In Over My Head
Date: Wed, 01/13/2010 - 12:08
Compass Bank $869.00 (BTW, this is stupid, because the original overdraft was for something like $10.00. They added one overdraft fee, then added a bunch of different fees every five days or something like that. When I asked to close the account and told them I'd make payments for it when it was up to $100 they told me they could not close it until it was paid off in full. Which I couldn't freaking pay off, because the price kept getting higher and higher. Yeah, that's how they screwed me).
Next off I have a really easy one which I'm paying off next week which is to Compass Bank for $165 which I THOUGHT my dad said he paid off, but apprently not. I'm not worried about that one since my taxes should definitely cover it.
Last one is for a car reposession that happened last January. The cost is somewhere around $5,000.
I have been avoiding these collectors like the plague. I do not make a lot of money, I recently had a child which I can afford just fine, but the debt keeps haunting me and ruining my life. Yes, I was young and stupid no one ever taught me about finances, I just got to learn the hard way.
Anyway, my boyfriend does not have a job so I am the only source of income. I do not have rich family members to help me so that's not an option either.
I have all of this debt which seems pointless to even TRY and pay off because the interest is so high (some of it is close to 25 fucking percent).
I am tempted to just file for bankruptcy, but I've heard that will just screw me even more. Any ideas or suggestions would be super, thanks.
My bad, the first one is supposed to be US BANK. Not Compass.
My bad, the first one is supposed to be US BANK. Not Compass.
[SIZE=3]It looks like your total debt is 5,000 + 869 + 165 = 6,0
[SIZE=3]It looks like your total debt is 5,000 + 869 + 165 = 6,034. First, I would not file bankruptcy for such a small amount. Second, I would rip a bunch of bank employees??? asses over at U.S. Bank until they fix the mess that they mostly created. There is no excuse for them to charge you $869 for a $10 bounced check. They would be lucky to get more than the $10 out of me unless I really felt like I was at fault. Then the best they would get is the $10 plus one overdraft fee. I would fight the rest of their ridiculous fee structure rules. I have had a bank account for over 20 years and had tons of success getting the banks to waive fees. [/SIZE]
[SIZE=3]Unfortunately it looks like you can???t do much about the car repo debt. I would probably send them a cease and desist letter and cut all contact since you have a very limited amount of money and can not afford to make payments on a car debt of a car you do not have in your possession. That debt will follow you around for a long time unfortunately. [/SIZE]
[EMAIL="ewall_1999@yahoo.com"][/EMAIL]
