Checking Account Problems

[SpasticPat]

My bank account is in the red, I'm living from paycheck to paycheck, and have no savings. The bank wrote to me that if I don't pay back the amount by mm/dd/yyyy (that's how it said it on the letter, they didn't put a date in) that it will be reported to national credit check people and a 3rd party collection agency. I don't get paid til next week. If I continue to put what I have towards this account each week without cashing any bad checks and all, will it be ok? They're charging me $5 a day right now, but in two weeks, with the hours I've been getting, if I put all my checks into the account, it should take care of it.
Some lady from the bank called very rudely and told me that if it wasn't received soon it would be charged off. I really don't know what to do. My parents won't lend me this money, I get paid around 200$ a week, and like I said, I'm living paycheck to paycheck. I am willing to do anything legal to get this money in the bank, but I have just enough in my wallet for food and gas right now, that's it. I explained to the lady on the phone that I would put my entire check into the bank Wednesday, and it would cut the balance in half, and then I'd put the rest in the next week. By then it would be down below $100 and I could easily put the rest in. But she, being rude and kind of short with me said that if it wasn't received soon, it would be charged off. So what do I do? I'm scared kind of and don't know what to do at all. Thank you for your help.

[boosami]

First of all, how did you get into this situation, and are you making changes so that you will avoid these problems in the future?

What is the bank, if you don't mind me asking? I know you are overdrawn, but you are obviously trying to work with them and there's no reason for them to be rude. I think you are doing the right thing. Hopefully the bank will give you some leeway and let you bring your account back into the black.

Now the bad stuff. If they do close your account and charge it off, it will make life much more difficult for you for a while. Along with a collections agency coming after you, your credit will be crippled and the bank will most likely "black list" you so you will not be able to get another checking account easily.

I hope they change their attitude and are willing to work with you instead of against you. Good luck!

[SpasticPat]

It's first commonwealth in indiana/vandergrift pa. I wrote some bad checks and it's my own fault. I told her I would put my next three paychecks into the bank, and that would like I said, with the $5/day fees, bring it down to being stable, but she said they need it today. My parents don't have the money to lend me, and I don't know what to do. It's my own fault and stupidity. Work has been cutting hours so hopefully they won't be cut to badly next week.

[poundwise]

What is the total amount you need to deposit?

[SpasticPat]

about $600 blah

[Inkstain82]

Can you afford to not have your next three paychecks? Will you just get yourself in much, much deeper trouble trying to miraculously save your checking account?

If your account is charged off, you will be put on the "Chex" credit check system, which will more or less mean no bank will let you open a checking account for the next five years. That's bad, but you have to understand that you are in very deep at this point, and bad things are going to happen. Sometimes, people think they have things under control when they don't, and they make things worse trying to keep up the appearances and avoid the final consequence of a long series of bad decisions.

If you put three straight paychecks into the bank just to even this account, what else is going to fall behind? What will be in collections or shut off next month to save this? Will you just end up in the red again next month?

At some point, you may just have to draw a line in the sand and say "no more juggling," accept the consequences and begin to rebuild from there. Without knowing more details, I'd say let them close the account, do without the checking account you apparently aren't responsible enough to handle, and pay them back over time. That's what I did in the exact same situation.

[boosami]

Explain to her that there is no way you can get it to her today. She can either lose your account and the owed funds by charging it off and never seeing all of that $600, or bend a little and work with you to get the full amount bank and keep your account at the bank.

[creditcardfree]

I would be proactive and call each day to communicate your plan with them. Tell them how much to expect and when. Ask them to make a note of it on your account. If they start being rude, simply say, I won't continue to talk to you if you are rude. And hang up, if it continues. But still call everyday with your plan.

Is there anything you could sell to make a few small payments until payday? Used books, plasma?

[Inkstain82]

You don't get to the point of account closure, generally, without having a history of problems and being way past the point where an ordinary person would have paid back the debt. I really don't think the rudeness is an issue here. He has to act in his own best interests, regardless of how he feels about being treated a certain way.

