Overdrafts and negative balances: What's allowed?
in Banking, Insurance & Loans ·
Good afternoon, everyone!
I have a question and am looking for some advice...
I was employed and had an outstanding balance of 15 $0.00, but I lost my job and they closed out my account. Despite all their prior warnings, we reached an agreement where I would pay back the $500 over a 12-month period to settle the debt, and I even signed a blank promissory note before a notary. However, I haven't been able to find work yet, so I haven't even managed to make the first installment. A representative called me and mentioned someone would be reaching out regarding the debt, claiming I'm now considered delinquent. This has been dragging on since November, yet nobody—not the agency, the notary, nor the bank—has actually contacted me. I have an account at another bank that isn't frozen, so I can still use it... plus, nothing has been officially filed against me yet. Am I mistaken in thinking they can't really do anything to hurt my situation right now?
Since I can't pay this money back until I secure a job, are there any other legal actions they can take against me?
Thank you 🙂
I have a question and am looking for some advice...
I was employed and had an outstanding balance of 15 $0.00, but I lost my job and they closed out my account. Despite all their prior warnings, we reached an agreement where I would pay back the $500 over a 12-month period to settle the debt, and I even signed a blank promissory note before a notary. However, I haven't been able to find work yet, so I haven't even managed to make the first installment. A representative called me and mentioned someone would be reaching out regarding the debt, claiming I'm now considered delinquent. This has been dragging on since November, yet nobody—not the agency, the notary, nor the bank—has actually contacted me. I have an account at another bank that isn't frozen, so I can still use it... plus, nothing has been officially filed against me yet. Am I mistaken in thinking they can't really do anything to hurt my situation right now?
Since I can't pay this money back until I secure a job, are there any other legal actions they can take against me?
Thank you 🙂