I had made a mistake in my acct. and owed $300.00.Well i never was able to pay it..being that i live paycheck to paycheck.Well i was told i could not get another account for 5 years or until i paid them.I recently found a bank that would open me a account.....i am worried though that the other bank can find out and freeze my account.Can they do that?? I would appreciate any advice.
2007-02-09 12:03:26 · 4 answers · asked by sugar_n_spice 5 in Business & Finance ➔ Personal Finance
I work in the banking industry and NO the other bank can not freeze any account you might have with another bank but the new one you are looking into will call chek systems and your bank will have reported you to them. This will be on there until you clear it up. Try just taking 5.00 or 10.00 a month to pay against it, sometimes when they see you are trying to make an effort they will maybe try for a settlement with you, half the amount. It is worth a try. I to live pay check to pay check and yes, it is very hard but you just can't give up. Good luck.
2007-02-09 12:11:47 · answer #1 · answered by bluebonnet240 1 · 1⤊ 0⤋
Your current bank cannot freeze your account. However if you ever close that account and go to yet another institution (bank), you could run into some troubles opening a new account. As the prior answer states... your best bet is to slowly pay off the $300 you owe over a course of several months. ... Or I know tax season is here, if you receive a tax refund this year, you can use it to pay back all or some of the $300.00.
2007-02-09 21:45:16 · answer #2 · answered by Jon B 2 · 0⤊ 0⤋
this is a good question and I am not sure of the answer, but why not pay off your debt slowly so that they wont want to do so. I think that if they were going to do that, they would have just let you open another account and freeze it then instead of baring you from having one.
To be safe, just deposit $50.00 in it to open it, then use it instead of the check cashing places to save you all of the check cashing fees.
Over the course of a year, without having to pay the check cashing fees, you should have the extra to pay them back.
2007-02-09 20:10:46 · answer #3 · answered by lisa s 6 · 0⤊ 0⤋
yes, they can do that. suggest you keep money with you
2007-02-09 20:11:29 · answer #4 · answered by gangico 3 · 0⤊ 0⤋