What Do You Think I Should Do?

[epiphany]

I have a long list of dilemmas but this is the one foremost on my mind.

I recently withdrew all but a measly amount of funds from my checking account with my credit union and opened a new bank account. I also successfully redirected my payroll deposits so there will be no new money coming into that account. I did not bother trying to close the account because I have two delinquent (although not very) loans with this credit union.

I am an idiot and have a ridiculous loan with CashCall (which despite popular belief, is NOT a PayDay loan). This loan is current and they deduct around 255.00 out of my checking account on the first of each month...that's coming up.

The upcoming deduction will obviously not clear and it will throw the checking account into the negative. My lawyer says not to worry about it, we'll just throw it into the BK. However, my thinking is that I don't have any bounced checks or anything else that might throw me into Chexsystems, and I am wondering if I should call Cashcall and tell them about the BK and tell not to put it through. I've also considered just depositing 20.00 into the account just to cover the bounce fee. Does being in Chexsystems also makes it hard to write checks to retailers (anyone?).

I am also not looking forward to this one because the Cashcall people are NASTY and relentless. They will start hounding me the day after it bounces at any number they can get ahold of. I had one payment returned once and explained to them when I would pay (which wasn't that far off & I did make good on it) but they did not stop until it actually went through. I'm not sure that telling them to call my lawyer will suffice and I won't be filing until the end of Feb/beginning of March. Thought I'd be filing sooner but......... the best laid plans and all of that.

Soooooo, should I listen to my lawyer and let the chips fall where they may? Would 20.00 deposited into the account save me Chexsystems grief? Should I call Cashcall and duke it out? I'm torn.

Thanks,
EP

[rrockinggramma]

as hard as it will be, I would follow your attorney's advice. You already have another account at another bank so you have no need to worry about chexsystems. Scan and Telecheck etc run the cashing a check at the checkout system and are not affected by chexsystems. Why throw away your money. You are including cashcall in your BK so I wouldn't waste the money. BTW, the cashcall loan isn't tied to a secured interest is it? (like those car title loans?)

[HHM]

You already have an account with another bank, so you don't need to worry about chexsystems.

Just follow your lawyers advice, no reason throwing good money after bad.

[epiphany]

Thank you for your responses....they are truly appreciated and I am relieved to know that it won't affect my ability to write a check at a retailer. The CashCall loan is unsecured.

Will follow attorney's advice. Thanks again.

EP

[One Half Full]

I don't know, but something about paying only "one cent" re-aging a loan really starts running around my head at this point. Get some sort of blocking system for business numbers so you don't need to answer the phone, is all I can think of.

[FreshLikeADaisy]

Epiphany, ditto on what One Half Full said. Find a way to start screening out those collector calls. In the end, I went to a throwaway prepaid for my personal calls, and let everything on the land line (the number they had) go to voicemail, which would be deleted as soon as I heard the words, "This call is for FreshLikeADaisy..."

Click. No one I know personally is ever going to start a message that way. (Not least because that isn't my real name, but you get the idea.) And I never had to listen to more than three or four words before I knew conclusively that I could safely hit delete. Seriously, if you care about paying your debts (and obviously you do) those collector calls can be one of the most horrible, guilt inducing, nerve-wracking experience you ever go through. Pull the plug!!!!

If you know you're going to file bk, don't throw another penny at those unsecureds is my thought. It's good money after bad, as others have pointed out, and won't help you in any way. Save your $$$ for the filing. Good luck!!!

[dpickrn]

Include the overdrawn checking account in the bankruptcy and provide documentation of the discharge of the account to Chexsystem and they will remove the negative entry from their report. You will be free to obtain a checking account with another bank without worry. They did for me and I owed Huntington Bank $2600.00 and WesBanco $150.00. Both were removed.

[epiphany]

Click. No one I know personally is ever going to start a message that way. (Not least because that isn't my real name, but you get the idea.) And I never had to listen to more than three or four words before I knew conclusively that I could safely hit delete. Seriously, if you care about paying your debts (and obviously you do) those collector calls can be one of the most horrible, guilt inducing, nerve-wracking experience you ever go through. Pull the plug!!!!

Oh, I pulled the plug long ago. I had a dial up internet connection until less than a year ago, so I got used to the phone not ringing because the computer was always on. It's the calls to work (everyone with half a brain knows a creditor is looking for you), or the not knowing if they will call a friend or family member that I can't handle. Cashcall will email me three times a day too. Don't so much care about that. But like I said, they are relentless. Their emails will state that they can "HELP" you (out of the kindness of their manufacturer made icy steel hearts) but then when you call them they will tell you to pay up or else....and that happens just ONE day after a missed payment.

I am close to filing anyway. Well, lawyer wants to be paid up by mid March (more than 1/4 there) and I should be getting two healthy (not wealthy) tax returns so that is probably doable. I think in another week, I just want to tell everyone what is going on to lessen the chances of them calling other people. I did take some advice from this board and made sure that my voicemail clearly states my name...had a generic message before.

