I have an account with B of A and they suck. I already have a new account with Washington Mutual, what happens if i never [ay the negative balance left on my account. I already have had the overdraft fees cleared.
2006-12-23 11:54:56 · 12 answers · asked by Mr Han 2 in Business & Finance ➔ Personal Finance
depends on their policy... they may send it to a collection agency or they can prevent you from getting a checking account at another bank... so protect the one you have :o♦
2006-12-23 11:57:24 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The bank will send you a letter asking for the balance, then another demanding the balance, eventually they will write off the amount you are overdrawn and close the account. At that point they'll turn your account over to a collection agency, and report it as a bad debt to the credit bureaus.
2006-12-23 11:58:26 · answer #2 · answered by SantaBud 6 · 1⤊ 0⤋
You still owe it. Be a descent human being and pay up. Bank can turn it over to collections and put a bad reference at credit bureau. Also there may come a day when you need another bank and it will show up that you owe B of A, they will not let you open a account until that is cleared up.
2006-12-23 12:00:45 · answer #3 · answered by m c 5 · 0⤊ 0⤋
If the account was in the negative you only have a certain number of days to bring it current. Read the contract you signed when you opened the account. Unless your mother paid the balance then it still exists. If she signed when you opened the account and they can't come after you then they will come after her to recover the balance. Given that you stated you recently opened a new account, it is likely already paid.
2016-05-23 02:47:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They will bill you for the balance, add fees, and eventually turn you over to a collection agency/ They will add fees, and perhaps attorneys fees. A common ploy by banks is to fail. sometimes 2 and three times in a row to cancel your account, and try to tack on these fees. Settle up with them in person, and get a reciept
2006-12-23 11:59:46 · answer #5 · answered by walter_b_marvin 5 · 1⤊ 0⤋
anegative balance is an overdraft. Until this is cleared it will probably continue to draw fees. Not to mention,it is also dishonest to ignore a personal debt.
2006-12-23 12:06:36 · answer #6 · answered by Bonnie K 2 · 0⤊ 0⤋
It will show up on your credit report as an unpaid debt. Potentially, it will damage your credit for up to 7 years.
2006-12-23 11:56:58 · answer #7 · answered by Monica K 1 · 0⤊ 0⤋
At the very least, it will affect your credit rating. At worst, you could be prosecuted for bank fraud. Don't be a thief pay what you owe.
2006-12-23 11:57:24 · answer #8 · answered by Anonymous · 2⤊ 0⤋
They will report you to the credit bureaus and could get you for check fraud or sue you in court.
2006-12-23 12:06:27 · answer #9 · answered by Mariposa 7 · 0⤊ 0⤋
IT WILL GO INTO COLLECTION, ON YOUR CREDIT RATING AND ALL THAT GOES WITH IT.
2006-12-23 12:13:36 · answer #10 · answered by Anonymous · 0⤊ 0⤋