Recovering from PDL nightmare

From what I was told by a bank manager. You account can only remain overdrawn for 120 days. After that the bank will close it and very often give it to a third party collector. At that pouint they will report you to Chex. I would go to the bank and speak directly with the branch manager. Not an assistant but the manager. Explain the whole thing and tell that person that you really want to resolve this. You may find asI did that they can be very receptive. Good luck and don't wait. You are very close to being reported. Member Volleyball Mom should be along with good info for you as she knows the banking system well.

One positive note is none of these are bounced checks, just ACH charges.

I sent a PM to someone who can offer good advice. She is on the west coast so it may be an hour or so.

Thanks, like i said I couldn't get the bank to block the ACH charges so it ran up to the point it was out of control, I moved to US Bank and had a PDL track me over there and they were very helpful and blocked the ACH charges, returned the ach debit from my account. I closed that account and moved to 2 smaller banks and 1 big bank (BOA) and so far been safe, i just don''t write checks to retail stores.

dpetty-
Did you take the letters you sent the PDL's into the bank to show you revoked ACH rights from the PDL? If not, you need to .....they should have stoppped those ACH drafts in accordance with the Electronic Funds Transfer Act.I will post more info....

Did the letter actually say you were being reported to Chex? As far as I know, you can be reported to Chex for a closed, overdraft account regardless if ACH transactions or otherwise.

I knew that VBM would have the right angle on this. Thanks for your help!

[quote]Quote:
???? 205.10 Preauthorized transfers.

(a) Preauthorized transfers to consumer's account--(1) Notice by financial institution. When a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by:
(i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or
(ii) Negative notice. Providing oral or written notice, within two business days after the date on which the transfer was scheduled to occur, that the transfer did not occur; or
(iii) Readily-available telephone line. Providing a readily available telephone line that the consumer may call to determine whether the transfer occurred and disclosing the telephone number on the initial disclosure of account terms and on each periodic statement.
{{10-30-98 p.7369}}
(2) Notice by payor. A financial institution need not provide notice of a transfer if the payor gives the consumer positive notice that the transfer has been initiated.
(3) Crediting. A financial institution that receives a preauthorized transfer of the type described in paragraph (a)(1) of this section shall credit the amount of the transfer as of the date the funds for the transfer are received.
(b) Written authorization for preauthorized transfers from consumer's account. Preauthorized electronic fund transfers from a consumer's account may be authorized only by a writing signed or similarly authenticated by the consumer. The person that obtains the authorization shall provide a copy to the consumer.
(c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.
(2) Written confirmation. The financial institution may require the consumer to give written confirmation of a stop-payment order within 14 days of an oral notification. An institution that requires written confirmation shall inform the consumer of the requirement and provide the address where confirmation must be sent when the consumer gives the oral notification. An oral stop-payment order ceases to be binding after 14 days if the consumer fails to provide the required written confirmation.
(d) Notice of transfers varying in amount--(1) Notice. When a preauthorized electronic fund transfer from the consumer's accounts will vary in amount from the previous transfer under the same authorization or from the preauthorized amount, the designated payee or the financial institution shall send the consumer written notice of the amount and date of the transfer at least 10 days before the scheduled date of transfer.
(2) Range. The designated payee or the institution shall inform the consumer of the right to receive notice of all varying transfers, but may give the consumer the option of receiving notice only when a transfer falls outside a specified range of amounts or only when a transfer differs from the most recent transfer by more than an agreed-upon amount.
(e) Compulsory use--(1) Credit. No financial institution or other person may condition an extension of credit to a consumer on the consumer's repayment by preauthorized electronic fund transfers, except for credit extended under an overdraft credit plan or extended to maintain a specified minimum balance in the consumer's account.
(2) Employment or government benefit. No financial institution or other person may require a consumer to establish an account for receipt of electronic fund transfers with a particular institution as a condition of employment or receipt of a government benefit.

[Codified to 12 C.F.R. ???? 205.10]

[Section 205.10 added at 44 Fed. Reg. 59471, October 15, 1979; amended at 45 Fed. Reg. 8265, February 6, 1980, effective May 10, 1980; 61 Fed. Reg. 19672, May 2, 1996][/quote]

http://www.bankersonline.com/regs/205/205-10.html

volleyballmom,

No the letter didn't state Chexsystems, only reporting agenics, now please note I have made several payments so far, right on time but even thought I have sent all my letters and all I still have a couple dinging the account weekly. I did speak to the top person over customer accounts and his boss as well and they told me it was my responiablity to get the ACH debits stopped and it was bank policy to allow ACH transactions unless I could prove they were fraud. I did show them the revoking ACH letters but again they said it up to me to get them to stop as they were not getting in the middle of that.

Far as I know I may have already been reported as I had setup a option they provide called "second chance", what it is they keep the account open and u pay down the debt.