Comments
1 - 18 of 18 Comments Last updated Feb 28, 2013
BeFree

United States

|
Report Abuse
|
Judge it!
|
#1
Feb 27, 2013
 

Judged:

1

1

I am posting because of my friend, seriously my friend not me. He overdrafted his account at the credit union to the max, maybe about $500. It has been months and he has not made any deposits. I dont think he plans on paying it back.

Has this happened to anyone you know? What will happen to him?
do the right thing

Granite City, IL

|
Report Abuse
|
Judge it!
|
#2
Feb 27, 2013
 

Judged:

1

Why are you on here airing this on topix?
Is your so called "friend" trying to scam the credit union out of there money?
you /he/she should do the right thing and take care of business...
Easy

Saint Louis, MO

|
Report Abuse
|
Judge it!
|
#3
Feb 27, 2013
 

Judged:

1

I can answer that one for you. Your "friend" social will go into a data base, and you will not be able to secure another account elsewhere until its paid in full in addition you may not even be able to open one for along time unless you go to one of them second rate banks ( you know the ones that charge you to use their ATM and other un necessary fees) and the best way to say it is, his @ss needs to pay off his bad debt like the rest of the people. Over draft is not a freaking credit line, its to protect you if you are a dumb ass and didnt balance correctly and ensures your debtors will get paid until you do. I cant stand ppl who try to beat the system when others are busting their @sses!!
BeFree

United States

|
Report Abuse
|
Judge it!
|
#4
Feb 27, 2013
 

Judged:

1

1

1

I agree he is an idiot, he owes me money too but if something really bad could happen to him I might be able to scare him into paying it back. I dont see any harm is asking on topix I didnt tell you who he is.
BeFree

United States

|
Report Abuse
|
Judge it!
|
#5
Feb 27, 2013
 

Judged:

1

1

I payed the 400 dollar debt off the first time for him but he maxed it out again. I think he used it to pay his rent and power bill. I dont think he views it as a scam, but he does look at it like a credit line. When he had a job he would overdraft, get payed and most of his paycheck would go towards getting a positive balance again. It was an endless cycle so when he lost his job he just kept overdrafting until he couldnt anymore.

I think the credit union should have cut him off or taken away his debit card. Im sure he isnt the only person in granite to pull this crap so I thought maybe someone would have personal experience with a case like this.
crazy coworker

Saint Louis, MO

|
Report Abuse
|
Judge it!
|
#6
Feb 27, 2013
 
I had a coworker do the same thing to GCSCU, and he would owe half his check when he would get paid, then he just started cashing his checks at Walmart because he was filing bankruptcy. But they were suing him and he did have to go to court, but he said that the bankruptcy would take care of it....What a World...
do the right thing

Granite City, IL

|
Report Abuse
|
Judge it!
|
#7
Feb 27, 2013
 
BeFree wrote:
I payed the 400 dollar debt off the first time for him but he maxed it out again. I think he used it to pay his rent and power bill. I dont think he views it as a scam, but he does look at it like a credit line. When he had a job he would overdraft, get payed and most of his paycheck would go towards getting a positive balance again. It was an endless cycle so when he lost his job he just kept overdrafting until he couldnt anymore.
I think the credit union should have cut him off or taken away his debit card. Im sure he isnt the only person in granite to pull this crap so I thought maybe someone would have personal experience with a case like this.
So by not being the only one in G.C. somehow makes it O.K.?
and it seems like you know a little bit too much about this so called "persons" business.

duhhh

Barnhart, MO

|
Report Abuse
|
Judge it!
|
#8
Feb 27, 2013
 
nothing but enabler behavior! dont pay his debt and let dumass find out the consequences!
free

Saint Louis, MO

|
Report Abuse
|
Judge it!
|
#9
Feb 27, 2013
 
I am bored, put your check in and be done with it. Learn not to spend out of your earnings. smh
You paid the 400.00, get your EIC back?

Since: Apr 11

Location hidden

|
Report Abuse
|
Judge it!
|
#10
Feb 27, 2013
 
What will really happen is his debt will increase monthly from interest and over draft charges. the credit union will probably up the interest rate to its highest level allowable by law.. possibly as much as 30%. This will require the monthly payment to increase. He will also begin to get negative entries on his credit report. Maybe after a year or less, the credit union will bring a collection suit in civil court. His situation is going to go from bad to worse. That $500 will turn into $1000 real quick! The best thing he can do is go to the bank and work out a payment plan, as soon as possible. If he waits too long, then he may have to deal with a collections agency, and they don't play nice.
BeFree

Granite City, IL

|
Report Abuse
|
Judge it!
|
#11
Feb 27, 2013
 
Thanks black anchors for a legit response, I appreciate it. I do not see how knowing what i do means i know to much? I had to pay it, my name was on his account and I didnt want that to follow me.I couldnt take my name off til the balance was back to $0.
Earl

