4 posts shown.
John Clark6 said:I don't think that's quite right—honestly, I suspect the most expensive "fee" actually happens when an account gets frozen. In those cases, I believe they charge something close to $60 just to try the transaction again... I'm not entirely certain, though! It feels different to me, because you aren't really paying to settle the original balance, you're just paying for the privilege of unfreezing the account itself.
So, if I’m following correctly, the smartest move is just to let the cash sit there and let both the collection agencies and FIFA take their cut from the balance?
I gave them another call today, and I have to admit, the folks on the free info line were actually quite polite, even if I'm not entirely convinced we were even speaking the same language...
They’re claiming that FIFA gets its fees regardless—that it makes no difference whether I pay my debts directly or if the claims are processed through them. That doesn't sound particularly logical to me, especially since their online fee schedule is an absolute labyrinth of nonsense until you've actually been charged.
To make matters even more confusing, my bank told me that if I settle up with them directly, FIFA won't take a commission.
🙂
Bryan Rivera83 said:FIFA hits you with those blocking and unblocking fees regardless, so honestly, it doesn't even matter on that front.
But does the Fed charge the exact same amount in both of those scenarios I laid out? I mean, scenario one: where I pay off my debts myself so the collectors can finally lift the freeze; or scenario two: where they just grab the money through the bank the moment it lands in my account?
If the fee is identical regardless of how it happens, there’s absolutely no point in me taking out a loan just to settle up before the funds actually clear...
Hi there!
I’ve got two different collection notices sitting with the federal authorities, which means my account is currently frozen. I owe one bank roughly $1667 and my mobile provider about $833.
I’m expecting some funds to land soon, which would allow me to clear these debts entirely.
However, I have a few questions regarding the best way to handle this...
Is it more financially sound to just let the system handle everything through the central clearinghouse—essentially letting them deduct the creditors' claims and their own fees from whatever hits my account—or should I try to settle directly with the creditors first to get the freeze lifted? (The catch is that if I go the second route, I’d have to borrow the cash from a colleague since the incoming money is headed to a checking account at a different bank).
If I stick to the first option, what kind of service fees does the government agency charge for processing these collections?
On the other hand, if I borrow the money to pay off the debts in full and the creditors successfully lift the freeze, will I still be on the hook for those agency fees?
Are the total costs associated with the clearinghouse the same in both scenarios? I'm trying to avoid a situation where I end up dealing with a massive headache only to reach the exact same financial result.
Thanks in advance for any insight.
Dear fellow members,
I am reaching out because I desperately need some advice regarding the following collection issues...
About a year ago, I lost my job, and the overdrafts I already had just spiraled out of control since I had no way to pay them back.
Basically, I originally had an overdraft at my bank of approximately $1333. However, when I walked into the branch a month ago, I was shocked to see the balance had ballooned to about $1800 due to interest and legal collection costs. I never received a single notification—no email, no phone call—stating that a legal collection process had been initiated. Since I no longer reside at my registered address, I never actually received the official notice of judgment. In short, I only found out the collection proceedings were underway because I physically went into the bank.
I tried to negotiate with them, but they insisted I settle the entire amount. My stance is that I am willing to pay off the actual debt I incurred along with the interest (as I expect to receive some funds soon), but I refuse to be held responsible for their legal fees. Recently, I received a tax refund, and instead of letting me have it, the bank simply snatched about $500 from the total balance (covering both the initial deficit and the collection costs).
What I want to know is how on earth the bank can just tack collection costs onto my existing overdraft (which was supposed to be capped at around $1333). Is there any specific legal statute or consumer protection regulation I can cite? I am more than happy to make things right by paying what I actually owe plus interest, regardless of the rate, but I find it absolutely absurd to pay for their legal maneuvers. If there isn't a way to fight for what is fair, then what am I even paying for? Since I never received the court order, is it even valid? I assume they’ve charged me something like $100 for the finality of the judgment, but how can a judgment be finalized if it was never served to me?
Please, let me know what my next logical step should be regarding this matter...
The second issue involves a debt to my cell phone provider—well, technically to the agency that bought their debt.
The original bill was roughly $333, but with the added collection costs, it has climbed to about $667.
Again, I am perfectly willing to pay the principal and whatever interest they've tacked on, but I draw the line at these collection fees, especially since I haven't even been served with the legal notice (I only found out via a phone call that the process had started).
If they won't budge on my proposal, I don't intend to pay them anything. Does anyone know if there is a statute of limitations after which these claims become unenforceable?
I want to clear all my debts; I’ve never been someone who avoids their responsibilities. It isn't my fault that I've been without income for a year, though I fear no one really cares about my circumstances. My big fear is whether this judgment can become legally binding—meaning they could potentially freeze my account the moment I land a new job—if the notice was never properly delivered to me?
Thanks in advance for your help.