owing bank money

[babs30554]

What is the name of your state?GA

I lost my job several months ago my checking account was closed because i was overdrawn. several bills came automatically from my account and the bank didn't pay the money just charged their 30.00 isf charges to make a long story short i owe the bank 520.00 which i do ot have the money to pay i got a call from a collection agencey telling me i had 48 hours to send the full amount. i told them i could not send the full amount but i was willing to set up a payment paln they said that could not be done. I asked them what would happen after the 48 hours and he told me that he could not say anymore and the conversation ended. I was wondering what will happen now!

 

[Veronica1228]

What is the name of your state?GA

I lost my job several months ago my checking account was closed because i was overdrawn. several bills came automatically from my account and the bank didn't pay the money just charged their 30.00 isf charges to make a long story short i owe the bank 520.00 which i do ot have the money to pay i got a call from a collection agencey telling me i had 48 hours to send the full amount. i told them i could not send the full amount but i was willing to set up a payment paln they said that could not be done. I asked them what would happen after the 48 hours and he told me that he could not say anymore and the conversation ended. I was wondering what will happen now!

My crystal ball is in the shop, so it's hard to say. They could continue to try and collect, they could sell the debt to another CA or they could sue you to win a judgment against you.

Your guess is as good as mine.

 

[zippysgoddess]

Yeah, and my cat swatted my Magic 8-Ball of the desk, cracked it, and all the water leaked out!!

 

[stewartndeep]

The same type of thing kind of happened to me. Even after I paid the bank off, they have this new chex systems that will hem your account up for years. I believe contrary to what they say, they will just harrass you for a long while. Your credit is definately jacked up by now. $540.00 I think they have bigger problems than that. However, Wachovia is trying to collect on a debt over ten years old from me. I laugh at them every time. Even if they take you to court, you can't give what you don't have. Trust me, in time they will negotiate, but you might want to take care of it before then. Don't let debt fears consume you!!! Most Americans have outstanding debts!!!

 

[Veronica1228]

The same type of thing kind of happened to me. Even after I paid the bank off, they have this new chex systems that will hem your account up for years. I believe contrary to what they say, they will just harrass you for a long while. Your credit is definately jacked up by now. $540.00 I think they have bigger problems than that. However, Wachovia is trying to collect on a debt over ten years old from me. I laugh at them every time. Even if they take you to court, you can't give what you don't have. Trust me, in time they will negotiate, but you might want to take care of it before then. Don't let debt fears consume you!!! Most Americans have outstanding debts!!!

ChexSystems is NOT new, it has been around for years. Once a banking customer has been reported they stay on Chex for 5 years and they will have difficulties opening an account anywhere during that time.

Again, just to clarify, Chex is a reporting agency not a collection agency.

 

[zippysgoddess]

They have definitely been around for years. Let's see, when my son was 2, we wrote a check for groceries, and diapers we desperately needed, we wrote it a day early, as my DH's check was supposed to be in the bank the following day. Well due to a screw up, the check was not there, so our grocery check bounced. We did take care of it as soon as we got his check, however the store neglected to report to the bank that we had paid it, and it was turned in to Chex systems. It was such a hassle trying to get it straightened out, even though we had the proof we paid it, that our son was 7, and it came off by itself, before we ever got it fixed!!