A number of US Bank overdraft fees lawsuits have been filed over the past few years. Some of the cases have resulted in substantial awards to their victims, while others have only been resolved for a token amount. The US government has become increasingly alarmed over banks taking advantage of customers who do not properly understand how overdraft fees work. As a result, more complaints are being filed with the Federal Trade Commission. If you have been a victim of US Bank overdraft fees, you may wish to hire an attorney to represent you and receive a significant monetary award.
If you have fallen behind in your monthly payments for any reason, you will most likely be hit with an overdraft fee’s lawsuit.
An overdraft is when your bank charges a fee for exceeding your account limit. While the majority of people who use overdraft fees are aware that they may face such a fee, many of them are not aware of how much in penalties they will incur. An additional fee that is often overlooked is per-click advertising costs, which can tack onto your current overdraft fees. This additional cost can quickly add up and create a lot of financial strain.
When searching for an attorney, it is important to check to see if he or she has experience dealing with US Bank overdraft issues. Most attorneys handle these types of cases on a contingency basis, which means they only receive a percentage of the award if they win the case. Since the bank may not admit liability, it is important to retain the services of an experienced attorney. You may also want to discuss with your current bank if they will allow an attorney to negotiate on your behalf. While a bank cannot admit liability, they may be able to settle the case with your attorney by reducing the amount of money you owe.
There are other situations where you may be able to avoid paying the bank overdraft fees.
If you are having a hard time paying your rent or utilities, you may qualify for a hardship letter. This letter should explain to the bank why you are behind in your rent/utility bills. For most banks, this will be cause enough to cause an overage charge. In some cases, if you have not been able to pay your past due balances within thirty days, the bank may apply the late fee.
US Bank overdraft charges can have a negative impact on your credit score, even if you don’t realize it at first. You can pay off these fees, but you may have to start paying extra fees from now on. Over time, this will add up and eventually result in a bad credit rating. If this happens, you will find it very difficult to obtain a loan or another type of credit. Some homeowners may be forced to purchase their own home when the damage has been done by the US Bank overdraft fees.
If you have any questions about your overdraft fees, including how much they cost, you should contact the nearest branch or customer service center. There is usually a procedure you must go through to be turned down for more credit, and this can be rather confusing. There are even times when people have to pay for an unexpected service that was rendered to them because the bank overdrew their account. These types of things are frustrating for any US Bank overdraft fees lawsuit sufferer.