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collection agency

Old 02-05-09, 04:08 PM
  #1  
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collection agency

Well the bank decided to screw me over (bank of america) and I repeatedly tried fixing it, but it was clearly bank error and not my fault and there was no way I was going to pay the charges. They sent it to the collection agency, and I was wondering.. what can the collection agency do if I decide I won't pay, I just talked to them and told the lady it was BOA fault and I don't feel I should have to pay it, she goes "ok thank you jon", and I hung up. Can they file criminal charges or anything? I know my credit can/is going to be ruined. It's been a few months since they've been calling, each time they call they say it hasn't began to affect my credit. I think it's a line of bullcrap.
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Old 02-05-09, 04:12 PM
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i am not sure, bank of america has charged me overdraft fee while the account was still positive before. i guess it helps I am not the only person they are doing it to.
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Old 02-05-09, 04:14 PM
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2 things I've learned from bank of america.

1. They don't give a flaming crap.
2. They will charge you rightfully, wrongfully, and/or for the fun of it.

My problem stemmed from going in and getting a checking account and with it came a credit card. I had a friend come with me, and he witnessed the whole thing. The accountant who was a lady told me that if I was to go into the overdraft on my checking, it would go into a temporary bank credit spot and I'd be charged 6% a day on what I'd gone over. I asked many questions to make sure because I'd never heard of overdraft protection like this. My friend recalls it the same way I did. Later on I rent a movie from one of those dollar rental places and I forget to return it for 5-6 days. It automatically charges a dollar a day, ok no big deal 5-6 bucks over.... well I end up with 200ish overdraft charges. I call up the corporate, turns out the buffer for the overdraft plan comes out of the credit card... my credit card was maxed out because I had put a car rental on it. Misunderstanding I would have thought they'd take off the charges considering they were 1$ charges and obviously I hadn't spent some insane amount into the negative. I call up BOA I ask why the card didn't cut off after the original -amount, the manager tells me "sorry sir the card can't think for you it doesn't have a mind of it's own", the guy was a rude butt. Numerous times they nicely tell me basically screw off your going to give us money for free. I mean, the entire problem was because of what the bank accountant told me originally(philipino lady very hard to understand her english ug)

Last edited by Pheard; 02-05-09 at 04:23 PM.
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Old 02-05-09, 04:19 PM
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Send a registered letter to the president of the bank, informing him that you intend to ask your government officials (rep and senator) for help. And, that you might also file suit in small claims court.

Don't forget to write to the local newspapers....
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Old 02-05-09, 04:20 PM
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First and foremost they can't file criminal charges unless someone explicitly wrote a hot check. This is a lie that is used often to get people to try to pay.
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Old 02-05-09, 04:20 PM
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I had issues with a bank (Fifth Third) back in Cincinnati. They were charging overdraft on positive balances, delaying deposits, holding checks for bulk processes cashing, etc.

I had my lawyer write them a letter and suddenly all of their little games stopped.
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Old 02-05-09, 04:22 PM
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If you have the cash, +1 on the attorney thing. Banks are trying every dirty trick in the book to squeeze out a time.

Long term -- move your stuff to a credit union. Credit unions are doing pretty darn good even in these times.
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Old 02-05-09, 05:02 PM
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If you have the cash, +1 on the attorney thing.
If you're really lucky, your employer offers a legal group like ARAG. I pay $7/month, get a wide selection of lawyers with all sorts of specialties, and don't pay anything except court filing fees.

Long term -- move your stuff to a credit union. Credit unions are doing pretty darn good even in these times.
I luvz my credit union. Especially after how well I was treated when someone stole my card info and made a bunch of fraudulent charges, I can't say enough good things about my credit union.
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Old 02-05-09, 05:08 PM
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i'm sure they are screwing you over within the insanely complicated agreement you had to sign. small print is a beeoch.
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Old 02-05-09, 05:10 PM
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even more of a beetoch is the collection agency though. the bank, now that your debt has been sold to a collection agency, has pretty much wiped their hands clean of you.
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Old 02-05-09, 05:13 PM
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Jon are you sure this isn't stemming from that time the teller overpaid you and you didn't pay him back? It sounds like the same amount of money... I betcha they found you once you opened an acct there.

If not....


