I wrote some checks and lost my job. Ok it was my fault I tried to float a few checks. I was 300.00 dollars overdrawn. I went to Wells Fargo and asked them to close my account and send the checks back to the merchants and I would take care fo the checks from that point. Wells Fargo told me they could not close out my account when there was a negative balance. Wells fargo told me if I stayed negative for 60 days then they would close out my account. I had not signed anything to the effect that they could electronically debit my account. I also submitted in writing that I did not want them electronically debiting my account.
I had a credit union at the time that debited my account twice by accident. They had me sign some papers because they had done that illegally and they did not want to be liable. The credit union told me there was a law that they were not to electronically debit an account unless they had permission. If they electronically debited after something had been given to the bank in writing it could put them in jeaopordy. Regardless to say Wells Fargo ran my checks through electronically over and over more then twice. My 300 dollar debt turned into a 1500 dollar debt. They have sent me to collection and to the checkcare systems. I have picked up every one of those checks from the merchants when they finnally closed out my account 120 days later instead of the 60 days the checks did then go back to the merchants. I am 52 years old and disabled. I just read in the aarp that these are unfair banking practices and they are trying to get these practices stopped. All of those charges are returned check charges.
Their collection agency wrote once and tried to make a settlement for so much of a percent. That would have ended up having me pay around 460 I wrote back and told them I would be more then happy to pay the 300 that I owed them. I just received another letter from another collection agency on them. I lost the letter. I have to call them tomorrow to get the address of the collection agency so I can also dispute this one. I still have copies of all of the letters that I took into them asking them to cease and desist from the electronic debiting. I also asked them to close out my account. They said in 60 days but they left it open longer so these bogus charges could accumulate.
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