At 10:06 AM 10/30/2003, you wrote:
>I did contact them. Went in, talked to them, everything. The full story is
>that American Express was set up with an automatic $5 withdrawal every
>month. I had the money to cover it placed in the account ($20 actually)
>right after their first try. So we had the first try, bounce and then -$30
>set to the account. The $20 added didn't cover it so the next $5 attempt
>added another $30 and again and again.
>The bank gave me the runaround by saying I had to file a grievance with
>American Express and have American Express pay the $120. Riiiiiight. As
>expected, it was rejected. We had to go in, pay the full amount, including a
>banking fee for the month AFTER all of these charges as they canceled the
>account after doing the monthly charge and then added us to the chex system.
>We talked to another branch which was more sympathetic but could do nothing.
>No one could do anything because it was all 'automatic'.
>Even with paying the money to the bank and having the debt removed from chex
>system, our name is still listed with them (though with a paid debt).
>Problem is, even a paid debt in chex system is a red flag. I'm praying that
>this does not get linked to my personal account. If it does, it's even
>worse. As of now, it's only on the HoF business account. Still not good, but
>not a killer.
>
> > I'm not sure a $120 charge is as serious as, say defaulting on a loan,
> > bankruptcy or summary judgments as far as severity of damage to your
> > credit record, but your bank is obviously extorting money from you. If
> > it is a $30 overdraft charge x 4, it's a serious issue. You should
> > contact them and learn what steps to take to file a claim with their
> > grievance department and also, learn independently what steps you should
> > take to file a grievance with appropriate federal regulators. It'll
> > only cost you a phone call or two, some web time and a couple of
> > stamps. It might be able to be resolved once you raise enough of a fuss.
> >
> > Before then, though, I wouldn't do anything that scans your credit
> > rating. Red flags will trigger other red flags, and if the initial ding
> > is removed or downgraded (which it can be), those consequential denials
> > would still be in effect.
> >
> > - JIim
>
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