Usually an overdraft protection falls into the savings acct, not the credit card. Do you also have a savings there? And how did you get a credit card with no job?
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Last edited by Siu Blue Wind; 02-05-09 at 05:21 PM.
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Old 02-05-09, 05:50 PM
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Originally Posted by Siu Blue Wind View Post
Jon are you sure this isn't stemming from that time the teller overpaid you and you didn't pay him back? It sounds like the same amount of money... I betcha they found you once you opened an acct there.
Even if that is not the case it almost sounds like the ole karma is a witch thing.
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Old 02-05-09, 06:01 PM
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Nothing to do with the bond I cashed, they months later told me they overpaid me, and I told them I was sorry but the money was already spent. The guy at the bank paid me too much for the bond. Meh.
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Old 02-05-09, 06:05 PM
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Originally Posted by Pheard View Post
Nothing to do with the bond I cashed, they months later told me they overpaid me, and I told them I was sorry but the money was already spent. The guy at the bank paid me too much for the bond. Meh.
Did you ever pay them back or did they ever come after you?
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Please dont outsmart the censor. That is a very expensive censor and every time one of you guys outsmart it it makes someone at the home office feel bad. We dont wanna do that. So dont cleverly disguise bad words.
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Old 02-05-09, 06:36 PM
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Originally Posted by kaotikgrl View Post
If I have this right….they give you a credit card and you max it out, you don’t return a movie on time, a series of $1 charges or a $5 or $6 charge makes your checking account overdrawn, you keep money that a teller overpaid you….hmmmmm no sympathy from me, perhaps you need to take some personal responsibility for your own financial mess.
Go get him kaotikgirl. Agreed.
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Old 02-05-09, 06:37 PM
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Hmmm...I've not had an issue w/ BoA.
Walkalloverya on the other hand.....well, I don't do business with them anymore.
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Old 02-05-09, 06:40 PM
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Originally Posted by kaotikgrl View Post
If I have this right….they give you a credit card and you max it out, you don’t return a movie on time, a series of $1 charges or a $5 or $6 charge makes your checking account overdrawn, ... you need to take some personal responsibility ...
Yes, that's the way I read it.
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Old 02-05-09, 07:22 PM
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credit crunch mystery solved. Take away OP's cc and we come out of depression. Did I save the world?
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Old 02-05-09, 07:38 PM
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But who is going to pay the bill if he has no job?
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Please dont outsmart the censor. That is a very expensive censor and every time one of you guys outsmart it it makes someone at the home office feel bad. We dont wanna do that. So dont cleverly disguise bad words.
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Old 02-05-09, 07:41 PM
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Originally Posted by Siu Blue Wind View Post
But who is going to pay the bill if he has no job?
the tax payer. wait a second..i see a flaw in my plan now
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Old 02-05-09, 07:48 PM
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Originally Posted by Pheard View Post
what can the collection agency do if I decide I won't pay, I just talked to them and told the lady it was BOA fault and I don't feel I should have to pay it, she goes "ok thank you jon", and I hung up. Can they file criminal charges or anything? I know my credit can/is going to be ruined. It's been a few months since they've been calling, each time they call they say it hasn't began to affect my credit. I think it's a line of bullcrap.
Well... the collection agencies are near the bottom of the list of creetin' OK? Somewhere in between used-car salesmen and ambulance-chasing lawyers. ALL that they have the power to do is put a bad-mark on your credit-report. That's it. They can't file criminal charges against you, they can't garnish your wages or levy your bank-accounts. Only government agencies can do that.

At this moment, a black mark on your credit-report isn't going to hurt anything. However, a couple years down the line when you want to buy a new car or a house, it may come back to haunt you. At which point, you'll want to call up the agency's that's listed on your credit-report. Most likely that bad-debt BoA sold will have been re-sold numerous times. You can negotiate with them to remove that mark from your credit-report by paying some or all of the charges. However... whatever you do, make sure you get the deal confirmed IN WRITING from them before you send them any money. And if you make a deal for less than the full amount, make sure they state that this payment is settlement for the ENTIRE debt. And get it writing that they'll remove the entry from your credit-report. Otherwise, they'll just take your money and sell the remaining balance to yet another collection-agency which will put yet another mark on your credit-report.

I had a friend that had her identity forged to commit some credit-card fraud. It's been over 10-years and she'll still fighting to get her credit cleaned up.
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Old 02-05-09, 07:59 PM
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^ +1

Don't talk to the clown who calls you. Be polite, hang up ASAP.

Ask for everything in writing (sent to an address other than the one you live at, just in case clown sends clowns to your door).

Just because the bank has sold the debit and has 'washed its hands', doesn't mean you have to play their game. The original issue is between you and the bank, so you need to hassle them about it. If they say you have to deal with the debit agency, refuse on the grounds that they are not the originator of the problem and that it is the banks responsibility to deal with you to resolve it. They hate this, but that's their problem.
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Old 02-05-09, 08:59 PM
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Why not get a job to pay your debts, then use a credit union instead of a shady bank?
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Old 02-05-09, 09:01 PM
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Banks in full sun are no better, Mich. Geeze.
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Please dont outsmart the censor. That is a very expensive censor and every time one of you guys outsmart it it makes someone at the home office feel bad. We dont wanna do that. So dont cleverly disguise bad words.
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Old 02-05-09, 09:17 PM
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Eventually most collection agencies will get tired of you ignoring them and will settle on a minimal amount for you to pay off. You might find it worth your time to take up their offer and get cleared.
Ernest
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