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c_stephanie@msn.com · Posted: Tue Mar 28, 2006 12:18 pm Subject: My checking account

I am scared to death to call my back, I am currently in the hole to the for over $400.00 in NSF fee and bounced checks due to credit card loans I have taken out. I know that they will not close my acct. and open a new one with an outstanding balance, will they freeze the acct. with automatic deductions from payday loans companies coming through? I have also just completed my application with T & C. They were so very nice to me and what they have set up seems too good to be true. A girl says that they sound like a rip off company to her. Please reassure me that they are going to do what they say they are going to do. This whole situation has me stressed out and scared to death, Im not sleeping and have not told my husband how bad it is. Tonight I sit down with him and level about the debt I have gotten us into, hopefully this all works out. Sad

Posted: Tue Mar 28, 2006 12:20 pm Subject:

You need to calm down and breathe easy. You have taken the first step to becoming debt free. I have been with them since December 2005 and they have never done anything wrong by me. You will see there is alot of us with T&C and have had wonderful results.

Guest · Posted: Tue Mar 28, 2006 12:26 pm Subject:

thank you for your response. I have calmed down a little since I typed that, somehow just getting it out helped. I am still really worried about my bank. I dont want to screw that up too, do you think they will freeze my account? I am on auto deposit which goes in on Thursday night, that will more than cover any balance I owe them with about $250.00 left over. Should I go and take what is left out and then close the account? The payday loans will come out Friday. Am I making sense? What if I cant open another acct. due to NFS's and such?

Posted: Tue Mar 28, 2006 12:27 pm Subject:

by theway, the guest above is me, I didnt log in, sorry....

Posted: Tue Mar 28, 2006 12:47 pm Subject:

Gosh..you sound like me! I was like this the other day! The same exact thing. My account is currently $200 in the hole due to NSF's because of all the payday loan fees..
What I did was call my bank and explained the situation and you will probably need to go in and freeze your account for withdrawals.
Then when you can, deposit the overdraft fees and close your account.
I was terrified to call my bank yesterday, but I must have sounded so pitiful that the lady felt sorry for me and she was so nice.
So, take a deep breath and dial that phone girl! You will feel very relieved!

Posted: Tue Mar 28, 2006 12:56 pm Subject:

It's going to be ok! Once you pay the nsf fees you should have absolutely no problem closing your account and re-opening another. Give them a call and tell them what's going on and what you're planning, I'm sure they've seen worse situations than yours. Once that's taken care of things will be a lot easier for you. Very important, though, and I know this from experience..Tell your husband everything!

Posted: Tue Mar 28, 2006 2:06 pm Subject:

hi - don't panic, but I would immediately go in and freeze the account - my bank had told me I couldn't do that, and am now in a royal battle with them. they closed my account and have sent the balance of 2500(!!!!) to a collection account. I am thinking of suing htem, but i have anothe raccount at another bank so things are not so bad.

all that moeny is fees becuase they had lied and told me I could not freeze electronic transactions....be firm with your bank and you will prevail....never forget though in the panic moment that this is all fixable and you will make it through

Posted: Wed Mar 29, 2006 11:11 am Subject:

Just to let everyone know what has happened so far...I contacted my bank, AmSouth, for all of those who deal with them. I spoke with a very nice woman named Dina. She said that they will not freeze an account, but will put stop payments on anything. The only problem with that situation is that its $36.00 per item and you have to know the exact amount,etc. What she suggested was that Friday after my auto dep. goes through and gets my acct. current to come into her branch and deal with her. She will close that acct. and open me a new one, also she is going to be sure to check the closed acct. on Monday, because sometimes if things come through it will cause the closing to be rejected and she wants to make sure that does not happen. This is a big relief, I was afraid that after all the nsf's that I would not be able to open a new acct. but she said that would only happen if they had closed my acct. due to inactivity and a negative balance. Thanks again to everyone that has tried to answer any questions that I had. I really appreciate it. I am sure I will have a ton more questions as I continue down this road to payday loan hell recovery. Stephanie

Posted: Wed Mar 29, 2006 11:54 am Subject:

doesnt your payday loan debits go through the same day as your check is going to be deposited?

Guest · Posted: Wed Mar 29, 2006 12:27 pm Subject:

No, I have access to my funds on Firday am, then the debits come out on Friday night

Posted: Wed Mar 29, 2006 12:34 pm Subject:

oh ok i just wanted to make sure. when i had my loans being debited, they would go through at the same time my direct deposit wen through. so when i looked at my bank statement on friday morning, all the payday loans would be debited and my paycheck would be deposited

Posted: Wed Mar 29, 2006 12:38 pm Subject:

Stephanie

You need to be careful in closing your account. Usually the payday lendors are right there when the banks open, to request their money back.

Also after changing the account number successfully, call each payday lendor and ask to make out some sort of payment arrangement. The sooner you deal with that, the more likely they'll be willing to work with you.

Regards-
Mike

Posted: Wed Mar 29, 2006 1:10 pm Subject:

Mike--I am figuring that they will try to get at it any way they can. Dina, the lady at the bank, said that she would check the acct. the first thing Monday and let me know. I figure either way I am going to have to pay it, but my overdraft limit is only so much, after that the bank declines or nfs's any debit. As far as contacting the payday loan people, I have started an account with T & C, and asked my representative if I should have any contact with them, she said no, they will handle that. Was she wrong? I am sure they will call me, and I have prepared myself for it, but she said to have them contact her. I know that I am in the first steps of an uphill battle, but man, anything has to be better than the stress I have put myself under for the last year.

Posted: Wed Mar 29, 2006 1:14 pm Subject:

some will still try and contact you. i had that happen to me this week. i told them that i was working with t&c in consolidation and they asked me to have them fax over the proposal. i also got a rude call from one of cashnet500 yesterday. i tried telling him that i was in consolidation and that t&c would be sending my payments. he said i was lying and that he will call back the next day to have my wages garnished. i told t&c about the call today morning and havent heard anything back from him yet. crossings my fingers that he wont call back. goodluck to you. im sure everything will be fine

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