I'm sick and tired hearing about people whose bank checking account gets into negative funds, who have made arrangements with a creditor to have money withdrawn from their checking account via recurring payments.
It seems that creditors leave their computers on autorun to try to collect a second time days later, and a third, fourth and even a fifth time, leaving a debtor with more negative amounts in their checking account.
There should be a law that prohibits a creditor from trying to collect a recurring payment via computer, if it fails to collect the first time. The law should state also that a debtor should be given written notice about the recurring payment failure to collect because of non-sufficient funds in the bank checking account belonging to the debtor.
The debtor should be given time to replenish the checking account ASAP, before the computer tries to collect the second time. The creditor should schedule a period of 15 days before the second attempt.
