EFTA and Stopping PDL ACH Payments
Date: Tue, 04/05/2011 - 10:35
So I did a search on the EFTA and how to stop ACH payments and the law and I had a few questions. Has anyone gotten their bank to stop these PDL ACH payments by quoting this law? Im still kinda confused about the EFTA and how it pertains to stopping payments. I havent paid anything yet on the PDL listed below but I just want to send them a money order and be done with them and dont want them touching my account. Thanks for the help.
PDL
NHCash-$300
Beacon-$200
PDL
NHCash-$300
Beacon-$200
EFTA (Electronic fund transfer act) is a law which is implemente
EFTA (Electronic fund transfer act) is a law which is implemented in order to help you when you lose your credit card or when it gets stolen. As far as I know, EFTA only allows you to revoke ACH authorization on "recurring" payments. You need to check out your state laws in order to find whether or not payday lending is legal in your state. If payday lending is not legal in your state or if the lender is not licensed, then you can simply send them the principal amount and close down your account. Once you close down the account, they won't be able to debit any money from your account.
