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Established Contributor
Posts: 965
Registered: ‎12-04-2007
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What should I do

I haven't been on this forum in 2 years.  But I ran into a buzz saw about a year ago.  And now am starting to feel better about things and  need some advice.

 

I have a closed checking account with BOA.  They have sent it to a collection service because it is 1300.00 in the hole.  Now it isn't ALL my fault.  My Paypal account

was hacked and I had about 100  35.00 charges suddenly showed up.  Then BOA (because my account was already a little negative) charged me 35.00 OD fee for every single one.  Well to make a LONG story short.  Paypal finally reversed and corrected.  HOWEVER BOA still charged me 35.00 OD fees.   I have called them but they charged off my account April 21 and today I received the collection notice.  I have a letter from PAYPAL stating that all OD fees from March 10 through March 21 should be reversed and BOA said (on telephone) that would happen  But it never did.

 

So today I receive the collection notice.  Well I will pay what I owe but not what I don't owe.  so do I send a DV letter along with the Paypal letter?  And what exactly should I be SURE to include in that letter (cause i can't afford to get sued right now)  

 

Thank you all.  

Valued Member
Posts: 58
Registered: ‎02-15-2009
0

Re: What should I do

How much is the total debt?  You mentioned 100 $35 charges which would put it at about $3500 but you said $1300, so is the CA trying to settle with you or what?


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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
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Re: What should I do

Call the bank and ask them exactly what the charges were for.  It doesn't appear to be related to the Pay Pal account.

 

The only reason I am saying this is because I had a $500 account CO'd and after all the fees and things they charged before it was COd it, was over $1200.

Valued Member
Posts: 58
Registered: ‎02-15-2009
0

Re: What should I do

I don't know about that, I've had issues with PayPal in the past screwing with my checking account too.


Starting Score: 487
Current Score: Equifax: 586
Experian: 589
Transunion: 602


Overall Goal Score: 700


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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
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Re: What should I do

I wasn't implying PayPal didn't do something to the account.  What I am implying is that the CO'd amount does not appear to be related to the PayPal mess up because if it was it would be significantly more.

Valued Member
Posts: 58
Registered: ‎02-15-2009
0

Re: What should I do

[ Edited ]

I know that once a bounce fee occurs, and once an insufficient funds fee is charged, banks can charge what is known as a continual overdraft fee for as many days or weeks that the account is past due, until it closes.  So did you immediately switch banks and neglect the first one after it first went negative but before the paypal charges?  It kinda sounds like a situation that went from bad to worse.  Also, I think OP was referring to a checking account, not a credit card account.  Am I right?


Starting Score: 487
Current Score: Equifax: 586
Experian: 589
Transunion: 602


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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
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Re: What should I do

I was referring to a checking account also.  You don't get overdraft fees on a CC.

Valued Member
Posts: 58
Registered: ‎02-15-2009
0

Re: What should I do

Ok, but I kinda was asking for more info from OP.  Smiley Happy  But thank you too, guiness.


Starting Score: 487
Current Score: Equifax: 586
Experian: 589
Transunion: 602


Overall Goal Score: 700


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Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0
Valued Member
Posts: 58
Registered: ‎02-15-2009
0

Re: What should I do

No worries, you're still loved!


Starting Score: 487
Current Score: Equifax: 586
Experian: 589
Transunion: 602


Overall Goal Score: 700


Take the FICO Fitness Challenge
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