Collection agency taking more money than agreed.

[rtcolli]

Hello and thank you in advance,

I entered into an agreement with Accelerated Financial to repay a debt. The agreement was for $100 a month to be taken out of my bank account on the 13th of each month. This started in September of 2013 and I was told that they would send me a letter stating this agreement. I never received the letter and I noticed that they had been taking the money out of my bank earlier every month until I called them in march of 2014 to ask why I had not received my letter and why they are taking money out early. I did receive a letter via email that day, but they changed the due date to the 28th of the month and took another payment from my bank which made 2 payments in March. They have taken the money out earlier every month since and have collected 13 payments when it should be only 11. So I would like to know what if anything I can do to get them to stop taking money earlier every month.

[cv91915]

Does the agreement require you to let them automatically debit your checking account?

[JunkBuyersWorstNightmare]

This is why we do not pay CAs. 100% will lie 100% of the time.

[rtcolli]

It is stated in the agreement for them to take it from my bank account on the 28th of every month.

[Momof5]

NEVER give a CA access to your checking account!

[katesthename]

I'd consider closing that checking account and getting another. Don't give out the new information once you do that.

[JunkBuyersWorstNightmare]

I'd consider closing that checking account and getting another. Don't give out the new information once you do that.

 

+100.

[cv91915]

What did your bank tell you when you reported the unauthorized (early) transactions to them?

[rtcolli]

The bank tells me to talk to the CA as the payments are processed automatically when they are submitted.

[FXguy]

learned this mistake the hard way about 25 years ago. They said it would be post-dated- it wasn't and my account went negative with bounced checks. They didn't care. In the future- I would tell them you don't use banks or credit unions, you just use money orders and keep your money in a safe Yeah- I would close my account and move to another bank

[chugs102]

close your accounts.

 

If you have the agreement in writing, ask for your money back. If they refuse, sue them for fun. If there is no written agreement, you're out of luck. Chalk it up as a dumb mistake.

[rtcolli]

After doing some research aren't they at the very least violating #4 on this list?

 

15 USCS § 1692f

§ 1692f. Unfair practices

 

A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section:

 

(1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.

 

(2) The acceptance by a debt collector from any person of a check or other payment instrument postdated by more than five days unless such person is notified in writing of the debt collectors intent to deposit such check or instrument not more than ten nor less than three business days prior to such deposit.

 

(3) The solicitation by a debt collector of any postdated check or other postdated payment instrument for the purpose of threatening or instituting criminal prosecution.

 

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument.

[gmsgvs]

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument

 

Yes they are. I was just looking at that today on the FTC website. I would report them to the CFPB and to your states AG.

[Qasybusdriver]

A ca must send you a letter by law in writing 5 days PRIOR to depositing your ( even EFT,)postdated check.BEFORE EVERY payment!! I found this in the UCC's .But I dont know how it would be sued under or with ,maybe FTC and AG and CFPB

This happened to me and I had a verbal agreement. But I found out they were taking interest they couldnt collect.

First I would send a letter to CA asking for a full accounting of this debt,How your payments were being applied ,so you can verify their info with yours, making sure it matches your records.

Get their check info from your bank, Get copy of it. Give your bank a letter stating they are not to process anymore debits or EFT's from this CA ( and account number},on your account.Talk to your fraud dept.about what they are trying to do or doing.Bank of America was fully very good in assisting me with this and I did not have to pay any fees, nor did I have to close my acct.

Then in the same letter to CA that you asked for an accounting from inception of payments, Start your letter with THIS IS NOT A REFUSAL TO PAY ,state your issue with them and point out what their violating ,AND because of this EXACT reason that they are to cease using your checking account as current method of remitting any future payments ,and any and all future payments will be submitted via USPS money order or you could get a prepaid Debit card. You are protecting yourself. And make copies of EVERYTHING and send to FTC, CFPB and your AG.Maybe your bank and local BBB.That way you are only amending the way its paid, nothing else. Unless you find a error in their accounting that doesnt match yours,Ask them that since they have collected 2 months ahead ,if you can remit payment in 2 months ,Cant hurt to ask, its only fair.

Fortunetly the CA of mine was never heard from again,but now they have sic'd some new JDB;s big bad lawyers to finish collecting the remainder of my debt 3 years later.

Gee I would have continued to paid them, BUT they didnt want to play by the law and went away.Now the new JDB lawyers have come to play, and their accounting STILL does not match mine.

[gmsgvs]

rtcolli, are they charging you a separate fee every payment as well? That would be a big no no as well if they are.

[JunkBuyersWorstNightmare]

100% of collectors will lie 100% of the time.

[rtcolli]

(4) Depositing or threatening to deposit any postdated check or other postdated payment instrument prior to the date on such check or instrument

 

Yes they are. I was just looking at that today on the FTC website. I would report them to the CFPB and to your states AG.

 

 

Thank You! I just finished filing a complaint with CFPB and will do the same with the AG.

[rtcolli]

A ca must send you a letter by law in writing 5 days PRIOR to depositing your ( even EFT,)postdated check.BEFORE EVERY payment!! I found this in the UCC's .But I dont know how it would be sued under or with ,maybe FTC and AG and CFPB

This happened to me and I had a verbal agreement. But I found out they were taking interest they couldnt collect.

First I would send a letter to CA asking for a full accounting of this debt,How your payments were being applied ,so you can verify their info with yours, making sure it matches your records.

Get their check info from your bank, Get copy of it. Give your bank a letter stating they are not to process anymore debits or EFT's from this CA ( and account number},on your account.Talk to your fraud dept.about what they are trying to do or doing.Bank of America was fully very good in assisting me with this and I did not have to pay any fees, nor did I have to close my acct.

Then in the same letter to CA that you asked for an accounting from inception of payments, Start your letter with THIS IS NOT A REFUSAL TO PAY ,state your issue with them and point out what their violating ,AND because of this EXACT reason that they are to cease using your checking account as current method of remitting any future payments ,and any and all future payments will be submitted via USPS money order or you could get a prepaid Debit card. You are protecting yourself. And make copies of EVERYTHING and send to FTC, CFPB and your AG.Maybe your bank and local BBB.That way you are only amending the way its paid, nothing else. Unless you find a error in their accounting that doesnt match yours,Ask them that since they have collected 2 months ahead ,if you can remit payment in 2 months ,Cant hurt to ask, its only fair.

Fortunetly the CA of mine was never heard from again,but now they have sic'd some new JDB;s big bad lawyers to finish collecting the remainder of my debt 3 years later.

Gee I would have continued to paid them, BUT they didnt want to play by the law and went away.Now the new JDB lawyers have come to play, and their accounting STILL does not match mine.

Thank You this is great information and I will set it in motion.

[rtcolli]

rtcolli, are they charging you a separate fee every payment as well? That would be a big no no as well if they are.

No that is about the only thing they are doing correct - not charging a fee.