Posted on 10/27/2004 9:23:02 PM PDT by GYPSY286
Was the bank PNC? We had a similar experience with PNC, but no overdrawn account. They transferred an extra $50,000 into our IRA when we transferred to a different bank. They didn't realized the error for three months and our broker never realized it because they had sent the money over in dribs and drabs as they sold stock. Fortunately, all the money had not yet been reinvested, but PNC wanted the original stocks returned, not the cash because the stock had appreciated. Naturally our bank told them to pound sand and told us that PNC has a reputation for such "errrors."
If you sign the papers to liquidate your IRA and then sign the paperwork to wire the funds then you know how much is suppose to arrive in your account. The idea of wiring the money in and of itself is a waste of money - if you can wait a week for a check you don't have the pay the $30 or so wiring fee.
They're going to be making payments plus interest plus recovery fees if they continue to push it.
And this isn't an issue of unsecured credit. No credit was ever offered in any of these transactions.
More than there credit is on the line here.
You need legal advice and you turn to Freerepublic? Yea, makes sense to me. I did my own gall bladder operation after getting advice from posters at DU.
That would seem to be the key. Is it more than they are supposed to get? Has the bank established that yet to their satisfaction?
I meant they would have to take a loan, like an official loan - like some would to make a big purchase. It's a pipe dream to think the bank will accept payments without interest being paid.
I do think her kids got a raw deal. I always try to cover or talk the bank into covering fees incurred by a client through no, or minimal fault of their own.
If the 'last' bank that charged the NSF fees reports the debt on her credit statement, how is that a violation of the credit laws? It's a legitimate debt she owes her bank, regardless of how or why there was no money in the account.
Are you serious?
The can easily prove it. The bank records are as plain as day.
In a court of law.
And the result of that won't be pretty.
They'll be on the hook for the attorney fees, court fees and other fees... Possibly even a criminal conviction. This is not some unsecured credit issue. This is theft.
What if the amount they received was the same amount as signed for, but when the bank went back and calculated, they came up with a different number? After you had signed and left.
Yes, it was PNC!
I would have to disagree. I know a family member that still has a $50 ding on her credit report because her health insurance failed to pay a medical bill within 60 days. While lenders may lend on lower credit scores, creditors are certainly MORE willing to put stuff on your report.
Bet that operation went well. LOL
In your case I totally agree with you. And I would be angry at OPM for putting me in that situation...
But in the case that started this thread there is no indication that that is what happened. If they had a statement that indicated they were to receive X and they got Y, they knew something went wrong.
It sounds like that's exactly what you did - but instead of taking charity, you simply took their money by blowing off the debt.
That's a wholly different matter. Then the bank needs to provide evidence of what their mistake was and for how much. And in those conditions there needs to be some give and take on working out arrangements for repayment because the situation the bank has put you in, due to their error, was beyond your control. You had no resonable way of knowing something was wrong.
PNC- the bank that financed the Clintons when no other bank would.
I didn't owe money, they owed me money and overpaid me. Then they tried to take it back without asking.
I know, I will pay them money even though they have cost me more money then they were trying to get back. (sarcasm)
That makes alot of sense.
They may well have access to property tax records and therefore have a good idea of the assets potential clients have along with what debt they carry.
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