Creditors and Bankruptcy/credit card auto pmnts

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Expert: Michael Brotherton - 1/14/2009


Question
Hi Mr. Brotherton,
We have a couple of automatic fees each month on our creditcard, and we would like to eliminate those expenses.
I've heard (first hand) that in the case with some companies, a phone call (or a letter) will not take care of the matter.  They purportedly tend to insist, making it very difficult, if not impossible to cancel when it's requested.  
Is there such a thing as maybe telling the credit card company to block payment from those vendors?  Will that run a person into any trouble?
Thanks

Answer
You should send a letter to the vender and the cc company advising them to cancel all future transactions. Send the letter by certified mail, return receipt requested to both companies. Once they receive the certified mail you have verification that you cancelled the auto payments. Make note in your letter that if they continue to auto pay you will be fling a comlaint with the Federal Trade Commission and your state Attorney General. This should do the trick.

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Michael Brotherton

Expertise

Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. We are well versed in Loss Mitigation practices and the legal collection process. We have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).

Experience

28 years in financial services industry as a loan officer and debt collctor. Developed bankruptcy and loss prevention manual for large finance company for manager training. 15 years as a debt counselor and consumer advocate.

Education/Credentials
Veterans sponsored OJT Manager Candidate Scool for AVCO Financial Services, Keystones to Management for ITT Financial Services, Certified Finance Management for Associates Financial Services.

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