logo

Debtconsolidationcare.com - the USA consumer forum

The verbal agreement mistake

Date: Wed, 07/21/2010 - 14:16

Submitted by anonymous
on Wed, 07/21/2010 - 14:16

Posts: 202330 Credits: [Donate]

Total Replies: 4


Yesterday I made a verbal agreement over the phone with a representative (who had me verify the agreement with a colleague) to allow FIA Card Services to take money out of my checkings account with Bank of America for a debt I owe. I explained that I'm out of work without any source of income right now and probably would not have the money in the bank by July 30, 2010 to be withdrawn. The representative said that I could call back if I don't get the money by the above date and they will make other arrangements but I should agree to this to stop the phone calls. I agreed to this last month, didn't have the money and was charged fees for bounced checks. I plan to call today and cancel this agreement but do you have a sample copy of a formal letter that I can send by certified mail with a return receipt? I made a big mistake, what are my other options?


One option would be to cancel your checking account and open a new one at another bank. you also want to call them and cancel the draft and ask for some kind of confirmation number. Also get the rep's name and employee number if they use one and mark down the date and time you started your conversation.

I'm so sorry you had to learn this the hard way, we've all made mistakes.


lrhall41

Submitted by Debt Free to Be on Wed, 07/21/2010 - 14:40

( Posts: 412 | Credits: )


I had the same scenario with a debt collector. Realized the day after, and sent them certified letter and faxed it cancelling the agreement (I had received a copy via fax), and revoking ACH authorization. There was plenty of time before the draft date. A week later they debited my account which caused an overdraft and charges. It was returned unpaid by my bank, but I had to suck up the overdraft charges. That same day I went to the bank with a copy of my letter and return receipt card and completed unauthorized withdrawal form with my bank. The following day the debt collector debited my account AGAIN. It was not paid, and now I've closed that account.

Learned the hard way too. They hadn't sent me verification that they were authorized to collect debt, nor their license/bond number in N.J. I should have waited to receive that info before I authorized withdrawal.

So the best solution is to close your account before they clean you out, because they can debit for ANY amount.


lrhall41

Submitted by aubrey on Thu, 07/22/2010 - 06:10

( Posts: 1203 | Credits: )


Dear Need help fast:

Here's what I would do:
Follow Aubreys Advice, with the CErtified Letter!
2) Go to your bank and fill out a Stop payment Form, just in case Debit comes through before they get your letter. This will probably cost $10.00-20.00; but worth it, to find extra had been taken out. Even though they could get your letter in time, by stopping payment, it will assure, the debit will not go through! You may want to do this before sending the Certified Letter cancelling authorization.
3) in the letter, I would also put, you have put a stop payment with your bank.

Next, I have a Cease & Desist letter I use to Collection Agencies, every one of them.

CA don't tell you, but any money you pay them probably will NOT go to the original CC bank (B of A). Chances are B of A has charged off your account for delinquent payments. By law they have to after so many days.

I do have some options, that can help you, as well as letters and other documents. I don't like Collection Agencies or their Attorneys, so that is why I help people on my own time for no fees charged.

I am not an Attorney. I can not give legal advice; but I can advise what I would do in a given situation. I have fought 2 lawsuits on my own against us. I have helped others both with Collection Agency (CA) and CC debt lawsuits, with favorable results. I am well knowledged in Consumer Protection laws.

For additional helps, options letters etc. email deleted...pm
Thank you

stop posting your email.i suspect you now of soliciting.sorry but posting your email is not allowed per TOS rules.


lrhall41

Submitted by on Fri, 07/23/2010 - 10:43

( Posts: | Credits: )