Does anyone know who LST Financial is?? or SJM Marketing?

You can find more info on them by using the search box uptop. Good Luck! :)

What was the number you called for LTS Financial?

Actually not knowing who is who is pretty common. I think the PDLs like it that way. The more illusive they are, the less of a chance they can get caught. Seems to me if you were legit and above board you would WANT your clients to know where you are and how to contact you. I guess that's it in a nutshell.

Check out a site called RipOffReport.com and you will find out that they are connected with a scam operation called EDebitPay.com. Fox 11 news ran an article about them and a Federal Lawsuit. Good Luck!

LST Financial is actually a 3rd party ACH Processing company. Meaning you were actually being charged by a different company that pays LST to do all there ACH Credits and Debits. My guess it was from SJM Marketing which is another debt buyer group whom may have purchased your unpaid debt from an old creditor or bill.

The answer to your question is quite simple. LST Financial is a 3rd party ACH company.

So what does that mean to you as a consumer? Not much usually.

Generally speaking companies don't know how, or do not have the resources to transfer money. It is very specialized, and for obvious reasons is highly regulated and watched. So these companies, hire a third party processor to accomplish the task of debiting a consumer (or business) for them. This is extremely common, but is very confusing to the consumer, which relates to distrust and the appearance of fraud, although it is anything but.

Frequently you will see items on your bank statement from your phone company, utility, church, or on-line purchase, depending on your purchase habits. How do those items appear? You, the consumer, agree to pay the bill electronically (although not necessarily over the web), and the data for the debit of your account is processed by the 3rd party processor. On your bank statement, the processor puts the name of the company you are paying, so it appears to be directly from them, although the processor has done the work. The same thing happens when you swipe a credit card - one or more processors handle the data and money flow.

By calling the phone number on the bank statement, you will be routed to either the company you are paying, or the third party processor. In this case you were referred to the 3rd party. Why? Because LST Financial monitors the companies (or what we term as Originators) very closely and sample a portion of the incoming calls to make SUre no fraud is occurring to protect consumers.

The LST Financial customer service department has the information to be able to identify you and get you to the right people to explain the debit. In an interest of your security, I will not disclose here publically what the purpose of the transaction was, but customer service will gladly tell you, once they know it is you they are talking to, and will gladly connect you to them.

RipOffReport is a fantastic website for finding fraudulent Originators and we strongly recommend that consumers do their research before authorizing a payment to someone they don't know. I can't speak directly to the report on RipOffReport regarding eDebitPay, except to say this: as a third-party processor, LST feels that we did everything in our power to operate lawfully and morally. eDebitPay was an Originator, and LST Financial terminated the relationship. They are no longer Originating with LST Financial and won't ever be again.

Should you have any further questions, please don't hesitate to call LST Financial customer service. If you are unsatisfied with the answer received, please DO ask for a supervisor, and continue to until you get to an Officer if necessary. You may not hear the answer you want, but what you will hear is an honest answer, and we will do everything in our power to make sure that consumers are NOT ever fraudulently debited. However, just as you can authorize a transaction to a company and regret it later, we can be fooled too, and although ever third-party processor tries very hard to prevent it, occasionally a bad Originator does get into the system.

You can use the following link to get in touch with LST Financial, and better understand third-party processors in general: http://www.lstfinancial.com