MY NAN WENT INTO ABBY NATIONAL TODAY, AS SHE DOES AT SAME TIME EVERY MONTH TO PAY HER MORTGAGE.. SHE IS NOT ONE TO USE ANY METHOD BUT PLAIN OLD CASH WHEN PAYIN ANY BILLS AND SHE IS HAPPY THAT WAY HOWEVER SHE WAS IN THERE AN HOUR NEARLY TODAY AS THEY COULDNT ACCEPT JUST CASH SO IN THE END THEY HAD TO WRITE A CHEQUE TO THEMSELVES AS WELL AS ACCEPTIN THE CASH AND SED SHE NEEDS TO PAY BY CHEQUE HERSELF FROM NOW ON... IS THIS AGAINST ANY LAW??
2007-06-25 10:55:28 · 4 answers · asked by sweet surrender 2 in Business & Finance ➔ Personal Finance
Actually, cash is "legal tender for all debts, public and private". The US Treasury states that there is not law requiring private businesses to "accept currency or coins as for payment for goods and/or services." Because you already have a debt and are not making a purchase, you can argue that if the bank refuses the cash, they have refused a legal offer of payment. That would make any late fees and related charges invalid. As a practical matter, can you convince your nan to open a 'no fee' checking account and deposit just enough to cover the mortgage payment? I bet they won't even require a check if she pays directly form an account at the bank.
2007-06-25 13:33:52 · answer #1 · answered by STEVEN F 7 · 1⤊ 0⤋
A Home Equity Bad Credit Loan is a 'Lump Sum Loan' that uses the equity in your home as collateral. In other words what you’re doing is borrowing against your home; you’re placing your home on the line if you default on the loan. I think you are being rejected because you might have a bad line of credit. Be sure to check with your mortgage specialist.
2016-04-01 04:11:38 · answer #2 · answered by ? 4 · 0⤊ 0⤋
I wouldn't say it's against the law...but just the bank being a***holes. If they have created the "law" then there's not much you can do except maybe change your bank.
Probably some middleclass t**t who's just been promoted and had to come up with a revolutionary idea to cause the most disruption to regular customers.
2007-06-25 11:03:42 · answer #3 · answered by ~☆ Petit ♥ Chou ☆~ 7 · 1⤊ 0⤋
Abbey is the strange thing. They don't do very simple things and all payments are specially. try Barclay's if it is possible. Or Lloyd's TSB. Abbey, Nat West are the worst ones. And make a complaint about your Nan! They are quick to count dividend but service is awful
2007-06-25 11:03:10 · answer #4 · answered by Everona97 6 · 0⤊ 0⤋