Get out of pdl
Date: Sat, 10/19/2013 - 13:55
I called to get payoff and was told payoff was 3030.00 I live in Ohio,
I went to my credit union to close my account. They said as long as the lender keeps putting in for payment I will still be charged NSF fee. What can I do now?
If your lender in licensed,
If your lender in licensed, then you will have to pay both the principal and interest. But if they are illegal, then you are required to pay them only the principal balance, nothing more than that. In this case closing down your old bank account would be the right decision for you. Don’t pay any interest or fees to your illegal lenders.
Tell your credit union they
Tell your credit union they are fraudulently taking money out of your account as they are illegal. I had to do this with my Bank of America account. They immediately closed the account.
have you revoked ACH authorization
if so any ACH debit must be investigated by your bank and once you show them ACH authorization was indeed revoked, you're getting your money back. This is the LAW. This is not up to your bank. My bank pushed back a few times, I made sure to remind them of FDIC regulations... So far I have had 5 ACH returned ranging from $100 to $1,300! the PDL involved no longer had ACH authorization so I got a refund within a week. It takes time and effort but the law is on your side. Don't let some incompetent bank employees tell you otherwise.
