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04-25-2016, 12:59 PM #1
- Join Date
- Jul 2014
- Posts
- 1,746
Payment Overpulls
OK, I'm sick of this now. Why are over 50% of our clients who don't renew calling us about extra payments being pulled at the termination of contract? It was a sporadic issue, now becoming commonplace (especially with the bottom-feeding lending houses). I've heard every excuse in the book from ISO reps, all of which I almost fell out of my chair laughing at, and still have no concrete answer as to why ACH software is programmed to pull a set amount of payments, yet happens to "malfunction" all the time, always in the lender's favor.
Anyone else experiencing this?
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