bank overdraft charges!!!
Date: Thu, 07/29/2010 - 02:12
I live in Ohio and took out an online payday loan for $300.00 through National Payday Loan which I believe is located in Illinois. How many times a day can this company send an ACH debit through my bank account? They have done it 8 times a day for two days resulting in $448.00 in overdraft fees charged by my bank. (there was a zero balance in the account) I was told they sent these through using different draft numbers and amounts for each one even though it was all for the same loan and that is how they got around it. Is this actually legal? My bank is not nice. I need to prove that they cannot do this but don't know how. Please help!
National Payday Loan is NOT a legal lender in your state, you wo
National Payday Loan is NOT a legal lender in your state, you would be better off closing that account because it will never be safe again.
Go into your bank and speak to the branch manager (no one else will do) fill out a formal dispute and ask that the funds be returned to your account, also, revoke National Payday Loan's right to debit your account any further, you have this right by law (EFTA Regulation E), as I said, close that account, there are no other options really, unless you want to compromise your personal account information. CLICK HERE to find out how to deal with illegal lenders.
