Wage garnishments and collections
in Law ·
Hey everyone. I could really use some expert advice here because every single branch of Chase tells me something different. Here’s the situation: I’ve had this old debt hanging over my head for ten years, and I had no idea it would balloon up to $8333. Yesterday, they wiped out my entire paycheck because I didn't set up a protected account in time. So yeah, my account is frozen. I asked the bank if I could just take out an unsecured personal loan for the full amount to settle everything at once and just pay them back in monthly installments. A woman at Chase told me that’s impossible because my account is blocked—she claims they can't deposit the cash into my account, nor can they hand it to me in person. Now, that part makes zero sense to me. Is it actually in their interest to keep milking me for interest instead of letting me clear it, or is this just incompetence? If Wells Fargo approved the loan, they could just automatically pull the funds from my account to settle the debt; I don't see where the bottleneck is. Do I have to open a protected account first so Chase can deposit the cash, which Wells Fargo then uses to pay off the balance, or how does this even work? Honestly, I'm losing my mind dealing with these tellers; I feel like I learn nothing useful. Every branch gives me a different story. I’m heading to a different branch tomorrow because clearly, the people at this one don't understand what I'm talking about. Thanks!