06-04-2005 06:21									#1
	So, I need advice. Quickly. Avatar Enlargement: We've got the solution

Summary:

So, last summer I had a job and everything was fine, but then I had to pay some emergency expenses; this, of course, left me with very little cash, and I asked the people I was subletting from if I could defer payments for a bit.

We agreed on a timetable and I thought everything would work out--they were supposed to email me when they'd deposit the checks I'd written out and all that jazz.

Well, turns out they didn't, AND cashed all the checks at once, so now I'm overdrawn by quite a hefty sum--about $900 or so, which puts me in a very awkward position, especially since I'd had everything budgeted well, albeit tightly.

I have a job which can pay off this amount in about a pay period and a half, maybe a bit more, but that's a good three weeks being unable to buy groceries, pay any of my bills, and pretty much being utterly broke outside of the $10 I have in my wallet.

So, my question is this:

I don't want to cancel the checks outright, because I do owe this money and need to pay it off.

However, I really can't be overdrawn like this, especially by this much. Is there some other recourse I can take that does not involve asking my mom--or other people--for an emergency bailout?

	06-04-2005 06:35									#2
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quote: Originally posted by Comrade Tassadar No. Cancel the checks.

	06-04-2005 06:36									#3
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Call your bank and see what they can do for you.

	06-04-2005 06:37									#4
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Pardon if I'm not of any help, but what's the big deal if you owe the bank $900 instead of someone?

Of course you'll be paying some interest, but if you say you have a job and a steady revenue you should make it, right?

	06-04-2005 06:38									#5
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quote: but that's a good three weeks being unable to buy groceries, pay any of my bills, and pretty much being utterly broke outside of the $10 I have in my wallet.

I bolded the important part of that.

Especially since those bills are due, like, soon.

I never signed up for a credit card, because as a college student, that's a bad idea, right?

Well, I can't very well sign up now, because they'll see that I'm overdrawn and then deny me.

	06-04-2005 06:48									#6
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cancel the cheques, then talk to the people you are letting from and explain the situation, hopefully you can all work out a way to repay the money which doesn't leave you overdrawn. if you can't cancel for whatever reason then call the bank, like dan said.

	06-04-2005 06:52									#7
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so there's really no way out of it other than cancelling the checks?

and: you can cancel checks after they've taken the money out of your account and creating the overdrawn situation in the first place?

	06-04-2005 06:58									#8
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if the money has already left your account then i don't think you can, this might be different in the states (though i doubt it tbh). i would certainly talk to the people you owe and explain your situation to them at this point.

	06-04-2005 07:04									#9
	Lose 30 kilos (of popups)

You can't cancel a check that's already been paid. You can write the people a short note explaining that they had forgotten their end of the bargin, but you really have no other options. The bank would only reimburse you if the money was taken from your account wrongly, and you did sign the checks.

As for food, you can go to a food pantry. They'll help you out with about a week and a half's food.

I don't see what the big deal is about borrowing money from family is, though.

Also, start a savings account at another bank and put 5% to 10% of each paycheck in thei as a hedge against future emergencies.

	06-04-2005 07:17									#10
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quote: so there's really no way out of it other than cancelling the checks?

Have you talked with your bank? What's your issue with not talking with your bank? They have money. You need money. You have had a relationship with them, after all.

	06-04-2005 07:22									#11
	Got spare money?

quote: Originally posted by chegitz guevara You can't cancel a check that's already been paid. You can write the people a short note explaining that they had forgotten their end of the bargin, but you really have no other options.

Better would be to call them (or talk to them face to face) and explain your situation calmly. It's easy to blow off a note, and much harder to turn down someone's request when it's made in person and they're being nice.

quote: . . . The bank would only reimburse you if the money was taken from your account wrongly, and you did sign the checks. As for food, you can go to a food pantry. They'll help you out with about a week and a half's food. I don't see what the big deal is about borrowing money from family is, though.

What good is having a family if you can soak them for a few bucks from time to time? They're also shocked, shocked when you pay them back.

quote: Also, start a savings account at another bank and put 5% to 10% of each paycheck in this as a hedge against future emergencies.

This is the best advice I've seen on 'Ploy for many months.

	06-04-2005 07:44									#12
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quote: Have you talked with your bank? What's your issue with not talking with your bank? They have money. You need money. You have had a relationship with them, after all.

Haven't talked with them yet, because I just found out about a few hours ago at work, to boot. =p

I plan on calling them as soon as I leave work, and I'll probably see them tomorrow at a branch.

quote: I don't see what the big deal is about borrowing money from family is, though.

I don't know if Mom can spare that much right now. Simply put.

quote: Also, start a savings account at another bank and put 5% to 10% of each paycheck in this as a hedge against future emergencies.

I'll do that now. ^^; I'd been meaning to start saving for my retirement anyway, so I'd set up an IRA, which has an astonishing sum of... $0. Same with savings.

