Help in South Carolina
Date: Wed, 07/22/2009 - 12:07
I have been reading this forum for a few days. I have tried to considlate the 3 Online PDLS I have now into one personal loan and I can not get a loan for this. I had surgery a few months back and got 1 loan to pay bills, then another to pay that one off, endless cycle. I have managed to pay off 3, still have three, but I need to pay power, insurance, food, etc...out of my check first, then pay these PDLS a little at a time.
But, I finally closed my bank account today and opened another one at a total different bank. I want to repay back what I borrowed, but I need more time than the 4 extended equal payment plan that Check n go has offers, 1800899Cash loan is okay on payments, still owe $150 on a $200 loan that is costing me $475, it is set up over ten payments and next payment is only $48. Arrowheadinvestments - I owe $520 total. I have not contacted any of them yet, plan on doing that no later than Friday to inform them account is closed - What do I tell them when they ask why account is closed?
Do I send the Ach revoke letters to each and to the bank that I just closed the account at? Any advice please, I just want them paid and I will never do this again !!
You don't need to send the revoke letters to the bank, but it wo
You don't need to send the revoke letters to the bank, but it would'nt hurt if you want to. If your account is closed did you double check with them that nothing will push it back open?
As for what to tell the pdl as far as why your bank account is closed just tell them the bank closed it. Thats the truth-the bank closed it because you asked them to. The ones that are illegal send the letter letting them know you'll be paying only the principal-if you have any that are legal let them know you intend to pay but are'nt able to at the moment. You can ask for a payment arrangement or you can propose one to them and see what they say.
FYI, at my old bank when I closed my account, I was informed it
FYI, at my old bank when I closed my account, I was informed it was a "pending closed account." I asked what the heck does that mean. This was the explaination, when you close your account, it will be pending until 14 business days pass without activity. They do this to safeguard in case you have any outstanding transactions you may have forgotten to log. After the 14 business days it went from pending-closed to closed. My new bank does not have that policy....closed means closed, but it is worth checking into.
To safely cover your butt, you should give the bank manager at your old bank a revoke "all" ach transactions letter. That way none of the PDLs can force something through.
