Getting out from PDLs - Urgent

First, what bank do you use?

Second, can you provide the pdl's that you have (or at least reference the thread that you posted them).

I have a few suggestions, but if you can answer the questions that would be helpful.

(Problem with your theory, is you run the risk of the bank reporting you to checksystems and then it may be difficult to get another bank account. PLUS, you'll be paying more $ b/c of the overdraft fees, etc.) Not recommended, IMHO.

I have the following:

BIG 200
Cashnet 300
AAA 250
Instant Cash 300

I already opened another checking account somewhere else and have all my deposits going into this new account.

My concern is, I work in a call center, I absolutely am forbidden from getting any outside calls so getting collectors calling 30 times a day is putting my job at risk. I have read the horror stories of getting 20 30 calls a day, multiply that by 4 and thats what I am looking at. Cease and Desist only work as good the people who abide buy them. I have a debt management plan I am getting into place and I plan on putting the bank into the plan. I was paying $614 a month in just interest fees on these and its killing me.

I understand being reported to chex and overdraft fees, however I don't see any option of getting out of this while managing to keep my job. I appreciate the response, I just feel backed into a corner.

Kklblue, I did see your previous post about your idea, but I suspect no one is answering it because no one has tried to do what you are considering, so they don't know what to advise you.

It looks to me like you have outstanding loans of $1050, plus whatever fees would still be charged, even if you do take the option of a full payoff. I know you previously said that you think your bank would pay them all, but have they previously let you overdraw your account by that much?

Have you already researched whether these PDLs are legal in your state? Whether any of them are members of CFSA, and if so, whether they have to offer you the EPP (extended payment plan) if you request it?

I do agree that the illegal ones don't seem to honor CDs, so that probably wouldn't keep them from calling you at work. So, in that respect, you are pretty much backed into a corner. Maybe your plan would work, but you would need to make sure that your new account is at a non-chex bank. Otherwise, I think they may close it once everything hits the fan with your other bank.

Thanks for the response. I appreciate it. I have opened an account with a non Chex bank. Of course this is all a hypothesis, and no proof that it will work, but my bank has yet to ever return anything NSF, the only way to stop anything is to go in an pay a fee, or let it go through and pay a fee. They also if your have a negative balance will let you continue to take out cash.

I am praying this works, and that I can repay the bank fast. I can't pay over 600 in interest and fees each month.

I have learned tons from this website. I only wish I hard found it earlier.

lol my computer froze. Swell!!!!!

I closed my bank account on Sept 1st at Bank of America - I had the following PDLs deducting interest and or fees on the 1st and 2nd of the month. I have received phone calls and emails from these PDLs and have answered them asking for a settlement - one has been nasty and wants $390 on Oct 1st. Some I have not heard from and others I have not heard too much from. In my emails to these PDLs I asked for their mailing address, the state they are licensed in and the interest I am paying. None of them have given me answers to these 3 questions. The 8 PDLs are :
PaydayLoan-Yes Loan $350 paid $820
Paycheck Loan $200 paid $445
Cash Advance / CAN Loan $200 paid $445.
ameriloan Loan $300 paid $360
UCL Loan $300 paid $270
National Cash Loan $300 paid $270
MCN/Credit Protection Loan $400 paid $314
Instant Cash Loan $200 paid 0

If I have another bank account - can they know I have another bank account? and if so? can they make electronic debits from this other bank account - other bank account is not Bank of America. If they can - what is my recourse since I have not authorized debits from this bank?

From what I have learned from this website open an account at a different location. I did. I opened 2 - 1 that reports to Chex system and 1 that doesnt. So if one gets closed I can move my money right away.

My concern is not with the bank I have now closing - I have had the account for years. I am concerned about the pdls attempting to debit their money from this bank ? I have told them nothing about this bank - the one settlement I made on Oct 1st - they asked me if I wanted to pay by bank account, western union or money gram - I told them western union. John A

You need to send them (PDL) a revocation of authority to debit your account. Make sure it says something like, I hereby revoke your authorization to debit my bank account number xxx, or any and all other bank accounts now or in the future.

Should they find this new account and try to debit your account, this letter will be proof to your new bank that these places were not authorized to debit your account. It will make it easier to get the bank to reverse the charges.

You are saying I should only give the last 3 numbers of my bank account? xxx like xxxx986 ?
Thankyou and others for advising me in this situation
John A
ps Do you think these pdls read this website?

yes they do.i am convinced that is where a lot of the trolls come from.you know,the PAY YOUR BILLS people.i even was told over the phone by someone at USFASTCASH that the forum was feeding me misinformation.so yes,a few of the illegal
pdl's are watching this forum.

Oh my gosh yes, several PDL's and Collection Agency's read this website. Every now and then someone will make a comment prasing them pretending like they don't work for them.

No, I am saying refer to the current account that they have authorization to, whether it be by name, account number (last 3 or 4 digits if you want), whatever. THE IMPORTANT thing to have in the letter is the part that says "this account, or any and all other bank accounts now or in the future." This is an absolute statement and means that they do not have any authorization to ever debit/ACH, etc. ANY account(s) you may have or will have.

1st if all - thankyou. Of the 8 pdls that I have - Is it common that I have not heard much from them - maybe the 1st week of Sept - one will only talk settlement on the phone. Is it because I asked all 8 of them for their mailing address, the state they are licensed in and what my intersest rate is? Only one has replied with a mailing address. I had one reply with someting about I had 30 days to reply like what you see in letters from collection agencies. Do you think it is quiet because they have sent these loan balances owed to collection agencies.?

I will get these Revocation of authority to debit to all of them - should I send the one to the one I have the mailing address to in Miami? The others will have to be emails - are they valid sent as emails?

I have not checked to see if these are legal pdls - should I do that and how? Do you know from the names I gave in my original post if they are legal? - they are Payday Loan - Yes, Paycheck, ameriloan, Cash Advance/CAN, National Cash / Cash-Adv, MCN / Credit Protection / and Instant Loan. I would imagine there are more than one "Paycheck" - and more than one of the others with the same name. Would it help to identify them if I gave you their toll free phone nrs. This is even if you recognize them as legal or not.

thanks again

John A