Here’s the three (3) step process:

1. Revoke Authorization

Stop automatic payments by telling the company (Sample letter)  and your bank or credit union (Sample letter) that you are taking away your permission.  Do this orally and in writing.

2. Give your bank or credit union a “stop payment order”

Give them an oral (e.g. by telephone) and written “stop payment order”   instructing them to stop allowing automatic payments.  “Stop Payment Order.”

Issue the oral Stop Payment Order at least three business days before the payment is scheduled and the written Stop Payment Order within 14 days.

3.Monitor your accounts

Tell your bank or credit union right away if you see a payment that you did not allow (authorize) or a payment that was made after you revoked authorization. You can get your money back for any unauthorized transfers from your account, as long as you tell your bank in time. Click here for a sample letter.

CAUTION: Stopping payments doesn’t end your contract!

If you signed a contract you have an ongoing obligation. The automatic payment may have ended but you still must pay or risk being sued.

Contact Merritt Law Office, P.A.  if your bank or the company won’t stop automatic payments or you can also submit a complaint to the CFPB online.