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How Can I Manage My Debt and Prevent AutoPay Withdrawals?

Question from AM: I am drowning. Thinking about just stopping payment on everything unsecured and making settlement offers as they sue me. My biggest concern is an $18k loan with LendingPoint.

It’s on AutoPay. How do I stop them from taking it out? Can/will they call my employer to attempt to collect and if so, how can I prevent that?


It sounds like you’re in a tough financial situation, but there are steps you can take to regain control.

Stopping AutoPay

To stop LendingPoint from automatically withdrawing payments from your account, you’ll need to cancel the AutoPay feature. This can usually be done through your online account or by contacting LendingPoint’s customer service directly. However, it’s important to remember that stopping payments doesn’t eliminate your debt.

Dealing with Debt Collectors

If you stop making payments, your creditors may indeed attempt to collect the debt. According to the Fair Debt Collection Practices Act (FDCPA), debt collectors can contact your employer, but only to verify your employment, or in certain other limited circumstances. They cannot reveal that you owe a debt.

To prevent debt collectors from contacting your employer:

  • Inform the debt collector in writing that you wish them to stop contacting your employer.
  • Keep a copy of this letter for your records.

Settling Your Debt

If you’re considering making settlement offers, it’s crucial to understand the potential consequences. Settling a debt for less than you owe can negatively impact your credit score.

Here are some steps to take if you’re considering debt settlement:

  • Reach out to a credit counseling agency. They can provide advice and may be able to negotiate with your creditors on your behalf.
  • Consider speaking with a bankruptcy attorney. While this is a serious step, it can provide a fresh start in some cases.
  • Research debt consolidation or personal installment loans. These can simplify your payments and potentially lower your interest rate.

Remember, it’s important to seek professional advice before making any major financial decisions.

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