Games U.S. bank plays

brandon j

Member
My wife just looked up are truck loan after paying. It 5 days early and we had a late fee what a crock of you know what. They said it was a prinsabal only payment and not a regular payment I am so mad I could spit nails I will be going to a local bank tommrow. What would you do?
 
(quoted from post at 19:59:12 01/19/14) My wife just looked up are truck loan after paying. It 5 days early and we had a late fee what a crock of you know what. They said it was a prinsabal only payment and not a regular payment I am so mad I could spit nails I will be going to a local bank tommrow. What would you do?

First I would have read the contract to include the fine print.

Rick
 
They have always worked with me on any problem. Get your figures all together and call the main number Tuesday and state your case. Let us know if they make it right.
 
I finally got rid of US bank a couple years ago, would NEVER have anything to do with them again, went to the local credit union, you get to deal with real people, instead of a computerized phone system, got a car loan a few months ago on the same day.
 
I like my small local bank. Real people that actually remember my name when I walk in. I haven't worked a loan with them, but I suspect I would be happy there.

Got married 9 years ago, wife came with a car note, upside down with a 17% tote the note high risk loan, just because she didn't know any better.

I got a 0% interest credit card offer, applied for it, put the car note on it and paid it off, being EXTREMELY careful to get every payment to them early!

I know, that was playing with snakes, but I pulled it off. Threw the card in the drawer, never used it again.
 
First I would look it up myself to be sure what it said.
Second, if they registered your payment 5 days early this time
and you still have a late fee then you're likely missing a payment
from last month or a previous month. They should show that.
If that is not your case, then I would pick up the phone and talk
to a human being at your bank.
If you bank at a big conglomerate with a local office, stop into
the local office. They'll take care of it and the fee. No worries.
 
Our local postmaster just told me the same story that you're telling. A local guy kept getting tagged for "late payments", even tho he was allowing a generous amount of time for the loan payment to reach it's destination. He started sending the payments by certified return receipt mail. Sure enough, the shyster outfit tagged him again for late payment, even tho he had a receipt in his hand showing they'd received it on time. He called them on it, and the spokesperson started stuttering and told him the late status would be dropped. Danged if they didn't try it again on the next months payment. So now he sends them all by certified return receipt. I think it costs something like $6 for that type of mailing. It really gripes me - they've gotten so greedy that now they're openly stealing from people, and getting away with it!
 
So,......you"re saying, because the payment was on a date other than it"s actual due date, they applied it all to the principal and still considered the regular payment as being due?
Helluva presumption on their part I would say!!
I would also be raising he!! with "em on that.
 
It"s a payment scam from the late 90"s or early 2000"s that got Providian, MBNA, and I think 2 other banks the largest fines ever at the time. I had a Providian card at the time and they would delay entering payments by up to 2 weeks in order to get late fees. I figured it out and called them. I went up the chain of command until I got one that admitted they were under investigation for their practices. I had a small balance, and they refunded all the late fees, paid off my balance, and closed my account. What tripped them up was the late fees were supposed to rotate to a different set of customers each month so most customers would just assume they were late and not worry about it. I got hit 5 or 6 months in a row and started fighting from the start. Here"s a link to the Providian case.

http://www.sfgate.com/news/article/Heat-Is-on-Providian-to-Settle-Fraud-Probes-2770069.php
 
Banks and post office are closed tomorrow so guess you have to wait till Tuesday
 
I had a similar problem with First Iowa Community Credit Union in the mid 90's. I'd deposit my paycheck, then we would write checks on the money I had deposited. We kept bouncing checks right and left and couldn't figure it out at first. What was going on was they were taking a couple weeks to clear my paycheck that was written on an account from the same credit union. I had a heated argument with their accounting dept that ended up with "I'm going to complain to the state bank examiners". As soon as I said that, the manager stepped in and refunded every bounced check fee they had ever charged me.
As soon as you say "State Bank Examiner", you will have their undivided attention.
That said, the best way to pay your loans or credit cards is by phone. They probably prefer you to mail a check in with hopes it will set in a stack on somebody's desk and become late by the time they process it. By paying by phone, it's only your fault if you don't call on time.
 
