They found my new account number!!!!

I am not sure if this is legal but someone will be along soon to help you. They have helped me greatly with my problems. Have a good day

thanks

Hello guest, when you made this first payment to the store front you arranged payments with, how did you pay them? Check, money order, cash?

I am thinking the only way they could have gotten this information was if you had given it out to them by perhaps paying by check..? Did they ask you if you had a new account?

Your new bank probably pulled a chexsystems report, which will show as an inquiry. the pay day lender (storefront or internet) can pull a checxystems report and see which banks have made any inquries recently. You agreement with the pay day lender probably gave them the right to debit the account you used to get the loan as well as any future accounts...this is typical. All they have to do is contact your new bank that they found through checxsystems and let them know that they have authorization to debit the account.

Is there any way that I can get my bank to stop future transactions. When I paid them, I paid them by cash, but I have the receipt

You will have to revoke ACH authorization with the pay day lender directly.

Guest, can't you dispute this with your bank?

I did dispute it with my bank. I explained to the bank that I did not give the PDL this account number. They made me pay $29 for a one-time ach stop payment.

its apparent that this pay day lender had authorization to debit your account and unless you can prove otherwise to the bank they can authorize the debit. contact the pay day lender and revoked authorization.

If I call them and revoke authorization, they cannot debit my account any more? Can I call them and tell them this, or do I need to do it by mail?

in writing would be best.

thanks

How can they debit her other account? Isn't against the law for the bank to let the pdl do that if the pdl called and said they had permission to do so. I thought they could only debit from the account that you gave them in your loan documents. This seems fishy to me.

That is what I was thinking. I never gave them this account information. I have no idea how they got my new bank and accouont information.

If you have recently applied for another loan with a payday loan company, that may have been how, these pdl's share information.

if the payday lender contract gives permission to debit any account, then no, this is not illegal. 99% of payday lender contracts have this clause.


and as mentioned earlier, checksystems is a good giveaway leading the pay day lender to where you might have a new account.

My advice to the Guest is to write a letter to the payday lender revoking authorization for any account that they have now or in the future. I had a company try to debt a second account that was not even listed on my application.

That's very scary knowing that they can legally debit an account you didn't give them the information for. So basically it seems if you get a PDL you're not even safe from them even if you close your account and change banks & account numbers. It's just not right they can do that to people.


Johnita

Usually when you take out a loan you sign the contract. The small print says that you do give your permission to debit any accounts you have now or will have in the future, You did give them permission to do this if they find your new account.

they can not debit an account you did not give them info....that is FRAUD and against the law. File fraud charges against them and your bank should get fined.

My bet is the person got another PDL online and the info was shared. Not a smart move!

You gave them permission to debit any account you have or will have in the future. They can and will dsebit if they find you.

jon1972-It is not against the law....and if the PDL shows the bank a contract giving permission to debit ANY account EVER, then no the bank should not also be fined.

The poster of this thread just needs to tell the PDL to stop debiting....this can be done in writing by revoking ACH rights to that account and any account ever.

Guest, I want you to know that I wrote a letter revoking a payday lender to debit any accout have have now or in the future for this very reason. On Monday, go to your bank with your letter in hand to revoke authorization to this account or any other account. Good Luck.

Thank you all for all of your help. By the way...this is not an internet loan, it is a store-front loan. I have never had any PDLs from this account

BOY...PDL's can be sneaky!! That happened to me once. A PDL took money from an account I NEVER gave them. And I got the PDL off the Net. I suppose they 'search' for any OTHER accounts you may have..i don't know for sure, though. But, a 'store front' PDL? How WOULD they know another account number you may have? You WOULD have to have given it to them..some way.

Do they always check chexsystems when you open a bank account? I had gone to another bank and got a new account. I did have one already with the new bank but did not use that one as it was opened when I was 16 with my mother's name attached. I have had it for over 16 years now. Anyway how do we find information out about out chexsytems report?

Just FYI, a Universal Authorization is illegal. In fact, it's illegal to even debit the same account for either the wrong date or wrong amount. You guys are giving out some seriously wrong advice. I can write in a contract that I can knock you over the head whenever I feel like it...that doesn't make it legal. Jon 1972 is right.
Regarding pdls talking to each other, they hate each other. They are competing for your money. Why, when they know you have limited funds, make their own collections more difficult? I'm not trying to be mean, but some of the theories you pass as truth are just absurd. They get your account info by calling the bank with your ss# since they have your information already. That's why you switch banks, not just accounts. Sometimes they'll run reports looking for new account openings. Other times, you apply to a lead generation company that sells them your information. They do not call each other up and say "Hey man...got new accounts to debit for xxx?".

