PLZ HELP
Date: Wed, 07/08/2009 - 13:26
My bank froze my checking account due to some unauthorized ach transactions. It is frozen to all transactions, debit or credit.
I did not close my account. (against advice from my bank)
I tried to call the PDL lenders and explain what had happened and revoke the ach transaction agreement with them. They told me that I could not do that. And also that I could not change my payment method to something like a money order, etc.
I thought under federal law it was my right to revoke any ach transactions.
My questions is now what will happen when the PDL companies try and do the ach transactions when my payment is due. It is not on a closed account and it is not NSFs???
I did not close my account. (against advice from my bank)
I tried to call the PDL lenders and explain what had happened and revoke the ach transaction agreement with them. They told me that I could not do that. And also that I could not change my payment method to something like a money order, etc.
I thought under federal law it was my right to revoke any ach transactions.
My questions is now what will happen when the PDL companies try and do the ach transactions when my payment is due. It is not on a closed account and it is not NSFs???
Are the payday loan companies legal in your state? If they are i
Are the payday loan companies legal in your state? If they are illegal, then you can revoke the ACH transactions to stop them debiting money from your account. This is because you are only responsible to pay only the principle amount borrowed to the illegal creditors.
Can you tell us the name of the PDLs and the state you live in?
