Help!
Made a few bad decisions!
I have a Chase bank account with $-900, and a PNC bank with $-500.
I get paid $1100 on Friday and $1100 on 3/23.
I have 4 payday loans, none of which I have made any payments on yet (but I will pay off the principals eventually!).
1) PayDay One - Total $600.....141 due on Friday.
2) CashnetUSA - Total $450 .....90 due on Friday.
3)PlainGreen - Total $700.......102 due Friday.
4) CashCall (sold to CC from WesternSky) $1500.....200 due on 4/1.
So, I have $-1400 in bank accounts, $1100 incoming on friday, and another $333 due in PDL's.
I can pay this but I need some time to build up a bank account!
Please help! I'm in Ohio, if that helps.
For placing a block on my account, Chase says:
To request an account restriction, you will want to visit
your local branch. This request is processed when you want
to close the account and open a new account due to the
account being compromised. This request will ultimately
close the account within 10 calendar days. Please visit
your local branch to request an account restriction. I
apologize for any inconvenience this has caused.
For closing outright:
We are sorry about your decision to close your account
with us. Chase offers many account options and we may
have one that will better meet your needs. You can find
more information on the variety of accounts we offer by
visiting our website at www.chase.com, visiting a Chase
branch or calling a Telephone Representative.
We are unable to close your account through e-mail. Our
records indicate that your account ending in 8202 has a
negative balance of $707.15. Please contact our Deposit
Account Collections department at 1-800-555-0433.
Representatives are available from Monday to Friday, 8:00
AM to 12:00 AM, Saturday, 8:30 AM to 12:30 PM and Sunday
5:00 AM to 9:00 PM EST.
If I put a block on it, it seems as though the full effect takes 10 days and the debit attempts will still (possibly successfully) come on Friday! No!!!!!
Thanks!
my experience w/ Chase
I just closed my account w/ Chase 2 months ago & before this I really liked Chase and honestly thought I would change banks for 6 months then go back w/ them - NOW, I REALIZE THEY ARE SO UNPROFESSIONAL.
I first called the 800/customer service # but was told closing accounts has to be done in a local branch. I went to a local branch and explained the situation. I first asked to see if they could just stop withdrawals/debits, they could not. I explained my situation and asked if they could close my account in the negative then I could pay them within 30 days (mainly to stop the influx of PDL debits), they could not and the rep got the branch manager.
She was extremely rude and told me that she CANNOT close an account in the negative and they will continue to charge me for every attempted withdrawal up to 3 /day - totalling $112. I asked her at what point would they finally close it and she told me after 45 days and they would continue to charge me withdrawal fees so at 45 days it would come close to $4,000 in fees - Yes and she even acknowledged the fee amount!! Then she advised that it was my fault that I got myself into this situation and those were contracts/agreements I had to honor. She added it was my choice to deal with illegal lenders! Fortunately, though I had enough money to let 4 of the 6 last PDL charges clear, so I had a 2 day window before they likely tried the w/drawals again so I found some money and deposited same that same day, so the next day the account was positive and I drove back across town and closed the account on the spot. At least with Chase, if it is closed, no attempt to withdraw anything will reopen it again, as apparently there is a bank or two that if the charger can prove they have a reoccurring withdrawal, their w/drawl attempt can force open a closed account w/in the first 30 days the account was closed.
Chase was so demeaning to me! She had no empathy or no suggestions what to do! She refused to call another bank branch or another unit for advice. 2 months later, my financial situation is now changing and I REFUSE to deal with them again.
Oh and BTW, once your account closes they WILL NOT allow you access to your previous bank statements online so if you need them to research overpayments of PDL (for example), unless you received paper statements and kept them, you will have to Pay for them. My bank from 2 yrs ago (different company) still allows me online to see my old statements (obviously as no longer a customer I only see old statements)...nonetheless, smart decision b/c in 6 months I will research car loans and I may look on their website.
Getting your Bank Straight
Without knowing specifics, I can only give general advice.
First- revoke ACH privileges for all the Payday Lenders who are now debiting your account. You may need to go down to your branch to do this but you can try over the phone customer service first.
Second - bring your account current so that the bank will be nicer to you. They are correct in that they will not close a negative balance account. They want their money.
Third - After you are current, ask to have some of your nsf fees waived. You don't ask, you don't get.
This will not solve your Payday Loan debt problem but will give you control over your account so you are not racking up fees and getting further in a hole.