[snafu]

If you put your entire pay into the bank, how will you pay for gas and food?
What are you prepared to do to avoid repeating this problem? What are you willing to do to earn extra money? What part time work or service can you find for evenings or days off?

Do you recognize you are living beyond your means? Your only choices are to reduce spending or earn enough to continue your lifestyle. Living on $800. a month will be a big challenge.

[ernesto sidi]

I would go into the branch and ask to speak to an assistant manager. explain your situation and ask to be put on a payment plan, with interest and all. That way, you get to pay it off at a slower pace, they don't charge it off, and you end up saving face with the bank. At this point, if they don't play ball then they lose all of it. Tell the bank manager that you are prepared to walk away and not pay it back if they cannot facilitate a payment plan.

One more thing, before you do this, go into another bank and open another checking account. All it would take is $25 to open. Then, if your bank doesn't play ball, walk away and switch banks. By the time they write off what you owe, you will have an account at the new bank and they will not close down your account.

In the future, to make sure you don't write bad checks, stay away from using your check book. Use cash only, at least until you get your finances in order.

Ernesto

[m3racer]

I won't speculate what you mean by "rude". But, writing bad checks is criminal. I think the bank has every right to take that tone with you. Unfortunately, you're screwed. They don't have to negotiate with you. They hold all the cards. I would try your best to repay the $$ and take it as a life lesson. BTW, I couldn't imagine how those that received your "bad" checks feel like doing to you. You're lucky if they don't file charges against you for writing "hot checks."

[boosami]

Originally Posted by m3racer

But, writing bad checks is criminal.

Come on, plenty of people have accidentally bounced checks and they are not classified or penalized as criminals, regardless of what the law says. It's so common that grocery stores and other retail places state they will charge you extra fees for any returned checks. If it were an absolutely enforced, punishable offense they wouldn't need to do that. The law really exists for people doing serial check fraud--the real criminals. Maybe OP was forced to cut the checks and expected a paycheck to be processed in time for the checks to be cashed.

The fact that OP wants to work with the bank to pay back the deficit is enough proof for me that he's not just trying to avoid payment as a criminal.

[m3racer]

Originally Posted by boosami

Come on, plenty of people have accidentally bounced checks and they are not classified or penalized as criminals, regardless of what the law says. It's so common that grocery stores and other retail places state they will charge you extra fees for any returned checks. If it were an absolutely enforced, punishable offense they wouldn't need to do that. The law really exists for people doing serial check fraud--the real criminals. Maybe OP was forced to cut the checks and expected a paycheck to be processed in time for the checks to be cashed.

The fact that OP wants to work with the bank to pay back the deficit is enough proof for me that he's not just trying to avoid payment as a criminal.

Well than the OP should give us the total # of bad checks written. I don't write checks and HOPE money will be in my account when its cashed. You've given nothing but a lame duck excuse for this dead beat. I've been a victim several times this year of people writing "bad" checks and it more than irks me.

[croland]

I agree with Ernesto about talking with the branch manager, especially at the bank you opened the account in. It's better to get face to face with someone and when you do it over the phone, you are just another account.

Branch managers have more options than people over the phone and with the amount you just listed, I don't see why something couldn't be worked out.

[nmboone]

m3racer, calling the OP a dead beat is completely out of line. Mistakes like this happen all the time to really good people. I myself had accidentally written three bad checks in a row 8 years ago (I was pretty young). My bank certainly didn't act like this bank is but I got charged a lot of fees and lived without much for a few months (and got a second job which practically killed me. ) Sometimes like someone else said before me it's just a matter of what time the check gets put through the bank. I would hardly consider myself a deadbeat, then or now, as I've always worked very hard. People writing checks knowing there is no money in their banks is another thing. Not to mention OP seems to really want this matter to be resolved

Anyway OP, Ernesto has offered some excellent advice in this case. Just pay what you can, and remember things will get better if you really start watching your money from now on. I know it probably seems hopeless but it can definitely be done and you will get through it.

Also can more money be obtained through work, maybe a better job or more hours? $200 a week isn't very much, no offense.