Can i change my debit amount?

Date: Mon, 01/28/2008 - 07:00

Submitted by anonymous
on Mon, 01/28/2008 - 07:00

Posts: 202330 Credits: [Donate]

Total Replies: 5

I have a debt that i was paying on. They are debting my account. I just recently had some irs issues. You know lein/levy. I had to increase my payment with them. So now i can no longer meet the full amount of the collection agency. I called them and told them not to try and debit my account because it would not be there due to irs issues. They asked when would i have it i said maybe in 2 weeks they said they need it this week. I told them i would see what i could do. Can i send them an letter telling them due to money issues i can no longer send them the 50.00 but i can send 25.00.

You can revoke their priveledge of debting your account if you d

You can revoke their priveledge of debting your account if you do it by sending a certified letter. That does not mean they will stop. You may have to close your checking account. Wait for the advice of others here.

lrhall41

Submitted by Frogpatch on Mon, 01/28/2008 - 07:13

( Posts: 5381 | Credits: )

Stop ACH

I missed this post.

Yes, do send them a letter. I would try faxing it to them to make sure they get it before the due date, and hold onto the fax receipt. I hate to be pessimistic; however, I'd be willing to bet the farm they will still attempt to debit your account.

You can also go to your bank and place a stop payment on the ACH. This might not work, as they will probably change the company code on the ACH and still try debiting and causing a NSF/Overdraft. If they do try, you can always file and "Affidavit of Unauthorized ACH" with your bank providing them a copy of the letter you sent the CA along with the proof of receipt. One of the questions the affidavit asks you, is when and how you notified the CA not to debit your account.

FrogPatch is right, though. The only sure fire way of stopping them debiting your account is to close the account and open a new one. Sucks to do, and pretty inconvenient. I would like to think the letter requesting them to stop would be enough, but I wouldn't count on it.

It has been a while since I worked in banking, but these are the procedures I remember. If anyone else has any more recent information to advise or correct me on, please do.

lrhall41

Submitted by FloridaRon on Tue, 01/29/2008 - 16:11

( Posts: 1190 | Credits: )

CAN I CHANGE MY DEBIT AMOUNT

Thanks for your reply. I sent them a letter revoking there authorization by fed ex. They got it yesterday. I told them that if they try to it will go nsf cause i moved what ever money i had in there. And they should be responsible for any nsf fees if any. I checked with my credit union and they said i can change my account and it will take from 24 hr to 48 hrs. I still need to know can i change the debit amount? This was an amount we agreed upon on the phone. Right now things are pretty tight. I am taking care of my daughter who has lupus. I have had to take out loans with my credit union to just make it by last year. I thank you guys for this website. I will be needing your help on some debt issues. I just ordered my credit reports so i will have a lot of questions. I appreciate all the questions and answers that are out here.

lrhall41

Submitted by on Wed, 01/30/2008 - 04:32

( Posts: | Credits: )

Debit Amount

The only way the amount can be changed is through the institution debiting your account, in this case the CA.

lrhall41

Submitted by FloridaRon on Wed, 01/30/2008 - 07:31

( Posts: 1190 | Credits: )

Debt Consolidators

I am not happy with my debt consolidators. Can I change my current debt consolidators ?

lrhall41

Submitted by on Thu, 07/02/2009 - 17:27

( Posts: | Credits: )