Internet's first get-out-of-debt community - 128,000 members

Guest

From Jenny (re: drowning in Payday loans, need life jacket!) -

Hi everyone - I just went to my bank and explained the mess I have gotten into w/ pdl's . The manager I spoke with was helpful & was able to return $111 of the $450 some odd overdraft fees I accumulated due to pdl's. My account is still overdrawn by $34 so he wasn't able to close it (I may be able to deposit $35 tomorrow to bring the balance to positive standing. Yes, that's how broke I am right now!) and he suggested I call the Bank of America fraud department and file claims against the loan companies I have paid off that continue to withdraw money, and I may be able to get some $ back thru this.

My question is, has anyone filed fraud claims w/ their bank against pdl companies? Is it worth a try?

The rep at the bank said their fraud division will probably go ahead and waive the $34 and close my account if I go ahead and call them & explain my situation. He also opened a new checking account for me & said there is no way B of A will reopen my previous account to let ACH transactions go thru. There is also no way for the pdl's to get into my new checking account.

Posted: Wed May 23, 2007 11:03 am Subject:

I wish I would have filed them after I revoked their authorization to debit my account...you can always contact the fraud dept and see what they think

Posted: Wed May 23, 2007 11:42 am Subject:

I would give it a try . . . . Some people have been able to recover funds from their bank. It's definatly worth a try!

Posted: Wed May 23, 2007 12:12 pm Subject:

Thats what I'm thinking..its always worth a try, can't hurt. Thank you Smile

Posted: Wed May 23, 2007 12:16 pm Subject:

They may not be able to get it all back, but they may be able to get the last month or two of payments back, and think how much that would be!

Posted: Wed May 23, 2007 12:17 pm Subject:

its a good idea, you really have nothing to lose and maybe some dollars to gain

Posted: Wed May 23, 2007 7:27 pm Subject:

There's a little thing called the Electronic Funds Transfer act. If any unauthorized debits were made, file a complaint with your bank. They then have 45 days to investigate. They don't, then you might have grounds to sue them as well.

Guest · Posted: Thu May 24, 2007 5:51 am Subject:

Thank you, law student. - J

Posted: Thu May 24, 2007 7:36 am Subject:

Quick question - I'm trying to calculate this. I took a pdl out with PayDayOK in November for $500. To date I have paid them $701 back. What is the amount that I legally owe them? Do I have the right to ask them to declare this one PIF? I viewed my account w/ them online and it says my principal amount is 300 and if I paid in full today it would be $312.86.
Can anyone calculate to see if I owe them anything else? I live in FL.

- Jenny

Posted: Thu May 24, 2007 7:59 am Subject:

Since FL doesn't allow rolloevers, all that you paid to rollover the loan should go to principle. So yes, you've paid them what you legally owe them in full plus some.

*Name:
*Email:
*Phone:
*Zip:
Debt

	* denotes required field

Internet's first get-out-of-debt community - 128,000 members

Should I File a Fraud Claim with Bank?

Members Area

Free Debt Counseling

Ask the community

Community Photos

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post