Pay day loan company taking money from another bank account

In all likelihood, the payday lender is probably an illegal lender.
Have you applied for another online payday loan since you got your new account? If you have, that is probably how your account information got out. All of these online Internet payday lenders are connected in some way and they share and sell your account information to others.

As far as it being legal, it was probably stuck in contract somewhere they could have access to any of your accounts should you default, which is why THEY think it's legal. But the fact remains, you are still out all of that money and they have acquired your new account information.

Before I advise you, I need to know what the name of the pdl company is.

I'd be very interested in knowing which PDL this was. I found another thread on the internet where Loanpoint is doing this to folks sometimes years after having dealt with them.

I had to move my account and now I'd like to know how they can do this. I have paid them 1,980 on a 600 loan already. I have already sent the letter revoking ach authorization but since these companies are illegal, they continue to try and draft money from the closed account every 2 weeks. Wondering how long it will be before they somehow find my new account and try it from there.

Yes it is Loan Point USA. I am not sure what to do next.

Thank you. The PDL is Loan Point. Thank you so much for taking the time to reply. I am not sure what to do next. My original loan was 300, plus the 90 so 390. They did 400 from me from the new account, but they still want the 350 remaining because my balance keeps going up from all the fees.

I'm also new to this forum so I'll wait for a response from one of the gurus on the site.

It's really hard to believe that the banks just let these illegal companies get away with so much. I was actually told by a BoA account rep that I was not allowed to revoke Ach authorizations from these companies. By the way, that is actually against the law.

The forum here has provided me with a ton of useful information so I'm sure someone will find the answers for you.

Did you apply for another online payday loan with your new account?

Loanpoint has numerous names.

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Oh and, Loanpointusa is NOT a legal lender, you need to close your account, there really is no other option.

I'm hoping your right and the OP's new acct had gotten out through the network of pdls.

This was the other thread that I found where Loanpoint was doing this to others.
http://phoneowner.info/Number.aspx/8003518820. There are some interesting comments on that site.

Don't we all wish that we had known the depth of the problem before taking out these pdls? And I thought the high fees were the problem. High APR is only the icing on the cake!

You are absolutely right (as far as Internet pdl's). Since the OP didn't respond to my question regarding a new pdl, I would venture to say that is what happened, and it usually is what eventually comes out. I hope the OP doesn't feel I am judging them, that isn't the purpose, I am only trying to inform them for future reference, and anyone else who is reading this who may be considering applying for an Internet pdl.

I agree---no one is judging anyone here. We've all been in the same place before. When I finally opened my new acct, I was even hesitant to give the IRS my acct #. Dealing with these illegal pdls makes you paranoid about everyone.

Well, if any of these jerks gets my new # somehow illegally, I'm hiring an attorney and going full speed after them.

Yes I did try taking out another loan with the new bank account information. I guess thats how they got the account information. i should have never started this vicious cycle to begin with. I wonder if they will keep targeting any new accounts that I open

I'd think that as long as you don't use a new acct # to apply for any type of pdl online or otherwise, that your account should be okay. I've learned from this forum that they share the info and some are even running under multiple names out of the same location.

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By the way, I would like to thank you for coming back and clarifying, you have helped a lot of people by sharing your story. :)

It was not stated, but if this was a new account opened at the same bank, then it could just simply be that the two accounts were linked. Banks will normally link all accounts of the same person. In fact, they may not even tell you this or ask if you want it; it is just an automatic thing. So, if it is the same bank, always request at the time the new account is opened to NOT have them linked together.

Unfortunately, the pdl cos have his/her new account info now, so this information does not help too much. But maybe it can save someone else from this same problem.

Good luck to all!