123MONEYHELP nightmare in GA
I have the same situation w/this company 123moneyhelp as someone in another thread. I commented on that thread and started a new one also.. wasn't sure which to do.
I have sent 123MONEYHELP the revocation of ACH/ and wage assignment twice as stated here:
Dear Lender,
It has come to my attention that this installment loan is prohibited in my state. As also stated in your disclosure, "Our loans are governed by Delaware State law. We are not licensed, registered, or authorized to do business in any other state." Therefore, the loan contract that I have with you, according to my state’s laws, is not enforceable. Although I am not required to do so, I am willing to repay the principal balance of the loan. To date, I have received $300 and have made 3 “renewal” payments of $376.16 leaving a balance due of $0 and an over-payment @76.16.
At this time I am revoking ACH authorization. You are no longer authorized to withdraw payments from my checking account. I am also revoking any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.
Please contact me via e-mail or postal mail to set up re-payment arrangements as outlined above.
and they have still taken the money out of my account. I plan to dispute the charges w/my back, but I don't have the funds to do a stop payment right now as it cost like $30 or something. I even received a response from the first time I sent the revocation and got the following response:
Ms Smith
This is nice but keep in mind that when you signed our documents and received our money you agreed to the terms and conditions which were put forth. With that being said a total payment in the amount of $201.92 is due immedtiately or per your documents #13 we will proceed with further collection activity
After I called and was told a totally different amount that would need to be paid and was also informed that they are not a payday lender, that this is an installment loan which I agreed to, but their website reads differently in different sections.
What should I do next? I really can not afford a garnishment, or can they even do that?
BTW.. I'm in GA
NO
this is an illegal lender.you needed to take the ACH revocation letter you gave to 123MONEYHELP,and seen a bank manager who would have not honored the ACH.you don't need a stop payment as those don't work anyway.do that asap see a bank manager with the ACH revocation letter you gave this illegal lender.they should reverse the debit and make sure nothing else from them goes through.btw an illegal can't garnish without a court order so they are trying to scare you.hardly what a legal lender would do.
WAGE ASSIGNMENT
Ok, thanks .. I will proceed as I planned. I will go to the bank and let them know that the ACH was cancelled. I did look up the rules on ACH and I found that one of the dispute reasons that qualify is if you have cancelled ACH w/the merchant. I'm debating if I should still close the account and start a new. I am also trying to resolve an issue w/Delbert, formerly Western Sky, and they have my account info. Thank you for your help!!!
well
you can close that account,and open one with the same bank not linked to the current account.the manager can handle that as well.it's your call,but that is the best option.
OK I went to the back and
OK I went to the back and they submitted the dispute for the charges, but the lady didn't seem too hopeful. I explained to her that the permission to cancel this was submitted to them 3 days before the first of the 2 unauthorized ACH withdrawls. She did suggest that I open another account and I need to go up there today to finish that up. Unfortunately, I have to leave the old account open until the dispute is resolved which can take 10 days... to be continued ... thanks again for you help
okay
you did see a manager right?if so then when you go back make sure the new acct is not linked to the old one,and now the ACH revocation must be honored.meaning any debits must be reversed no ifs ands,or buts.
OK I just confirmed that the
OK I just confirmed that the accounts are not linked... Thanks again for all your help.