A collection agency called me regarding an account with a payday loan company that was defaulted. I made arrangements to pay back the loan at a rate of $100.00 per month, the last payment being $79.00 in the month of June. THe company, NRS, went in to my Wachovia account and took out $100.00 initially in March. ONe week later, the company went into may account again and took out $another $100.00. I called NRS and they agreed this would not happen again.in 2- weeks, the company went into my account again and took out the full balance of the loan which was $179.50. This with drawal sent my account into the overdraft. I called the bank, Wachovia and explained my situation. I was transferred to the Loss Management Department for review. The person informed me that she could not refund my money and I needed to call NRS to see what I could do.
THe person on the phone acknowledged taking the money and then got veyr belligerent saying well now your client is paid off. THe Wachovia person heard all this conversation and still refused to refund the money and then started saying this is not an illegal transaction and that I made an agreement with this company. I tried to explain to the person that this is an unauthorized transaction and the person would not hear any of it. I feel that anyone taking money out of my account with out my consent is making an illegal transaction and that my bank holds the repsonsibility to ensure this does not happen. WHen situations arise where this does happen as in my case, I feel it is necessary for the bank to refund the money. SIMply put. I did not authorize the transaction. THe customer service person tried to make me see if you go into an agreement with someone, it does not matter when the person takes the money out of the account and the bank supports this.
My problem with all this is I did not give this company my persmission to debit my account on the days that the company did so. I feel the bank is allowing the company to take advantage of me by not properly assessing and categorizing the situation. Further, the account is still in the overdraft and I have been receiving threatening calls from the bank telling me that they are going to report this information to the creditacard and bank companies and I will not be able to open an account with anyone or cash a check for 5- 7 years. Mind you, the account would not have been in the overdraft had the person bothered to properly handle the situation and refund my money. THe bank has a habit of allowing person to get away with illegal activity and then not properly responding to these situations.
In another incident right befor Christmas, a young lady who was visting in my home stole my credit cards. SHe was a child in the care of the state. I called the bank and was told where the transactions occurred and that I should be able to get film footage of the occurrences. I retrieved the film from one of the stores and it showed the young woman taking the money out of the account at the exact time the bank recorded. The bank failed to return me all my money and I received enormous overdraft fees that were also not refunded.
Wachovia is not fulfilling thier obligation to me as a consumer. Wachovia is the cause of my financial hardships and the reason I have to borrow money from payday loans to make ends meet. I pay almost $800.00 per month in overdraft more or less per month. THe bank seems to repopulate the deposit and withdrawals and it you have placed money in the account when you thought it was not overdrawn, if the bank finds that prior to your deposit that you would have had an overdraft, when they go back and reporulate, they will overdraft the account and then take out their fees prior to updating anything else, overdrafting the account even further.
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