Interesting information...and opinions needed
Date: Thu, 01/11/2007 - 10:42
I ended up closing the account that had the unauthorized debits from Geneva Roth. I have opened a new account in FL, so I am covered for a bank account.
I have one outstanding PDL that I have been paying right on time. However, the debits were coming out of that account. I called them (Tremont Financial) to say that I wanted to make alternate arrangements as the account was being closed. They suggested I could give them my new info and would save myself $8.95 for western union fees...I said, thank you, but no. I have yet to get the confirmation email, but its not due til next Friday anyway.
I asked them about what GR told me regarding they can hit any account that I have at any bank, whenever they want. I was told that unless you apply for another loan with them (or a sister company) they can not legally use your new banking information without your permission. For example, as I have set up my car insurance as an automatic debit, if GR gets my new info, they can't use it without my permission, but if I apply for a loan (WHY would I?) with them (or a sister company), they can use it.
My question..did I do the right thing with Tremont? I have MORE than paid back my prinipal balance (I have 2 more payments left), but don't want to leave the account open. Has anyone had any experince with them in trying to make payment arrangements..I was very clear that I intended to pay my loan in full, and was not flaking out, I just wanted to pay it through a different means.
I have one outstanding PDL that I have been paying right on time. However, the debits were coming out of that account. I called them (Tremont Financial) to say that I wanted to make alternate arrangements as the account was being closed. They suggested I could give them my new info and would save myself $8.95 for western union fees...I said, thank you, but no. I have yet to get the confirmation email, but its not due til next Friday anyway.
I asked them about what GR told me regarding they can hit any account that I have at any bank, whenever they want. I was told that unless you apply for another loan with them (or a sister company) they can not legally use your new banking information without your permission. For example, as I have set up my car insurance as an automatic debit, if GR gets my new info, they can't use it without my permission, but if I apply for a loan (WHY would I?) with them (or a sister company), they can use it.
My question..did I do the right thing with Tremont? I have MORE than paid back my prinipal balance (I have 2 more payments left), but don't want to leave the account open. Has anyone had any experince with them in trying to make payment arrangements..I was very clear that I intended to pay my loan in full, and was not flaking out, I just wanted to pay it through a different means.
Read others experiences in this thread. Be informed of the la
Read others experiences in this thread.
Be informed of the laws in your state. Few of them don't allow closing the accounts when a loan is due. But if it is ok in your state, you have done the right thing by closing your account and making payment arrangements by other means. Do the communication with the company in writing so that they don't prove your refusal to pay them back. You will have a paper track of your arrangements done.
Check the total payments done on your pdl. Give a look at the laws in your state and compare if you have paid them excessively.
