I should have listened to everyone and closed my bank account, but my payroll check was in transition and so I didn't. Here's what happened. I had a stop payment on a check I had to the Payday Loan people for $565.00. When I called my bank today the Payday loan co.had gone to my bank and somehow did a Cashiers check and somehow the check I wrote was for $565.46. I'm thinking they had to alter my check and add the 46 cents so the bank would put it through. I asked my bank for a copy of the check and also have a call in to my lawyer. Are they allowed to do this?
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Well, if its not illegal, it should be.
First, fill in the facts and report back on exactly what happened. Altering checks is a big no-no if that is in fact what happened. Sometimes, in the fine print of the loan agreement, they are authorized to electronically debit your account thus bypassing any stop payment. I.e. Its like electronic check payment. -
No electronic payment in contract
I did read the contract and it doesn't say they can do an electronic payment. When I talked to the girl at the pyday loan place she said something that they got a "Cashiers check" and did it.Comment
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Contact your bank and tell them that you did not authorize that to come out of your account. See if they can get it returned. This same thing happened to me, and my bank was able to get the money returned. Do it ASAP. I think there is something that you have to fill out stating that you did not authorizize the transaction from your account. They may be able to get it back for you. Good Luck!!!Comment
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Wouldn't believe what happened
Thursday when I called the bank I was overdrawn because of the payday loan being cashed. When I checked my balance today I was in the plus as if the money hadn't been taken out. The bank was supposed to send me a copy of the check but haven't received it yet.Comment
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