Problems with Cashnetusa and BIG
Date: Tue, 08/19/2008 - 07:14
Hello guys, Well i am glad to say that i am starting to work this payday loan thing out. I have three loans, Cashnetusa,amscot and BIG. I went down to Amscot yesterday and they were really helpful, I will actually have them paid off in about three weeks thanks to their extended payment plan. But, im having a problem with the bank concerning cashnet and BIG. Last week i put a stop payment on cashnet because i knew that i would not have the entire 669.54 that they wanted to debit my account. I had already spoken to them about working something out, with no success so i was going to send them what i could afford every month by money order. Anyway the transaction went through on my account for cashnet and i am now overdrawn! BIG also debited my account at the same time. I have actually paid BIG over 700.00 on an initial 200.00 loan. What do you guys think that i should do about these two? Thanks for any advice.
What state are you in? Did you revoke ACH authorization with BIG
What state are you in? Did you revoke ACH authorization with BIG and Cashnetusa in writing? I would go into my bank and dispute those transactions, tell the bank those were unauthorized debits. You will probably have to fill out a dispute form with the bank, it will most likely take a few days for the bank to investigate. Placing a stop payments on these companies isn't an effective way to keep them from debiting your account. There are only two choices in the matter of unlicensed/illegal payday lenders, either a.) close your account OR b.) place a hard debit block on your account.
