Payday Loan Yes/World Wide Cash
Date: Sat, 10/04/2008 - 10:34
WWC started deducting $89 from our bank account ever week (at least 5 times now)
Payday Loan Yes started deducting $105 from our bank account ever week (at least 3 times now)
After failing to make alternative payment arrangements with these two companies, I called our bank and placed a stop order on them. Apparently I did something wrong becuase they still attempted to take the money out and WWC even went as far as deducting two payments of $45 and then $44!
Today, we checked our bank statement online only to find out that there was a 'Telephone/Fax Check Payment' for $590 posted to our bank account yesterday AND paid by our bank even though we had less than $50 in our account!
The picture of the check on our bank statement says 'First National Services' and after researching I found out that they are part of Payday Loan Yes.
I called the bank and they do not have contact details for this company and told me to call back on Monday morning and file a claim.
What should we do? Will the bank be able to reverse this check? Are they even allowed to do that? I'm just completely horrified!
I have applied for a new bank account and am waiting on it to be approved and set up.
If you fill out the form for an unauthorized withdrawal the bank
If you fill out the form for an unauthorized withdrawal the bank should be able to reverse it for you. Even if you put a stop payment on the companies, they can find away around it. The can either debit under a different name or put through a paper check as the other company did...
Yup
Here's the rub, your husband entered into a contract with these companies. He agreed to borrow X number of dollars with a finanace rate. He agree to pay them off with in two weeks (or so) or they would deducte the finacing rate from you account every week and "re-issue" the loan. He also agreed to a direct debit and technically your bank has no right or reason to stop them.
The reason they won't except other payment arrangements is that they again, legally don't have to.
Your best bet is, if you can, just pay them off and NEVER get another pay day loan again!
reply
please ignore the troll.both of these pdl's have no license to lend therefore are illegal themselves.the supposed contracts are not worth the paper they are printed on.heck paydayloan yes doesn't even furnish contracts.oh and ACH debit consent can be revoked at anytime.the only part of your blither i agree with is the part about not taking another pdl.the rest you can keep suzyp.
Yes --- your bank will be able to reverse the charge. You shoul
Yes --- your bank will be able to reverse the charge. You should send WWC a letter revoking any further ACH charges --- by email. it will stop any additional ACH charges --- it worked for me with them. and since i already paid the principal balance with all their "refinance" fees. i wrote them a letter stating the State laws and how they were illegal (by email) and I actually received a letter from their company based in England stating that my account was paid in full.