How do I stop electroic debits from my bank account??

Oh my gosh jeoestreich, $29.00 per transaction, that's outrageous, but there is a better way. First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet (although I am assuming they are all Internet since they're making withdrawals)?
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it! :)

I am in Wisconsin and they are all Internet loans
CashNetUSA-I borrowed $300 have not paid anything towards the balanced but paid 150 in fee
CashTransferCenter-borrowed $400 paid nothing back
Little Loan Shop borrowed 300 and paid 90
Advance Discount-borrowed 400 paid back nothing

OK, first of all, here are your state laws.

Wisconsin State Information

Legal Status: Legal

Citation:
Wis. Stat. ???? 138.09

Loan Terms:
Maximum Loan Amount: Not Specified
Loan Term: Not Specified
Maximum Finance Rate and Fees: No Limit
Finance Charge for 14-day $100 loan: No Limit
apr for 14-day $100 loan: No Limit

Debt Limits:
Maximum Number of Outstanding Loans at One Time: No Limit
Rollovers Permitted: Not Specified
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $15 NSF fee if check returned due to no account open at bank, insufficient funds or insufficient credit. Check presentment limit: two times.
Criminal Action: Prohibited (per Wisconsin worthless check law, a check given to secure a loan isn't "worthless")

Where to Complain, Get Information:
Regulator: Wisconsin Department of Financial Institutions
Address: Wisconsin Consumer Act Section, P.O. Box 8041 Madison WI 53708
Phone: (608) 261-9555
Fax: (608) 261-7200
Regulatory Contact: Paul Egide,, Consumer Act Director
Regulator Website


It is not an option for me to close my account. What is a hard debit block?

This will block all debits of any kind (even yours). Your deposit will still go in but the pdls will not be able to debit your account.

Is there anyother way that I could get it to stop because all of my bill are electronically debited from my account? Grrr.. I am so fustrated right now. I have already contacted Oak View Law Group and I am working with them.

This is all so confusing. I just want to get my life back. Grrrr....

joe, in order to prevent these pdls from debiting your account, you will either have to close it or put a hard debit block on it - period. You can not block these pdls. They will change names, dates, amounts, send through electronic checks, whatever they can possibly do to access money from your account. As long as your account is open/active with no block whatsoever on it, they will debit the hell out of it. You can revoke their debit authorization in writing; however, they do NOT pay attention to it. They will continue to debit as long as the account is accessible.

Do you know if a hard debit block will cost anything to do?

No, it costs nothing. However, with a hard debit block, nothing will go through. Not even your checks, ATM card, etc. Nothing. You're going to have to open a new bank account somewhere so that you will have a "working" account. This way you can still go about your business, have your direct deposit put in, have your automatic bills taken out, etc. The account with the hard debit block can remain that way and credits can go in, but NO debits will come out. You'll have to switch everything over to your new "working" account.

Cool! Do you reccomend open an account at the same bank or a different bank?

I am going to put a hard debit block on my account next week and opening a new one. After this is done do I need to send a letter to them to tell them not to contact me or does Oak View Law Group does that? I talk to them eariler in the day but I cannot remember.

Actually, we do advise going to a completely different bank. We just feel as though it's "safer" that way to prevent the pdls from "finding" your new account. However, we have members who have opened new accounts with the same bank. If you do decide to do this, just get the assurance from your branch manager that the two accounts will not be "linked" in any way. In other words, anything that tries to hit your blocked account will not affect your new account. If at all possible, get something in writing stating this. We don't want them going to your new account to take up the slack from the blocked account. Okay?

If you are working with Oak View Law Group, let them handle everything. You are paying them. Let them earn their money. If you get any correspondence from plds, forward it on to Oak View. If you get any calls from plds, direct them to Oak View & give them their phone number. You are paying them to do your "dirty work" for you so that you don't have to put up with the harrassment from the pdls. So, actually, I would leave it up to them. When "doing it on your own", we do send letters. However, when using a company to do the job for you, let them do it. That's why you're paying them. :wink:

I actually changed my mine using Oak View Law Group. I only have four loans. Do you think I could do it on my own?

