Middle class and stuck with no options

How is your bank taking money without telling you? Are the reaping fees like from overdrawing or have you authorized (wheter on purpose or not) something to come out automatically?

I found that I had to cancel all automatic payments. They always ended up screwing me over, they'd come out an hour before my paycheck and I'd end up with another fee, with all the fees the bank took from me, that was money I could have used to get back on track. I've closed that account and opened a new one with the vow to never give that account number to anyone, they are all getting cash or if I need a reciept they are getting a money order.

Sorry I can't be of more help, glad you have a budget atleast. Hopefully someone else can provide more insight.

They take the money, then I get a letter about 3 days later. I haven't gotten the letter yet for the one on the 24th, but I'm sure it will be there today or tomorrow when I get home. How can I budget that in if they don't tell me until AFTER? And because my checking account is with the same bank as my mortgage and equity, I can't stop them. Thanks for your comment, though. It's good to hear that someone can at least remotely identify.

Can you shed a little more light on *why* the bank is taking money out? Is it overdraft fees, money owed to the bank on a previous debt, or what?

If you can give us a little more info, we may be able to offer you some solid advice.

Yeah, I'm not sure I understand exactly why the bank is taking your money and telling you after. Does the bank take it out for your mortgage and equity?

Until you post what the issue is with the bank taking out your money before you know it...I will address the other situation. I too make decent money and could never make ends meet or save. Then I got into trouble the the payday loans. What I chose to do is a debt management plan. They make out a budget for you, contact your creditors and make your payments for you. You make one payment a month to them...and then what you have left is what you use for every day living, etc. I owed a little over 7K and in my plan I should be debt free in 12 months. Different plans work differently depending on your debt and where you are. And some debt can't be put in there. I am also taking a responsible credit class that teaches you to budget and plan for unexpected things. If you sign up for the free counseling I am sure they can go over all your options and help you chose what is best for you and your family.

good advice, morningstarr! :-)

Thank you Suebee!

Hi Everyone, thanks for your attention. Yes, the ach was going toward the equity that is late. It's about 40 days late, and so they saw money in my account and took it to apply toward the 30 day past due. I had 176.16, and they ach'd 176.15. So my debit purchase of gasoline, groceries and cell phone bill were all in the red. So there's $99.00 in fees plus the face amounts. So yes, the ach was because my equity was late, and they took what they could and applied it toward the past due. Here's what's frustrating: I spoke with them on the phone 2 times with my payment intentions, but I didn't actually post-date a payment. This is what is so discouraging. And by the way, it's not a sub-prime lending institution, it's a mainstream bank that I've been with for 15+ years. Morningstar, thank you for your input, as I've often thought about the credit/debt counseling, but always assumed that because our credit card debt was fairly minimal it wouldn't be our answer. I'll go ahead and call for a consultation. Thanks again everyone.

Sorry everyone, I didn't realize I wasn't logged in, so my previous post shows me as a guest. ;)

that's ok, newman - we all get posted as guests sometimes! :-)

I think it would be a good idea to sit down and get a handle on where everything stands - especially the home equity loan, etc., since your bank must have a policy in place that allows them to withdraw from your account anytime there's money available to cover the past due amount. It may mean some lean living for a while to get caught up, and maybe your spouse will have to take a second job or find some way to make some extra money for a short time to get things taken care of, but it's not impossible.

I don't know if this would work, but maybe you could try opening a new account in a different bank. If you have direct deposit most of the time they'll let you deposit some in one and some in another. This way you can have some of your paycheck to access for food and important necessities and the rest can be 'taken' by your current bank. I agree with Suebee in that maybe you could also find an extra job or some other extra income that won't have to go directly in that bank and you can use that to live leanly off of.