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Payday Installment Loans - Revoking ach success?

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Hello, I have some Payday installment loan debt that is drowning me financially and I cannot keep up with them any longer. I am trying to get enrolled in the Debt settlement program that is offered from the law group that the chat on this website directs me to, but I can't afford to do that until I can get these loans to stop debiting my monthly payments.

Long story short, can't yet close the bank account I have (that these loans take payments out of) because I paid my rent for two months with a personal check, and have to wait for those checks to be cashed before I can close the account.

Live in California, Loans with:
CheckNGo - $2800
CashNetUSA - $2300
NetCredit - $2300
LoanMe - $5500
Opploans - $2300
Avio - $2200
Jora - $2350

My question is, has anyone had success in only revoking the ACH from these companies by mail? Or, should I expect them to use a name like "CashNetUSA2" to try and debit my bank account for the full amount after sending them a revoke ach letter? I approached my bank, and they told me that even stopping payment/blocking them after revoking the ACH they might still try to debit the account with a slightly alternate name. I can't afford to have my rent check bounce due to that happening.

Any input on personal experience with this is appreciated.




Like I said in the first post, I already told the bank something similar and they were not very helpful. I know they have to stop the withdrawal by law If I tell them to. But when dealing with multiple companies I have read horror stories about them trying to debit the account multiple times and with different names.
What I am asking is if the payday loans listed typically will honor an order to revoke the ach, or will they continue trying to debit the account?

Sub: #1 posted on Thu, 12/19/2019 - 08:31

Its Me Its Me

(Posts: 5 | Credits: )

Have you submitted a written application to the lender and a copy to the bank to revoke ACH authorization? If required, you can close the bank account too.

Sub: #2 posted on Fri, 12/20/2019 - 00:33

Mabelle Page Mabelle Page

(Posts: 293 | Credits: )

Yes Mabelle. And as I posted in my first post I cannot yet close the bank account which is why I am asking the question if following the steps to revoke ach typically is enough, or do these companies still try and debit your account after submitting a written letter to them with certified mail to revoke ach.

But I am beginning to think that noone actually reads the questions that people post on here based on the replies I have gotten

Sub: #3 posted on Fri, 12/20/2019 - 08:37

Its Me Its Me

(Posts: 5 | Credits: )

Go to your bank and meet them in person. Ask them to close your bank account.

Sub: #4 posted on Sat, 12/21/2019 - 04:03

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

Hello, once again. I can't. I am waiting for the checks to clear that I paid my rent with. My landlord still hasn't cashed a check I wrote in August from my bank account. I can't close my bank account, those checks will bounce.

Sub: #5 posted on Sat, 12/21/2019 - 21:24

Its Me Its Me

(Posts: 5 | Credits: )

What you're saying is correct. Payday loan companies do try to debit accounts with different names several times. Payday loan companies are less likely to honor the order to revoke the ACH, which is illegal though. They may try to debit the account again. Closing your bank account is not an option right now. I know that.

You can do one thing. You can sit with your bank branch manager and tell him about the Regulation E, which is stated below:

12 C.F.R. ?? 205.10 (c) Consumer's right to stop payment
(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.

They are required by law to honor your request to stop the transfer.

Sub: #6 posted on Thu, 12/26/2019 - 23:12

Nick Jonas Nick Jonas

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Why don't you do one thing? Why don't you ask the bank to stop any kind of auto debits by anyone from your bank account? There is yet another thing I need to tell you. Your bank has to stop payment on an automatic withdrawal if you notify the bank within 3 business day period. This is enough to stop the transfer.

Sub: #7 posted on Thu, 12/26/2019 - 23:17

Nick Jonas Nick Jonas

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You have to convince your bank to stop any auto payments.

Sub: #8 posted on Fri, 12/27/2019 - 05:21

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

I was able to get the checks cashed and closed the bank account. Opened a new account so the situation should be remedied. Working with Oak View Law Group to hopefully get these loans settled in the future.

Sub: #9 posted on Tue, 01/07/2020 - 10:13

Its Me Its Me

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