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Will i go to jail if i overdraft my bank account like for 600$? |
Will i go to jail if i overdraft my bank account like for 600$? No. They will send you notices for 30 days. You will have 45 days to pay it before the account is closed and then it is sent to collections. Once it is closed it will go on "check systems". It's like a credit reporting agency except for banks. When you go to open a bank account they check this. if you are listed you won't be able to open another account at a bank until it is paid. Unless... If it hasn't been long (before 30 days) you won't be listed yet, so go to another bank and open a new account now before it gets in the system. It isn't showing yet and once it's opened the new bank will not know about the other. Otherwise you will be "sol"! Everyone needs a bank account to cash checks, store money. So do what you have to do. I am sure it wasn't intentional and that you must have had a bad circumstance that leads this to happen. It happened to me too once when I was laid off work. Just remember it's important to make some kind of payment arrangement even if it's 20.00 a month to keep them from reporting it to the credit bureaus and don't screw up the new account because by then you will be listed and won't be able to open one anywhere for a long time! Hope your situation gets better, good luck! no but you will be in debt if you don't pay it back. they turn it over to a collection agency and charge in interest making you pay it off a.s.a.p. No, but your bank will send your account to collections after it closes if you do not pay it back. Which will look bad on your credit, especially being from a bank It would all depend on your bank. The good banks give you overdraft protection meaning they will process the check you wrote or allow you to overdraw your account, but they also require that you pay them back immediately and if you don't they can press charges and if you have a career of bouncing checks then yes, you could go to jail. No. Your bank makes money when you make that OD right. It costs them money to send you to jail. You will not go to jail, but your credit score will suffer and you will end up in ChexSystems. Try opening a checking account at another bank. Not all use ChexSystems to verify your account. http://www.secondchancecheckingaccount.e... |
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