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Bank error nsf fees disaster: what should I do?

Discussion in 'Other' started by Dovegirlsarah, Mar 18, 2017.

  1. honestpointofview

    Staff Member Advocate

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    Hi Sarah

    As you reached a decision on what to do I would not normally post but in this case i really wanted too.

    I am so so, impressed with your attitude. You have fought for what you wanted and and got a reasonable resolution. Importantly you have recognised when to take the positives and move on rather than fighting on and on. In my job i defend claims. I see people spend years and years fighting with legal claims and yet I think in nearly 20 years i have only seen one person truly get everything they really wanted (the maximum a court would award) and therefore really win. Yet you have to ask if they and all of those who spend years and years fighting every really win, in fact in my view they usually lose something so precious. They have lost something no money will ever compensate for time, so much time. A claim can take ever waking moment for years and years. For me it is a job and I go home and forget about it. For them they spend every waking moment thinking about their claim; every time the phone rings, every time the post comes, they are reminded of the claim. It becomes all consuming and it can not only take time but have a huge impact on their well being, their mental health. The reality is that if there is truly is a winner then it is the lawyer.

    So whilst it is your choice, like others i admire your tenacity and attitude for getting to this point but most importantly your sensibility in calling it quits and moving on with your life. I wish you all the very best.
     
    #21
    Last edited: Mar 19, 2017
  2. jsn55

    Staff Member Advocate

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    Nobody could have said it better, John. So often I want to counsel an OP to just walk away and be happy ... but that's not what we do here! People who can fight for months and years are a very interesting species.
     
    #22
  3. AAGK

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    I am glad your problem is resolved for now. I bank with Chase and am very familiar with its practices. You may find this info helpful going forward, in case this happens again, or one of these charges unexpectedly reappears on your account in 3 months (this just happened to me, luckily my account doesn't come with NSF fees)

    1. Chase charges a maximum of 3 NSF fees/day;
    2. Chase gives you 4 NSF freebies/year, no questions asked;
    3. When a merchant refunds a mistaken charge, the fee is automatically refunded to your account;
    4. If you are overdrawn for 15 days or more, you will face an additional fee and are at risk for account closure;
    5. Request a free copy of your chexsystems report in case you want to switch banks, I believe Neil mentioned this;

    6. Decline overdraft protection. By law, that feature is opt-in only. Once you opt out, Chase will simply decline charges when you do not have the money and fees are largely a thing of the past, except in a few situations.
     
    #23
  4. honestpointofview

    Staff Member Advocate

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    Hi Jsn55 - So far in my short time on the forum I have managed to avoid telling people to just walk away and be happy, although it is tempting. I will make sure I remember your words that is not what we do here and just mentally think "walk away, walk away." Privately it is what i counsel my friends to do if they have an issue and have been offered a reasonable resolution. They might in theory be able to get more but equally end up getting a lot less.

    The best example comes from a claim i dealt quite a few years ago. The person refused a very good offer (in the ten's of thousands) and went to court. They lost the claim so got nothing. I then got costs against them (in the ten's of thousands) which they had to pay. Of course that is an extreme but we have recently seen a case on the forum of a reasonable offer refused and then the person end up with nothing.

    I appreciate that people fight for years for a variety of reasons but for those who fight for years for "justice" (because they think they have been wronged) they would benefit from hearing from a judge i was once in front of. He asked the person why they were there (in court) and they replied "for justice". He replied "that's not what I am here for"; he was there to dispense cash and he told them to go and try and negotiate a settlement with me. Something they could have done 2 year's previously!
     
    #24
  5. Neil

    Neil Moderator
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    Just so you know, many of us are very impressed with the posts and help you give here.
     
    #25
  6. honestpointofview

    Staff Member Advocate

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    Hi Neil - coming from long term and such a knowledgeable advocate those are very kind words, so thank you. If i am only a fraction as helpful as you and the other advocates then i know i will have been some use.
     
    #26
  7. Patina

    Patina Moderator
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    I think the majority of posters on the forum are helpful in their own way.....it could be as simple as stating the same facts as another but in a different way that makes it easier to understand. I love to read about everyone's perspective, it is such a learning experience for me. @honestpointofview (and anyone else who visits the site regularly) thanks contributing your two cents here, your perspective is super helpful!
     
    #27

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