East Saint Louis, IL

|
Report Abuse
|
Judge it!
|
#12
Feb 27, 2013
 

Judged:

2

1

1

I owe the same credit union $200 in overdraft fees from 8 years ago. I have a $80,000 dollar a year job, 790 credit score, drive a brand new Cadillac, and just closed on a new house. I don't think your friend has anything to worry about and I have had 3 other bank accounts since then so the database idea is bologna!
well

Greenville, IL

|
Report Abuse
|
Judge it!
|
#13
Feb 27, 2013
 
The database isn't "bologna" but it's possible that the credit union has a different database than the banks. Once his social hits the Chexsystem database, Walmart will also quit cashing his checks. He needs to work out a payment arrangement or something.

you might want to check your own information to confirm it isn't causing problems for you. Even though your name is off the account, make sure your social security number is off too.

Since: Apr 11

Location hidden

|
Report Abuse
|
Judge it!
|
#14
Feb 27, 2013
 

Judged:

2

1

Earl wrote:
I owe the same credit union $200 in overdraft fees from 8 years ago. I have a $80,000 dollar a year job, 790 credit score, drive a brand new Cadillac, and just closed on a new house. I don't think your friend has anything to worry about and I have had 3 other bank accounts since then so the database idea is bologna!
You got all that going on, and you can't pay off $200?
BeFree

Granite City, IL

|
Report Abuse
|
Judge it!
|
#15
Feb 27, 2013
 
The bank told me i am 100% not responsible for anything on his account from that point on but yes i do have my doubts. If they hire a collector I expect to be the first person they contact in hopes of getting that money payed back.
hmmmmm

Barnhart, MO

|
Report Abuse
|
Judge it!
|
#16
Feb 27, 2013
 
BeFree wrote:
The bank told me i am 100% not responsible for anything on his account from that point on but yes i do have my doubts. If they hire a collector I expect to be the first person they contact in hopes of getting that money payed back.
the only thing you can do is take this as a learning experiance. never ever put your name on anybodys account. all you are telling the bank is that you are going to be responsible for any fees etc. if the other person fails to keep their end up.
Do the right thing

Granite City, IL

|
Report Abuse
|
Judge it!
|
#17
Feb 28, 2013
 
Earl wrote:
I owe the same credit union $200 in overdraft fees from 8 years ago. I have a $80,000 dollar a year job, 790 credit score, drive a brand new Cadillac, and just closed on a new house. I don't think your friend has anything to worry about and I have had 3 other bank accounts since then so the database idea is bologna!
Well i'm glad to hear you are doing so well. At 80k a year you should't have a problem paying the credit union what you rightfully owe the. bottom line DO THE RIGHT THING..

Since: Feb 13

Location hidden

|
Report Abuse
|
Judge it!
|
#18
Feb 28, 2013
 
Blackanchors wrote:
What will really happen is his debt will increase monthly from interest and over draft charges. the credit union will probably up the interest rate to its highest level allowable by law.. possibly as much as 30%. This will require the monthly payment to increase. He will also begin to get negative entries on his credit report. Maybe after a year or less, the credit union will bring a collection suit in civil court. His situation is going to go from bad to worse. That $500 will turn into $1000 real quick! The best thing he can do is go to the bank and work out a payment plan, as soon as possible. If he waits too long, then he may have to deal with a collections agency, and they don't play nice.
I second this, my bank allowed me to overdraft even though I am opted out of protection (my debit card # was stolen so it wasn't really me making the charges; it was a secondary account so I didn't notice until I got a letter) I ended up having to mail a cashier's check for double the amount originally charged to my bank, and I had 21 days from the day I got the letter to do so or they would send me to collections. All told, they were going to send me to collections after 4 weeks over a $40 overage. I shudder to think what could happen over any substantial amount; lawsuits were mentioned in the letter(over $40!!). Best of luck.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Other Recent East St. Louis Discussions

Search the East St. Louis Forum:
Title Updated Last By Comments
Sue johnson 1 hr really 9
IL Ill. House Approves Legalizing Same-Sex Civil U... (Dec '10) 1 hr Cali Girl 2014 48,893
Ill. Gov. to push for assault weapons ban 2 hr for real 7
Make money in Cahokia 2 hr So you are back 11
why do bikers like to play dress up (Oct '12) 2 hr Dr mlk jr 8
What happened to Roger forshee 2 hr just saying 18
Granite City charity needs help fixing its leak... (Nov '12) 3 hr ryanbrowngc 15
•••
•••
•••
East St. Louis Dating

more search filters

less search filters

•••

East St. Louis Jobs

•••
Enter and win $5000
•••
•••

East St. Louis People Search

Addresses and phone numbers for FREE

•••

East St. Louis News, Events & Info

Click for news, events and info in East St. Louis
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••