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Old 12-23-2011, 06:27 AM   #1
Yamoto
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Default Stop payment didn't work...

So we have been dealing with a seemingly fraudulent life insurance company for a few months. She signed up because her hair dresser association apparently affiliated with this company and said how great they were. Only problem is every phone number leads to a machine saying they will call you back within 24 hours. Of course they never do. It is 100% impossible to get ahold of a person. We tried to cancel twice, but to no avail.

This month I thought the best option was a stop payment. The funds were to come out over night tonight so I went to the bank Monday. They issued a SP on the account that had been drawing the funds. I check just now to make sure my pay was deposited and they let the payment go through.

The bank doesn't open for several more hours but I have had a miserable 3 days and I am absolutely fuming over this. How can a SP not work? It worked well enough for them to charge me a fee for it, but not well enough to work. They had the name of the company and everything who had been drawing the money for 6 months.

After the last few days I am so ridiculously mad right now. I had plans for the extra cash too which kind of pisses me off.
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Old 12-23-2011, 06:40 AM   #2
01Z06 Black
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Close the account and open a new one. That is the sure way to stop it.
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Old 12-23-2011, 06:53 AM   #3
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Quote:
Originally Posted by 01Z06 Black View Post
Close the account and open a new one. That is the sure way to stop it.


And when you do, expect the insurance company to all of a sudden 'return' your call.
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Old 12-23-2011, 06:55 AM   #4
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That sucks. I agree with closing the account as a last resort. I learned the same kind of lesson years ago and now I never allow any company to make withdraws from any of my accounts. It may take a few extra mouse clicks each month but I handle all payments as a push from me, not a pull from a vendor.
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Old 12-23-2011, 06:58 AM   #5
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Did they send it through for a slightly different amount?


I had this happen about 10 years ago- I put a stop payment on it and the bastage company then submitted it for 3 cents less and it wasn't blocked.

Took 6 months to get my money back
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Old 12-23-2011, 07:44 AM   #6
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Oh boy.............
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Old 12-23-2011, 08:28 AM   #7
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Quote:
Originally Posted by 01Z06 Black View Post
Close the account and open a new one. That is the sure way to stop it.
Yep, I've done it with 2 of my credit cards and a bank account. I've heard stories on financial talk shows where people had to open an account at a different bank to make it stop completely. You may want to do this as much as it might suck.
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Old 12-23-2011, 08:30 AM   #8
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Did they send it through for a slightly different amount?


I had this happen about 10 years ago- I put a stop payment on it and the bastage company then submitted it for 3 cents less and it wasn't blocked.

Took 6 months to get my money back
This is what I don't get, the lady even said they would put it in for any amount and just block the name, just in case. The payment was exactly the same amount anyway, but I just don't see why it didn't work. The bank opens in half an hour, and I will be there right at open to hopefully see it we can reverse it or something. It is a supposedly large insurance company, but nobody, ever answers a phone or returns a message.

It's "American Income Life" For the record. We first had problems 3 months after the start, she was injured and spent 2 nights in the hospital so we figured we were paying for it, might as well take advantage of their "over night visit" policy which would have paid a daily rate of $200 I believe. Submitted it online, but nobody ever called or emailed, so we called, got a machine and left a message, which was not returned either. After that we decided to cancel...and you can see how well that has worked. 6 months later...
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Old 12-23-2011, 08:31 AM   #9
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Put a gun in your mouth pull the trigger and see if they pay on the policy.
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Old 12-23-2011, 08:32 AM   #10
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Quote:
Originally Posted by Licit View Post
Yep, I've done it with 2 of my credit cards and a bank account. I've heard stories on financial talk shows where people had to open an account at a different bank to make it stop completely. You may want to do this as much as it might suck.
I will if need be, I do have another account at a different bank, it would just be a PITA to change over everything. My car insurance, house insurance, student loans, and my tax refund are all set to go to that account.

I just don't see why the SP wouldn't have worked, but hopefully when I head to the bank in a few, we can sort it out. Merry Christmas to me.
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Old 12-23-2011, 08:35 AM   #11
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Make sure you get your money back from the bank for the stop payment. They will resist, but be persistent. It did not work...That's the banks fault....not yours.

Also, file a claim with the bank requesting the money that they sent to the insurance agency back. It takes some time, but they will refund it...once again, be persistent. Remember, the squeaky wheel gets the grease...Be a pain in their ***.

