Closing Your Bank Account
Date: Thu, 10/16/2008 - 11:11
I know the answers to my question re this are here somewhere... I have decided I am to going to close my account at Chase. To be honest I dont regret this at all as I dont like Chase much and their customer service leaves a lot to be desired. I have planned on if not shutting the account down to transfer the majority of the transactions to a non-Chase account anyway independent of the problems I am having with the payday loans.
What are the details here? Once I close the account should I already have sent the payday companies something in writing asking for their cooperation in setting up a payment plan? Legally what do I owe them- the full amount they say I do including the interest fees etc or something different?
And what about ameriloan? I have paid them over and above the principal! Do I simply send them a note thanks etc. but my responsibilities to your company are at an end?
I gather from some of your info on closing the account there can be repurcussions- submissions received from the ACH may reopen it. What details of this process should I be aware of- closing the account etc? Thanks!
What are the details here? Once I close the account should I already have sent the payday companies something in writing asking for their cooperation in setting up a payment plan? Legally what do I owe them- the full amount they say I do including the interest fees etc or something different?
And what about ameriloan? I have paid them over and above the principal! Do I simply send them a note thanks etc. but my responsibilities to your company are at an end?
I gather from some of your info on closing the account there can be repurcussions- submissions received from the ACH may reopen it. What details of this process should I be aware of- closing the account etc? Thanks!
The bank needs to put a hard freeze on your account meaning noth
The bank needs to put a hard freeze on your account meaning nothing can come in and nothting can go out. It is best to do this while your account is in good standing, do not wait until you are overdrawn or they will not close the account. The freeze is to not allow any Ach debits to reopen the account.
One last thing secure your account first then notify your pdl's.
One last thing secure your account first then notify your pdl's. I am in the same position with ameriloan so I will keep you posted on how it goes.