Quite a few of my bankruptcy clients have had trouble with banks in the past, and have bounced checks and/or had bank or checking accounts closed on them because of overdrafted bank accounts.
Filing a bankruptcy can help people get a fresh start, because any delinquent balances or fees owed to banks on closed or overdrafted accounts can typically be discharged or canceled in bankruptcy.
Anyway, there are companies that compile information about consumers and their banking history and habits. One such company is Telecheck, located in Houston, Texas.
Telecheck gathers and compiles information about consumers and uses it to help companies and stores decide whether or not to accept consumers' checks, among other things. Under the federal Fair Credit Reporting Act (FCRA), consumers whose checks are denied based on information that TeleCheck provides have the right to dispute that information and have TeleCheck investigate and correct any incorrect information.
The FTC settled a case against Telecheck recently. The FTC complaint had alleged that since Telecheck had failed to follow reasonable procedures to maintain maximum possible accuracy of the information about consumers that it provided to it's clients, and also failed to promptly correct errors on consumers' reports, all in violation of the FCRA.
Telecheck is required by the order settling the case to alter their business practices, comply with the requirements of the FCRA in the future, and pay a $3,500,000 penalty.
If you have problems with overdrafted bank accounts that you cannot handle or other serious debt troubles, and you live in the Houston, Texas area or surrounding counties, call our office at 713-772-8037 anytime to make an appointment, or to request one of our publications.
Our firm has sent Telecheck dispute letters in the past for clients, and they have been responsive and taken care of business. Of course that could be because we sent them a "lawyer letter." Have you ever had an experience with Telecheck? Was it good or bad? What happened? We appreciate your comments.