Screwed up before I found this forum, HELP

[750orbust]

Before I found out about this forum Portfolio Recovery Associates called me and I answered (stupid me) and I set up payment arrangements with them on two old accounts that they now own. I was stupid and set up automatic bank drafts with them for like $55 a month on each account. During the call they offered me a settlement amount on the larger account which was $1700 and they agreed to reduce it to $900. So anyways, I've been paying them for about four or five months now and a couple of days ago I received a "payment reminder" from them in the mail that list the current balance on the larger account at $1,646 dollars. This pisses me off because not only did they not honor their settlement agreement but they are also still adding interest onto the account. So looking at it today pretty much looks as if I haven't made them a single payment.

Both of these accounts are well out of the SOL and the letter they sent me as a payment reminder even says "Because of the age of your debt, we will not sue you for it and we will not report it to any credit reporting agency." So I'm not worried about getting sued. Our agreement was for me to pay $55 a month on each account. One account for six months the other for twelve I think. Anyways by them adding interest and not honoring our settlement agreement I will never be able to get this paid off using the payment plan we arranged. I was going to pay the arranged amount but now since they're are pulling this crap I refuse to pay them one dime more than the original amount which is a total of $500 between both cards.

What I want to know is can I contact my bank and have them put a stop payment on all future transactions with this company? Also, if I call Portfolio Recovery Associates and tell them I refuse to pay them another dime since they are not honoring their own arrangement, are they legally bound from withdrawing any more money from my account? I just want to make sure that if I tell them to stop taking money from my account that they have to. I want to tell them "I have paid you all I'm going to pay you, you can either accept that as payment in full or you can let the debt go from CA to CA for the next fifty years, either way, I'm not going to pay another dime on either one of these accounts".
Does anybody see a problem with my plan?

[750orbust]

My biggest concern was restarting the SOL, but like I said, even their letter to me states that they cannot sue due to the age of the account. For what it's worth.

[DiabolicallyRandom]

I would research the SOL laws of my state carefully, just to be certain the SOL hadnt been reset. But yeah, stopping payment through your bank should be fairly easy. 

[guiness56]

Most states you have to have a new written agreement to pay in order to restart SOL.  What state are you in.

IME, just calling the bank did not help.  I had to let the charges be posted then dispute them.  It was a major PIA.  I ended up having to close my bank account and open another one. 

In my case, and why there is no way I will ever give them my bank or debit information again, they were taking more than the agreed upon amount.

[750orbust]

@Guiness
Having to open a new bank account is what I'm hoping to avoid.

@DiabolicallyRandom

The debt was incurred in Texas back in 2001 (four year SOL) I am now in Arkansas as of a year ago (three year SOL) . Which one applies here?

[guiness56]

Either one can be used.  You say 2001, what is the DoFD?

If the DoFD is 2001 it would be out of SOL in both states.

[DiabolicallyRandom]

Yeah Guiness I had to go into the branch as well.  I had charges on my bank card for websites that would be unbecoming to discuss.  They just wanted to cancel my card and send out a new one but I insisted on an all new checking account too. Since I wanted the new account I had to go into the branch, it was pretty quick and easy, the difficult part was just changing  my information through everything else after the fact.

[750orbust]

There is no new written agreement.

And Guinness, believe me, I've already learned my lesson to not ever again give them my bank info. I just wonder if they are violating the law if they continue to do bank drafts after being told to stop. Do I need to send them a cease and desist order? Will that bar them from making bank drafts?

[750orbust]

Not sure of the DoFD because it hasn't been on my CR for several years so obviously the CRTP has also elapsed which is longer than either states SOL. My bank is in Abilene Texas so I sure hope I don't have to make the nine hour drive back there just to start a new bank account.

[guiness56]

In TX you need a written agreement.  In AR either a payment or a written agreement restarts SOL.