You can do it on your own if you're up for it. I do know that CashNetUSA is going to be licensed, so you'll have to pay them what they say you owe. Cash Transfer Center is COMPLETELY illegal. They will pull a wage assignment on you. We can work on getting that taken care of. Little Loan Shoppe is licensed in the state of Utah. I need more information on Advance Discount. Do you have an address or phone number? Or any loan documents stating what state law "governs" the loan? If so, can you provide me with that. I'm not familiar with Advance Discount. I can look it up. In the meantime, I'm going to check something regarding Wisconsin state pdl law real quick.

Crap. I'm going to have to pm one of our members regarding Wisconsin internet lending. I believe (but I could be mistaken), that Wisconsin will 'allow' internet lenders as long as they are licensed SOMEWHERE. Let me send a pm and I can let you know for sure, joe.

(800-446-8482)
This is the number from their website.

In an email I recieve from them it states that their debits would be marked as CPD/Credit Protection Depot

Hmmm.... nothing coming up on the BBB website for that phone number. I can do a google search for it right now.

However, I did remember (brain kicked in here!) that Wisconsin WILL "allow" internet lenders as long as they are licensed SOMEWHERE.

So CashNetUSA will be licensed and The Loan Shop will be licensed. Cash Transfer Centers will not be licensed.

Let me see if I can find anything on your last pdl.

Discount Advances
Address: 1129 Vassar Dr NE
Albuquerque, NM 87106
Primary Phone: (505) 224-9817
Primary Fax: (866) 645-1662

I am not showing them as licensed.

Ok paying those back will be no problem as long as they are willing to work with me.

You've got two licensed ones and two illegal ones. Can you do me a favor? You listed out the names of your pdls; however, can you tell me how much you borrowed (principle amount only) and how much you have paid back total so far to date? We can see where you stand with these people.

CashNetUsa-borrowed $300 paid $75
Little Loan Shop- Borrowed $300 paid $90
Discount Advance-Borrowed $300 paid $0
CashTransferCenter-Borrowed $400 paid $0

Okay, your CashTransferCenter is illegal. You will morally owe them $400.00 - period. Legally, they can not do anything to you except attempt to send a wage assignment to your employer. Of which they will do. They nabbed my a$$. We can get around this though, so don't worry about it just yet.

Discount Advances is illegal. Morally, you will owe them $300.00. Legally, they can't do squat to you except harrass the living crap out of you.

I'm going to have to look at the laws regarding CashNetUSA and Little Loan Shoppe for the states they are licensed in to see what they are allowed to charge you.

For right this moment, you need to first get your bank account taken care of, okay? Go to the branch where you opened your account. Speak only to the branch manager. Not customer service, not a teller, just the branch manager. You need a hard debit block on this account. Do not leave that bank until you have a hard debit block on that account. Open another account (where ever you wish) so that you will have a "working" bank account. Re-route all your stuff to the new account (direct deposit, auto bill pay, etc). joe, do this first. Do it as soon as you can. Once we know that your bank account is safe from being debited any further, we are going to work on contacting the illegal companies and also the legal ones. You'll have to work out arrangments with the legal ones regarding an alternative payment method other than bank debits. The illegal ones, we can handle those as soon as we know your bank account is safe. Are you up for all this, joe?

Up I am. I am leaving work now so I will not have access to the internet until tomorrow. Thank you

joe, then we're on, my friend! We'll help you every step of the way. Go to the bank, get the account taken care of. Once your account is safe from debits, we will then move on to the next step of sending letters and contacting legal pdls. I'm glad you're going to stick around and get this nightmare over with! Let us know when your account is squared away, and we'll move on to step number two! :D

Before you close your bank account due to payday loans eating away at your paycheck, please read this.

Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.

If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.

It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.

Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!

