PDL "Stole" from my account!
Date: Sat, 02/06/2010 - 07:46
1. I took a ton of PDL's a little over three years ago. Big mistake.
2. I was in over my head so I closed my bank account and moved. I also disputed the amounts that the PDL Co's said I owed. I felt like I had paid them 10 times over!
3. In May 2007 I received a letter stating that they wanted my new bank account info. I replied with a letter to the only physical address I could find and via email revoking any and all permission to debit my accounts.
4. In July 2007 I received and email telling me the PDL Co was searching for accounts in my name and would TAKE their money. I followed up with a letter stating that I had disputed the amount as the account was paid, that they were not licensed in Florida, that they had not complied with the FFDCA in any way and that I had revoked any authorization for ACH debits and I would view any debits as theft.
5. Last week I applied for a loan through a local brick and mortar loan company. Apparently I gave them permission to share my information with their affiliates so I could get the "best loan available." This local company seems legit - "real" interest rates and normal repayment schedules. As soon as I applied my email was bombarded with offers of "easy credit."
6. It seems one of the affiliates was Loan Shop Online - the company who threatened to "take" what I owed them.
7. Loan Shop Online did take $390 out of my new checking account. I filed a complaint with the bank right away. I also called LSO and was told that I couldn't revoke my authorization while I owed them money and that I agreed they could debit any account I had.
8. The bank has informed me that it is up to LSO to prove they had permission to debit the account. I'm concerned they will show the original online permission and I'll be screwed. If the bank asks me to rebut LSO's assertion that they had authorization, would the copy of the letter revoking authorization, the email restating that revocation, the fact that I did not have an account with this bank 3 years ago and the fact that a third party provided the information be enough to show I did not authorize the debit?
9. In addition, I have the original email for the loan in question. It is dated January 30 2007. I have a second letter from LSO thanking me for paying my loan properly and the great business and asking me to take another loan. I have a third letter dated April 2007 saying I owed them for the January 30th loan! Surely there is an issue on their end.
10. Finally, I have another loan company who has deposited $250 to my account! I asked the bank to return this amount and I was told I had to contact the company and resolve the issue. I called them and they said they would be happy to help - all they needed was my SS#, my employer, and permission to debit the amount! There is no way I would provide that information and they have told me they can't resolve the issue without it. They aren't getting it.
Am in trouble again, or can this be resolved easily? Opinions?
Whomever you're dealing with at your bank should be fired. If
Whomever you're dealing with at your bank should be fired.
If you provide a copy of the ACH revocation letters you sent to the PDL to your bank, they should honor it. Even if there is an online permission that turns up, you still have the right to revoke any and all ACH debits in writing (regardless of what LSO says) and your bank has to honor it even if LSO doesn't. Give your bank all of the documentation you mentioned. Go to a bank manager or official, not a teller. Let them know that you (and the bank) is dealing with an illegal business whom you don't want to have access to your account. If they continue to give you grief, take it higher up on to Corporate if necessary.
Tell your bank that you didn't request the $250 loan and demand for the amount to be reversed. I've never heard of any bank who couldn't/wouldn't reverse a transaction once the accountholder disputed it.
I'm sure some of the others here will chime in.
agreed, you can revoke an ACH at anytime regardless of anything.
agreed, you can revoke an ACH at anytime regardless of anything. they are full of it, speak to the manager and corporate, this is not right.
I closed my account today - the bank recommended this. There is
I closed my account today - the bank recommended this. There is nothing pending at this time, but I am concerned that if another ach is submitted it will force open my account. The branch manager assured me that anything that shows up will be returned.
I also kept the $250. I will be happy to pay it back - when the company provides me an address I will send a cashier's check. Otherwise it stays put.
What liabilities have I now opened myself up to? I am also waiting for the bank to finish their investigation and I don't see how they can not find the withdrawal unauthorized, but you never know. I am really concerned.
Ask the branch manager if an attempted debit can reopen your acc
Ask the branch manager if an attempted debit can reopen your account, that's something only the bank can tell you, it depends on their policies. As far as you liabilities, you really should pay back the amount you kept, that would be all you are liable for if the lender isn't licensed to lend in your state.
Keeping the $250 makes you liable only for the principle amount
Keeping the $250 makes you liable only for the principle amount of the loan, however, keeping it also contradicts your statement that you didn't request the loan and the PDL will hold you liable not only for the principle but also for any additional fees. Keeping the $250 = you borrowed it, according to the PDLs. Why didn't you just have your bank reverse the deposit?
Quote:Originally Posted by IconKeeping the $250 makes you liable
Quote:
Originally Posted by Icon Keeping the $250 makes you liable only for the principle amount of the loan, however, keeping it also contradicts your statement that you didn't request the loan and the PDL will hold you liable not only for the principle but also for any additional fees. Keeping the $250 = you borrowed it, according to the PDLs. Why didn't you just have your bank reverse the deposit? |
I agree, except the company wouldn't facilitate the return of the money. I've sent a letter to the only address I could find. I also sent an email and called the 800 number and was told they will not accept a regular check, only ach, and they wouldn't debit the amount unless I provided them with my personal information, and I am not willing to do that.
My bank told me they wouldn't reverse the deposit. I will call them again and double check.
Did the PDL provide a physical address for you to send the cashi
Did the PDL provide a physical address for you to send the cashiers' check? Personally I'd send a money order instead, but that's just me.
I thought a bank could reverse a deposit if it's disputed (like they can an unauthorized debit if you provide supporting documentation), but maybe it just depends on the bank.
Quote:Originally Posted by IconDid the PDL provide a physical ad
Quote:
Originally Posted by Icon Did the PDL provide a physical address for you to send the cashiers' check? Personally I'd send a money order instead, but that's just me. I thought a bank could reverse a deposit if it's disputed (like they can an unauthorized debit if you provide supporting documentation), but maybe it just depends on the bank. |
They refused to provide a physical address on the phone - they only work via ACH. If they provide a way to send them the original deposit, I'll be happy to refund their deposit.
They can say that I owe them more, but that is a far cry from getting anything.
The bank stated that I had to go through the company that made the deposit to get them to reverse it. I thought it sounded odd as well.
Quote:Originally Posted by AnonymousThey refused to provide a ph
Quote:
Originally Posted by Anonymous They refused to provide a physical address on the phone - they only work via ACH. If they provide a way to send them the original deposit, I'll be happy to refund their deposit. They can say that I owe them more, but that is a far cry from getting anything. The bank stated that I had to go through the company that made the deposit to get them to reverse it. I thought it sounded odd as well. |
Your financial institution is responsible for honoring your ach revocation, per the EFTA.
your bank can reverse it.. some places make it difficult to pay
your bank can reverse it.. some places make it difficult to pay back (give you a hard time about providing physical address, etc.) and you do not want this hanging over you in anyway.
My bank reversed the ACH debits, closed the account, and has ref
My bank reversed the ACH debits, closed the account, and has refused additional debits. GMC Group has tried to take 4 ACH debits in two days. I suspect they will contact me and I'm going to tell them to give me a physical address so I can return the original amount or they can file suit and we'll go to court. They're a scam.
The original company that released my info has apologized and insists that they do not authorize anyone to touch my accounts in any way. They have returned all the finance charges and the fees associated with the returned ach from my closed account.
Aside from not reversing the deposit to my account, my bank has actually been great.