using my account to pay friend's debt
November 29, 2007 4:07 PM Subscribe
using my checking accountt to settle a friend's delinquent bank fees, bad idea?
posted by Salvatorparadise to work & money (32 answers total) 2 users marked this as a favorite
Hi everyone, a close friend of mine, whose finances are troubled at best, has worked out a deal with her creditor to settle a bunch of bank fees (overdrafts mostly) for $600. She formerly owed $1k. This account has been sold to another company, some collections firm that buys these up and hopes to reel in as much of the dough as possible, so it is not her local bank anymore. Anyway, they say they'll take $600 on the $1000 in fees (and then she'll be all squared up), if it is paid using an active checking account. She does not have a checking account (bad credit) but has $600 cash in hand, and will give it to me right away. But to pay the balance off she would need to use my checking account. I am not at all concerned that she would use my checking account info to steal from me or anything like that, but I guess my main concern is whether or not the debt collection firm would somehow either begin pestering me about something, or somehow take more from my checking account once they have my info. I'm happy to help her, and since she's giving me the cash, it's no big deal at all, but I'm mostly wondering if there's any risks in this for me....Thanks!