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Problems with Cashnetusa and BIG

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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 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.

Sub: #1 posted on Tue, 08/19/2008 - 07:30

Shazzers Shazzers
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