Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Threatening letter

  • 30-01-2016 11:55pm
    #1
    JellieBabie
    Registered Users Posts: 129 ✭✭


    Hi

    I recently changed banks. Had an overdraft in old bank which was overdrawn. Before changing my bank I asked to meet with an agent in my old bank and discuss paying off my overdraft. I agreed verbally to pay off my overdraft over time at a set amount each month. This is a small overdraft.

    This was three months ago. Money has been going into my old bank account on a monthly basis to pay off the existing overdraft.

    I received a letter from said bank on Friday demanding I pay the remaining monies owed immediately or further action would be taken. It also stated fees would be incurred weekly for every week it remains overdrawn. This letter was written in a very aggressive and intimidating tone.

    Is this legal? I had a verbal agreement with the bank and they are moving the goalposts now and haven't engaged in any talks with me to settle this.

    How should I proceed?


Comments

  • #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    A verbal agreement is worth about the same as the paper it's written on. Tbh, it's most likely an automated letter that was set to print for every account that's overdrawn by X amount for Y length of time so I wouldn't get too bothered with it. But yes, it's perfectly legal for a financial institution to ask you to pay them the money that you owe them and to inform you that they will pursue you through legal channels if you don't. That's not a threat; it's informing you of their intentions. they won't pursue it legally though as you're making payments. You will however be charged interest on the amount outstanding, as per your terms and conditions. Again, not a threat; just information about the T&Cs you signed up to when opening your account.


  • #3
    skippy2
    Registered Users, Registered Users 2 Posts: 393 ✭✭skippy2


    I have and would record any conversation with issue like this where you might need it as backup. Just put your phone on record and leave it in your jacket pocket. You can then refer to it should the need arise............legal or not I prefer to have a recording of important meetings where someone might conveniently forget what was agreed


  • #4
    OU812
    Registered Users, Registered Users 2 Posts: 6,056 ✭✭✭OU812


    skippy2 wrote: »
    I have and would record any conversation with issue like this where you might need it as backup. Just put your phone on record and leave it in your jacket pocket. You can then refer to it should the need arise............legal or not I prefer to have a recording of important meetings where someone might conveniently forget what was agreed

    Bad advice. Totally inadmissible in the case of legal action.

    You're better off saying to the other party at the beginning, that you're going to be recording the meeting for your records.

    If they object, then the meeting doesn't go ahead & you're no worse off than before (& I'd be concerned that they won't go ahead with it being recorded), if they consent to it, then you know everything's above board.


Advertisement