Riscuity processed ACH Debit with no notification-help

Looks to me like a payday loan, made maybe on May 12 of 2005? (051205)

Dispute it with your bank if you did not make this loan. They will have to investigate it.

Sandra

You called Riscuity, and they have been no help to you? You need to send them a validation request letter. They will explain in the letter what the charge is for, and where it originated.

You claim however, that you also had an ex on this account; have you tried any other means of trying to reach them? Your best bet before going any further would be to try and reach them. Perhaps they would have information.

The sooner you get this letter out to Riscuity, the better. By the way, what was the amount of the charge made by Riscuity?

Regards-
Mike

the amount was $610, and the actual debit occurred on 12/5/05, so in memo from my bank I posted previously, I can't tell if the EFF DATE means may 12, 05 or 5 dec 05. I filed a dispute with my bank but have not gotten any other information. My ex has been in and out of the hospital with a rare disease. If this is a payday loan, do i just ask Riscuity for the proof-like who the payday loan company is, and who took out the loan? I have never taken out a payday loan myself. Yes, I will get a letter out, I copied one that you guys had on here-do I just demand the same information as in the validation letter? Now when I spoke with Riscuity the guy pretty much told me that they could not find the information/or at least he did not have access to it right then and he would call me back. I have personally had to deal with those F-ers PAYCO about 10 years ago so I know what my rights are and how to go about it. What i'm looking for are any other numbers to contact these people and get the information i need to get it cleared up. I am the primary account holder for the account they debited, I hope that helps in getting the information. Thanks for your reply.

You're welcome! Let us know what you find out!

Sandra

Is this loan paid off, from what you can gather? The amount of $610 seems to be an awfully high amount. It seems to be that you shouldn't be getting contacted by Riscuity, and should only have to deal with the loan company themselves.

This will be awfully hard to dispute with your bank now, seeing how you said the charge happened back in December of 2005.

Please let us know on what you find out.

Regards-
Mike

You can try telling your bank it was a fraud charge because you did not authorize ACH withdrawal. According to Regulation E they would have to reverse the entry.

I posted some stuff about that today in another place on this website, including the text of relevant federal statutes (though I didn't notice where I put it). The long and short of it is that you've got sixty days from the date of the statement to complain, and the bank has to back out the charge and do an investigation. I recommend a written notice of disputed charge, copy the statement highlighting the offending line, and take a witness with you to the bank to deliver the protest in person.