So, I owe my bank money due to overdrafts and I can't afford to pay them in the time they expect. I have kept sending emails stating I do wish to pay, yet I am asking for an extentions before I put any money down.
All of my emails have not been responded to.
I have heard that if bill collectors ignore or turn down payment, then the whole debt with them can be nullified.
Is this true with banks as well?
links and info will help. I live in Texas by the way
2007-05-09 14:18:50 · 6 answers · asked by Mercury 2010 7 in Business & Finance ➔ Personal Finance
Then, do you think the bank to allow an extentions on payments without sending it to collections and
whats the best way to go about convincing them to?
2007-05-09 16:58:47 · update #1
No... Just because they are not responding to your email doesnt mean you can get out of the debt ---- It just means they have poor customer service.
What you need to do is "pick up the phone" and call the bank and talk to someone. Explain your problem to them and see if you can make arrangments to pay off the debt.
Trust me - I work in Bad Debt and this is not something you should ignore just because they are.... If they take legal action against you it will cost you more money not to metion a lot of headaches and bad credit reports...Dont go there!
Face your problem head on and if you have to speak to someone in Managment at the bank --- Do it.! I am sure that they will not be happy to find out your emails were ignored.
2007-05-09 16:18:13 · answer #1 · answered by Sammy&Pete 3 · 0⤊ 0⤋
k, The problem your having will remain dorment on the Banks behalf.
If your aware that you have overdrafts then their debate will be that you have been notified. Read their contracts.
Overdrafts are normally rolled over to collection agencies and posted as offsets..they will reflect on your credit report.
Also, if you seek to open another bank acct it will not be possible if the Principle bank where the overdrafts occured has already submitted a claim to the system.
My advice to you is to pay them in installments via money order, or cashiers check. Keep all your receipts.
Once your done with payments. Check your credit report and make sure that this incident is not reflecting on the report.
Hope this was helpful...Good luck and God bless!
2007-05-09 21:41:11 · answer #2 · answered by sandy d 2 · 0⤊ 0⤋
Banks are not forgiving if you owe them money. After awhile they simply turn it over to collections agencies.
When bill collectors refuse to accept other than full payments, they want full payments,and making partials will NOT wipe out the debt. For example, if they want $$100.00 they want $100.00. Not $ 13.00 or even $ 99.00. And they can return your
$ 13.00 check and say, We said 100.00, where is it?
Sending emails won't get their attention.
Have you gone to the bank and talked to them??? If not, then they don't think you're very serious about this. I don't.
You have a VERY serious problem on your hands. Listen to what they have to say.All of it, not just the part you want to hear.
2007-05-09 21:54:09 · answer #3 · answered by mdk 3 · 0⤊ 0⤋
You need to get away from e-mail and use snail mail, sending certified and for signature. That's Step One.
As for the rest, I don't know, but you should call the consumer hotline at the TX Attorney General's office.
2007-05-09 21:27:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I would suggest going to the TX website and seeing what they have to say.. I think they did away with that possibility after the businesses all paid their kickbacks, ooops, lobbying fees, to get that done away with..
2007-05-09 21:26:56 · answer #5 · answered by chuckufarley2a 6 · 1⤊ 0⤋
I sure hope not,,
2007-05-09 21:27:06 · answer #6 · answered by Jo Blo 6 · 0⤊ 1⤋