ACH problems

You need to carefully view the contract you had with this lendor. If you sent over the joint account number online, then this is the one they have the right to use. Unless you received confirmation via email that they took out that account number, and gave them the new one.

Technically they have autorization for both. There's not much fighting you can do, especially since you said you owe on it.

Also, when you said you have been with them for 2 years, are these renewals your paying off? How much do you owe? Chances you have paid enough in interest if this is just a renewal, and you can be done with the loan. What state are you in?

Please keep us informed.

Regards
Mike

Regards
Mike

I did the banking information change via email but received a verbal confirmation from them over the phone. I've only used my joint account once and been using the joint account since then (for all loan transactions).
I am from Las Vegas and this loan is for $350. It's like a new loan cause after 4times of refinancing I have to pay it off and reloan again. So I don't how it really works. Same thing goes for my other pdl.
Will I get into trouble for putting a stop on their ACH. I already told them that I am with a debt consolidation but they're still debiting my account.

And also, my brother in law has a delinquent account with them and they debited his loan from my account. For that one, I was able to dispute from them but it took me a lot of paper works, phone calls and days (1 week) before they returned my money. (My bank is useless, they don't know nothing or I'm just talking to the wrong people.)
The sad part is after telling them that I am with a Consolidation Company, my online lender seems like they don't want to help me on anything anymore. Well, I can't really blame them cause I owe them money.

ummm if, after 4 payment you have to pay it off. Why do you keep getting new loans?? If you HAVE to pay off after 4 times, then your paid off. Done. Is there something that I'm missing?? This is the type of STL I'm used to dealing with..(borrow $500, make 3 three payment os $177, and the fourth payment is $677 and the loan is done). Please clarify , otherwise I have to ask why do you keep taking loans with these people if you know they are messing around? The first step in breaking the PDL/STL cycle is DON'T TAKE THEM IN THE FIRST PLACE.

I agree with what LCW just told you. If you keep renewing the loan then how can it be in consolidation. Stop renewing the loan and pay it off and stay away from payday loans completely.

I just went into consolidation. I have all these loans for quite some time. Because I need the money I can't afford to pay it really off. I don't know how to properly word it but paying it off and then realoaning is just a matter of paper works and to show that they abiding the States law that we only have 60 days.
After paying the principal and interest in full they will give you back the principal and you have another 60 days to refinance or pay it off.In short, I only have 60 days and it's up to me if I want to reloan the money or not.
This lender were easy to deal with BEFORE but when I told them that I went into consolidation/debt management they did not give me time to extend anymore but debit my account for the full amount and interest on a different bank account
If you're in need it will be so hard to stay away from pdl. I'm just starting to get back on my feet. If I don't default on my pdl that means losing my house and everything else.
I hope I make sense.

so every time it comes up to "Pay Off" they are writting you a new loan for the amount of the old loan + finance charges as the pricipal of the new loan??

For example you take a $300 loan, pay $75.00 in interest (finance charges) three times, when the fourth payment comes due they roll that in to a new $375 loan and make three interest payments on that one?

Thats an even more dangerous game than regular PDL's. Are these people working with the consolidator at all or are you too new in the program to know yet?

As for the ACH problems, you can bet they keep a list of every account number you ever give them to debit from , and once you default they will try all of them till one of them yields them a payment.

AS the little collections statement ( many collectors call a mini miranda, laughable) states, "any information obtained will be used to collect the debt".

LCW, 98% of the pdl companies here in Las Vegas are doing that, if you don't have the money and can only afford to pay the interest you'd pay 3x on inerest & roll it ont he 4th time. 2% is you have to pay all & roll it.
Regarding ACH, can they sue me if I try to block their ACH?