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 Posted: Wed May 30, 2007 9:42 am Subject: Dispute a demand draft or let it go this time? |
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I had a unauthorized check that cleared from National Opportunities Unlimited for $318. I had stopped payment placed on this, even for zero dollar amount, but the reason it cleared this time was because I had to place another zero dollar amount stop request for another company. The bank's policy allows you only one zero dollar stop request per account. If you know the exact amount that is to be debited, then there is no limit to the amounts you can place a stop.
Anyway, fortunately I had to cash in my account to cover this, and called the bank to dispute it. It doesn't affect rent or anything because my direct deposit goes into a different account. However, I am wondering if I should just let it go (one less account to pay back later) or dispute it. The bank is sending me the paperwork today, and they said the process will take about 7-10 business days. I am just a little sad because I was going to pay off the store front on Friday, but now I can only pay it down. *sigh*
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joshua1987tree
Joined: 25 Apr 2007
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| Posted: Wed May 30, 2007 9:46 am Subject: |
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You say it was unauthorized. Was it a paper check or an ACH withdrawal. Can you freeze this account after you get the check reversed?
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frogpatch
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Joined: 09 Apr 2007
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| Posted: Wed May 30, 2007 9:53 am Subject: |
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This time it was a check. Last time when I had a stop, they did it by ACH. They can't do an immediate check reversal, the bank stated, so I have to go through the dispute process. I would be able to freeze the account, if and after I get the check reversed.
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joshua1987tree
Joined: 25 Apr 2007
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| Posted: Wed May 30, 2007 2:20 pm Subject: |
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It doesn't hurt if you fill in the dispute form with the bank. You might have some portion of your money back into your account, since the company did an unauthorized withdrawal.
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fatb88
Joined: 20 Dec 2006
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