revoking EFT
Date: Tue, 06/03/2008 - 19:01
He told me my account had just landed on "Edward's" desk just yesterday and "Edward" would be calling me to work out a deal. So sure enough "Edward" called this afternoon, he too was pretty nice. I again explain the situation, he ask me a bunch of questions like what type of DMP plan was it, was it a settlement company or like CCCS, why I was having problems, what my monthly out go was, told me he could try to get me a lower payment/deferrment, then he ask me to hold while he talked to the "loss" department, he gets back on and says, "So if I can get this approved can you make a pmt" I said, not today, my DMP plan will send you a payemnt".
So he goes back and forth with me, telling me that if they send the pmt it will sit in their account for 10 days waiting to clear and that will cause me probelms, blah, blah, blah. He keep saying, "you know what I'm saying?"...."I'm a consumer just like you, I'm not perfect I have bills to pay too" "I understand"...blah, blah, blah....
So I ask him, "can I have this arrangement in writing and he says, "oh yes you will get new loan documents showing this arrangement, but I can't send them to you until we receive the payment....."
So I say (I've been on the phone with him now my entire lunch break), I need to discuss with my husband I'll need to get back with you" So of course he was like, "Ok sure but I need you to call by tomrrow at 3" I said, "ok"...(fat chance)
I came home and told my husband he said, NO NO NO...we are sticking to the plan, they are just trying to get a payment out of you". My husband says, "they will take the payments T & C sends or they will not get their money and I don't care if they only send them $5.00 a month for the rest of our lives...they will get it when the DMP sents it!!!"
I think my husband it right, from what I've read on here they "jerk" people around with these, "lower pmts/deferred plans...
"Edward did say "Oh we will take the pmt from the DMP, but your account will suffer since they won't be sending the correct amount"
WHATEVER!!! Do you all think my husband and I are correct to stand our ground and just let T & C take it from here? I mean, I tried right? Thanks Reny
Sorry this was sooooooo long...
I think personally that you should let T&C handle this for you.
I think personally that you should let T&C handle this for you. Don't let them try to strong arm you into anything that is what they are famous for.:)
This sounds like a uniform commercial code violation. They said
This sounds like a uniform commercial code violation. They said they are going to let the payment sit there for 10 days before they do anything with it. Unless they are referring to processing time for the check to clear the bank.
While Regulation CC (the expedited availability of funds act) does allow financial institutions to place holds on non local items or items of a large amount to verify the availability of funds the Check 21 Act (The Check Clearking for the 21st Century Act) allows financial institutions to send checks electronically to each other by truncating the movement of paper checks by converting them to electronic files.
If they are going to let it sit there to make sure they can acce
If they are going to let it sit there to make sure they can access you late fees, etc. They will be violating your states Uniform Commercial Code and in effect dishonor the contract. What happens when they dishonor the contract? They void it, meaning that your debt is gone.
no kidding??? How can I found out more about this, just in case?
no kidding??? How can I found out more about this, just in case?
Check your state's legislative website and look under your state
Check your state's legislative website and look under your state's Uniform Commercial Code.