Help needed- Im worried sick, cant sleep.

[jeffcoo]

Hi sorry to sound like im pleading, however, i have a dilema and am so so worried, i havnt slept a good night in 2 days.

.....

I have a bank account with a cheque book, and was waiting for some student money to be paid in, also some other money too.

 

I ended up writing three cheques to myself, and cashing them in my other account, ( with the same bank ) the bank cleared the cheques and i have spent the money ( well of course not all of it ) and still waiting for my money to be paid in.

basically im 3k overdrawn.

i called there centre and the lady was hard and cold, but she has agreed to turn the money into an overdraft for 2 months.

im really at a loose end here as im not sure what i have actually done.

and why does the bank allow the funds to clear, when i had no funds in the account?

 

and this seems a ridiculous loop hole for the banks...

 

anyway guys, im basically so bloody nervos as although the lady at the call centre said she is turning the money into an overdraft, im worried i will get in further trouble.

im on valium and all sorrts of things now....

 

im sure i had better stop wrting,

anyway,

if anyone has any experience id be grateful

 

thanks

[havinastella]

the only advise I can give you is behave.

 

You can't go to jail, you owe someone a few pounds. Its that simple.

 

Stop stressing.

 

Jogs

[300]

don't PANIC!!!!!;¬) The banks make their money by allowing you to go into debt and then charging huge fees and interest. That is basically what the whole bank charges reclaiming 'thing' is about. They set traps for consumers to get into debt, so don't worry if you have the money coming from another source they will be happy to advance you the money while taking an unfairly large fee for the service.

[jeffcoo]

thanks but i thought i read somewhere that if i write myself a cheque its agaisnt the law and possabel fraud if i dont have the money there..

sorry this may sound silly, but ..well you know the nerves are doing me

[300]

The last thing the banks want to do is charge you with fraud as they had to advance you the money. No fraud involved it was their decision to give you the money, you were not writing a cheque naming anyone else or paying for service. go to sleep like a good boy.

[jeffcoo]

thanks all and you too 300, i cannot make out that a bank can let someone write a cheque for a few grand, to THEMSELVES , pay it in , they clear it and the skint customer can then have access to those funds... mad banking system.. silly question but its this normal practice? and how does tha t happen...

 

thanks again,

[jeffcoo]

ps. im concerned that im writing too much, if anyone has any links to other posts please let me know i have been searching etc....

 

regards

[havinastella]

Jeff,

 

I used to write cheques to myself in the hundreds,

 

I never had a bean, YOU WILL not be hounded for fraud etc, just relax, have a good nights sleep, as nothing is gonna happen overnight anyways.

 

Just chill

 

Jogs

[cerberusalert]

It's extremely difficult to defraud yourself; in the broadest sense, a fraud is an intentional deception to gain from or to damage another individual.

 

You haven't defrauded the bank because they had the option to either honour the cheque or not, in effect they've allowed you an unauthorised overdraft to which they will add their charges.

 

You haven't defrauded the payee (yourself) because the cheque cleared.

 

So at the end of the day all you have done is circumvent the normal process of asking for an extended overdraft.

[deathbycrayons]

I used to do this, before I got myself into a lot of debt. I think the best thing for you to do would be to open a parachute bank account, just incase your current bank account incurs any charges as a result of the cheques and the overdraft. Get any spare money you can into the parachute account, as it's more important that you have money to eat and pay bills etc. Arrange for any future payments to be paid into your new account.

 

This will just cover you financially if there are any charges - I wish I'd done this when I got into difficulty. Charges ate up all my wages and I had nothing to live on. Open a basic bank account with another bank asap.

 

Also don't worry about fraud or anything like that, you can't really get into trouble for writing cheques to yourself in the manner that you have been.

[cerberusalert]

im on valium and all sorrts of things now....

 

Get yourself off that crap ASAP (under medical advice), it may help short term but believe me it'll do you no favours in the long term.

[deathbycrayons]

Valium - little gems of wonder when you really need them. I wouldn't have got through some days without it. Like cerbs says though, in the long run not good.

 

BUT this forum is not for discussing your medication or to offer medical advice.

 

The point is - you shouldn't be worrying about this. It's seriously not worth it. I do know exactly how you feel, but you honestly have nothing to worry about.

[jeffcoo]

my dear friends i can only say thanks from the bottom of my heart for your wisdom,support and non-judgemental way in dealing with me. I was so nervous and worried sick the other day. and you guys have literally been there for me, like a beacon of shinning light, when i saw darkness!

 

( im off the valium thanks!) it was only short term.

 

i have opened another account like suggested and until i can pay the money back, will use that one....

 

i didnt just ask questions here, i have been reading up on the forum and learning,// i want to again, say a massive thanks...to those who so kindly gave me there time!!

 

hugz to you!!

[jeffcoo]

an update

My Bank have been adding charged and deleting them , making a total mess of the account. then this morning i noticed they have cleared £1k in my main main bank account. I was under the impression they were turning my writing of cheques and subsequent overdrawn account into a loan / overdraft for 2 months, it seems by accident they have made 1k available.

its just TOO bloody tempting to not touch it, or take it out....

any suggestions ?

 

thanks guys

[deathbycrayons]

I know I would have just spent it back before my CAG days - I'm wiser now - but they've set that limit to cover charges DUE to go onto the account.

 

If you touch any of it you will spiral into more debt. Leave it, don't touch it, and remember get any income paid into your new bank account and don't write anymore cheques. Throw away your debit card and chequebook for your 'main main' account.

[jeffcoo]

hi, i sent you a PM, hope you dont mind...

 

thanks