Should I be worried about this debt?
 

Cliff notes at bottom.

Two years ago I was still at college. I had begun to apply for summer internships/jobs when I got an email from some guy saying they had pulled my resume from Monster. It said I was a payment acquisitions specialist and I had to cash checks from him and send them to someone else and I would get a fee.

Of course normally I would have been this is too good to be true and all my roomates were like this is a scam. But because I had been looking for a job and it said he got my resume from Monster I guess I thought it might be legit.

Anyway, I contacted him, went to a professional looking website and filled out an application. I told him it sounded sketchy and he gave me some BS. Anyway, my roomates were like this is obviously a scam, so I decided to receive the check and give it to my bank.

I then waited two weeks. I figured that if this was a scam the bank would be able to detect a bad check by then, but nothing happened. So I got the cash (about 5k) and sent 4.5k to some other guy. A few days later the bank says the check was bad and my account it at -5k.

I call the guy and of course he doesnt answer and the website is down. Anyway, I never go back to that bank and just open a new account with another bank.

The bank has been calling me every so often asking how I want to make repayment. I keep telling them about the scam, say I am a broke college kid, and it was their fault for cashing a bad check. Today I got a call from them saying how would I like to make repayment. I explain what happened again and say it was their fault for cashing the check.

They say they are moving to legal action to reclaim the money.(They also used legal action threat about six months ago.) Normally I just ignore them, but I started thinking about whether or not I could be forced to pay. I checked my credit history and it is perfect as of right now so this isnt showing up to creditors. Also, the bank has my old address that I have not lived at in two years. Should I be that worried?

Cliff Notes:
In college I fell for one of this check scams and owed by bank about 5k.
I never went back and have been ignoring their repayment requests for two years.
Today they called and said they would be taking legal action, even though they said they would do this six months ago.
Can I get away with never paying/is it my fault?

Re: Should I be worried about this debt?
 

You are a dumbass. This is 100% your fault. Are you the same guy who forced the western union worker here to send your money order to Nigeria?

Re: Should I be worried about this debt?
 

HAHAHAAH. you are in big trouble pal. Time to call mommy and daddy and ask for a 5k loan

Re: Should I be worried about this debt?
 

[ QUOTE ]
Anyway, I never go back to that bank and just open a new account with another bank.


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Why did you quit this strategy it worked so well last time.

Open a new life under a different name in Florida ldo. If you already live in Florida fake your death by jumping into an alligator pit, letting one of them swallow you, then cutting out of his belly 6 weeks later once you get to MEHICO.

Re: Should I be worried about this debt?
 

sux man,u really fell for a scam like that??

i'm guessing the bank will eventually come after u for this, it's hard to imagine they just let this slide

Re: Should I be worried about this debt?
 

but it has taken them two years already and they have not really done anything but yell at me on the phone.

Re: Should I be worried about this debt?
 

So what did you spend your 500 on?

Re: Should I be worried about this debt?
 

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but it has taken them two years already and they have not really done anything but yell at me on the phone.

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Get a new phone number so they can't triangulate you like on 24.

Re: Should I be worried about this debt?
 

You are liable for the debt.

You can always not pay it, but your credit will be dinged and you won't be able to open a bank account for about a decade. No, I'm not joking.

Re: Should I be worried about this debt?
 

[ QUOTE ]
but it has taken them two years already and they have not really done anything but yell at me on the phone.

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oh nevermind then you should be fine.

Re: Should I be worried about this debt?
 

also, isn't ur credit rating being crushed by this debt being unpaid??

Re: Should I be worried about this debt?
 

I'm thinking of a number between 0 and 8. Do you know what it is? It's your credit score.

Re: Should I be worried about this debt?
 

Try to negotiate repaying a smaller amount and learn your lesson. Also, I missed the part where you called the cops and filled out a police report.

Re: Should I be worried about this debt?
 

I would fix that "being an epic dumbass" problem first. The debt is likely the least of your worries given the other problems it's probably creating.

Re: Should I be worried about this debt?
 

this debt is not showing up on my credit history as of right now. My history shows the 5 credit cards I have used and since I never have been late on a payment my score is near perfect as of right now.

Is 5k a huge debt for a bank to collect?
Doesnt the fact that is has been two years and nothing has happened reflect that I might be ok?

Re: Should I be worried about this debt?
 

[ QUOTE ]
this debt is not showing up on my credit history as of right now. My history shows the 5 credit cards I have used and since I never have been late on a payment my score is near perfect as of right now.

Is 5k a huge debt for a bank to collect?
Doesnt the fact that is has been two years and nothing has happened reflect that I might be ok?

[/ QUOTE ]

Banks have lawyers and accountants on staff whose only job is to identify and collect debts. Sure they will go after $5 million embezzlers first, but they will eventually find time to squash you like a bug. It will most likely happen when they get bored and need something to fill their downtime.

Re: Should I be worried about this debt?
 

it probably won't show up on your credit report until the bank gives up and sells your debt to a collections agency. there is very little chance you can avoid this eventually getting on your credit report without at least negotiating with them. that it is not on your credit report yet in no way means it won't eventually show up once they eventually escalate

Re: Should I be worried about this debt?
 