If you know you're going to file bk, don't throw another penny at those unsecureds is my thought. It's good money after bad, as others have pointed out, and won't help you in any way. Save your $$$ for the filing. Good luck!!!

Yeah, logically I know that's right and I don't feel any guilt for the blood sucking Cashcall gang. But under a few of my circumstances, it just doesn't feel right. (have another dilemma to post soon) Nothing I can do about it though as I have no other choice. BUSINESS IS BUSINESS.
Thanks for caring, Flad, and thanks for your input, One Half Full.

EP

[epiphany]

Include the overdrawn checking account in the bankruptcy and provide documentation of the discharge of the account to Chexsystem and they will remove the negative entry from their report. You will be free to obtain a checking account with another bank without worry. They did for me and I owed Huntington Bank $2600.00 and WesBanco $150.00. Both were removed.

Wow, that's great Info! Thanks dpickrn!

EP

[CindyLou]

in answer to your original question: yes it can affect your ability to write checks to some retailers. Each time you write a check at some places they check your record. Macy's for example checks it every time. I had a check rejected at macy's when I had something on chex systems from a previous acct.

If you can stop the auto debit from cash call it would be best.

Do you have a debit card with your new acct? if not, get one and then it won't matter if you can't write a check.

[epiphany]

in answer to your original question: yes it can affect your ability to write checks to some retailers. Each time you write a check at some places they check your record. Macy's for example checks it every time. I had a check rejected at macy's when I had something on chex systems from a previous acct.

If you can stop the auto debit from cash call it would be best.

Do you have a debit card with your new acct? if not, get one and then it won't matter if you can't write a check.

Well yes I do have a debit card with my new account...and that is a very good point. I didn't realize that chexsystems would not affect a debit card.

Thanks Cindy.......I'm just gonna let that other account go belly up and not worry about it.

EP

[TabulaRasa]

Epiphany,

Back in November I had my bank stop the automatic withdrawals from CashCall. Talk about poking a hornets nest. Within 3 days of my regular payment date, the calls poured in. I did end up paying them for November, but that was it. They're not getting another dime out of me.

(As a side note, yes I know I willingly took out a loan with them, and agreed to pay back said loan but under current financial circumstances, I don;t see how it is possible. My not paying them is a business decision, though in the case of that company, it's also a moral one)

[woeisme]

Putting the $20 in your account to cover the fee wouldn't help you anyway because a lot of these places keep resubmitting and resubmitting over and over again hoping that a direct deposit will hit your account and they can grab it before you get to it, etc. So they can try to charge your account many times, not at all caring that each time they do it, they'll add another fee to your bank account. (not that it matters since it'll be discharged in BK, but they will really screw over someone who accidently overdrafted by resubmitting every day, sometimes twice a day, once in the morning and once in the evening!) So don't feel sorry for them, they sure won't feel sorry for you if you had to pay all those overdraft fees!

[epiphany]

Epiphany,

Back in November I had my bank stop the automatic withdrawals from CashCall. Talk about poking a hornets nest. Within 3 days of my regular payment date, the calls poured in. I did end up paying them for November, but that was it. They're not getting another dime out of me.

(As a side note, yes I know I willingly took out a loan with them, and agreed to pay back said loan but under current financial circumstances, I don;t see how it is possible. My not paying them is a business decision, though in the case of that company, it's also a moral one)

Hi TR. Well, I had looked into stopping the automatic withdrawls a few months ago, because they had gone into my checking account with no notice to debit a return fee and sent my account into the negative. I called them and they actually paid me back the 20 dollar bank fee after I proved it by faxing in my bank statement. Anyway, my bank (credit union) told me that they could not stop them without actually closing the account....which sounds like a load of crap to me. I should have done it then, but I didn't. Now I can't close the bank account because I am in default on two credit union loans.

Anyway, their payment bounced on Friday and the calls started today. One call so far and two emails. Have no idea if they called my work as I am working off site right now. But I am going to call them in the morning and tell them about the BK, which kinda scares me since they are local, but I went over my finances today and it looks like I will be able to file before they would be able to do anything. I gotta squash them in their tracks if I can. They are very nasty. If they don't stop calling me after I give them the lawyer info, I will sick my lawyer on them.

So are they calling you everyday or have you managed to get rid of them?

EP

[epiphany]

Putting the $20 in your account to cover the fee wouldn't help you anyway because a lot of these places keep resubmitting and resubmitting over and over again hoping that a direct deposit will hit your account and they can grab it before you get to it, etc. So they can try to charge your account many times, not at all caring that each time they do it, they'll add another fee to your bank account. (not that it matters since it'll be discharged in BK, but they will really screw over someone who accidently overdrafted by resubmitting every day, sometimes twice a day, once in the morning and once in the evening!) So don't feel sorry for them, they sure won't feel sorry for you if you had to pay all those overdraft fees!

Yeah, that's a good point Woeisme. I should probably just call the credit union too while I am at it and let them in on the BK...they'd probably just close the account, I'm thinking. But, guess it doesn't matter now, it's already in the neg.

EP