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I got into the whole payday loan mess. My bank decided last week to close our account due to too many overdrafts. They closed it on Tuesday, but still took the check that was direct deposited on Friday.Can the do that? They didn't even bother to tell us, they just closed it. I am glad it is closed, because the loan companies can no longer get to our money, but now I have no way to cash or deposit checks. I don't know if I can even open a new account anywhere. Anyone have any good advice or suggestions?




Did your bank warn you first about closing your account due to overdrafts? Was it in the negative for a long time?

Sub: #1 posted on Sun, 02/25/2007 - 14:24

brownsugar brownsugar

(Posts: 1389 | Credits: 149.41)

What state are you from? Go to another bank right away and try to open an account. Some states have banks report you for this under your credit reporting. If you want to open one, better make it quick before they do this or you won't be able to. If they do this in your state.

Sub: #2 posted on Sun, 02/25/2007 - 14:26

fedupinpa fedupinpa

(Posts: 1511 | Credits: 224.75)

Your prior thread had a link to a list of banks that do not use chexsystems.

Yes, they can do that, and if you owe them anything, they can keep it.

Sub: #3 posted on Sun, 02/25/2007 - 14:27

Unregistered


What companies did you have loans with? If you give more information there are people here who have dealt with many different lenders who can advise you. What state are you from? What companies do you have loans with? How much is each loan for? and finally how much have you paid on each one so far. You have alot to do to clean this up but we are all here to help you and have been in your shoes.

Sub: #4 posted on Sun, 02/25/2007 - 14:29

fedupinpa fedupinpa

(Posts: 1511 | Credits: 224.75)

Your prior thread had a link to a list of banks that do not use chexsystems. Make sure you look at that list, and try banking with one of said banks.

Yes, they can do that, and if you owe/d them anything, they can keep it.

Sub: #5 posted on Sun, 02/25/2007 - 14:31

Morningstar Morningstar

(Posts: 1634 | Credits: 124.78)

Also, once you get all the information above you will want to send each company a revocation of voluntary wage assignment so they are going for your paycheck, keep a copy of this, send it certified, you may need it for your human resource department at work. They may try to take your pay, If the pdl company snuck this one in on you, you will have that covered. Most people close their bank accounts in this situation, so you are one up on them. At least now the fees stop.

Sub: #6 posted on Sun, 02/25/2007 - 14:32

fedupinpa fedupinpa

(Posts: 1511 | Credits: 224.75)

Hang in there, you may have refunds coming once you gather up all this information and post it so that forum members can reply. Alot of good people here to help you out of this mess.

Sub: #7 posted on Sun, 02/25/2007 - 14:34

fedupinpa fedupinpa

(Posts: 1511 | Credits: 224.75)

Ok, I went to that link, but it doesn't have it for my state which is Oregon. also, where do I get the revocation of voluntary wage assignment. i would like to get going on this tonight.

Sub: #8 posted on Sun, 02/25/2007 - 16:56

swoody swoody

(Posts: 103 | Credits: 44.77)

The letter would read something like:

Addy...
addy...
addy...

date

To such and such:

I hearby revoke your authorization to any and all of my wages. Should any further deductions be made, you are hereby subject to legal action.


signed,
swoody

As for the link, go to page 3, press [ctrl + F] and type "oregon" in the search box. It is about 3/4 of the way down.

Should the wage letter be inadequete, rest assured, other members can point out better copies/wording/etc...

Sub: #9 posted on Sun, 02/25/2007 - 17:06

Unregistered


Swoody--

Make sure the wage revocation letter that you give to your payroll dept covers all payday loan lenders that might attempt this. You don't have to list each company by name, just sum it up as any and all.

Sub: #10 posted on Sun, 02/25/2007 - 17:10

brownsugar brownsugar

(Posts: 1389 | Credits: 149.41)

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