negitive in bank
Thread Starter
|
Posting Guru
Joined: Jun 2004
Posts: 1,808
Likes: 0
From: Cincinnati Ohio
negitive in bank
I have an old bank account that somehow was not closed or anything and now it says I have something like -$107.00 in the account, they say I cant close the account of put a freeze on it till it has a zero or positive amount in it, and there is no way I can afford the 100 bucks outright right now. Anyone have any advise. If I let it continue building the negitive amount what will happen or do I have no choice but to try and pay it off?
Posting Guru
Joined: Jul 2003
Posts: 1,978
Likes: 1
From: Alvin, Texas.
The bank will try to come after you for the money.
I had something like that with a bank I used that was acorss the street from my old restaurant.
I had an ex-employee wait a month to get her check when I wasn't around and she tried to cash it twice after I had moved everything back into my other account at my credit union.
I let the account balance go negative, then they must have still been pissed that I moved my business elsewhere, since they started piling on $5 per day for being negative. Then they got antsy and sent me collection notices.
Anyway, that's your gubbermint offices working for you...or just working you over.
Pay up or they sue or put a lien on you. But, at least talk to them and let them know you care enough to pay this off, assuming someone didn't grab a hold of your account number and try to run things up. Even in that case, don't think a bank will feel too sorry for you.
I had something like that with a bank I used that was acorss the street from my old restaurant.
I had an ex-employee wait a month to get her check when I wasn't around and she tried to cash it twice after I had moved everything back into my other account at my credit union.
I let the account balance go negative, then they must have still been pissed that I moved my business elsewhere, since they started piling on $5 per day for being negative. Then they got antsy and sent me collection notices.
Anyway, that's your gubbermint offices working for you...or just working you over.
Pay up or they sue or put a lien on you. But, at least talk to them and let them know you care enough to pay this off, assuming someone didn't grab a hold of your account number and try to run things up. Even in that case, don't think a bank will feel too sorry for you.
New User
Joined: Jan 2008
Posts: 0
Likes: 24
We had 2 of those that I had to take care of.
They were dormant savings accounts for Michelles kids.
I went in there And Explained it to them.
I got them to waive all the monthly fees because it was explained to them years ago these accounts were deposit only and required no real accounting fees.
I had also explained to them that is was just another example of Bank FEES gone awry and that the bank makes a tremendous amount of profit every year that surely they don't need Hit On a saving account for fees that aren't required
The accounts werte closed a week later with ALL the funds recovered.
They were dormant savings accounts for Michelles kids.
I went in there And Explained it to them.
I got them to waive all the monthly fees because it was explained to them years ago these accounts were deposit only and required no real accounting fees.
I had also explained to them that is was just another example of Bank FEES gone awry and that the bank makes a tremendous amount of profit every year that surely they don't need Hit On a saving account for fees that aren't required
The accounts werte closed a week later with ALL the funds recovered.
Thread Starter
|
Posting Guru
Joined: Jun 2004
Posts: 1,808
Likes: 0
From: Cincinnati Ohio
I tried to talk to them they said I couldnt close my account or do something where it stopped the daily overdraft fees of $6 a day, they basically said all I was able to do was pay it off.
Post Fiend
Joined: Oct 2003
Posts: 9,176
Likes: 4
From: Western Central NV
If it was me I would get a old of the manager explain your side, and then offer a settlement right then and there, and pay that amount. What I mean is offer them half if they will write off the other half. I've always been able to find a middle of the road solution.
FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
I would have immediately said "I spoke to someone at the bank back then, and they closed it for me. Why do I owe you money when it's YOUR FAULT it's not closed!".
If that's the way it happened
In the past with my banks, I let them suck out the last few dollars for monthly fees, and they just close the account when it goes negative.
I've never seen a bank actually charge you like that per day. Learn something new everyday I guess...
If that's the way it happened
In the past with my banks, I let them suck out the last few dollars for monthly fees, and they just close the account when it goes negative.
I've never seen a bank actually charge you like that per day. Learn something new everyday I guess...
New User
Joined: Jan 2008
Posts: 0
Likes: 24
Was there a cheque or a normal debit involved that sent the amount into the negative figures or was it service fees that took it there ?
Trending Topics
Thread Starter
|
Posting Guru
Joined: Jun 2004
Posts: 1,808
Likes: 0
From: Cincinnati Ohio
not that I recall, I think they charged a monthly service fee or something and that took it below 0 and charged the $30 overdraft fee then everyday it added $6 for the negitive balance. Do you think they would go for me telling them to stop everything where it is and I will pay it off?
