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  I have debt I cannot afford to pay.
  I am being harassed by creditors.
  I am a senior citizen or disabled person.

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Overdraft Fees

For Seniors Facing Bank Account Overdraft Fees

Checking account overdraft charges occasionally happen. These charges can be devastating to a senior with a limited income and a tight budget. A few months ago, a senior noticed a few hundred dollars had been taken from her bank account, leaving her with a negative balance. The money was taken out of her account for a service she had previously cancelled. Eventually the funds were returned, but not before checks began to bounce, incurring significant overdraft charges.

This senior went from having a carefully managed budget to a disastrous amount of bank fees. Overdraft changes can result from many situations. What should you do when you’re faced with overdraft charges?

Typically, bank managers, whether they will admit it or not, have the authority to remove overdraft charges. Most will need a compelling reason – like a client who’s a senior on a limited income. It also helps if this was a “first time” event.  It is usually best to speak directly with the manager. Calling on the phone can help, but making your request in person can produce better results.

Typically, bank managers, whether they will admit it or not, have the authority to remove overdraft charges. Most will need a compelling reason – like a client who’s a senior on a limited income. It also helps if this was a “first time” event.  It is usually best to speak directly with the manager. Calling on the phone can help, but making your request in person can produce better results.

Eric Olsen, Executive Director HELPS nonprofit law firm.

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Peace of Mind
These HELPS clients were dealing with harassing debt collectors and anxiety over old Debt. HELPS provided a solution to their financial worries.