We have auto payments and want them stopped!

[Toby34]

Am I correct in reading that all we need to do to stop this is to:

Open a new bank account first.
Close the current account.

Is it recommended to send them a letter? Or is that just to be nice?

We can't afford these auto payments anymore...our account is now -$900! Because of this one payment that was returned, then sent through again. We didn't realized they woudl try a second time and we paid some other bills with the money, then they sent it through a 2nd time, this time they paid it...so we are now -$900 in our account.

My wife talked to BOA about stopping it, but she is a softie and wasn't able to stand up to them...just got frusterated adn got off the phone with them. Unfortunately this card is hers, not mine so they won't talk to me.


Can the CC's do anything to us (like sue us) if we just clsoe the bank account these are to come out of?

Thanks.

[lrprn]

Am I correct in reading that all we need to do to stop this is to: Open a new bank account first. Close the current account.
Is it recommended to send them a letter? Or is that just to be nice?

If you want to stop paying your car payments now, then it's best to indicate that in writing. Just stopping the payments by closing the account is not the best way to go. Are you going to be able to get by without both of your cars? Or do you intend to surrender just one and keep the other?

Can the CC's do anything to us (like sue us) if we just clsoe the bank account these are to come out of?

As soon as the payments stop coming because the account is closed, creditors start by calling you themselves to pay up. With cars, after two consecutive months of non-payment, they typically call the repo man and start court proceedings to get a judgment against you. With credit cards, the original creditors contact you for several months themselves to try to get you to pay up, then usually sell your debt to a collector who tries for several more months to get you to pay. If you have assets, then eventually the creditor or the collecor will head to court to get a judgment.

Are you still thinking over filing?

[follie]

Are these car payments or just payments for something automatically drawn out of your account? I'm confused.

Since you got good advice by lrprn if it's a car payment, I won't repeat anything.

If it's just something that is automatically deducting from your account (I got in trouble when payday loans did that to me), then yes, close that account and open another at a different bank. At least, that's what I did before I filed.

[Toby34]

Sorry about the confusion...these are "automatic credit card payments" not car payments.

sorry....

I am calling a attorney this week to setup a first consolut meeting.