FTE Stories
Ford Trucks for Ford Truck Enthusiasts
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Verdad Gallardo
Top 10 Most Expensive Ford Trucks Ever Sold on Bring a Trailer
Joe Kucinski
2027 Ford Super Duty Buyer's Guide (Every Model, Engine, & Package)
Brett Foote
Top 10 Ford Truck Tragedies
Joe Kucinski
AEV FXL Super Duty - the Super Duty Raptor Ford Doesn't Make
Brett Foote
Lobo Vs Lobo: Proof the F-150 Lobo Should Be Even Lower!
Michael S. Palmer
Ford's 2001 Explorer Sportsman Concept Looks For a New Home
Verdad Gallardo
10 Best Ford Truck Engines We Miss the Most!
Joe Kucinski
2026 Shelby F-150 Off-Road: Better Than a Raptor R?
Brett Foote
New User
Joined: Jan 2008
Posts: 0
Likes: 24
I wouldn't pay it.
It's all Bank fees.
It appears from your description ....It's not like you withdrew $80.00 to send it anymore than $20.00 overdrawn and then said to heck with bringing it back to a positive amount thereby being irresponsible.
I battle against Un-warranted bank fees constantly.
It's all Bank fees.
It appears from your description ....It's not like you withdrew $80.00 to send it anymore than $20.00 overdrawn and then said to heck with bringing it back to a positive amount thereby being irresponsible.
I battle against Un-warranted bank fees constantly.
FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
Originally Posted by rmalottwtes30
not that I recall, I think they charged a monthly service fee or something and that took it below 0 and charged the $30 overdraft fee then everyday it added $6 for the negitive balance. Do you think they would go for me telling them to stop everything where it is and I will pay it off?
Tell them screw off. They should have just closed the account. Unless this is something new that they (and by "they" I mean Congress/Senate) decided to de-regulate like they did with credit-cards.
It's a gamble, I'd think, whether they turn it over to collections or not, but before they do, tell them directly screw off, put it in writing, do it with a registered letter so you can prove it was delivered, etc.
Or just pay the money and walk away.
Thread Starter
|
Posting Guru
Joined: Jun 2004
Posts: 1,808
Likes: 0
From: Cincinnati Ohio
If I decided not to pay it they will keep it open and money will build up wouldnt that affect my credit or anything, I also have another bank account with another bank htats in good standings. Yes all the things are all service/overdraft fees. I was told by them that they cant not close my account because it has a negitive amount.
FTE Leadership Emeritus
Joined: Jul 2002
Posts: 42,561
Likes: 423
From: Long Island USA
Originally Posted by rmalottwtes30
If I decided not to pay it they will keep it open and money will build up wouldnt that affect my credit or anything, I also have another bank account with another bank htats in good standings. Yes all the things are all service/overdraft fees. I was told by them that they cant not close my account because it has a negitive amount.
Sounds like you got a newbie and their real problem is the computer won't let 'em.
Are you talking directly to the branch, or a 1-800 number that goes who-knows-where? You might have better luck calling the central 1-800 number. Or if you already have done that, try face-to-face at the branch with the MANAGER.
Government Teat-sucker
Joined: Oct 2003
Posts: 9,748
Likes: 1
From: Virginia Beach
If I understand this correctly, you aren't in any real position to pay a debt of this size, right? If you can't afford to pay off a $100 dollar debt, $6 per day seems astronomical. Go to the bank and explain to them that this is simply never going to go away, as you cannot afford it. They should at least work with you to get rid of it. (Don't offer to pay them anything. Like Dennis said, they don't need your tiny little sum of money.) If the only way they'll work with you is to have you pay it off, then they gotta at least stop adding to it, or you'll never get back into the black.
Lead Driver
Joined: Jul 2004
Posts: 5,946
Likes: 62
From: in the woods of MA
Remember, everything is negotiable - you just have to find the right person to negotiate with.
And once that's taken care of, for crying out loud - find a bank that doesn't charge fees for accounts like that - there's plenty of them. That's is just old-style banking, went out in the 80's - find a modern bank (or credit union) that actually has some respect for their customers...
And once that's taken care of, for crying out loud - find a bank that doesn't charge fees for accounts like that - there's plenty of them. That's is just old-style banking, went out in the 80's - find a modern bank (or credit union) that actually has some respect for their customers...