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 Posted: Fri May 02, 2008 8:57 am |
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My bank account is negative almost 1500$ because of pay day loans, and other automatic bills coming thru that i wasnt able to stop in time. Also due to the overdraft fees im being charged because of it and they are charging me $8 a day that the account remains negative. They will not let me close it until the balance is $0. what should i do? will they eventually close my account automatically? I live in ohio, the bank is US bank.
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mandymyr
Joined: 30 Apr 2008
Posts: 12
Debtcc Points: 202
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| Posted: Fri May 02, 2008 9:03 am |
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I believe tat after a certain number of days they will close your account"with cause".This will put you on Chexsystem. I also believe that yu will have to make arrangements to pay the bank what you owe.
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kashzan
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Joined: 11 Jul 2007
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| Posted: Fri May 02, 2008 11:46 am |
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Have you gone in and talked to your bank and see if possibly they will waiver some of the fees? You can explain the situation and maybe they would work with you. Could be worth a shot
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2nband
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| Posted: Fri May 02, 2008 12:16 pm |
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I, unfortuantely, was in the same boat a few years back. I just let it keep going and they closed my account. After numerous collection letters, which I stupidly ignored, they subpoenaed me and again, I foolishly didn't make arrangements or show up to court. I now have a judgement on my credit report and it's killing my credit.
My advice - go to your bank, explain the situation and see if they can assist you in any way. Make the effort. I didn't and have been paying for it for 4 years now...
Hope this helps!
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kelly
Joined: 02 May 2008
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| Posted: Sun May 04, 2008 1:58 pm |
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2nband's suggestion is good. If you talk to the bank, they may be willing to credit back some of the overdraft fees. I went into my bank when I became overdrawn due to pdls, and they credited back $300 in fees, so it was definitely worth my while.
The worst they can do is tell you no.
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Tiffany99
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| Posted: Sun May 04, 2008 5:26 pm |
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My son had the same thing happen , only he did it with his debit card. I took him to the bank and asked to speak with an officer of the bank. We both explained how stupid he was and that he wanted it taken care of, and could they work with him.
They did take off some OD fees and charges, and then had him set up a re-payment plan.
Strangely enough, after this was taken care of, sometime later he opened up another account there, with no problem..Good Luck..Karen
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Bossy4455
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| Posted: Sun May 04, 2008 7:03 pm |
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Most of the time I think that they are willing to work with you if you approach them and not ignore it. Just do as everyone suggests and go in and talk to someone they will help you.
You don't want them to turn you over to chexsystems, you will be stuck in their for 5 years even if you pay them off. (Which I personally don't think that is right. If you have paid them they should remove your name from their stupid database).
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ladybug
Joined: 29 May 2007
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| Posted: Tue May 06, 2008 5:46 am |
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Depends on you're situation. The PDLs which I worked with and placed Stop-holds on, placed electronic checks in my name against my account placing the account into a negative balance. Guess what? When they sent the electronic check, they committed bank fraud. My bank is investing the case and assured me they will not only waive the fees but reimburse me the lost amount - ($960). The only problem, it takes as long as 6 weeks to perform the investigation. In the meantime, the account is in a credit-only status. I am planning to close the account when my federal rebate shows up -whenever that happens. ;(
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Guest
Debtcc Points: 100
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| Posted: Tue May 06, 2008 6:25 am |
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I'm sure they will eventually close your account but I agree with what everyone else has said you really should go in and talk to them. A few years back I had a student loan company put an electronic check through that they did not have permission to do I went in and spoke to the bank and they completely waived their fees for me and got the bank account closed so this could not happen again. Most of the time the banks are really good to help if you just let them know what's going on.
Hope this helps some,
Johnita
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johnita
Joined: 28 Apr 2008
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