Here is how you can stop an automatic debit

Posted at 5:27 PM, Jun 04, 2019
and last updated 2019-06-04 18:27:31-04

Getting a company to stop debiting your account for a product or service can be a frustrating experience.

Sometimes it is a misunderstanding or a timing issue on getting these stopped. But, we have also heard about companies that ignore cancellation requests or who make it very difficult to cancel. If you want to stop these debits, here is what you should do:

Call and write the company at least a week in advance, telling them that you are revoking your authorization to have funds debited from your account. If you no longer want the products or services, make sure to that tell the company by phone and in writing that you wish to cancel. Although you may want to trust that the company will stop the debits immediately, it is a good idea to contact your bank by phone and in writing to let them know that you have revoked this authorization. You can also do a stop payment order for an automatic deduction, but there could be a fee to do this.

There are some circumstances for which you may not be able to stop a debit. If you owe money, and a creditor or government agency was able to get a judgment against you, they may be able to garnish your account and continue to debit funds.

If you need help or more information about stopping a debit, the consumer financial protection bureau can help. In addition to being a source for filing a complaint, they have some great information and sample letters on their website to help you with this process.