My boyfriend didn't get his money in the bank in time to cover his electronic withdrawn insurance payment because his check from work was late. They paid it and charged him the overdraft fee so he owed around $65.00 but since he hasn't been able to put the difference in they are charging a daily late fee and he is up owing them another $65.00 and he isn't getting paid again for another week. If he went to the bank and talked to them would they possibly give him options of some kind or something so that this amount doesn't keep snowballing?
Can they have him arrested if he can't get caught up because they keep adding daily fees?

The same thing happened to my son last July and he ended up owing the bank $400. Over a .07 cents and a .26 cents overdraft.

Thanks

I've never heard of getting arrested for owing a bank money.

But tell him to try to contact the president of that banks' branch.
Usually this person is the one to sort out this stuff for you.

Thanks I was wondering because it is a bank and not a creditor. But they change so much because they don't want to lose money from people not paying.

Sounds like the bank should be arrested; are there others in your area? By all means, he should go to the bank and talk with an officer, and request a waiver from the excessive charges.

Same thought. Never heard of such outragous fees. There should be a law against that.

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Originally Posted by George_1950

Sounds like the bank should be arrested; are there others in your area? By all means, he should go to the bank and talk with an officer, and request a waiver from the excessive charges.

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ALL the banks in my area are linked together no matter what branch and then you can't get another acct if you don't pay up the other but that isn't a problem cause I told him get money orders.

Well, actually, I'm not sure about you canucks, but I know that Wachovia has a $35 overdraft fee PER transaction that's overdrafted, no matter what the amount is. So you can easily get charged $300 in overdraft fees if you just simply forget one day and buy a shirt here and lunch there.

As far as the banks arresting you, it's unlikely. However, they can put a collection agency on you to get the money... but for $65, it's unlikely. Get him to borrow money from a friend or a family member to cover the fees so this doesn't snowball.

Yeah the collection agency is another thing I am worried about because he just inherited his dad's place and when he goes to sell it the bank might come after him for thousands of dollars from that if they keep snow balling any outstanding amounts.

Tell him to go to the bank and explain the situation, depending on which bank it is they may work with him What state are you in? I personaly know of a person that this happened to and the bank actually stopped the fees until he could pay what he owed. I think sometimes its all in how you approch them. Be nice explain your situation and ask for THEIR help. IF you have been a customer for a long time and this is the first time this has happened to you you may catch a break!

Pennsylvania
Another problem is he works banking hours so maybe I should go and ask them 'hypothetically'

It's a bit weak if you go in and ask them for him. Is there a branch near you that's open on the weekend? Perhaps he can take off work a tad early to take care of this? Perhaps during his lunch break?

I wouldn't say for him I would just ask the question.

I understand, but in this situation, it's really all up to the bank manager. So if you ask hypothetically, there's a good chance he'll just say NO as opposed to you going in and actually asking.

I think HE should be the one to go. What can it hurt? What is getting off 30 min or an hour eariler compared to paying outrageous fees? Sometimes we just have to do what we have to do.

I hope he can find the time to go.

Hello NOhelp4u,

Maybe the link below will help you better understand how banks work.
The same situation happened to me. I oxwed almost $500 for a puny over draft. I went to the bank's manager and negotiated a payment with her. She was understanding but warned me that if it happened again, she would not spot me.

Did the bank charge your boyfriend a fee of $65 for the first time he overdrafted or was it $30, $35? Do they charge every consecutive business day or every day of the week? If they charge a fee of $65 for every day than that is quit a lot but maybe that's what his bank charges for overdraft fees.

https://www.askmehelpdesk.com/bankin...go-169860.html

Have your boyfriend call the bank manager on his lunch or a break or whatever and explain the situation. When I worked at a bank (thank goodness I don't anymore) we would have people call and do that all the time, so it can't help. Especially if it's the first time its happened, it shouldn't be a problem.

I am hoping they do like the last reply on that link and do a 'bank induced closure' but I am not sure because they changed the way they do so many things now with debts and collections. I had a bank induced years ago and I couldn't get a bank account again

Usually it takes awhile for them to do that. Your bank has to be overdrawn for a long time. I had a bank account (2 actually) that had some bad checks written on them(Thanks to my fabulous wonderful wish-i-could've-kicked-him-where-it-counted ex boyfriend) and they were overdrawn for about 3 months each, maybe longer. One was $300 something and one was $500 something. The $500 one they never closed (I still use it to this day) but after about 4 months they closed the other one (charged it off, as they call it) and I had to pay...

Ok, my maon concern, as it should be your's, how can you avoid this in the future. Simple, be more proactive with the management of your accounts. From online