Help Bank refuses to stop ACH or close account

As far as I know, payday lending is legal in Virginia. Thus, the payday lenders can come after you in order to recover their debts in full including the late fees and charges. Nevertheless, you should contact the Virginia Bureau of Financial Institutions in order to find out whether or not your payday lender is licensed to operate in your state. If they are licensed to operate in your state, then you will be liable for paying the debts in full. In such a situation, you may contact any debt relief company and go for the option of payday loan consolidation and get rid of the debts.

That stinks that your bank won't help you!! Good advice from ANNA...check to see if the PDL lender is legal in your state. I know PDL's can get overwhelming!! I had a few, myself, coming out all at one time and I had NO money left. Some 'personal' advice for you?..maybe you can just open an account, with another bank (if you can) and don't give the account number out to anyone. I actually had to do that some time ago. I just needed a 'new' start on things.

I know payday loans are legal in VA, but the online payday loans are illegal I found out and the 2 companies I got loans from are in Costa Rica I do believe. What I don't understand is since it is illegal for online payday loans in VA and these companies are doing business from Costa Rica and I have told them I would pay them but they would have to wait and not debit my account since there is no funds in there at this time (which they will not listen) Why my bank refuses to do anything about the block or close the account. They are making my account way negative just for bank fees and yet they do nothing.

NO overseas PDL is legal. Sounds like your bank just doesn't want to look into anything and doesn't want to take the time and help you. :( I would open another account at another bank, if you can. It may be just the best thing you can do, at this point.

if you haven't gone in person.do so asap.also if you haven't drafted an ACH REVOCATION letter do so,and bring it to them.once they are shown the letter.they must comply,or they are breaking a federal law as the EFTA(electronic funds transfer act)is a federal law.go in person with the letter,a copy of the EFTA wouldn't hurt,and see the manager in person.that should get this done.

Paul is right.

Also, instead of going to your local branch, go to the main branch of the bank, usually in the "downtown" location of your nearest large city.

Definitely do what Paul says and get to the bank and talk to the manager. If your account has been messed up to where it's overdrawn, at least try to put it on deposit only status until the balance is paid back.

By not paying back your loans you may be costing others there jobs.

What you should or may have done immediately was contact the loan companies advising them of your employment situation. Provide proof to them if necessary and show that you are able to collect unemployment.

You didn't state anything about unemployment benefits.

Do you qualify for unemployment? Contacting a loan company and telling them the money ain't in there isn't going to help anyone.

Not even the top banks including citigroup personal loans will buy that and will still try to draft your account.

Taking advice to go into a bank and plead for help for a PDL is probably going to be a lost cause. The banks are the ones that have lobbied against PDL loans because it competes with them.

You know for sure that bank your walking into never would of lent you anything without really good credit so they have no sympathy for you. The banks feed on you more than the PDL companies ever will.

people like you never cease to amaze me.i will bust your bubble with some bullet points.

1)the EFTA is a federal law,and banks can,and have had legal action taken against them for not complying.
2)the two loans being discussed are illegal,and therefore anybody who borrows from them only owes the principle.
3)there are countless posts of people who have tried to explain that they are unemployed only to be threatened with everything under the sun.
4)the only jobs lost are anybody sued for not complying with the EFTA.
5)i don't consider illegal pdl's jobs.they have no license,and most likely don't pay taxes while the humanoids who harrass more than likely don't pay taxes as well.meaning they are a burden on real people who do pay taxes.

there you have it another idiotic post refuted by yours truly.now get lost!!!!!!!!!!!!!!!!!

Paul makes great points. I really wish I could "Like" this! So I'm posting to bump it :)

Payday loans in Virginia under the Payday Loan Act, ?? [URL="http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+6.1-444"]6.1-444[/URL] et seq. of the Code of Virginia.

Also, you may contact the Virginia State Corporation Commission's Bureau of Financial Institutions toll-free at (800) 552-7945 or on the Internet at http://www.scc.virginia.gov/bfi

The lender cannot require you to provide more than one check as security for any payday loan. The check must be dated as of the date your loan is due. The lender cannot require you to provide any security for your payday loan other than a check payable to the lender. The lender is also prohibited from electronically debiting your deposit account or obtaining any of your funds by electronic means.

If any provision of your loan agreement violates the Payday Loan Act (?? [URL="http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+6.1-444"]6.1-444[/URL] et seq. of the Code of Virginia), the provision will not be enforceable against you.

In collecting or attempting to collect a payday loan, the lender is required to comply with the restrictions and prohibitions applicable to debt collectors contained in the Fair Debt Collection Practices Act, 15 USC ?? 1692 et seq., regarding harassment or abuse, false or misleading misrepresentations, and unfair practices in collections. The lender is also prohibited from threatening or beginning criminal proceedings against you if a check you provide to the lender bounces. If a lender knowingly violates this prohibition, the lender is required to pay you a civil monetary penalty equal to three times the amount of the dishonored check.

If you cannot or do not repay the loan: (i) the lender is permitted to recover from you any fee charged to the lender (maximum of $25) as a result of your check being returned due to your account being closed by you or containing insufficient funds, or if you stopped payment on your check; and (ii) if the lender seeks and obtains judgment against you as a result of your returned check, the lender may obtain court costs and reasonable attorney's fees (total may not exceed $250) if such costs and fees are awarded by the court.