Ever since I got brave enough to do it online I have not had the issue with late charges. (Unless I forgot to push the button on the right day!!) I don't have it done automatically, just do it just like I would if I mailed it in, only online and save all the confirmation numbers, etc. Never have problems now.
 
make sure they are open, since it's m-l-k day.. i paid a loan on sat, the day due, got late charge, asked what the heck, sat depostis carry over to mon, making it late, asked who more stupid, you or the computer programer, close the banks if the computer doesn't work on sat...
 
They should do vhat the country of Iceland did, they put a lot of bankers in jail. Now the Anglo Irish Bank is starting to do the same in Ireland.

There are a handful of countrys getting rid of the banksters, Hungary, Iceland etc.
 
I had a pickup financed at bank. Payment was due on the 1st of the month. I noticed on my bank statement that 2 payments were taken in one month. Asked why and was told that since Monday was the 1st and also a holiday, the payment would be late on Tuesday the 2nd of the month. I told the bank manager that the bank would only get 1 payment a month. Also told him, do not take any more than one payment in a given month. Just a few months later, same thing happened. Paid the pickup off and changed banks.
The bank didn't want the payment to be one day late, but it was OK for them to take it 3 days early. Not my problem that they are not open for business when payments are due. I hate banks.
 
When you deal with Rattlesnakes and the Devil you know they are out to get you from the start same with banks.When you borrow $$$$ from them or anyone else you are beholding to them and at thier mercy.
The types of money
Gold is the $$ of Royalty

Silver is the $$ of gentlemen

Paper is the $$ of fools
and
Credit is the $$ of slaves
 
REMEMBER - The person behind the desk or counter did not do this to you. BE CIVIL. They're far more likely to want to help you out if you're not throwing a tantrum. Work with them. If they can't settle it, find a new bank or credit union. Try to find one with local control.

My wife works at a bank and she dealt with a real one last week. His situation was not the same as yours, all his fault (she won't give me details, due to privacy). He was a real jerkwad. Bordering on threatening behavior. He got a closed account for his effort. He's spitting tacks, too.
 
I pay almost everything on line now and record the confirmation number, date and time paid. I also save the emailed receipts for at least a month and check their website for that option, getting an confirmation email. It's the best system I've found.

I use my local bank. I had used some of the big banks like Key and found them to not be worth the trouble. Local you might pay a little more, but it's worth it. You also ahve to make sure it's the right local back. We tried a credit union that's local and they were complete shysters using a bait and switch to try and get us to take a mortgage there by offering a 3.25% loan and then having their appraiser lower our places value by over $150K and them offering us a 4.75% mortgage thinking we'd be so desperate we'd take it. Meanwhile our regular bank we had the mortgage with offered to lower it to 4.25% just by signing a request to do so. I don't trust credit unions for the most part.
 
Guess I am lucky. I live in a small town. With a small local bank branch. Everyone knows everyone. So it is easy to get things worked out.

We also have Wells Fargo in town. Which most in town will not do business with. You can tell the service is not the same
 
Makes me glad that I never made a payment on anything in my life. If we didn't have the cash, we didn't buy whatever we were thinking about!! Makes life a lot simpler.
 
dont get me started had one do a forgery forced to sign a paper saying i wouldnt sue them because they did nothing wrong.
one other bank came over while i was working off the farm and loaded all the cattle up and shipped them to a sale barn why? this is the truth a women got out of a mental hospital and claimed that the cattle on this farm were hers cops said it wasnt there problem.
and yes i have had them demand early payments
the best piece of advice i heard was banks should hand out condums when you get in the door that way when there done with you the dont transfer disease
 
