Bank prob please please help !!!!

Question

sooooo last month I opened a checking account by myself without a parent >>>> I'm only 16 years old <<<<<<< ...... I got these checks in the mail and started to use them !!!!! I though that I could just spend any amount as long if I pay it back when I put money in my checking account ..... well I didnt know that all the checks would bounce leaving me with tonsssss sof letters from these places called telecheck and scan ..... wat to do !!!!!!!! I'm sooooooooooooo scared that I might have ruined my credit ------- this sucks I was to irresponsible to have a checking account ...... I mean I know that its my fault and I don't wanna blame any one BUT THE BANK SHOULDN'T HAVE gave me a checking account without a parent knowing the age that I am. The account is now closed and they said that they reported all of my info to this place called chexsystems. WELL I HATE TO say it but the only info that they have on me is my dob, ssn #, and address and thats all ....... ( they don't have my id # from my permit cause I never gave it to them nor did I ever write it on any of my check's sooooo no one has my permit ID # .... well I just opened a savings account at this bank ( they required that I have my ssn # and birth certificate and mail and ID and a permit with my ID # on it ...... they caleld chexsystems and they approved me !!!!!! :) I was soooo worried that I would never be able to open a account again ..... I guess it was because my old bank didn't have my ID # and the new bank does so when the new bank called chexsystems they didn't have it on file and approve me !!!!!!!! I was soooo happy .... I will never do any thing in the world to ruin my new account ------ I made a BIG MISTAKE with my old account from the other bank ----------- MY QUESTION ISSSSSS will any of the checks be put on my credit considering my age ......... AND isen't against the law to open a minor a CHECKING ACCOUNT with out a parent ?????? I have had my savings account that I just opened for a while now and I will never ever EVER get a checking account cause I know that I'm not responsible enough to handle one yet !!!!!!!!!!!

Answer 1

It shouldn&#039;t be reported to your credit report as long as you make payments to all that you owe money to.  Make sure to make a payment the same time every month.  If you fail to do this you could end up in court, and then jail.  Writing bad checks is called theft by check in the court of law.  Maybe talk to your parents and get their advice.

Answer 2

Since you&#039;re a minor (under 18). They can not do anything to you. Either explain to your parents what happened or they may have to retain an attorney to explain the situation. Hoped you learned from this experience.

Answer 3

why did you open an checking account in the first place?

how old did you tell the bank you were? 16  17? 18?

yes now you are in chexsystem

meaning you wll NOt be able to get another checkig account for

7(seven years)

Answer 4

Depending on your state laws a bank can extend accounts to anyone they are foolish enough to offer accounts to.  The issue is that they have very little recourse against you for the NSF checks - that is why they generally want a legally responsible adult to sign on the account with you.  In that way if you crash and burn they can pursue the assets of the adult.  Since you are a minor and probably under the age of legal responsibility their main recourse is to report you to various Check collection agencies.  It is possible that they could pursue a civil lawsuit against your parents but it generally is more expensive for the bank than the total of what they might collect and there are court costs. legal fees, and bad press.

Your best solution: contact the people you gave the checks to and offer a payment plan to redeem the checks to avoid a charge of being a juvenile delinquent in need of state supervision.  You do not want to be part of a State teaching plan on how to be responsible since they are usually conducted at State facilities.  Talk to the merchants and talk to the local Justice of The Peace for guidance on solving this issue in a responsible and practical manner before it gets out of control.  

Answer 5

The bank is going to have to take a loss on your fees and overdrafts and NSFs. You are not supposed to have access to a chequing account under the age of 18 so they were not diligent in checking for proper identification.

Even you&#039;re young, part of me thinks you knew this but wanted to see what you could do with the cheques. So anyway, cheques are simply a promise to pay, literally a promissory note which authorizes your bank to pay the person you gave the cheque to X amount of money on your behalf.

Cheques are NOT credit cards, the cash must be available in your account at the time you give the person the cheque because it can be cleared at anytime. Next time you&#039;re unsure just ask !