Posts by David Scott9

You should definitely hit up your bank. Honestly, they’re usually pretty willing to work with you on setting up a monthly payment plan if you just ask.

Rachel Johnson8 said:Hey everyone,

I decided to make this my very first post here because I’m currently stuck in a bit of a situation and could really use some advice from you all.
So, yesterday I headed down to Bank of America—the place where my paycheck goes—to ask about getting an overdraft protection plan. Since I finally landed a permanent job with a full contract, I figured it would be smooth sailing, right? Wrong. Turns out, the lady behind the counter told me straight up that I'm on a blacklist, so there's no way I'm getting any credit. I was honestly floored; I had no idea I was even on a list like that. I tried to get some clarity, and she asked if I owed anything elsewhere. Well, yeah, I do. I have a small balance over at Chase around $2000, which I try my best to pay off regularly, but apparently, that's enough to land me on this list despite my best efforts...
I asked her what I could do to fix this or if she had any tips, but she just gave me a hard time. She basically told me that for the next three years, I won't be able to do much business with them beyond just withdrawing whatever cash gets deposited. As for loans? Don't even bother dreaming about it. She suggested I just go shop around at other banks since there are plenty of them out there.
Does anyone know of a bank that isn't going to care too much about this blacklist, especially since my paycheck hits my account reliably and I always stay on top of my bills?

Look, feel free to go shop around at different banks, but honestly, I don't think you're going to get any overdraft protection or credit cards until that blacklist status clears. Every bank plays it differently when it comes to how long you have to wait after settling your debts before they'll actually trust you with those perks again.

$2000And let's be real, it's not like some tiny amount of money gets you blacklisted instantly. You usually have to dodge payments for at least three months or completely ghost the bank for that to happen. Usually, if you just sign a simple repayment plan, you wouldn't even end up on the list in the first place. But since you're already in the doghouse, expect to see that mark on your record for at least two years, not to mention the fact that the FBI has you flagged for poor financial conduct, which is probably an even bigger headache than the list itself.

Look, if you just started running everything through an actual business account and actually issued invoices instead of trying to fly under the radar, you wouldn't be finding yourself knee-deep in this kind of mess.🙂🙂🙂🙂

Thomas Fowler84 said:The government isn't actually guaranteeing it; they are just claiming to guarantee it to prevent a panic. It is much like an insurance policy that lacks funding. If a major bank were to collapse, the federal government simply wouldn't have the liquidity to reimburse creditors, regardless of their intentions.
One shouldn't take politicians at their word.

Furthermore, the logic behind guaranteeing $400 per person, per bank, rather than just per person, is flawed. They could have easily removed all limits under that structure. In the US, we have thousands of banking institutions. When you look at the math, they are effectively promising over $12 million per individual.

Sorry, but you've got it wrong. The government guarantees $250k based on your Social Security number. So, if every single bank in the US went belly up and you had $250k sitting in every single one of them, the most you'd actually walk away with is still just $250k.

Just so we’re all on the same page here. Bank of America can actually claw back funds even if they didn't personally screw anything up. Basically, if the person who sent the money hits them up with a note saying they made a mistake and sent too much, Bank of America is totally allowed to reverse that transaction. Now, if your account happens to be sitting at zero after that happens, the bank is going to reach out and—let's call it "politely request"—that you pay them back. You can verify this whole mess by walking into a local branch, because the person whose account actually received the deposit has every right to dig into the specifics of that transaction.

And just to be clear, Bank of America isn't just allowed to go around raiding people's accounts for fun. If the money was pulled, there was definitely a legitimate, legal reason behind it.

Look, inheriting stuff isn't all gold bars and beachfront property; you’re basically signing up for the debts too. If you get declared the heir during those legal proceedings, you're on the hook for everything they owed, though luckily it's capped at whatever value the estate actually holds.

Honestly, just do yourself a favor and keep your payment confirmations for as long as humanly possible. I learned this the hard way when GlaxoSmithKline somehow failed to log one of my payments, and then—get this—they actually tried to sue me two years later over an outstanding balance. Luckily enough, I had a PDF of the confirmation saved on my computer, and I was also able to dig through my bank statements to prove the money had actually left my account. I had to go down to their office in person to show them everything, but once they saw the proof, they finally backed off about the debt. Of course, because life isn't fair, they still tried to tack on all these collection fees even though the whole mess was entirely their fault, so I had to head back there yet again to fight that part too. Long story short: save those receipts on your PC.

oh yeah, obviously