I Feel Like giving up!!!

How can I contact them? I am in the same situation. Glad to know I am not alone.

Guest

Welcome to the forums! Please don't give up. Things will get better. Speak with a professional conselor about the situation if need be. You could even ask your debt counselor if things can be sped up, so the situation can get over with quicker. You should also ask them their advice about your credit unions decision to honor the debits.

Your financial institution should have honored your request to chanage account numbers, but should not have honored the electronic debits tied to the other account number. Call your credit union and ask to speak with the branch manager about this situation. Explain to them that you're currently going through debt consolidation, and the companies you have dealt with are still attempting to take funds out. There should be no further explaination, as you have requested this debits not to be honored.

Hopefully in the next couple of weeks you can get caught up in all your payments. However, you still need to contact all your creditors (such as cable and your electric company) and make prior payment arrangements. Perhaps they'll each let you make 1/2 payments and get caught up at a later time.

Things will get better!

Regards-
Mike

Thanks Mikey.
I am already a member of the forum (just forgot to login in my current miserablr status). I saw a posting about Regulation E and I did some research on it this afternoon and it seems that they(my credit union ) would have to honor my request. The only problem is that the payday loan people might change the anticipated debit amount. I will definitely take your advice about calling the branch manager about the matter. My debt counselor tells me that the unfortunate thing is that the companies don't even want to discuss payment arrangements until you have defaulted. That's crazy! I am trying to do the right thing and I am being blocked every time I turn.

iloveteaching

You've already set up other arrangements to pay off the debt (which I'm assuming you explained or will explain to your credit union), so any debits that come through will be unauthorized.

I can't imagine why they would tell that they'll still be honored. Speaking with the branch manager will defititely clean up this mess.

Most credit unions hate publicity as they're member run. Since they don't usually do any advertising, they hate losing members.

Explain your next steps, if the still intend to honor the debits even after being told you're working with debt consolidators.

Regards-
Mike

I will definitely speak with the branch manager. I am so frustrated with my credit union.

Quote:

Shirley

Usually when you change account numbers, they'll ask the reason for the request. If being honest, and explaining to them you do not want debits to be honored that you think are going to come through, they'll honor the request. They'll ask you what checks you want to clear, and if there are any debits you want to clear. All the others will come back as account closed.

oh, thanks for explaining that Mikey! I was wondering how that worked as far as changing account numbers.

What about opening the new account with some other place? Since you are going to talk with your payroll department, you can inform them about the account change.

I can open another account. In fact I already have another account. However, I can't not put money into this one because this credit union owns our vehicles and takes money from our paychecks for the payments

I have another question (Hope I'm not asking too many ?s) I just entered into consolidation with T&C last week (Thursday). Now, they say that they hae sent out letters and are still contacting creditors. If the creditors don't accept the arrangement can I still go to the bank and tell them that I am in consolidation and that these withdrawals are unauthorized? Like I said before, my T&C counselor says that the companies don't want to talk payment arrangements until you have defaulted. I don't want to go to my bank making false statements saying that the debits are unauthorized when they are. And have you guys ever heard of the bank not being able to stop ACH debits that were done on the internet???

stop direct deposit and they can close those accts and not honor those debts you may have to spk to someone in the branch that has power to do that because if they close that acct nothing can be done and open up a new one so nothing else can come out of it if they don't know your new info. call the bank and spk to someone else and don't stop trying. if that acct is close what can they do

I can stop my direct deposit. Unfortunately, car payments come out of my husband's direct deposit. I am hoping that by the time I am paid again (March 31st) T&C will have made some progress with these people. If they haven't, I won't even have enough money to pay them (T&C) and I don't even want to think about that!

Can you maintain a savings account? Can you direct deposit into one of those? I think the answer's "no" but . . .