I have a job. But it looks like I will need nearly $5000 to pay for my mistakes, and much sooner then I can come up with it. Does anyone know of a service that will help me with this? I have awful credit (now), and no family to help. I am willing to work hard to fix this; I cannot face possible imprisonment.
2007-01-23 02:39:10 · 11 answers · asked by a_watched_pot_boils 1 in Business & Finance ➔ Credit
You better contact your bank and the people you wrote these checks to ASAP and get started working out payments, or you'll be ankle deep in legal fees and possibly headed to jail.
2007-01-23 02:43:27 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
Firstly, you cannot go to deal for bouncing checks unless they can prove intentional fraud. The first thing you need to do is get another checking account with another bank, because the bank you are at now is just going to put any money you give them towards the fees. It will give you a fresh start so you can correctly keep track of your debt, too. Secondly, you need to close the account and settle the debt. Because you've bounced so many checks, they will be glad to see you leave, probably reduce the amount of fees, and maybe even put you on a payment plan. You need to explain to them that you have intentions to pay them their fees, but can't pay that much that soon. Tell them that you are considering filing bankruptcy, and that they'll get a lot more from you if they work with you.
If the bank won't cooperate, your best move is to pay the fee debt off with a credit card. 5k on a card will be about 100/month in interest, so be aware. Even with your recent bad credit, someone will give you a card if you have good credit before this.
I would also suggest a debt counciling service. They may be able to lower your interest rates, consolidate your debt, and bail you out.
2007-01-23 10:55:16 · answer #2 · answered by none 3 · 1⤊ 1⤋
First of all you need to make a huge lifestyle change. If you have a job and still have to write bad checks, you are paying for too many things you do not need. I would first talk to your bank and see what they can do for you. If you still owe them, try to work out a payment plan to pay them off. There are quite a few places willing to give loans to those with bad credit, but you are going to pay a high interest rate on it. If you have a vehicle try to take out a loan with your vehicle as collateral, or try to find a really good friend to cosign with you. There are also a lot of credit counseling agencies that may be able to help, but be careful. Some don't help very much. I use careonecredit.com. They are a not for profit agency, but they will ask that you make a donation each month, but you don't have to. I only donate $1.00 each month.
2007-01-23 10:51:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I'm not sure what you were buying but take it all back! If you can get your money back on even a few of the items you can lower your potential interest payments.
Then if you can qualify for a low interest credit card, that may be your best bet to settle the debts to avoid bankruptsy or jail.
You may have to get a temp part time job too until this goes away. Weekend pizza dilivery is always an option.
Good luck and do not go to a paycheck advance service! They WILL rip you off!!!
2007-01-23 10:46:31 · answer #4 · answered by TJS 2 · 0⤊ 0⤋
I made a mistake a few years back I had three debit card purchaces bounce all only amounted to less than 15 dollars but the fees were over 100 dollars I was devistated because I did not have the money I tried to reason with the bank and the eliminated one charge. It is a mistake I never have and never will again. Talk to your bank see what you can do and good luck!
2007-01-23 10:43:32 · answer #5 · answered by peeps 4 · 0⤊ 0⤋
If you stole 5000 worth of merchandise you wouldn't need financial help, you would hire a lawyer. If any of those checks were for material goods then thats what you did. The bigger problem that you seem to have is why you wrote 5k in bad checks. If it was for material goods then you are either too immature for a checking acct or you lack the moral fiber to understand that stealing is wrong. If the 5k was used to pay bills you need to evaluate you income vs. your lifestyle
2007-01-23 14:41:24 · answer #6 · answered by raymond r 2 · 0⤊ 0⤋
Not sure what you bought but if you can return those items that would be an awesome idea.
If you bought things that you dont need (but have been used) maybe you can register and sell them on ebay and recoup some of your losses.
GO to the bank and ask for the bank manager.
He/she can assist you in lowering the bank fees (if they choose to do so)
THe most important thing to me would be to find out what motivated you to do this so that you can make sure that you wont do it again.
Dont feel so bad about it as quite a few people do this around the holiday for a multitude of reasons.
If you can figure out why you did this, you can be sure that it wont happen again.
GOOD LUCK!
2007-01-23 10:51:37 · answer #7 · answered by kissmymiddlefinger 5 · 0⤊ 0⤋
You are in deep shite. You will be lucky not to do jail time. Writing bad checks is the same as stealing they will be well withing their rights to have your butt arrested. The merchants you wrote these checks to may be able to sue you and collect up to three times the original value. If you want to avoid jail you should see all the merchants and offer restitution. You will probably need to get a second job and start paying as soon as possible.
2007-01-23 10:51:03 · answer #8 · answered by PRS 6 · 0⤊ 1⤋
You should go to www.attorneykennugent.com or call 1-888-KEN-LAWW. I went crazy and spent about $3000 one time on a bank account with $27 in it. I called a lawyer, and he worked out a payment plan with the bank and the credit company.
2007-01-23 10:54:43 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Uttering and Publishing carries 3-5 year jail sentence per violation...we'll be seeing you in say 300 years. Don't drop the soap, Homey!
2007-01-23 10:49:30 · answer #10 · answered by Laughing Man Copycat 5 · 0⤊ 1⤋