logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Pay Day Loans in default!!!! Calls starting!!!

Date: Wed, 04/12/2006 - 08:35

Submitted by tw11382
on Wed, 04/12/2006 - 08:35

Posts: 10 Credits: [Donate]

Total Replies: 5


I have 6 outstanding PDLs, some online and some through local stores, and I already contacted T & C, but here's the problem. First of all, to spare the details, my bank account is in the negative. My bank will not help me at all, I cannot close the account until my balance is in the positive, I cannot put stops on any of the ACHs unless my account is in the positive and I pay $39 each and I cannot "freeze" the account of all debits. So my account just keeps getting worse and worse and worse because of the PDL places putting their debits through. Thank God I have another checking account elsewhere that I never used for PDLs, so at least I still have somewhere for my paychecks to go. So anyhow, I contacted T & C, but I do not know if I can come up with the $155 yet. My money is so messed up right now that I don't think I can send them the money until at least a month from now. (The whole reason I decided to quit paying these is because I was getting so behind on my important bills like utilities and car payment, etc.) I will call them and tell them this, but I am just wondering if anyone had any advice as to how to keep these PDL places at bay until I can get T & C rolling. A few have contacted me already and I have just "I'll see what I can do with my next paycheck." Any advice would be appreciated!


Start calling all of the PDL people and tell them the truth that you are consolidating your debts and they will be contacted by T&C.
As for your bank, go to the bank personally and talk to the branch manager. Explain everything and that they must freeze these debits.
There's no reason why they shouldn't.


lrhall41

Submitted by erzeke1 on Wed, 04/12/2006 - 10:57

( Posts: 1145 | Credits: )


I had the same problem with my bank. I wanted to close the account but since my account was in the negitive they would not. The only way I was able to stop the PDL companies trying to get money from my account and adding up all the insufficient funds was to have reject the authorization of letting them go into my account. You will need all the information you have on the PDL company. You can get that from the contract of the loan. Its almost like doing a stop payment on a check. It worked for me...now the task of paying my negitive amount that was added up from the PDL companies.


lrhall41

Submitted by callr on Wed, 04/12/2006 - 11:03

( Posts: 10 | Credits: )


Well I have called my bank at least four times asking about my options and they are very rude and not helpful at all. I explained my situation and they basically said that all of this is my own fault because if I don't have the money to cover a transaction, I shouldn't perform that transaction. I have called the branch manager, customer service, etc. and they just will not help me. It was pretty discouraging since I have seen a lot of posts about having an account go to deposits only or stopping all ACHs. At least my bank will automatically close my account after 20 days of a negative balance, but who knows how big the balance will be by then. It makes me sick to think about it. Anyways, just out of curiosity, how would i "revoke the authorization" for the PDL places to go into my account?


lrhall41

Submitted by tw11382 on Wed, 04/12/2006 - 12:38

( Posts: 10 | Credits: )


My bank had me fill out a form to revoke the authorization of the PDL companies. I told them my situation and they said this was the only option I had. On the form I stated that they were not authorized to take as much as they were. If you go to your bank and tell them these companies are going into your account when they are not suppose to they will do this for you.


lrhall41

Submitted by callr on Thu, 04/13/2006 - 05:17

( Posts: 10 | Credits: )