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Stop ACH transactions

Date: Thu, 07/30/2009 - 12:23

Submitted by jrubio
on Thu, 07/30/2009 - 12:23

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Total Replies: 4


I have five pay day loans that I want to try and use Town and Country to consolidate for me. I recently closed my bank account, but it was reopened when the ACH transactions were sent through from my pay day loan places. Now I have overdraft fees from bank. How do make sure this account gets closed?
Also, has anyone worked with T&C? Are they a good company to work with. I'm just afraid that they won't be able to get a hold of my pay day loan companies and the loan companies will continue to try and get money out of my account.


Quote:

How do make sure this account gets closed?


Did you try speaking with the Branch manager to get a block on the account after it was closed? Some banks have a "force open" policy which reopens the closed account within a certain timeframe. Go back to the bank and speak with the BM.

If you want to find out more about T&C just search them in the box above.

What are the names of the PDL companies, amounts borrowed and paid? Also list wether they are strorefront or internet loans.


lrhall41

Submitted by Cool_Abyss on Thu, 07/30/2009 - 14:10

( Posts: 2936 | Credits: )


My thoughts on consolidation companies:

You are already in the hole with PDLs that you cant afford to pay. Why? would you want to now pay a consolidation company (usually a percentage of the total amount owed) for something you can do for yourself. The consolidation companies want their fees upfront before they even begin to work on settlements with the PDL companies. Thus, putting all the PDLs in severe default.


lrhall41

Submitted by fatcat on Fri, 07/31/2009 - 06:38

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It's a big risk to hire DC company to handle internet loans, especially if they are illegal lenders. If you are dead set on hiring a company to handle your debts I would advise you to find out if these lenders are licensed to lend in your state first. If you find that some or most of them aren't, don't count on them negotiating with a debt company, I'm not saying it's not possible at all, but the chances are slim an unlicensed lender will negotiate, hence a waste of money.


lrhall41

Submitted by Shazzers on Fri, 07/31/2009 - 07:58

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