Checking account question
Date: Mon, 10/27/2008 - 14:58
My apologies if this question has been asked on these forums before. I am wondering if there's any way a bank can block ACH withdrawals from Payday loan services without having to close your account. I've had my checking account with Bank of America for many years. I have my billpay setup with them, I earn points with my debit card, etc. I would hate to have to close it. I am considering calling PDL Assistance. Has anyone dealt with them and do they recommend you close your account, or do they offer alternatives? I hate that these payday services can keep accessing my checking account. I have three payday loans totaling $1300 and want to pay them off, but I can't keep paying the fees every paycheck (which is why I'm sure all of you are on this forum). Thanks in advance for any advice/guidance as it is greatly appreciated.
--jazzman31
Leaving your bank account open is risky when you are dealing wit
Leaving your bank account open is risky when you are dealing with these pdl companies. Please read the sticky about closing your bank account. I was in the same postion as you with bofa but I did close my account and I do not regret it.
BofA has notified me that these companies are still hitting my closed account. It is important that you protect your interests.
I agree with kfstaff24; it might be a hassle to open a new accou
I agree with kfstaff24; it might be a hassle to open a new account and notify all of your "legit" ACH's for your bills, etc., but it's more than worth it to stop the PDL's from bleeding you dry. Too, if you block ACH's from particular PDL's, many of them have several names, they could always try to debit your account under another name or, assuming you gave them a paper check when you first signed for the PDL, they could use a check. As kfstaff24 says, please read the sticky on this site about closing your checking account; write down any questions you have, go to your bank, and talk to the manager. Chances are they've heard the PDL story before and should be willing to work with you.