[ QUOTE ]

Doesnt the fact that is has been two years and nothing has happened reflect that I might be ok?

[/ QUOTE ]

no. jesus you are stupid. You seriously thought someone was going to send you checks so that you could send them back smaller checks? I really am at a loss for words. This guy is like the perfect example of the human race being in big trouble.

Re: Should I be worried about this debt?
 

I used to work in 3rd party collections and we often were sent accounts resulting from this same situation.

Basically, it depends on the bank. My office would not litigate unless the debt owed was over 5,000 and the banks would not authorize us to litigate unless it was over 10k.

A few things to understand...it is illegal for a company to pressure a debtor by threatening legal action unless they intend to follow through on that threat. If they told you it was going to legal action unless you paid by xx date and they did not then that is a pretty serious violation of the Fair Debt Collection Practices act. It is illegal for them to communicate that a debt is owed to any third party or to ask for any information from a third party that is not directly related to locating you.

The bad news is that banks communicate with each other and you will be unable to open a checking account for 10 years and this matter will affect your credit history negatively in other ways.

If the bank does choose to litigate you can usually look to settle the debt for less than 50% of what is owed prior to litigation. Most banks will not litigate on checking accounts less than 10K because the demographic that allows that type of debt is generally uncollectable.

My advice is to determine if you are in a 1 party disclosure state (if you are you can record phone conversations without disclosing that you are doing so) and keep a record of all conversations with the bank. Let them call you and read up on the FDCPA...most 3rd party collectors do not follow the law properly and each offense that you can get on tape is a pretty clear cut $10,000 violation. Ongoing and willfull abuse of the law (such as repeatedly threatening litigation if they don't intend to file suit) can get you much more than that.

Re: Should I be worried about this debt?
 

In essence then, the blame falls sqaurely on me? The bank is in no way responsible for allowing the bad check to clear?

GOD [censored] DAMIT. How bad will this hurt my score? And for about how long?

Re: Should I be worried about this debt?
 

[ QUOTE ]
[ QUOTE ]
this debt is not showing up on my credit history as of right now. My history shows the 5 credit cards I have used and since I never have been late on a payment my score is near perfect as of right now.

Is 5k a huge debt for a bank to collect?
Doesnt the fact that is has been two years and nothing has happened reflect that I might be ok?

[/ QUOTE ]

Banks have lawyers and accountants on staff whose only job is to identify and collect debts. Sure they will go after $5 million embezzlers first, but they will eventually find time to squash you like a bug. It will most likely happen when they get bored and need something to fill their downtime.

[/ QUOTE ]

This statement is ill informed. Creditors give up on bad debt all the time.

Re: Should I be worried about this debt?
 

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In essence then, the blame falls sqaurely on me? The bank is in no way responsible for allowing the bad check to clear?

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YES! holy [censored] it took you 2 years to realize this? Why didnt you decide to look into things when like EVERYONE around you was 100% sure it was a scam?

Re: Should I be worried about this debt?
 

[ QUOTE ]
I then waited two weeks. I figured that if this was a scam the bank would be able to detect a bad check by then, but nothing happened. So I got the cash (about 5k) and sent 4.5k to some other guy. A few days later the bank says the check was bad and my account it at -5k.



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How many people would actually send you a check for 5k? Why the [censored] would you send the money back? You should of partied like a rockstar and atleast had some good stories to tell. Now you just owe 5k with interest.

Re: Should I be worried about this debt?
 

[img]/images/graemlins/frown.gif[/img] Send them 5k in Monopoly money?

Re: Should I be worried about this debt?
 

"So perhaps you will be interested in something no house can be without...volcano insurance. According to my uncle who is a real whiz with volcanoes, a volcano is coming this way."

[img]http://rds.yahoo.com/_ylt=A9iby4FhywNHDikBWQ2jzbkF/SIG=12ggbnnj7/EXP=1191517409/**http%3A//mmii.info/icons/SuperSnake2012/familyguy_salesman.gif[/img]

Re: Should I be worried about this debt?
 

WRONG. WRONG. WRONG. The FDCPA applies to 3rd party collections only. The bank is the orinal party and is not bound by the FDCPA.

Re: Should I be worried about this debt?
 

[ QUOTE ]
In essence then, the blame falls sqaurely on me? The bank is in no way responsible for allowing the bad check to clear?

GOD [censored] DAMIT. How bad will this hurt my score? And for about how long?

[/ QUOTE ]

While it does suck that you got scammed, and ultimately the scammer is to blame, you're also lacking huge common sense skills. were you really under the impression this whole time that it was the banks fault and would just go away?

knowing nothing about banking, but using common sense, you can:
1. not pay. this will make your credit and financial dealings suck more.
2. pay. they'll probably let you repay less than the full amount, over time, and it will make your credit and financial dealings suck less.

Re: Should I be worried about this debt?
 

[ QUOTE ]
[ QUOTE ]
In essence then, the blame falls sqaurely on me? The bank is in no way responsible for allowing the bad check to clear?