I am just waiting for some checks to clear! Hopefully they will clear before next Friday. Which is when I get paid next.

joe, when are your pdls scheduled to hit your account again? Before your next payday? Or on your next payday?

On my payday (friday)

Friday, TODAY, or next Friday? I'm only asking because I know they'll hit you again if it's Friday TODAY. I just hate it when people get those fees sucked out again. However, if it's NEXT Friday, you should be able to get the account straightened out with the bank so they can't hit.

I hope you meant next Friday, too - a couple of weeks ago, I got stuck paying again :(

only 4 loans , yes you can do it on your own. List the state you live in , your lenders, how much borrowed, how much paid back, are your loans store front or internet?As soon as we get this info, we can begin to help you.

All of joe's information is on this thread.

duh, I must have has a senior moment. never looked on the other pages

LOL! :lol: You're cracking me up!

Sorry, I do not have internet access at home. But it is this coming Friday that they are taking them payments out.

Hello Family,
:D

When I closed my account and open up a new account I made sure that the accounts were not linked together and I would not be charged for any ACH drafts posted to the old account. You might want to talk to different people or go to the top. Also make sure that you send letters to the payday lenders letting them know that you are revoking your authorization for this account and any account that you have in the future.

*Cannr,
How was that advice? :wink:

wssu, you crack me up!

joe, have all your checks cleared? Is your account to the point to where you can put that hard debit block on it now? You want to have that block on there before they hit your account again.

Still waiting on two checks that I wrote over a week ago. Hopefully they come in today or tomorrow.

I hate to hitchhike on this thread but where are the ach revocation/no wage garnishment/do not contact refs, etc sample letters? I found one earlier that addressed all majored points, but now I can't
find it! I looked in sample letters but didn't see anything...help...please? sky

When I was having MY share of trouble with PDL's, I FINALLY had to close my account. I opened a new one, at the same bank. Wouldn't ya know it.........a few of these PDL's 'found' my account ( I don't know how) and took money out. I had the same Routing Number ( since it was at the same bank) but, NOT the same Account number. Well......despite of all of this, my bank was WONDERFUL in handling the issue. How do PDL's 'find' a new account? Any advice?

I fear the same thing happening, even tho' the bank said 'no way'. I'm sorry, the pdl have ss#..I think that would open the door. Plus there are programs that will run numbers/letters until it hits on a password...so maybe a program that will hit on an acct number.

Grrrr...I am starting to really hate money. I have a lien on my car from Citifinancial and the timing belt broke on it and ruin the engine. Well, I talk to them and they said I either have to pay it back in full or transfer the lien to another car which I do not have. I want to sell the car to my uncle but have to pay the lien off before I can transfer the title.

***I know this is a payday thread but I was wondering if someone out there could have a possible solution or know who else I could talk too. I guess it is true when people say when it rains it pours.

joe, go back to the first page where it lists out all the "forums". Go to - Dealing with Creditors and collection agencies forum. Just start a new topic and post about your situation with Citibank and the lein on your car. Ask them what you can do or what options you have. There are great people on that forum with a lot of knowledge. Go ahead and start a thread over there regarding that particular situation, okay? You'll get help. :D And, let us know when your two checks finally clear your bank account. I'm hoping it's VERY soon.

I am hoping so soon. One has cleared but one still has not.

Well, I talk to them and they said I either have to pay it back in full or transfer the lien to another car which I do not have. I want to sell the car to my uncle but have to pay the lien off before I can transfer the title.


joe-are you going to be selling the car to your Uncle for enough to pay off the lien? If so, can your uncle give you the money first, you go pay Citi, they release the lien then you formally transfer title to your Uncle?

I forgot that I also have a pdl with usfastcash. Can someone tell me if they are legal or illegal in my state.
I have a $300 loan with them and I have already paid them $490.

I also still waiting for that check to clear. Grrrr... I wrote it last tuesday; over a week ago.

Call Intercept EFT on UFC. They are their processor. Talk with Cindy. According to my bank, they also us Bremer Bank as their originator. Hope this helps some.