Email this to a friend
0
votes
31/10/2007 9:48:06 PMHI alimic,
I feel this question seems quite personal to you, and I sympathize with problem as far the incredulous charging goes. I am not sure if you are working and your salary state but I shall not ask you further as information is personal right :) ?
I am not a professional, nor a 'financial thinker' and hence I always avoid playing 'future money' or loaning greatly, owing to this weakness. However, seeing your problem, i feel you have to consult someone you can trust to help your financial issues. Importantly, discuss it to someone who knows about dealing in bank issues, not by any "Tom, Dick or Harry" who think he or she can play 'consultant' to your issues. I fell, IMO, that you either consult more with the payment of the bank ( if you have not), or seek some relatives or friens or work out a plan a repay the job by working or earning through part time or sidelines.
Do not hope on fast easy cash next time. Temptation is high so live a smart and fruitful life :)
1
votes
1/11/2007 5:57:14 PMI understand that you have overdrawn your account some time and the present balance shows -270 with some interest charges added on. I dont know why a bank would charge $35 every five days. Generally banks calculate interest on a monthly cycle. You need to ask them several questions. ( I dont understand when you say "After 60 days of this they will close my account.")
What are these charges and the basis for calculation. is it the amount or the time. Iscit interest or penalties.
Can you ask for a Loan against your salary or fixed deposits or shares so that the Loan amount is fixed without further heavy charges and you can gradually pay in small installments. The proceeds of the Loan can be adjusted to the Overdraft account making it zero.
What action can they take if you can not pay the overdraft?
Can they waive a certain amount of interest as you are not in a position to pay the full amount. Some banks do waive the penal charges or reduce the amount of interest etc.,
It is advisable to seek an appointment with a Manager or relationship Manager ( not a Teller or Counter-clerk who is not authorized to think out of the box) who can offer you some reasonable alternatives.
The final solution would be to request a close relative or friend for a Qard-Hasan ( Loan with no conditionsd and no interest) and close the overdraft account to get out of Riba ( Interest). You can pay in small instalments to the relative / friend.
I hope this helps.
0
votes
4/11/2007 3:48:37 PM@ islamicbanker
Very good points noted!! Well he's a banker after all :P
To everyone:
I just wanna add to all users on this community site that if alimic is having difficulty with raising the cash to close his account we can all help him out by raising some cash for him to pay his bank back and to support him on what is actually the reason they are doing so.
Well of cause someone or maybe everyone can set up a meeting to assist him and meet up with him before loaning him the cash or donating. We are a community after all although it might be online.
@ alimic
Please update us on your situation.
Salaam,
NB
© 2007 Nasi Briyani Lounge.
Home | About Us | Contact | FAQs |
Blog |
Sitemap | Tell a Friend.
Brand and design by Nasi Briyani
Currently, my account is (-270)negative and I've asked my bank to close my account so I can pay the debt. They refuse to close it until I have a balance of $0. In addition, every five days that it is negative, they charge me $35. After 60 days of this they will close my account. I can't afford to pay all these fees for overdraft. How can I protect myself from this so I don't pay for all those fees. I would gradually like to get that balanced paid off but feel it is impossible when I am being charged every five day.s
125 pts
rookie
1
votes