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Bank giving me problems

Date: Mon, 10/12/2009 - 09:27

Submitted by jsennett621
on Mon, 10/12/2009 - 09:27

Posts: 17 Credits: [Donate]

Total Replies: 8


well, BOA is totally bending me over. I talked to ACH Fraud & she said the bank has to pay because its my name on the ACH. and that an ACH is different from an EFT, so I can read her that law all day long & it means nothing. she sent me out the fraud paperwork, but all the stop payments didn't stop anything. AND she told me that I shoudl better handle my finances or take out a consolidation loan to pay these people off. PLus, as of this mornign, I have 7 $35- NSF fee's; every 5 days they are not paid they add another $35 late charge (the bank does) & then this week, 2 more will hit.......

But the bank (BANK OF AMERICA)says they can do nothing, I have to deal with the merchant.

I explained the laws in my state & that they are more than paid & theat I demand no more payments be made. SHe said its basically out of their hands & good luck.

ANYBODY HAVE AN IDEA?????


I'm not surprised, BOA has caused a lot of grief for other members in your situation too. She is incorrect, the EFT law cover UNIVERSAL DEBITS! I would tell BOA you are going to contact the FTC to let them know that they are not cooperating with you nor are they following the Electronic Transfer Funds Act. You are going to need to get a little tough with them.


lrhall41

Submitted by Shazzers on Mon, 10/12/2009 - 09:37

( Posts: 17344 | Credits: )


I'll try that.

also, Kristina Davis from SSM emailed me--this is the company that put money in my acct, it was jsut there one day:
"[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]We have received and reviewed your correspondence regarding your complaint with SSM Group, LLC.[/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]
The information that you have collected online does not apply to your situation, you are referring to check deferment. It is our opinion that it does not apply to our internet business model. This is based on sound advice from our legal department.

The money was lent to you in good faith with the understanding that you would abide by the terms detailed in your loan contract. We upheld our end of the agreement by crediting the funds to your account in a timely manner. The Loan Note and Disclosure that you e-signed and thereby agreed to is very detailed and clear so as not to cause any confusion to the borrower, and meets all the Truth-In-Lending and Reg Z requirements as prescribed by Federal statute.

[/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]We have all the legal contracts you signed, in which you agreed to terms and conditions of the loan. [/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444] [/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]Please be advised that if you should stop deductions through your bank, your account will be submitted to an outside collection agency.[/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444] [/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]Respectfully,[/COLOR][/COLOR][/SIZE][/FONT]
[FONT=Verdana][SIZE=1][COLOR=#444444][COLOR=#444444]Compliance Dept."[/COLOR][/COLOR][/SIZE][/FONT]


lrhall41

Submitted by jsennett621 on Mon, 10/12/2009 - 10:11

( Posts: 17 | Credits: )


Quote:

Originally Posted by Shazzers
It doesn't matter what the contact says if they aren't licensed to lend in your state, and even if they were you have the right to revoke debit authorizations at any time.


I was only asking because she said the money showed up in her account one day. I'm assuming she doesn't recall applying for it but they stated they had signed legal contracts from her. If I didn't remember applying for something asking for their claimed documents is probably something I would do.


lrhall41

Submitted by PinkLady on Mon, 10/12/2009 - 12:36

( Posts: 1720 | Credits: )


Quote:

Originally Posted by PinkLady
I was only asking because she said the money showed up in her account one day. I'm assuming she doesn't recall applying for it but they stated they had signed legal contracts from her. If I didn't remember applying for something asking for their claimed documents is probably something I would do.


Oh I know, I wasn't disputing what you said just letting the OP know my opinion too, is all.


lrhall41

Submitted by Shazzers on Mon, 10/12/2009 - 13:44

( Posts: 17344 | Credits: )