Fell for wire transfer fraud w/ check.?

Question

Before you start; I know, believe me I know.

Moving on, I'm not really worried about catching the person or persons involved, but more worried about my credit and bank account. I'm now overdrafted by 3400 dollars and have no idea how I am going to pay that back. I'm currently a full time college student with a part-time (25-30 hr) job so you can see that paying 3400 dollars within 60 days just isn't gonna happen. I was wondering what I could possibly do to try and come up with that amount of money with some sort of payment plan that I can actually afford (The bank said something like 300$/wk which is WAY out of my pay range). I've been told to get a credit card but that's almost impossible to get that limit allowed on it since I have no credit yet, also has proved the same with the few banks I tried to get a loan from. Any help would be appreciated, thanks in advance.

Answer 1

Usually, if you file a police report, your bank will re-credit the money to your account. I don't know about your bank specifically, but most will.

Check with them.

Cheers

Answer 2

Well you first have to file a police report. Was this an on-line fraud/scam? You did not know it was a fraud and the bank should try to help you. Have you filled out an affidavid form with your bank? This will give you provisional credit for 45 or 60 days. It will bring your acount back to its original balance before the fraud happened. Once you fill out the affidavid, then it becomes the bank's responsibility. If they cannot find the crook who did this to you within the 45 or 60 days, then the bank is out the money. No need to worry about the bank. They have insurance to cover their losses. But for the bank to have you pay $300 a week is outrageous. Go fill out the affidavid at your local branch. If they deny you, then I would consider legal action against the bank.

Answer 3

You may be liable for fraud. This is serious business, same as bouncing a check. First sit down with a SENIOR bank officer and tell them exactly what you did. Plead stupidity and be remorseful. They may come up with a workable solution. If not, ask a relative or close friend to loan you the money. Maybe they could co-sign for a credit card advance at a fair interest rate. YOU DO NOT WANT TO SHAFT THE BANK AND HAVE THIS SHOW UP ON YOUR CREDIT RECORD. Criminal charges could apply under certain circumstances. Don't let it get that far. Get a part time job on the weekends and pay this off ASAP. You did mess up and will have to get yourself out of it one way or the other. Good luck!

Answer 4

Step 1) Get organized.
Keep copies of everything in a folder for easy access.
The letter/email/whatever they sent you. The letter(s) from the bank, any requests/offers they have made for settlement, and any reciepts You have for Money Orders/Cashiers Checks. Contact whoever issued it and see if they can provide you with a copy of the payment reciept (or any documentation showing it was cashed & prefferably WHERE).

2) File the police report like everyone else has said. It will allow you (if needed) to demonstrate to a Judge that You were victimized and have reported the crime to the proper authorities.

3) As suggested talk to the Bank's top guy (Branch Manager, whoever) IN PERSON and let them know what has happened (show them the letters/reciepts/police -reports/etc) and at offer to repay at whatever rate You CAN.

4) Let Them know you are aware You are legally obligated to repay it within 60 days, but will be unable to do so (bring a paystub or two, and/or last years Tax Return). Make your offer(s) in writing and ask Them to accept or decline by signature. Then You have documentation to show You were willing to settle the debt within your means and they were unwilling to accept.

Banks have rules for front-line Tellers/Customer service people and that can make them VERY unhelpfull. The Branch manager is usually more flexible and may (or may not be) more understanding of issues like this...

Answer 5

offer the bank the same terms they'd get on a credit card at 18% APR [I know, they'll want 30% but stick to your guns]

that's about 75 a month until forever [at 18%] -- BUT will become much more manageable once you graduate and begin working full time.


what is the bank's other choice? it takes three creditors to file an involuntary petition in bankruptcy against you and the sum is too small for them to even be interested in doing that.

collection? that'll get them maybe 25 cents on the dollar, more likely 15 or even 10

Answer 6

they told you you won the UK lottery didnt they? These guys must be making $100,000 per month with all the people i have heard fall for this. Back in my day the biggest scam we ever came across was to work at home making 1000 dollars a week stuffing envelopes. You only got ripped for for about 39 dollars with that one.

Answer 7

im sorry that happened to you, and we all learn from our mistakes, i think your bank would work with you like a loan that you didnt get and it could go against your credit report, it never hurts to ask them

Answer 8

I agree with you and appreciate you supplying this information. Not for my self because I am a bit more reserved than my friend which is the one about to go through with this "Loan" with them...

Answer 9

Your bank should protect you from fraudulent transactions. i would contact the police and the bank should waive the deficiency. Good luck!

Answer 10

since when do you need credit to get approved for a credit card, get a credit card, borrow from friends/family get a loan.
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