So, I need advice. Quickly.

[Q Classic]

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?

[Maniac]

Originally posted by Comrade Tassadar
No. Cancel the checks.

[DanS]

Call your bank and see what they can do for you.

[Fake Boris]

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?

[Q Classic]

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.

[C0ckney]

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.

[Q Classic]

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?

[C0ckney]

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.

[chequita 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. 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.

[DanS]

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.

[Zkribbler]

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.

. . . 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.

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.

[Q Classic]

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.

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.

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.

[self biased]

kill them, and assume their identites.

[Japher]

kill them, and assume their identites.

So you're the one!

[self biased]

is it so hard to include the tags when i'm quoted?