Responding to this particular call...

[deepin]

Have a signature loan that was being paid monthly with an automatic withdrawl from my checking account ...

Called creditor to discontinue this automatic withdrawl and was told they would not stop the withdrawl - unless I supplied another checking account for payments.

Bank said I could put a stop payment on this withdrawl - I elected to close the account.

Anticipating calls from the creditor about this soon ...

Probably over thinking this -- but wondering if I am obligated to offer an explanation to the creditor as to why I closed the account ??

I'm sure they will ask when they see the payment was rejected.

[Flamingo]

If you pull out the paperwork you signed when you obtained the loan, it probably states somewhere, and you agreed, that they would automatically deduct payments from your checking account and it could be a requirement also for the loan. That is probably why they would not stop the withdrawals from your checking account and why they wanted another bank account from which to draw payments.

You will start getting calls and letters about the situation as anyone else would that stopped payments on any account. You are under no obligation to tell them anything unless you feel you personally have to.

[deepin]

Understood ... I'm just trying to prepare myself for calls about this with a response beyond my usual 'I can not make a payment at this time'.

[catleg]

Amex does this too. Once you have pay-by-computer enabled with your online Amex account you can never delete the "last" bank account.

Amex is such a bunch of liars in general. I have a corp Amex thru my job, for a couple of months we get these emails saying, you better sign up for online statements, paper bills are being discontined as of such-and-such date. Finally get a paper notice in the mail saying the date has finally come but oh-by-the-way you can continue getting paper statements by writing to the account servicing team for our company at Amex. I kind of thought that might not be a legal move under the Fair Credit Billing Act.

[catleg]

I'm not sure what devious purpose this may someday serve but here is list of valid test numbers for various credit cards:Test Credit Card Numbers for Paypal