First Bank of Delaware Help

Date: Fri, 04/24/2009 - 17:38

Submitted by tony_h736
on Fri, 04/24/2009 - 17:38

Posts: 12 Credits: [Donate]

Total Replies: 5

I am needing help with First Bank of Delaware. I know that they are an installment loan but I am needing to revoke my ACH authorization. Because I can no longer pay them what I owe them. Does anyone know what form I need to send them to revoke the authorization. Hopefully after I revoke I can set them up on a monthly payment versus a bi-weekly one.

I found the 1st Bank of Delaware (DRS Bonded actually handles my

I found the 1st Bank of Delaware (DRS Bonded actually handles my account and it's where I send my payments to) nice to deal with and I had no problem setting up a monthly agreement with them. It's going to take me a few years to pay them off but it's an amount that I can afford.

lrhall41

Submitted by m2f2 on Fri, 04/24/2009 - 21:30

( Posts: 47 | Credits: )

Is your loan directly with FBD? Here is a sample letter for A

Is your loan directly with FBD?

Here is a sample letter for ACH revocation.
Quote:

Date:

Name Of PDL

Your Name
City, State
Account #

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the XXXXXX to protect my interest in this matter, per instructions from The _____ Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I will be in contact with you in hopes of a monthly repayment plan in a timely manner.

Sincerely,

Your Name
CC:
Better Business Bureau
Ohio Attorney General
Federal Trade Commission

lrhall41

Submitted by Cool_Abyss on Sat, 04/25/2009 - 08:50

( Posts: 2936 | Credits: )

I'm just paying the principle on the loan that I am paying back

I'm just paying the principle on the loan that I am paying back monthly to DRS/1st Bank of Delaware. I am not paying any interest back.

lrhall41

Submitted by m2f2 on Sat, 04/25/2009 - 10:12

( Posts: 47 | Credits: )

My loan is directly threw First Bank of Delaware. The original a

My loan is directly threw First Bank of Delaware. The original amount I was loaned was 500.00. I have paided all of that back now but owe all of the interest. Also I don't want to close my bank account so I am going to modify that ACH authorization form to suit my needs but thanks for the help.

lrhall41

Submitted by tony_h736 on Sat, 04/25/2009 - 12:48

( Posts: 12 | Credits: )

So you paid of the principal but are now paying interest on the

So you paid of the principal but are now paying interest on the loan. :?

Have you tried calling the lender and tried to establish a monthly payment agreement?

lrhall41

Submitted by Cool_Abyss on Sat, 04/25/2009 - 13:07

( Posts: 2936 | Credits: )