IL payday loan - stop payment on EFT questions
Date: Mon, 08/29/2011 - 12:25
I have an IL Check N Go payday loan due to be taken out of my checking account this Thu (9-1) by EFT.
Allowing the EFT to go through is going to throw me into a huge financial mess, so I called Check N Go to see if I could possibly make other arrangements - they told me the would only work with me on an alternative payment plan if the loan went into default and they will not stop the EFT on their end. I can & do intent to pay the debt back, I just can't do it full on the 9-1.
I called my bank and put a stop payment on the EFT and plan to call Check N Go first thing Thu to work something out with them.
Can I get into legal trouble by putting a stop payment on the EFT? Will they work with me - what can I expect from them? Is there anything else I should do to protect myself?
Allowing the EFT to go through is going to throw me into a huge financial mess, so I called Check N Go to see if I could possibly make other arrangements - they told me the would only work with me on an alternative payment plan if the loan went into default and they will not stop the EFT on their end. I can & do intent to pay the debt back, I just can't do it full on the 9-1.
I called my bank and put a stop payment on the EFT and plan to call Check N Go first thing Thu to work something out with them.
Can I get into legal trouble by putting a stop payment on the EFT? Will they work with me - what can I expect from them? Is there anything else I should do to protect myself?
What you need to do is contact CNG's corporate offices (via emai
What you need to do is contact CNG's corporate offices (via email on their website or their toll free number) and revoke your authorization for the ACH transaction.
Tell them you are revoking ACH permission so that your account will automatically go to collections and you can set up payment arrangements.
You shouldn't need to pay for a stop payment at your bank. And they don't always work anyway because the amounts can vary (if you owe $250 and they put through 2 debits, one for $100 and one for $150 for instance).
CNG's corporate offices are generally pretty good to work with. Get in touch with them.