Does anyone have sample letters for withdrawing ACH approvals?

Here

Scroll down about 12 posts and you will see a template letter. The ACH revocation is part of that letter, right under State law.

Thank you so much!

please make sure your account is secure because these companies will find ways to keep going into your account.
it is good to send the letter but i just wanted to make sure your account will also be secure. :)

I decided that I am going to pay off the illegal companies, as the total balance now due on both loans is approximately $225. I might pursue a refund of the money I overpaid in fee charges, but this way I won't have to close my account. It would be such a mess to put a hard block on it and I can afford to pay the $225 out of this paycheck.

I'm now drafting letters to the legal companies, revoking my ACH authorization. Hoping they will honor my revocation and then allow me to make payment arrangements. Are legal companies also only able to collect the principal or should I expect that they will want my payments to include fees?

Are you sure you only owe $225? I would make sure that is in writing.

The legal companies you are responsible for all payments including interest and fees as long as they are following the laws of you state.

Yes, I'm sure I only owe $225, including the fees. I've been paying on them for quite awhile so I may send them a letter after they are paid, saying that I know they are illegal and that I want a refund. Probably won't get it, but it's worth it to ask and report them.

Do you think the legal companies will continue to charge the current fees? If so, I don't think I'll ever get out of this cycle.

i hate to sound like this but i am not sure if i would trust the legal companies even not to go after the full amount that is owed :( many companies will not even work with you unless you default. i am sorry, i have just heard of this happening so many times, i know it is a hassle but i would really recommend securing your account. i had loans that i completly paid off on their terms, no default and they still cleaned out my account. also if you really have paid the illegeal companies, if you protect your account, you will not have to pay them anymore money.

bea2ls is right.

I know PayDay One if good to work with but even they will not set up arrangments until you default and you can only do that by closing your account.

Check into Cash has in house collections but when you default they will try and send the check through.

Oh dang it. What a mess this has become. Lesson learned, that's for sure.

With Paydayone, I just sent them a notice revoking my authorization for ACH/electronic withdrawals. Won't that cause my loan to default?

It might. I sent them the ACH revocation and they ignored it and then sent me an email once I defaulted.

I did not close my account but I did place and ACH stop payment on them using the same information that was used to deposit the loan and that stopped the ACH from going through.

My bank charged me $30 to do that.

Just received an email response back from Paydayone one saying that they will honor my request to stop the ACH withdrawals!!! They indicated that I'm still responsible for paying the loan as I agreed, but at least now I have some leverage to make some kind of payment arrangements with them without just paying fees, fees, and fees.

Thank you (and everyone) for all of the help on this website.

Good I am glad it worked out.

congrats :) good luck with everything, you seem to be on the right track!

I apologize if this is staring me right in the face -- I am trying to locate a copy of the letter mentioned to stop ACH withdrawals with no luck. Does someone have a sample I could use? :cry:

Read the sticky about how to deal with illegal pdl. Its either in the 12th or 13th post down in that thread is the sample letter that you can adjust to your own situation.