Payday loan cycle
Date: Thu, 01/06/2011 - 10:28
Duplicate post http://www.debtconsolidationcare.com/paydayloan/usabank-alabama.html
I have also emailed this same request via the USAA Website. I am hoping this works. I have set up a new account but I can't close the other until the check and atm card come so I can change my direct deposit. If anyone has any additional advice on how USAA works with these types of things I would greatly appreciate it.
I am won't know if it works until the 10th when my check gets deposited and the PDL's try to come out. I am freaking out until then.
A quick note, your financial institution MUST honor your ACH rev
A quick note, your financial institution MUST honor your ACH revocation requests, they are breaking the law by telling you they can't and should be turned over to their regulator! They must adhere to regulation E which states:
[QUOTE]Electronic Funds Transfer Act
907. Preauthorized transfers
(a) A preauthorized electronic fund transfer from a consumer's account may be authorized by the consumer only in writing, and a copy of such authorization shall be provided to the consumer when made. A consumer may stop payment of a preauthorized electronic fund transfer by notifying the financial institution orally or in writing at any time up to three business days preceding the scheduled date of such transfer. The financial institution may require written confirmation to be provided to it within fourteen days of an oral notification if, when the oral notification is made, the consumer is advised of such requirement and the address to which such confirmation should be sent.
(b) In the case of preauthorized transfers from a consumer's account to the same person which may vary in amount, the financial institution or designated payee shall, prior to each transfer, provide reasonable advance notice to the consumer, in accordance with regulations of the Board, of the amount to be transferred and the scheduled date of the transfer.
[Codified to 15 U.S.C. 1693e]
[Source: Section 907 of title IX of the Act of May 29, 1968 (Pub. L. No. 90-321), as added by title XX of the Act of November 10, 1978 (Pub. L. No. 95-630; 92 Stat. 3733), effective May 10, 1980][/QUOTE]
You should NOT be paying a dime for stop payments, you need to speak directly to your branch manager, no one else will do.
None of these are legal. Stopping payments will not work with th
None of these are legal. Stopping payments will not work with these companies, they will change their names and debit HUGE amounts from your account. CLOSE YOUR ACCOUNT, that is the only option you have. Speak to the branch manager about ACH blocks, they must honor your requests, that is a federal law. CLICK HERE to find out how to deal with illegal lenders.
That's one of the reasons I won't deal with an on-oline bank, ev
That's one of the reasons I won't deal with an on-oline bank, even though USAA is a good company.
Is there any way you can get a paper check issued? Tell your employer your account has been compromised?
Did you ask USAA to mark your account "deposit only"?? Until you close the account you are at the mercy of the pdls, who by the way, could change the amounts of the debits in which case the ach revocations wouldn't work. A lot of banks go by the amount and not by the payor.