Our local bank got bought out several times and would transfer accounts to the new owner -in this case Skank of America.
In addition to my accounts, I had a credit line with Skank Of America when building spec-homes and used a piece of commercial property that we had a lot of equity in for collateral. Built my last house in 1999, sold it and paid my loan off in full at closing. The Skank of America then notified me that due to low interest my new rate would raise to prime rather than the 2% below I had always paid. I told them to close my loan account which they did, although, I kept some of my savings and checking with them.
Fast forward 12 years - I sold the commercial property and the title insurance company noticed there was still a lien on the property. Huh? I contacted Skank of Americia to find out what was going on. They said I had no balance and the account was closed so there wasn't anything to release a lien on ??!! They would never let you speak to the same person and then started giving the same lie over and over that the lien waiver was in the mail to our county recorder's office. I ended up hiring an attorney who also became frustrated with them after 3 months of dealing with these morons in their Charlotte corporate headquarters. It took about 5 months to finally get my lien waiver thanks to my buyer's banker who knew someone that worked for Skank of America from years ago. She made the call and "magically" the lien waiver arrived at the court house 45 minutes later! Be sure you get your lien waivers from these dorks and that it has been recorded.
 
Small town banks will screw you just as quick as the big ones.

When our daughter was in high school, she was selected to go to Germany as an exchange student. I opened a savings account at a "friendly small town bank" to accumulate funds for her trip. I had a little money of my own in the account.

I also had an open note for $800 at the same bank for something or other. I knew the note was coming due, and I was waiting to get a notice in the mail so I could go in to the bank and either pay it off in total or in part and/or renew it.

About then, I needed some money in a hurry, so I simply withdrew $200 from that account. A couple of days later, I got an overdraft notice for $200 on that account. I yelled, "What the hell?" so loud they probably heard me at the bank. Turned out that on the same day I made the withdrawal, and without ever giving me notice on the note, someone at the bank had cleaned out the savings account and applied it to the note.

To say I was furious would be an understatement. I discussed it with a high ranking official at the Federal Reserve Bank in Kansas City. He told me, "By law, what they did was legal. I personally think it was highly unethical and totally uncalled for".

I wrote the president of the bank a letter that probably set his desk on fire, including the comments from the gentleman at the Fed. How do you tell a 17 year old girl that the bank cleaned out her savings account? They cancelled the overdraft, but they didn't restore the funds or the note like they were.

That was 20 years ago, and I haven't set foot in that bank again.
 
Read your comments. The banks are working every angle to build up fees and profits. Some of the angles are downright fraudulent.

We have this idea in America that our banks are very secure and honest institutions. I think that is half right, they are secure.

When you hear on the news that some Senator is against more banking regulations, he is usually being lobbied by the Banking industry to let them continue this flim-flam stuff.

Good honest bankers don't need this shyster junk to run a profitable business, but the big regional banks that bought up all the little local banks work every angle...some very dishonest.

Ps: It is true on both sides, biggest financial supporter of our current VP was the big Bank of America credit card operation MBNA in Delaware which reportedly, over the years, gave him $208,000 in campaign contibutions...and his son works there.
 
Mother and daughter co-owned the property they both lived on. They got an equity line of credit on it. Mom developed a gambling problem, and maxed out the credit line, about 12 grand, IIRC. Daughter decided to pay off and close the credit line, to cut Mom off at the pockets. She called the bank for a payoff figure, and said she wanted to close the line. They gave her a figure, she paid, and figured "that was that."

A few months later, bank calls and said why aren't you making minimum payments on the credit line? Turns out the payoff they had quoted was $51 short of paying off the line, so instead of calling and asking for more money, they just left the line open. Mom found out, of course, and promptly maxed it out again.

Daughter ended up suing the bank, bank ended up just cancelling the debt. They didn't want their incompetence to be laid bare in open court.
 

I remember about 10-15 years ago, there was a discussion in congress about making the date stamped on the outside of the envelope by the post office at their receiving it...would be the date the "bank/credit card co. etc would have to accept as their own "having received" date! That would stop the "sitting around on someones desk" excuse. Guess enough of our beloved leaders got paid off and didn't go through with it after all. Maybe one of these days we might accidentally get some real people in congress that actually give a flying hoot about us....not holding my breath.
 
I use a local bank that has been in business since early 1900. No govt involvement other than FDIC. No handouts. Make their own way. Love it.

Mark
 

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