Wachovia Account Military SCRA
Date: Mon, 08/24/2009 - 16:56
First I want to say that any bank who charges fees for accounts being dormant are crooks and should not be allowed.
I was wondering if anyone can help me. My husband opened a bank account with wachovia a few years ago to use while he was deployed (on ship) separate from our joint checking account.
He has not used it since that deployment. It's been over a year. Until Feb of 2009 he had a balance of approx 20 dollars in the account because we never used it.
In February the account started accruing fees of 5 dollars a month. I had no idea this was happening. I received a statement recently and I opened it. There is a chargeoff fee for August and the account is closed. Now this will probably show on chex systems. I had no idea some banks will charge fees for not using an account that had a balance.
My husband has been depolyed since March of 2009. All the fees associated with this account are from his account being dormant, and he's being charged fees for the past 6 months while he is in Afganistan.
Forgive me if I am way off...but can this fall under the SCRA (servicemembers civil relief act)? Thank you in advance for your replies.
§ 523. Fines and penalties under contracts [Sec. 203]
(a) Prohibition of penalties
When an action for compliance with the terms of a contract is stayed pursuant to this Act, a penalty shall not accrue for failure to comply with the terms of the contract during the period of the stay.
(b) Reduction or waiver of fines or penalties
If a servicemember fails to perform an obligation arising under a contract and a penalty is incurred arising from that nonperformance, a court may reduce or waive the fine or penalty if--
(1) the servicemember was in military service at the time the fine or penalty was incurred; and
(2) the ability of the servicemember to perform the obligation was materially affected by such military service.
I was wondering if anyone can help me. My husband opened a bank account with wachovia a few years ago to use while he was deployed (on ship) separate from our joint checking account.
He has not used it since that deployment. It's been over a year. Until Feb of 2009 he had a balance of approx 20 dollars in the account because we never used it.
In February the account started accruing fees of 5 dollars a month. I had no idea this was happening. I received a statement recently and I opened it. There is a chargeoff fee for August and the account is closed. Now this will probably show on chex systems. I had no idea some banks will charge fees for not using an account that had a balance.
My husband has been depolyed since March of 2009. All the fees associated with this account are from his account being dormant, and he's being charged fees for the past 6 months while he is in Afganistan.
Forgive me if I am way off...but can this fall under the SCRA (servicemembers civil relief act)? Thank you in advance for your replies.
§ 523. Fines and penalties under contracts [Sec. 203]
(a) Prohibition of penalties
When an action for compliance with the terms of a contract is stayed pursuant to this Act, a penalty shall not accrue for failure to comply with the terms of the contract during the period of the stay.
(b) Reduction or waiver of fines or penalties
If a servicemember fails to perform an obligation arising under a contract and a penalty is incurred arising from that nonperformance, a court may reduce or waive the fine or penalty if--
(1) the servicemember was in military service at the time the fine or penalty was incurred; and
(2) the ability of the servicemember to perform the obligation was materially affected by such military service.
I would suggest calling the bank and asking. Or call a JAG offi
I would suggest calling the bank and asking. Or call a JAG office
It sounds like something that Wachovia would do, and yes chances
It sounds like something that Wachovia would do, and yes chances are he is reported to both chexsystems and EWS. he definitely should consider getting an account at Navy Federal Credit Union (they have shared branches all over the country)
Submitted by Mary Adkins Matthews on Thu, 09/03/2009 - 21:50
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