What happens if you leave a checking account in the negative, and never use it again?

Question

Will they charge you for this? Even if I stop using the account completely??

Answer 1

Fees depend on the bank. Some charge a one time fee others charge a daily fee.  It is possilbe it can get real ugly real quickly.

You should always try to settle the debt no matter how big or small it is. Also do so as quickly as possible. You could be reported to chexsystems and credit bureaus. Which will make it very difficult to open accounts, and if the bank you open your new account discovers reporting soon after you do they could and probably will close your new account down.

After 30 days even if you pay the debt the reporting company doesn't have to take your name off their reporting. They will just report it as paid. This means no banks will touch you. 7 years your name stays out there. It's no joke,seriously, more and more employers are requiring direct deposit for new hires.

Just pay it if you owe it or dispute it the right way. For more info on that go to www.ftc.gov

If your already in trouble another source for help is www.getchecking.org

Answer 2

They won't stop bothering until you pay it.

Answer 3

While your account is negative the only thing you can do is put money it to take it out of a negative balance.

While it is in a negative balance some banks do charge a daily fee for this.  With the banks that do it may be as much as $8-$10 a day.  Eventually if you do not pay it they will turn you over to collections, but just as bad(if not worse) they will list you in ChexSystems.  Once you are in Chex it will be next to impossible to open a new checking account at any major bank for the next 5 years.

If you continue to not pay the amount owed, they can take you to court for the money.  Depending on your state they may garnish your wages, attach any other bank account they can find, or place a lien on any real property you may own.

Answer 4

They can take you to court for it, it will also most likely show on your credit check. If you've already overdrawn then the people you wrote a bad check to can take you to court to unless you pay it up-front, and also the bad-check fee (usually $35-$40)

Answer 5

The bank will start calling you to try to collect the money you owe.  There maybe more charges involved than you have already been charged for overdrawing the account.  Eventually, if you don't pay, they will close the account and report it to ChexSystems.  ChexSystems is a service that the vast majority of banks will check before opening an account for you.  You won't be able to get another bank account and you will probably be sued for the money you owe.

Just pay what you owe.

Answer 6

i dont know much, but the interest for the amount left over might just add up and you will end up paying much more. i would just try to pay it off as soon as i can, you dont want any trouble later!

Answer 7

You'll have hard time opening another account at any bank. They put these accounts on a list that all banks can review..

However you can open another account before they report it. about 30 -60 days

Answer 8

It'd be nearly impossible for you to open another checking account in the future since banks use ChexSystem (or something along those lines) to check a person's worthiness before opening an account with them.

Also, they could probably bring you to small claims court or report it to collections and ruin your credit score.