Help with PDLs!!!

What help do you need ? Just go to the bank and close the account

Just came back from bank and was told that I couldn't close the account, place account on debit only, or restrict ACH transactions.

is the account negative?that is the only way they can't close it.putting it on deposits only was good too though.

yes, the account is negative currently. Bank rep just told me that any transactions that came thru would be returned and subject to the nsf fee, which means more fees added to the account. I have 3 pdls that will begin to debit acct on 9/15. What options do I have, to contact the lenders and arrange payment options? I am located in MS.

if the account is on deposits only.nothing should go through,and there should be no fees.make sure it's on deposits only.see the manager for that.as far as your loans go.

who are the lenders?
how much was borrow from each?

a pdl has to have a license in your state to lend.if they are not licensed request an address to send payment.if they are unlicensed you only owe the principle borrowed.

I Was told by bank manager that account couldn't not be placed on deposit only. So even if these companies try to debit the account as many times as they want, I will be charged the bank fees. I currently owe the following:

VIP Cash: principal: 300, interest $90 total:$390
Kenwood Services: principal: 300, interest $90 total: $390
500FastCash: principal: 300, interest $90 total: $390
Fast and Reliable Cash: owe total of $312.50

Thanks...

Did you GO into the bank or speak to them on the phone? Are you the OP? What state are you located in? If you only spoke to someone on the phone it's important that you go into the bank and request a hard debit block be placed on your account, speak directly to the bank manager. When you requested a "freeze" they may have misunderstood. Explain that you are dealing with some illegal companies (three of yours are) and you are going to revoke their (the lenders) rights to debit your account per the EFTA law. They MUST honor it because the EFTA is a federal law and all financial institutions could be held responsible for not doing so.

Yes, I did go into the branch and was told that the account could not be placed on a hard debit block, deposit only status. I was told that after 30 days of the account being overdraft, I could qualify for assistance from them (paying the bank back via a loan type thing) . The account has been overdrawn since 8/24, so 30 days places me at 9/24.I am located in MS. Will I need to write letters to these companies saying I revoke their rights to ACH my account? Any help is appreciated. I am looking to get out of this pdl cycle and never look back....

You can click the link below to read your payday loan laws.
http://www.paydayloaninfo.org/state_detail.cfm?id=MS
Mississippi requires Internet lenders to be licensed in your state, I can't find a license for any of yours.I don't understand what being 30 days overdrafted would have to do with a hard debit block. It almost sounds as though the bank is trying to cash in on your bad fortune. Explain to them these companies who are withdrawing money from your account are ILLEGAL, and you are filing complaints against them with the FTC and your Attorney General's office. Tell them that you need their help! I am going to give you a link below which will explain how to deal with illegal lenders, please follow it step by step and you should be alright. CLICK HERE to find out how to deal with illegal lenders.

I have the templates to write letters to each pdl for revoking wage assignments and ACH authorizations. I am going to tailor these letters to my needs and send out to addresses. I also have a snippet of the Electronic Funds Transfer Act supplied in another post. Will I need to give my employer the wage assignment revocation? Also, do I need to contact my state's (MS) AG's office, the BBB, and the Mississippi Banking Office? Thanks to all for your help on this and information posted.

I sent out my letters/emails/faxes to these companies. I just received a call, go figure, from Kenwood Services and they say that since they are licensed in delaware, what I sent about my state laws mean nothing to them. They said the account would be turned over to collections for the full amount or I can pay with a prepaid card. Thats the only company I have heard from yet. Need help on this one!!!!

I have now joined the community as kd601.

Just wanted to update my post. Out of the pdls I had: keyword - had, I have two that have sent paid in full verifications. VIP Cash, and even Fast and Reliable even sent a $125 refund. Kenwood Services are being diffucult and refuse to ignore my c&d letter and have tried debiting my acct. Has anyone dealt with them?