Pfeh, and I thought I was being responsible, too. Urgh.

	06-04-2005 08:03									#13
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kill them, and assume their identites.

	06-04-2005 08:12									#14
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quote: kill them, and assume their identites.

So you're the one!

	06-04-2005 08:27									#15
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is it so hard to include the tags when i'm quoted?

	06-04-2005 08:45									#16
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shutup!

	06-04-2005 12:14									#17
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Take a $100 loan, either from your relatives or bank for food. Remember to pay it back ASAP.

	06-04-2005 12:27									#18
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Yes, just take a $1000 loan from your bank. Should be no problem since you have an income.

	06-04-2005 12:48									#19
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cancel the bank account and open a new one. its the MRT way

	06-04-2005 16:07									#20
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Well, seeing as you had an agreement with the people you were subletting from, they are in error. Call them up and explain to them that they haven´t held up their part of the deal. If they refuse, I guess you have to borrow money from somewhere...

	06-04-2005 19:17									#21
	Lose 30 kilos (of popups)

I'll lend you the money you need. But if you dont pay it back in two weeks, I'll break yer legs..

Seriously tho, in times like these, this is what family is for. Swallow your pride. I hope you are able to go to a member of your family and get help whenever you need it..

	06-04-2005 19:32									#22
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Use the $10 you have left to buy a lottery ticket, play poker or try a slot machine.

Gambling

	06-04-2005 19:34									#23
	Put an end to popups!

Emigrate, take up tantric yoga, buy a pet, pen a long lament for your mis-spent youth.


If all else fails, comb your hair neatly, iron your clothes and abase yourself at the feet of 'she who must be obeyed and who can be relied upon to hand out money in emergencies.'

	06-04-2005 20:02									#24
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sell your blood plasma for money
sell your sperm for money
sell your kidney for money
etc.

	06-04-2005 20:04									#25
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quote: Originally posted by molly bloom If all else fails, comb your hair neatly, iron your clothes and abase yourself at the feet of 'she who must be obeyed and who can be relied upon to hand out money in emergencies.'

The lady at the DHSS?

	06-04-2005 20:20									#26
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Couple things. You don't need to borrow $1000 bucks from mom. You only need food money. If she could give you $150 cash, you're set.

You could also ask the bank for a loan to cover your account. When you pay it off early, it will more than cancel out the nsfs.

	06-04-2005 20:21									#27
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Bite the bullet and ask your parents.

	06-04-2005 21:49									#28
	Lose 30 kilos (of popups)

Next time, don't give people checks and expect them not to cash them (instead just tell them you will pay them later). They did nothing wrong by the way in cashing the checks. You owe them the money, so they tried to get it. Don't even "go there" in terms of telling them that they screwed you by cashing the checks. (yes, they did, but you screwed them worse by not paying them...so don't confound the issue...remember Che and Kamrat are socialists and Che is perennially broke.)

Just get yourself over this hump.
1. Figure out when you can have enough money to settle all these debts (before talking to anyone).
2. Work out a plan with your creditors to pay them off.
3. Cancel the checks (in all likelihood). And next time, don't write checks that you don't have money to cover...better not to write the check...than to bounce them.)
4. Talk to your bank about the situation and try to ensure that you minimize fees charged and the like. You may have to eat some of those though.
5. Minimize expenses over the next few weeks to bare minimum.
6. Try to bring in some extra cash with a second job (coffee shop or whatever).
7. Hang in there and overcome!

	06-04-2005 22:25									#29
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Why wouldn't you post-date the cheques so that the cheques can only be cashed on the date shown. Then they wouldn't had no choice but stick to your schedule.

Thats what I do with my landlord, saves me running over there with a cheque every month.

	06-04-2005 22:29									#30
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I think that you need a credit line. All my bank accounts are linked to my line of credit such that if I ever go below zero, an amount is taken from the credit line and I never go NSF. Its never happened yet ( I carry a minimum balance to avoid bank fees) but this line of credit is my "emergency money" and the interest rate is reasonable.

If you have a bank account and a job you should be able to convince a bank to give you a 1000 line of credit ( assuming you have been a good credit risk in the past). Then work your ass off to pay it off.

Credit cards?? They are fine at any age if you can use them responsibly. I got one at about age 20 and think I may have paid interest twice in the last 17 years. If you can be sensible, I recommend getting one. heck the 21 day grace period on most cards can be enough for you to buy some necessary stuff and pay no interest.


As for the people that cashed the cheques . . . do they have any more uncashed cheques? If they don't , there is little they can do unless you expect them to give you back the money. In the future if you want to time payments, then pay them over time or use post-dated cheques.

Oh and if you are really in a bind, consider doing a bit of extra work to get out of this hole. I usually found there was a way to an extra $50 if I looked hard enough. Plus you have $10 . . . That buys a lot of potatoes and pasta ( and you must have SOME food around) so you will eat