Checking account goof!

Question: Tori just settled with her credit card company, but gave them electronic access to her checking account. They said they would send her a letter accepting the settlement amount, but it hasn't arrived yet. They will draft the money out tonight. What will happen?

Dave Ramsey's advice: I hope it goes through, but our experience has been that they lie and will clean you out. This is a huge mistake. Whatever money you put in there, they will take out, and they will keep doing it until they get the full amount. You must get the settlement offer in writing.

Call them back right now and tell them that they can't do the deal ... that there's no money in the account. Get them to send you a letter declaring the settlement, and you will overnight a cashier's check to them. There is a 5% chance that this will happen like they promised. But more than likely, they have lied. Close the account, also.

• Hear Dave get the breath knocked out of him.