Remove your money from the bank you currently have, and walk across the street to another. Banks suck.
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Old 12-23-2011, 08:53 AM   #12
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Call them and leave a message saying you want to increase your insurance, bet they return that call and then you have a person to speak with! I also have a small policy with them that I have never used and now I think I will "attempt" to cancel them as well.
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Old 12-23-2011, 08:55 AM   #13
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Quote:
Originally Posted by ruvette? View Post
That sucks. I agree with closing the account as a last resort. I learned the same kind of lesson years ago and now I never allow any company to make withdraws from any of my accounts. It may take a few extra mouse clicks each month but I handle all payments as a push from me, not a pull from a vendor.
you control the situations, no one else!
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Old 12-23-2011, 08:56 AM   #14
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Quote:
Originally Posted by Yamoto View Post
I will if need be, I do have another account at a different bank, it would just be a PITA to change over everything. My car insurance, house insurance, student loans, and my tax refund are all set to go to that account.

I just don't see why the SP wouldn't have worked, but hopefully when I head to the bank in a few, we can sort it out. Merry Christmas to me.
That may be part of the problem

Never use Automatic debt/ payments. YOU should push the PAY NOW button.
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Old 12-23-2011, 08:58 AM   #15
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Quote:
Originally Posted by ruvette? View Post
That sucks. I agree with closing the account as a last resort. I learned the same kind of lesson years ago and now I never allow any company to make withdraws from any of my accounts. It may take a few extra mouse clicks each month but I handle all payments as a push from me, not a pull from a vendor.
Setting up automatic payments may be easy, but if you use your banks "bill pay" feature to make payments yourself, it will stop this sort of stuff. Sure, it may take 15-20 minutes each month to run the bill pay process, but you are in control of disbursing monies from your account.

You may have to make some payments a few day prior to a due date as some bill pay transactions are not done on the same day or even within a business day or two. The time frame for a payment to go through will be shown at a point in the bill pay process. ASlso, many banks will guarantee payments to arrive by a certain date from when you create an electronic payment, so watch for that too.
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Old 12-23-2011, 09:09 AM   #16
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So we have been dealing with a seemingly fraudulent life insurance company for a few months.
Now there's a wasted breath if I ever heard of one.
Name an insurance company that is NOT fraudulent...

Life Insurance: The only insurance where they are betting you do not die, YOU are working your butt off to insure you dont die, AND you are paying them that it doesn't happen. Never had it, never will have it.
In the history of the world, and humans- the biggest scandal of all time...
and you think they'll call you back...
I would bet the phones are in f'king India as well.....
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Old 12-23-2011, 09:27 AM   #17
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Bank did a reversal and said what often happens is that they see a SP so they try it with a slightly different account name and sometimes it goes through, in this case, apparently it did. Who knows, but I have the money back and closed the account. I like doing business with them, and they refunded the SP fee as well, so hopefully all is good. I didn't want to just leave as they have generally treated me well and I had the account for 14 years.
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Old 12-23-2011, 09:37 AM   #18
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yea that doesn't work or they don't work like they use to. I issued a stop order on a opted in thing Electronic Boutique did to me. The bank said they could only do a stop order for two months. I guess they think that if the place doesn't get their money in 60 days they will just stop. Well I think they knew that and would just keep going. I bought stuff on line and they enter you into this reward program after 30 days if you don't opt out they nail you $20 a pop a month. Problem is they never give you the details on how to opt out You call and you never get anyone I sent an email and they never tell you how to get out of it. I finally found a guy that did it on a forum and he told you exactly what to do. You had to get a hold of your account number that you never got, so you had to go on line and request it. They never mentioned anything about that, then once you got that you had to go to another website to login to your account, go to the tools menu, account settings, and on the very bottom in almost illegible font there was a tiny little link that said opt out. Once you did that you were out.

I would close the account and do another one, less headache really.
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Old 12-23-2011, 09:45 AM   #19
DON M
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Every state has an Insurance Commission for situations like this...
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Old 12-23-2011, 10:25 AM   #20
angel71rs
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Wow, 59 pages worth of scammage:

http://scam.com/showthread.php?t=3245

OP, good luck with your troubles.
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Old 12-23-2011, 10:25 AM
 
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