Overdrawn Account
How do I even begin to pay this back. I have an account with a different bank where my paycheck goes but its going to take me many months to pay it back.
Do I just call the bank and ask them about a payment plan. I have no idea where to start. Do I go with a debt management plan. Please help.
The account retention department called me today and I have to call them back. I am very nervous.
You haven't given the name of the pdl companies from whom you ha
You haven't given the name of the pdl companies from whom you have borrowed. Pdl laws change with state, so you need to give your state name too.
Check whether the companies are licensed to lend in your state. You can close your checking a/c and stop those pdls from debiting money from the same.
If you really want a debt solution then debt settlement can be the one.
Is the overdrawn account now closed to any more debits? If not,
Is the overdrawn account now closed to any more debits? If not, you want to work with the bank to see if they are willing to close it now. I had this same problem, my bank would NOT close the account until it was in the negative for 45 days, all the while they charged me daily fee's for being overdrawn, when it was all done, I owed the bank over $1600!! They offered a payment plan but I had to have it all paid back within like 30 days, (Yeah right)....So they turned it over to a lawyer collection agency, who calls me all the time, we however are now in the process of filing chapter 13 bk, so this bank bill will go in with that. I wish you luck, Reny
Okay, first thing you need to do is call the bank and see if the
Okay, first thing you need to do is call the bank and see if they can "freeze" or "block" the account to NO debit activity. They probably will not close out your account, but they should be able to do the block/freeze without a problem. Just explain that you cannot have any more debits coming out, you have nothing outstanding, and you need to make sure you don't get hit with any more fees or attempted PDL withdrawals. FORCE them to do this for you, to keep your account from going any further in the red. You may have to go into a branch to do this.
Second, ask them about repayment. MOST banks will offer you a plan. Just explain to them when you get paid and how much you can repay each time. You'd be surprised - they may even knock off some of the balance. They really would rather get their money repaid than try to sue you or lose the money.