GOD [censored] DAMIT. How bad will this hurt my score? And for about how long?

[/ QUOTE ]

While it does suck that you got scammed, and ultimately the scammer is to blame, you're also lacking huge common sense skills. were you really under the impression this whole time that it was the banks fault and would just go away?

knowing nothing about banking, but using common sense, you can:
1. not pay. this will make your credit and financial dealings suck more.
2. pay. they'll probably let you repay less than the full amount, over time, and it will make your credit and financial dealings suck less.

[/ QUOTE ]

3. Hope the statute of limitations for filing a claim expires before they get around to filing their lawsuit. It sounds like it might be close already.

Re: Should I be worried about this debt?
 

OP.

ALLOW ME TO INTRODUCE MYSELF. MY NAME IS CHARLES ONWUDINJO. I WAS A PERSONAL SECRETARY OF THE PAST PRESIDENT OF NIGERIA, WHO DIED RECENTLY IN A PLANE CRASH WITH HIS ENTIRE FAMILY, LEAVING NO HEIRS. I AM THE ONLY ONE WHO KNOWS THE WHEREABOUTS OF HIS FORTUNE.



HIS ESTATE OF US$20,000,000 (TWENTY MILLION DOLLARS) WILL REVERT BACK TO THE GOVERNMENT IF I CANNOT FIND A NEXT OF KIN.



I NEED YOUR HELP. I CAN ORGANIZE PAPERS NAMING YOU AS THE NEXT OF KIN. I WILL THEN USE YOUR BANK ACCOUNT TO TRANSFER THE FUNDS FOR THE PERIOD OF ONE MONTH. I WILL LEAVE 10% OF THE TOTAL AMOUNT IN YOUR ACCOUNT AS A REWARD FOR YOUR EFFORTS.



IF YOU ARE WILLING TO HELP ME, PLEASE IMMEDIATELY FORWARD YOUR NAME, ADDRESS AND BANK ACCOUNT NUMBER.


PLEASE KEEP THIS TRANSACTION SECRET.



REGARDS,
CHARLES ONWUDINJO
NIGERIA

Re: Should I be worried about this debt?
 

someone pm idi about this kid

Re: Should I be worried about this debt?
 

Jazzy3113, Ill send you a chack for 10k, just send me 9k on PS and we'll call it square.

Re: Should I be worried about this debt?
 

Jazzy, dont listen to that guy. I will take 5k.

Re: Should I be worried about this debt?
 

numbnuts:

https://www.annualcreditreport.com/cra/index.jsp

read about it here:

http://www.ftc.gov/bcp/conline/pubs/...eereports.shtm

my guess is you're [censored]

negotiate

Re: Should I be worried about this debt?
 

i have a vlaid drivers license and social seurity card from florida that im holding as collateral for someone i lent money to...ill gladly sell it to you lol

Re: Should I be worried about this debt?
 

get used to paying with cash from now on

Re: Should I be worried about this debt?
 

I thought that banks held cashed checks until they cleared. According to your post, you had no other money in your account, so the bank allowed you to send 4.5k of the 5k that they cashed. Had it not been for the 5k check, your 4.5k would have bounced.

The bank really screwed up here, but banks are big companies and according to the law, big companies are never at fault

Re: Should I be worried about this debt?
 

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I'm thinking of a number between 0 and 8. Do you know what it is? It's your credit score.

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I lol'd hard.

Re: Should I be worried about this debt?
 

[ QUOTE ]
WRONG. WRONG. WRONG. The FDCPA applies to 3rd party collections only. The bank is the orinal party and is not bound by the FDCPA.

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While that was originally true many states have extended the FDCPA to apply to original creditors as well and if the original creditor represents themselves as being independant, even if they are not, they must abide by the rules of the FDCPA.

Also, if he's receiving calls 2 years later it's almost certainly from a 3rd party collector, not the bank.

Re: Should I be worried about this debt?
 

[ QUOTE ]
I thought that banks held cashed checks until they cleared. According to your post, you had no other money in your account, so the bank allowed you to send 4.5k of the 5k that they cashed. Had it not been for the 5k check, your 4.5k would have bounced.

The bank really screwed up here, but banks are big companies and according to the law, big companies are never at fault

[/ QUOTE ]

I don't even want to get into the disaster that would ensue if banks were responsible for remitting funds from cashing forged checks...would you like to wait 4-6 weeks for your checks to clear?

Re: Should I be worried about this debt?
 

[ QUOTE ]
"So perhaps you will be interested in something no house can be without...volcano insurance. According to my uncle who is a real whiz with volcanoes, a volcano is coming this way."

[img]http://rds.yahoo.com/_ylt=A9iby4FhywNHDikBWQ2jzbkF/SIG=12ggbnnj7/EXP=1191517409/**http%3A//mmii.info/icons/SuperSnake2012/familyguy_salesman.gif[/img]

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lol nh. when reading the op, that is exactly the guy i had in mind.

"How does it work?! Easy as PIE is how it works!!"

edit: oh yeah, OP, this is going to cost you, be it in legal fees fighting it, or just paying back the 5K. I'm sure they can put you on some sort of monthly plan.