Regarding the EFTA and Universal Debit Agreements..

???? 907. Preauthorized transfers

(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.

Regulation E
Section 205.10 Preauthorized transfers
Requires financial institutions to provide the consumer with some form of notice that electronic transfers that recur at substantially regular intervals, such as the direct deposit of salaries or benefits and the preauthorized payment of bills, occurred as scheduled.

These are just the ones that require notice. Pretty much every pdl violates this...just in case you ever needed different angles

Quote:

You're right on there, Shazz. I'm just getting rid of the myth that these guys talk to each other. Sorry to come off testy. People need to keep in mind just how much someone can do with a phone call having ALL of your personal info.

No problem, be nice to me!! lol :D

I will..no harm meant. You're still the best!

Oh Shazz. . .isn't everyone nice to you?

Oh sure they are, I was just trying to lighten up a little. :D

Honestly, I thought I was picking on someone else. Sometimes this whole forum thing still gets me. I try to keep my hostility to when I'm a "guest" and someone really deserves it. Sorry...just being honest

Well James, as I always say, when someone is picking on me, they are giving someone else a rest! And Shazzers, I was just teasing. It feels good to do something fun on here once in a while. With all the seriousness of the situation sometimes we need to just kick back!

Thank you James! I would fight them tooth and nail and get someone charged with fraud and sue the heck out of someone.... :)

James, don't worry about it, I wasn't offended. Just sayin'. :)

Here's the NACHA interpretation proving that it is absolutely illegal.


SUBSECTION 2.12.2 Source Documents

For a POP entry, a check or sharedraft provided by the Receiver at the point-of-purchase must be used by the Originator as a source document for the Receiver????????s routing number, account number, and check serial number. The source document must be voided by the Originator and returned to the Receiver at the point-of-purchase. Only a check or sharedraft that (1) contains a pre-printed serial number, (2) does not contain an Auxiliary On-Us Field in the MICR line, and (3) is in an amount of $25,000 or less may be used as a source document for a POP transaction.

What this says, simply, is that an ACH Contract must specify a routing number and account number. There are serious penalties for violating these. Can be found on the NACHA site.

I agree with this. If you do default with a PDL, they can try and 'catch' it by giving you another 'opportunity' to sign up with a ANOTHER PDL ad, on the Web ( of course, it's the SAME one, but you don't know it at the time). When you 'successfully' sign up, with the OTHER one, that's where they 'got ya.' A scary system....isn't it? Even if you change banks, NOT just accounts ( at the SAME bank) a PDL company can find out.

james-this has happened to some of our very own members here....new accounts debited.

If its illegal, then why are the banks honoring them?


Quote:

James, we all yry to be nice to each other here. If you feel that "some one deserves it" who gave you the right to decide that. Also if you have a beef with someone pm them or better keep it to your self. If you have good info shrae if you want to start trouble stay away.

Thanks for the information. I was sharing with the guest what happen to me when I had my letter in hand revoking any debits from my account from a payday lender.

I received a refund in my new checking account from Cashnet USA. They stated I was due a refund of interest, however, they were going to deduct it from the amount I still owe them. Today, I checked my account with the bank and there were 3 small deposits totaling $50. I did not give them my new information. I called the bank, they said the ACH department probably received the deposits and didnt know where to put them as the original account was closed. They are checking into it. I checked the website for Cashnet USA. They do not have my new information in my profile. I am worried now that they will start taking money from my new account. The bank said that is not legal, but I may have to put a Hard Hold on my new account, as they could try and it would tie up my money. Any suggestions? I had 3 accounts with the bank. I closed the main account, and kept the other two open so I could get my paycheck. My employer requires direct deposit and I also have some legal debts that have to be a direct debit.

I just received a phone call from my bank. They state that the refunds came through and rejected off my old account. They chose to put the money in my new one. They do not release any new account information to the company. Just in case any body else runs into this! They can not debit the new account as they do not have an authorization to do so, and they can not get the information from the bank as that would be a breach of security.

Please be careful. when you take out these loans very often in the contract there is a clause that gives them permission to debit any account you have now or will have in the future.

My bank informed me that it is illegal for any company to debit an account that has not been disignated on the loan. In other words, if a PDL debits a new checking account with out a written authorization it is condsidered fraud and can be disputed. They are not legally allowed to debit an account with out an authorization strictly for that account. I have heard this elsewhere also.

I believe that is the case as well...when I was talking to Christy at intercept...I told her I was afraid they could come after me if I had a new account..and she said only if I give them the account information. If they did do a debit...it would be illegal.

If you gave them permission in the contract they can do it, and trust me they will.