Payday Loans

Some PDL's will call your references and call your work number.

You can send them a cease and desist letter and some will comply, some will not.

Called the bank (Compass). . . they said I cannot close my account til one transaction clears BUT ACH debits WILL force open the account.... so WHAT do I do now??? I told her that I had fraudulent transactions hittimg my account so I needed to block that and she said I had to file a claim with the fraud department to get any fraudulent charges reversed. . . ARGHHHHHH

Tell them that you need a hard debit block put on the account. It is your right to revoke any ach transactions.

I called back. . . they said I cannot do that while I have pending transactions. . . so I have to wait until the one pending item clears. Will there be enough time you think?

ut, you only have one pending debit at the moment, corrct? You're not due to be hit by the pdls until Tuesday, correct? If that pending debit posts tonight (check first thing in the morning), go straight to that bank and put a hard debit block on that account. If it doesn't post tonight & waits until tomorrow, hopefully your bank has Saturday hours (?). Go as soon as you possibly can once that one debit posts. Put a hard debit block on it. If we can get that block put on Friday or Saturday, you should be blocked from the debits on Tuesday.

Cannr, thanks for your help. . . just looked at calendar -the 21st is Monday!!! That is when they hit! So do I need to change my tune about why I need to "freeze" the account because they werent liking the ACH fradulent activity. . . I know I did this once before when my purse was stolen and it was NO PROBLEM!!!

ut, if you need to claim "identity theft", then by God, do it! You need this done ASAP if they are scheduled to hit Monday. That means they'll be pending BEFORE Monday. Get to the bank. Do whatever you have to to get that blocked/closed!

Ok, the bank says that I can't do anything to my account until there are NO pending transactions. . . . so if the one pending transactions does not clear tonight, it will be monday morning before I can do this and I will have been hit hard by then. . . Has anyone worked out arrangement with the CSO's that I have. . . will they let me call and make arrangements without hitting me in my bank account??? Someone let me know (since they are legal will they work with you?)

ut, if you need to claim "identity theft", then by God, do it! You need this done ASAP if they are scheduled to hit Monday. That means they'll be pending BEFORE Monday. Get to the bank. Do whatever you have to to get that blocked/closed!

isn't that fraud saying they didn't have auth to do the trans? :shock:

I am sorry about the loss of your job.(Mr. Jenkins, look out this could happen to you too :cry: :cry: ) I agree with the other people you need to go to your bank and see if they will let you revoke your authorization for ACH transactions to your account. Then for the legal payday lenders only in your state, let them know about your situation and see if they will work out a payment plan. For the illegal payday lenders, contact your state and their state Attorney General office and the BBB. Good luck and God Bless.

Nick, what?????

Quote:

Ok, help!!! I wasnt able to close the account because of the "pending transaction" so I got hit again!!!! Now, I contact the bank to put a hard debit block on the account and they say I cannot do that because I dont have any "unauthorized transactions". . . I am NOT a victim of fraud because I did actually do business with these guys. NOW WHAT?

you have the right to revoke any ach transactions. I wil; post something to bring to your bank.

This should help.
Per the Electronic Funds Transfer Act:

Quote:
???? 205.10 Preauthorized transfers.

(a) Preauthorized transfers to consumer's account--(1) Notice by financial institution. When a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by:
(i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or
(ii) Negative notice. Providing oral or written notice, within two business days after the date on which the transfer was scheduled to occur, that the transfer did not occur; or
(iii) Readily-available telephone line. Providing a readily available telephone line that the consumer may call to determine whether the transfer occurred and disclosing the telephone number on the initial disclosure of account terms and on each periodic statement.
{{10-30-98 p.7369}}
(2) Notice by payor. A financial institution need not provide notice of a transfer if the payor gives the consumer positive notice that the transfer has been initiated.
(3) Crediting. A financial institution that receives a preauthorized transfer of the type described in paragraph (a)(1) of this section shall credit the amount of the transfer as of the date the funds for the transfer are received.
(b) Written authorization for preauthorized transfers from consumer's account. Preauthorized electronic fund transfers from a consumer's account may be authorized only by a writing signed or similarly authenticated by the consumer. The person that obtains the authorization shall provide a copy to the consumer.
(c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.
(2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation.
(d) Notice of transfers varying in amount--(1) Notice. When a preauthorized electronic fund transfer from the consumer's accounts will vary in amount from the previous transfer under the same authorization or from the preauthorized amount, the designated payee or the financial institution shall send the consumer written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer.
(2) Range. The designated payee or the institution shall inform the consumer of the right to receive notice of all varying transfers, but may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts or only when a transfer differs from the most recent transfer by more than an agreed-upon amount.
(e) Compulsory use--(1) Credit. No financial institution or other person may condition an extension of credit to a consumer on the consumer's repayment by preauthorized electronic fund transfers, except for credit extended under an overdraft credit plan or extended to maintain a specified minimum balance in the consumer's account.
(2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit.

