As of tomorrow, they will have the loan paid off, plus more than the principle. But according to them, I still owe another $455 on a $350 loan!

There's only one way to stop them and that is to close your account. Even if you do pay them off your account will never be safe again, Internet pdl's share information, so, it may be a week, month or even a year from now they may decide to debit your account out of the blue, or they may change their name and debit your account.

answered Mar 18, 2010 10:07 PM

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Cashjar isn't a licensed lender in your state either. CLICK HERE to find out how to deal with illegal lenders.

answered Mar 18, 2010 10:10 PM

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Thanks for all the good advice. I plan to close my account with Bank of America this weekend. I've been reading through these forums as much as I can but I'm still unclear on one thing: How do I continue to pay off the others? And do I send OneClickCash the email that states I am prohibiting them from debiting my account?

answered Mar 19, 2010 10:32 PM

Anonymous
0


Quote:

Originally Posted by Anonymous;669526
Thanks for all the good advice. I plan to close my account with Bank of America this weekend. I've been reading through these forums as much as I can but I'm still unclear on one thing: How do I continue to pay off the others? And do I send OneClickCash the email that states I am prohibiting them from debiting my account?

You will need to contact them and request an address to send payments, I would send payments in the form of a money order, do not allow them to have access to your new bank account. Oneclickcash isn't even located in the U.S., they will try to tell you that you signed a contract and are governed by their law but they are full of crap, tell them your state law prevails and if they want payments they should provide you with a physical address, tell them no address means no payments.

answered Mar 20, 2010 09:25 AM

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Since I've paid OneClickCash $470 on a $350 loan, I feel like the principle and interest has been satisfied. Should I continue to send them payments?

answered Mar 20, 2010 12:06 PM

Anonymous
0


Quote:

Originally Posted by Anonymous;669663
Since I've paid OneClickCash $470 on a $350 loan, I feel like the principle and interest has been satisfied. Should I continue to send them payments?

No way. They owe you $120.00!

answered Mar 20, 2010 12:29 PM

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OK, thanks so much for all the quick responses! Just want to make sure I have the steps right:

Step 1: Close out my B of A account. If they won't close it out, request that it be placed on deposit only status and that no ACH's are allowed through AT ALL.

Step 2: Contact OneClickCash with the C & D letter and tailor it to say I want a PIF statement.

Step 3: Send all the others PDL's I currently have outstanding a letter (different one than OCC?), telling them that I would like to continue to make payments, but will need a physical address to send the money orders to.

Step 4: File a complaint with the BBB and FTC (?) and Arizona Attorney Generals office. Does it matter that PDL's are not illegal in AZ?

Again, thanks for all the assistance!

answered Mar 21, 2010 11:22 AM

Anonymous
1 

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