How to Stop a Collections Agency From Taking Money Out of Your Account

Regular withdrawals from your checking account by a collection agency could be a series of payments you authorized in advance. Typically, the payments are set up as automatic payments called Automated Clearing House (ACH) debits. Money is electronically pulled from your account on dates you agreed to and sent to the debt collector. Stopping the payments can be tricky, but it is possible.

Instructions

1

Call the debt collector and ask about your remaining payment schedule. Get the dates that the money is scheduled to be pulled from your account along with the amounts.

2

Check your bank statements for previous withdrawals from your account by the debt collector. Note the company name on the transaction.

3

Contact your bank. Ask to fill out a form permanently stopping a recurring ACH debit activity. Some banks call this a "revocation of authority." Turn in the form to your bank or credit union at least three days before the next scheduled debit. Once the form is in place the bank will not honor the ACH requests. However, you may be charged a fee, usually around $30, each time a payment is stopped.