OK. Real quick. I have two payday loans ($600 each) that was due to be paid back last week. Didn’t have the money. You know they end up submitting the check to the bank anyways, and if the money isn’t in there, they send it back to the loan center and my account gets an insufficient funds charge. No biggie. I was going to eat those costs and pay them on payday this week.
OK. So I go check my account……FOR SOME REASON THE LOAN CENTER SUBMITTED MY CHECK TO THE BANK $676 AND THE BANK MARKED IT AS A CREDIT/DEPOSIT!!!
OK. Here’s my question…While the bank is still stuck on stupid, should I hurry up and withdraw the money, pay back the other loan place their money, reborrow, throw that money back in the bank and when the bank figures out what happens and marks that credit/deposit as a debit like they should have, i’ll only owe the one place. The other place will have been paid off.
It’s almost like this is a little gift from God. Should I risk it? What’s the worse that could happen?
They will figure it out and you will end up screwed.
Banks and companies get to make mistakes and are given a chance to correct them just like individuals are.
You should not try to “game” the system. Remember: you are the little fish in the sea. Don’t try to play games with the big fish…let alone the sharks (banks). In the end you will lose.
Give it a few days to straighten out by itself. If it doesn’t, go to the bank and then the company and try to “help” them get things corrected.