Great BDAY GIFT-IM TOTALLY ED

[3rdCoast]

Yea todays my bday and everything is cool til I get a phone call from my old bank. Apparently the 1500 that they mixed up into my account a few months back(which I spent) is now 2500 and they want me to pay it.Damnit to , I am ed.

[CosmicCowboy]

hmmm...

If it really was the banks fault and you don't want to pay it back just say no...tell them you just plain don't have the money and don't intend to pay...I know $1500-$2500 sounds like a lot to you but they would burn that much in no time if they hired attorneys to take you to civil court...and they probably wouldn't do that if they thought they would get a judgement that was uncollectable...they might harrass the out of you or turn it over to one of those s bag collection agencys but chances are they would just write it off eventually...

[3rdCoast]

I took some ty advice from a bunch of people when this thing first happened and they said that after a few days if the bank didnt fix their error then the money is legally mine. Well me, being the idiot that i am, listened to them and periodically withdrew the cash until there was only a few bucks left in it. Now, they want me to pay that back. dude, I knew I should not have touched that .

[ALVAREZ6]

banks are gay

[CosmicCowboy]

Oh you definitely took their money. You should consult an attorney but from what you said I don't think you actually did anything criminal so they would have to come after you in civil court..The real question is if it is worth their time and money to try to make you pay it back...It would cost them probably $10,000 in legal fees (at $150-$200 hr.) just doing all the preliminary filings...and this doesn't include actually going to court...keep telling them you don't have the money to pay them back and they may just let it go...

[maxpower]

out of curiousity why is it now $2500?

[3rdCoast]

On the first statment I recieved when the error started, there was a transaction of 2500 being deposited then 1000 being withdrew the same day. I NEVER took out the first 1000. I did take the other 1500 tho.

[jalbre6]

hey tx3, you said it was your OLD bank. That means whatever money you got right now isn't in the bank you owe 2500 to, right?

No problem.

Having a closed account witha negative balance will affect your credit, but they're not going to put a warrant out for your arrest or garnish your paycheck right now. At the most they'll call and harass you once a week and then send some collection agency after you, eventually offering to settle for around 55-60% of the money you owe. If you avoid them long enough, they'll just write you off instead of trying to pursue you further.

[3rdCoast]

I suppose the account is still active tho. I went to close the account like a month or two before they sent me the first statement saying my account had money in it.

[timvp]

Happy B-Dizzy.

F da hatas. You da big dawg now.

[CosmicCowboy]

hehehe

I really AM amazed sometimes at the that gets confessed in here. Stuff gets told to strangers that people wouldn't confess to their best friend...

[3rdCoast]

true. But in my case with this I will tell anyone and everyone. Man, banks dude. What did they expect? Someone basically gives me 1500 and im not suspossed to spend it, that, i got bills.

Well, I suppose I learned a lesson here. Be honest and dont ing take whats not yours. Damn, I hope I get a lot of cash for xmas.

[CosmicCowboy]

actually we gave you good advise. If you don't want to pay it back then don't...the bank will more than likely give up eventually...

[3rdCoast]

I guess I will soon find out, as I doubt I will have an extra 1500 anytime soon.

[CosmicCowboy]

unfortunately I speak from experience here as the creditor...the first thing an attorney is gonna ask the bank is if we go to all this time and money to get a judgement, will you be able to collect it?...if you don't have the money then they more than likely won't go to the time and expense of trying to collect it...

[CosmicCowboy]

well...try to have a good birthday anyway....

[jalbre6]

Disclaimer: Screwing banks are bad. Don't do it.


I think some variation of your situation happens to quite a few people. I used to have direct deposit with an old employer and once they put three deposits, each around $1500, in my account at Frost. I waited three or four days, even called the bank once (but not my employer, obviously) and the money was still there. Considering I had a balance of less than $100 before the deposit hit, I went wild. Spent beaucoup cash at Cedar Street and Fado's in Austin, threw a big party at my apartment, et cetera. Funny enough, I quit that job when a position working for my old roommate came up less than two weeks later. Right after that without telling me, the bank yanked $3000 out of my account and credited my old employer, when I had less than $1000 in it. So I was in the red for like $2300 bucks and I was freaking out. When I called the bank it went from speaking with a nice person using their first name to a scary Mr. Somebody asking what plans I had to return their money. So I opened a new account at another bank before they could find out I was a bad customer and avoided Frost like the plague. They sent letters after me and called for a while, then went away. It never even showed up on my credit report.

[SpursWoman]

Well, anyway...I hope you get it all worked out with minimal damage and have a





anyway.

[ZStomp]

I just read the thread over at SR and it was JasonR who gave you that advise right?

PM him...see what he has to say.

This must suck......it's easy to Monday Morning Quarterback.....but I would have definately called the bank when it happened. I too have bills but I would hate someone to come back a few months later and ask for it back and I don't have it.

[Guru of Nothing]

Seems to me you have two choices: Offer to pay the money back, or tell the banks to off.

Pick your poison.

Just so you know, nobody employed by the bank will be out $1500, should you choose not to pay. Your $1500 spree will shared by everyone else who banks where you once did.

[manustarting2gd]

In my anti-government mindset I want to say em' , the bank ed up.. But, realistically.. I know some pre-paid legal law firm that will help you out for 20 bucks a month..letters,representation, counsel... etc... let me know and Ill get the number and more details.. in the meantime, drink your sorrows away mayne! Damn too bad you dont have 1500 in vbookie to use!

[Guru of Nothing]

.. I know some pre-paid legal law firm that will help you out for 20 bucks a month..letters,representation, counsel... etc... let me know and Ill get the number and more details..

Surely this firm has a name (or names). Share it with us.

[AlamoSpursFan]

A former co-worker used to harass me all the time trying to get me to buy into some scammish Amway-sounding thing that I believe was in fact called "Pre-paid Legal".

[manustarting2gd]

Actually, I dont use it myself but a buddy of mine uses it. I dont know it offhand, but, I'll update this board tommorrow after talking to him with the name and contact info.

[Drachen]

They will put a collections account on your credit report. This will stay there for 5 to 7 years.