I'd appreciate any insight from the group on this situation. I have a Collection Agency reporting $275 from 4/1996. I sent them a Validation and they responded with a printout from an old checking account I closed at that time. The $275 is all from OVERDRAFT fees on that account. All actual checks were paid; but the bank assessed over $300 in fees for six small checks. I've never heard anything from this CA. I don't think a printed account statement is adequate validation. What would they have to show for a checking account? What is the statute of limitations for BANK FEES? I cant' decide if this is like an open acct., a written contract, or what? Any suggestions would be appreciated.
This may be a dumb question, but if they paid all the checks, why are there overdraft fees? If they paid the checks, there must have been money in the account. After all, you said they are not asking any reimbursement for the checks paid.
What did you ask for in the letter? Did you ask for the right things? Did they answer every thing you asked for in the letter?
Let me clarify. I made a depsoit to the account (a check from a client) which was not paid by their bank. My bank debited my account for the amount. When the six checks came through the bank first returned them. Then, the checks were redeposited within a couple of days and this time the bank PAID them. But, they charged me $25 X 6 X 2 in overdraft fees. In the interim, I had found out about the problem and made a deposit to cover the checks. I used the Lizardking type Validation letter requesting proof that I owed the money, a copy of the contractt, their authority to collecct, etc. They did not provide anything except the statement for the account from the last month it was open. Greg
I would like to know what the SOL on checking account fees are as well. I have the same situations as the above poster. I have a collection for $126 that I would like to have removed. The date of last activity is 09/2006. They sent me the last statement that shows when it was written off for validation. I know that doesn't count, but now i have proof. I have no problems paying this, but would like it deleted. Just want all the ammo I need. Ryan
I think a checking account would be considered a written contract for SOL purposes. When you opened the account you had to sign all kinds of written forms. Unless you live in Ohio, where SOLs on written contracts are 15 years, you should be safe from any suits.