[Codified to 12 C.F.R. ???? 205.10]

[Section 205.10 added at 44 Fed. Reg. 59471, October 15, 1979; amended at 45 Fed. Reg. 8265, February 6, 1980, effective May 10, 1980; 61 Fed. Reg. 19672, May 2, 1996]

Kashzan, is this different than stop payments? I guess I am a bit confused about how this helps me. Am I revoking ALL ACH authorizations by using this?

You can revoke the ones that you chose to revoke. Ach are voluntary.

Right, but as far as talking to bank manager. . . am I telling her that I am revoking ALL ACH transactions?

iF you want to revoke all , then yes. I have some ach coming out every month for other bills that I would not want to revoke. Its up to you. If all you ach are pdls then get them all revoked.

Thanks Kashzan, I know I am sounding stupid. . . but I want to be confident when I speak to bank again. Am I revoking them with the bank or am I revoking them through the PDL's?

Dont tell any of the pdls anything. They will swoop in and take everything yu have.

No, I don't mean as far as telling the PDL's. . . I mean what am I telling the bank.

they are not being very helpful. . . they act like I am trying to deceive someone and want to try to stop me. I want to be fully armed with knowledge when it comes to speaking with a bank manager again so that I can sound confident and not willing to back down. Please help me with what I should say to them.

ut, are you trying to get a hard debit block on your account? Or what exactly are you trying to do at the bank? A block? Total block? What's going on so far?

Yes, a block. . . they say that if I close the account ACH debits WILL open it back up. . . so I said I want a hard debit block and they said WHY? I said I have unauthorized ACH debits that I want to block EVERYTHING and they said if I have unauthorized debits I should file a report with the fraud department.. . NOT put a block. So I am not sure how to explain to them what I am wanting to do. They say I cannot just block ACH debits whenever I want to stop paying companies I am doing business with!!!!@@@@@

It is your right to revoke any ach debits. That is why I posted the laws to bring to your bank

spoke with them again. . . having much difficulty getting them to comply. . . sooo frustrating. Cannr, thanks so much for your pm. . . waiting to hear back.

UPDATE: spoke with manager. . . put deposit only freeze on today~!!!!!!! she totally understood, whew, how refreshing to get a person that can actually think "out of the box"!!!!

HAPPY DANCE!!!!!!!!!!!!!!! :D

so, next step? Prepare my letters?

Yes. Your bank account is now safe. Do you need a letter to use as a guide?

Thanks, Cannr. . . you sent me one already!!!!

Should I wait until I actually default to send these letters? I am still about a week away from that. And from other posts I have read it sounds like it takes these places awhile to even realize it.

ut, answered your pm regarding this! :wink:

Okay, got a PIF today!!!!

Got another e-mail saying they could NOT work with me unless I called and spoke with their collections dept (yeah, that aint gonna happen). . . and another that I have paid four-fold saying they will work with me!!! (that aint gonna happen either).

ut, who was your pif from? :D

Also, who is saying they won't work with you unless you call? Which, of course, don't call! :lol: Just email the living hell out of them. It'll kick in their heads soon that that's the only way you're going to deal with them.

Yep phone only works for mean a-holes like me.I actually enjoy the few times I have had to do it. :lol: :lol:

cajun, I am soooo glad your back! :D

fsm/cmg/osl marked me PIF even tho they felt they were perfectly legal and had done nothing wrong. Cash4U2day said I had to deal over the phone ONLY. and CashAdvanceNow said they would take payments to pay off my loan (which I have been doing FOREVER already)!!!

does anyone know a e-mail address or fax number for: authorizedpayday?

Authorized Payday
369 E 900 S # 324
Salt Lake City, UT 84111

got a call this morning from GFS. . . they want NEW checking account info and IF I WANT to understand the LEGALITY of my loan I should call and speak with one of their customer service reps HAHA. . . this is so funny. . . shooting another e-mail to them now.

ut, you know you can pretty much tell them to "go blow", right? They are SO unreasonable, it's not even worth your moral values to deal with them. :twisted:

Cannr, yeah I know, I am only obligated to pay the ones that I still owe principal to. . . not the ones that have been way overpaid like GFS. But, its like they are not even listening. HOwever, I GOT another PIF today so some of them are!

Great job, ut! GFS can basically "bite you". :lol:

received e-mail from cash4u2day. . . they stated they would honor my requests for ach revocation and no contact by telephone but would have to speak with me on the telephone (I should call them) to make some type of settlement. I told them to mark it pif and we are done.

Okay guys, it has been one week now. . . with the exception of just a couple of voice mails I havent really received much response to my returned payments. Got a couple of e-mails stating that I have to pay my balance in full or been turned over to a collection agency. DID get 2 pif's!!!! Not nearly as much response as I expected after reading thru this forum for a few weeks prior to actually closing my account!@! Have I just been lucky so far? Or is this gonna be easier than I anticipated?

I know ya'll are helping ALOT of people, but a little insight would be much appreciated.

Does anyone have an address for Sonic Payday or E-Care? They will NOT give me an address and they will not give me an e-mail address. Can anyone help?

Sonic Cash
: 7219 Potomac Drive
: Boise, ID 83704
: 1-866-574-CASH