What is the name of your state? Illinois
I had an overdraft several years ago that I paid monthly. I suddenly received a notice that it was paid when I knew that it was not. I called the bank and they just informed me that it was paid in full. I assumed they would catch the error and contact me. As it turns out, the account had been transferred to a new credit card account but the bank sent all of the statements to themselves (yes, it is weird). When I didn't pay it, the account was sold to a collection agency, who never contacted me either. 2 years later I discovered that my credit was trashed and started researching this. After a year of calls and letters, the bank has agreed to buy back the account and now expects payments. I have a very high interest car loan and a high interest credit card that I am stuck with due to my credit. They will clean up my credit report, but I don't think I should have to pay the $900 since they have cost me at least that. Is it worth the trouble to fight it?
I had an overdraft several years ago that I paid monthly. I suddenly received a notice that it was paid when I knew that it was not. I called the bank and they just informed me that it was paid in full. I assumed they would catch the error and contact me. As it turns out, the account had been transferred to a new credit card account but the bank sent all of the statements to themselves (yes, it is weird). When I didn't pay it, the account was sold to a collection agency, who never contacted me either. 2 years later I discovered that my credit was trashed and started researching this. After a year of calls and letters, the bank has agreed to buy back the account and now expects payments. I have a very high interest car loan and a high interest credit card that I am stuck with due to my credit. They will clean up my credit report, but I don't think I should have to pay the $900 since they have cost me at least that. Is it worth the trouble to fight it?