can't pay credit card bills, money frozen by bank
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I'm probably one of those whose previous poor financial management led me into trouble with the banks ,,, not one but a few. Now, my credit cards are cancelled, the banks demand payment and some also threaten to file bankruptcy charges. But what irks me most is when they "vacuum" the money in my bank account to pay for what I owe them without even informing me about it first. Imagine ... yesterday I had about $8000 in my account and today it's frozen ... and when I called them, the officer said that they will use the money to pay for my credit card and line of credit bills. And now I only have the few dollars in my wallet to support my family; not to mention being unable to pay for household expenses and other bills. This is most inconsiderate of them!
Does anyone have similar experience as this before? Is there anything I can do to get the bank to un-freeze my money? Can anyone offer any help or advise...?
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u have money and u are not repaying?
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You should have been spending your money.
Don't you realise you have spent the bank's money. You conveniently forgot about it. That money is still money. You must return it, plus pay for the privilege of using money that is not yours.
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Call up the banks and have a chatwith them.
They may be able to come upwith a plan for U.
But at time their plan may not be acceptable by U.
No bank want to make U a bankrupt, they only want their money
back and with interest.
Learn to manage your money wisely.
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haha who ask u to apply for credit card from the bank you have your account in. Anyway, i don't think it's inconsiderate of the bank. They are after all, a bank.
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Originally posted by prinkiwillie:
I'm probably one of those whose previous poor financial management led me into trouble with the banks ,,, not one but a few. Now, my credit cards are cancelled, the banks demand payment and some also threaten to file bankruptcy charges. But what irks me most is when they "vacuum" the money in my bank account to pay for what I owe them without even informing me about it first. Imagine ... yesterday I had about $8000 in my account and today it's frozen ... and when I called them, the officer said that they will use the money to pay for my credit card and line of credit bills. And now I only have the few dollars in my wallet to support my family; not to mention being unable to pay for household expenses and other bills. This is most inconsiderate of them!
Does anyone have similar experience as this before? Is there anything I can do to get the bank to un-freeze my money? Can anyone offer any help or advise...?
U most likely have to get some credit restructuring help.
Without knowing your expenses,8K is a lot of money in the bank for someone owing the bank money.Since U have mentioned they have demanded money from you...I take it as U had the chance to work out something with them.
Credit Counselling
Credit Bureau
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people don;t care got money or no have money. as long as flash one credit card feels so cool. just like driving car, wearing smart goinf bank deposit money (but i am sure its not your money but someone's or company money)....
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If TS is a chio bu just strip naked in front of the bank officers and they may unfreeze your bank account
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Originally posted by prinkiwillie:
I'm probably one of those whose previous poor financial management led me into trouble with the banks ,,, not one but a few. Now, my credit cards are cancelled, the banks demand payment and some also threaten to file bankruptcy charges. But what irks me most is when they "vacuum" the money in my bank account to pay for what I owe them without even informing me about it first. Imagine ... yesterday I had about $8000 in my account and today it's frozen ... and when I called them, the officer said that they will use the money to pay for my credit card and line of credit bills. And now I only have the few dollars in my wallet to support my family; not to mention being unable to pay for household expenses and other bills. This is most inconsiderate of them!
Does anyone have similar experience as this before? Is there anything I can do to get the bank to un-freeze my money? Can anyone offer any help or advise...?
Banks have the right to "vacuum" ur bank accounts to settle your outstanding CCD bills. This is stated in the CCD card agreement. It's also not as if the bank clawed ur cash the first few times you miss payment. You had money, and you obviously choose not to pay back, naturally the bank will take action. I am also sure that the bank had sent many reminders and called you before taking action to freeze ur assets. It is most inconsiderate of you for being irresponsible and yet blaming others.
Bank is unlikely to unfreeze your monies, unless you can prove you can pay them back. If u have other asset maybe insurance or FD that is not matured yet, sometimes, the bank may accept that, meaning you sign off the proceeds of your insurance or FD to the bank.
Just FYI, your credit rating will be drastically affected. Credit rating will affect your eligibility to take loans of any kind in future.
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my advice for u is to pay up.
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Originally posted by Hello Kitty:
my advice for u is to pay up.
what if u cant pay up? better seek help from CCS
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u can file a complaint with FIDRAC, but need to pay $50 for them to do an investigation and mediation.
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y canot pay?
loss of income?
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Originally posted by prinkiwillie:
I'm probably one of those whose previous poor financial management led me into trouble with the banks ,,, not one but a few. Now, my credit cards are cancelled, the banks demand payment and some also threaten to file bankruptcy charges. But what irks me most is when they "vacuum" the money in my bank account to pay for what I owe them without even informing me about it first. Imagine ... yesterday I had about $8000 in my account and today it's frozen ... and when I called them, the officer said that they will use the money to pay for my credit card and line of credit bills. And now I only have the few dollars in my wallet to support my family; not to mention being unable to pay for household expenses and other bills. This is most inconsiderate of them!
Does anyone have similar experience as this before? Is there anything I can do to get the bank to un-freeze my money? Can anyone offer any help or advise...?
You cant blame the bank. Its your poor financial management that leads to what you are today.
The only way is to stay poor. Be humble. Stop all the thoughts about your extravagant spending bad habits in the past.
Get help from your immediate family members to support your family first, and slowly pay your immediate family members the money you owe them through your salary. -
Originally posted by Hello Kitty:
y canot pay?
loss of income?
money no enough lor kitty. why dun u lend him some money to tide over for now.