Complaint Review: Orchard Bank - Internet
- Orchard Bank orchardbank.com Internet U.S.A.
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- Category: Banks
Orchard Bank Charded overlimit fees, after making a payment that they told be would bring account current. Ripoff Internet
*Consumer Comment: Wrong Information
*Consumer Comment: Wrong Information
*Consumer Comment: Wrong Information
*Consumer Comment: Wrong Information
*Consumer Suggestion: Making a payment makes it current: For a new 7 years on your credit report
Orchard bank told me if a post dated a check, for 153.00 my account would be cuurent as well as a match pay. After the apoyment was made, I was still short 11.00. then then added overlimt fee's, which has my account 99.00 over the limit, and informed me that the match pay would take up two statements to credit. Orchard bank was willing to work with me for a post dated check, but will not waive any fees, and stated SORRY for the misunderdtanding.
Jackie
fraser, Michigan
U.S.A.
This report was posted on Ripoff Report on 07/14/2007 12:55 PM and is a permanent record located here: https://www.ripoffreport.com/reports/orchard-bank/internet/orchard-bank-charded-overlimit-fees-after-making-a-payment-that-they-told-be-would-bring-260866. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#5 Consumer Comment
Wrong Information
AUTHOR: John - (U.S.A.)
SUBMITTED: Saturday, July 14, 2007
The information posted about the seven year clock restarting is not correct. Negative information can only stay on your credit report for seven years (7.5 years max). The clock starts ticking on the day that you first became delinquent and never became current again. Prior to 1997, making a payment several years after the delinquency could restart the clock....Not anymore...there is serious misunderstanding/misinformation about this issue. If you've had a negative notation on your credit report since the year 2002 for example (five years)....making a payment right now would not re-start the clock again...meaning that you'd have had this same black mark on your credit for 5+7= 12 years total.....This would be illegal. Collection agents like to perpetuate the myth that the clock can be restarted....Don't believe it.
Note: Making payments on an old debt WILL restart the clock on the Statue of Limitations in most state...and it will validate the debt as legitimate.

#4 Consumer Comment
Wrong Information
AUTHOR: John - (U.S.A.)
SUBMITTED: Saturday, July 14, 2007
The information posted about the seven year clock restarting is not correct. Negative information can only stay on your credit report for seven years (7.5 years max). The clock starts ticking on the day that you first became delinquent and never became current again. Prior to 1997, making a payment several years after the delinquency could restart the clock....Not anymore...there is serious misunderstanding/misinformation about this issue. If you've had a negative notation on your credit report since the year 2002 for example (five years)....making a payment right now would not re-start the clock again...meaning that you'd have had this same black mark on your credit for 5+7= 12 years total.....This would be illegal. Collection agents like to perpetuate the myth that the clock can be restarted....Don't believe it.
Note: Making payments on an old debt WILL restart the clock on the Statue of Limitations in most state...and it will validate the debt as legitimate.

#3 Consumer Comment
Wrong Information
AUTHOR: John - (U.S.A.)
SUBMITTED: Saturday, July 14, 2007
The information posted about the seven year clock restarting is not correct. Negative information can only stay on your credit report for seven years (7.5 years max). The clock starts ticking on the day that you first became delinquent and never became current again. Prior to 1997, making a payment several years after the delinquency could restart the clock....Not anymore...there is serious misunderstanding/misinformation about this issue. If you've had a negative notation on your credit report since the year 2002 for example (five years)....making a payment right now would not re-start the clock again...meaning that you'd have had this same black mark on your credit for 5+7= 12 years total.....This would be illegal. Collection agents like to perpetuate the myth that the clock can be restarted....Don't believe it.
Note: Making payments on an old debt WILL restart the clock on the Statue of Limitations in most state...and it will validate the debt as legitimate.

#2 Consumer Comment
Wrong Information
AUTHOR: John - (U.S.A.)
SUBMITTED: Saturday, July 14, 2007
The information posted about the seven year clock restarting is not correct. Negative information can only stay on your credit report for seven years (7.5 years max). The clock starts ticking on the day that you first became delinquent and never became current again. Prior to 1997, making a payment several years after the delinquency could restart the clock....Not anymore...there is serious misunderstanding/misinformation about this issue. If you've had a negative notation on your credit report since the year 2002 for example (five years)....making a payment right now would not re-start the clock again...meaning that you'd have had this same black mark on your credit for 5+7= 12 years total.....This would be illegal. Collection agents like to perpetuate the myth that the clock can be restarted....Don't believe it.
Note: Making payments on an old debt WILL restart the clock on the Statue of Limitations in most state...and it will validate the debt as legitimate.

#1 Consumer Suggestion
Making a payment makes it current: For a new 7 years on your credit report
AUTHOR: John - (U.S.A.)
SUBMITTED: Saturday, July 14, 2007
Yes, making a payment makes your old debt current, for credit reporting agencies. Of course, they don't volunteer that information.
Once they report past debt to the credit reporting agencies, any payment automatically resets the statute of limitations for collection and the 7 year credit report limitations.
This company has a bad history of not crediting customer payments in a timely manner. They once told me that my payment was on hold for up to 21 days because I had made more than one payment in the same month and charged more than my limit. Huh??? Okay, I charged more than my limit, but never exceeded my limit. Let me thing about this....its a credit card....you charge on it, you pay on it. So, I charge a lot and never exceed my limit, and I pay my bill. So, they hold your payment for 3 weeks??? BS!!!
They are another bottom feeding credit card issuer....drop them as soon as you can.


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