Overdrawn Closed Acct.

bflow -

Sorry to hear about this - I know what you're going through.

Most banks will accept payments on the balance on a closed account. They want the money, and don't much care how they get it, as long as they get it within a reasonable amount of time. The only thing I can say is if you make payment arrangements with them, try your best to keep them, because they may not be willing to do it a second time.

If you are using a debt consolidation company they may be able to add it to your account. I am using T&C and when I mentioned my checking account was overdrawn they offered to add it to my (growing) list of creditors. Otherwise, it has been my experience that once it passes to the bank's legal or collections department they are usually willing to make arrangements. Hope this helps.

I have figured my financed and can really only afford $100 a month until tax time and then I can pay the balance off, we always get a couple thousand...mainly because we don't make a whole lot and we have three kids.So, that's the plan!

bflow, pm morningstarr. She's got the whole negative nasty balance thing going on with her bank, too. She can tell you what's up.

I will do that.
I am thinking of contacting T&C since I'm down to the nasty ones left and really just want them to leave me alone at this point and why not throw in the bank as well. I think I'm going to try one more attemp at mailling my information to the Corporate Branch of the bank and see if that gets me anywhere, probably not, but at least I will have tried and will feel better about it if I go with T&C.

bflow, you do whatever makes your situation better. Send morningstarr a pm and see what she says about the whole bank account thing. I know her's is in the same situation as yours. See what she has to say. And call T&C and see what they have to offer. Just make sure you don't "disappear" again! Post what is going on! I'll have to hunt you down if you don't!

SORRY :(
I've been so busy it's crazy, still holding down a full time job, dealing with a PT, 3 online classes, all of which are completely disastrous and I can't keep up with them!!!!, and my husband was told yesterday to find a neurosurgeon for his neck!!!! YEAH, OK!!! CAN ANYONE SPELL STRESS??????????????????????????????

bflow, remember our motto - "One thing at a time". pm morningstarr. She can probably help you at least a little on the bank overdraft/payment issue. Call T&C and see what they have to say. Contact that one collection agency and demand debt validation. And, tell your husband to stop hurting himself. Please keep us updated as to what is going on. We are concerned! :D

Bflow
I was in the same situation with Washington Mutual. Negative 1100.00. They refused to let me pay it down, and wasnted the entire amount. Thankfully, a good friend lent me the money so I would not get reported to chex. from what I have read it is completely up to the banks policies

Well, worst case scenario is that it will end up in collections, correct? So, then hopefully they will let me pay it down. Who knows?
I am sending off a letter today with a very detailed breakdown of what happened, etc. Maybe it will work. Probably Not but worth a try.

Bflow, It will end up in collections. They cant get water from a stone, and they will have no choice at that time to let you pay it down. I have learned that when the chips are down, people would rather get something than nothing.

Not to be the bearer of bad news, but the worst case scenario is you get sued by the bank.

Have you tried filing a complaint with the OCC? That is the regulatory agency for the national banks. That may help you get somewhere with the bank.

I don't know what they are going to do but they haven't even sent me so much as a letter about it and it's been overdrawn since the end of July.

bflow, did you pm morningstarr? She's making payments to the bank and they agreed not to report her to chex. Plus, this keeps her out of trouble while she's still fighting it.

I just pm'd her. I am headed to bed, it's the first night since doing school and work ft/plus pt work that I am getting in bed before MIDNIGHT!!! Yeah, I feel like I'm getting something good! Oh, wait, I am, it's called SLEEP!!!!

I thought this was long for a PM so I am answering here: The same situation occirred with my bank and even after I sent a letter to the CEO, both branches where I cought help and the LP division I didn't hear anything for about 60 days. Then Loss Prevention called me..this gist of it was that they could do nothing to get rid of the charges, only collect on them. They also said it was not possible for them to participate in my debt management program. I set up payments arrangements of $122. a month...they promised not to report to chexsystems as long as I made my payments. The LP person also told me that after I made a few payments I should contact the manager/president of the branch and explain the situation again...show them the documents of the debitsd, and the c&d letters I wrote etc. Then maybe they would lower the balance somewhat. I have made 3 payments and have just sent letters out to all the apropo places again in an attempt to lower the amount. If I do not hear anything by the end of September I will be contacting the OCC.

Thanks for posting that, morningstarr! I'm sorry I kept suggesting she pm you, but I knew you had the same situation. Now she can know what to expect or at least ask for from her bank. I still think it all sucks, but at least someone may be helped by your information!

Thanks Morningstarr! I'm a nervous wreck over all of this mess but I'm trying to keep a positive attitude and we'll see. I sent off my letters to the bank today but I don't know how long it will take to get any kind of answer.

I received a letter from the old bank this weekend stating to call them about the account so we could work out a plan.
I am going to call them but I still mailed to the collection department a copy of all my letters, faxes, etc. and a letterr pleading them to look it over and help me out.
We'll see. I 'll keep you posted.

Yes, please, bflow. Keep me posted on what's going on. I'm concerned for you, my friend.