Quote:
Originally Posted by davephx  If the payment due to the bounced check is already late, wiring the double payment now makes no sense until she can contact the servicer and get advice.
Otherwise the servicer may redeposit the first check which will than bounce again because the funds were withdrawn for the wire. So double trouble.
She is now late but for a very good reason. Wiring funds now will not solve that problem that needs to be discussed with the servicer. The servicer will get back the bounced check. What is there procedure is the issue and can they be told of the problem and redeposit without a risk to the trial.
Also the original check is dated before the due date. Any new payment is like an admission it was paid late. |
Do you know how long it could take her to get to someone who will help her? Most lender Reps are less than helpful, you are going to get hung up on more than once, be bounced around from dept to dept, get voice mail and no return calls. Meanwhile she is getting later and later.
It is late, there is no way around that, but it's not her fault, it was caused by something totally beyond her control. A letter of explaination on Company letterhead could help her case. Matter of fact they could probably fax it to the lender for her too. It's the least they could do as they caused the problem.
The lender has already stated that the check would be returned. I don't know of any lender that puts checks through more than once anymore. I think that is a thing of the past. Everything is electronic now.
She needs to contact BOA, ASAP, and get a clear picture of what is going on with her payment and her checking account.
Making the payment by phone once she understands what is going on with these accounts is the quickest way to get the payment into the system at the lenders but I have a hard time trusting verbal payments. I'd rather have a receipt with a MTCN# and be able to contact Western Union to verify that the lender did recieve and accept the payment if they deny it. I have had to use these facts against National City recently.