My bank account has been overdrafted & I still have other checks out that need to clear,what can I do?

Question

This has been a big setback can the bank hold those checks or do somthing to help so the fees do not keep adding up,so I can get caught up? Thank You for any suggestions.

Answer 1

The bank most likely won't hold your checks. You need to deposit enough money in your account to cover the overages plus the checks that are still out. You may be able to talk to the branch manager and see if you can get some of the fees waived. They usually will once, if you don't have a history of overdrafts. Stay away from payday loans and cash advances, this will just get you in more financial trouble. Balance your check book every day, and once this clears up, sign up for your bank's on line banking. This helps out a lot, you can easily see what's cleared. Usually there is a small one time set up fee. If you're having trouble balancing, talk to a teller, they should be able to explain it to you.

Answer 2

Tough situation. The bank is going to charge you if the checks come in regardless of if they pay or don't pay the check.

You could try putting a stop payment on all outstanding checks. This is not the best solution as stop payments cost money and this will make the people you wrote checks to MAD.

Is it possible to deposit the needed money to cover the overdraft and the outstanding checks?

I would suggest for the future that you keep a more detailed accounting of what goes in and out of your account to avoid this. You should also talk to the bank about overdraft protection (usually a credit card or line of credit account).

Answer 3

Unfortunately that is how banks make their money, along with interest that they charge on other loans. Best bet is to put money into the account and quit writing checks before you have the money in the account for them to clear. The bank will most likely not reverse the charges or stop the charges from occuring even though you know there will be other checks coming through. After you get caught up with a positive balance, try to apply for overdraft protection, but make sure to USE IT WISELY!!! It acts like a credit card in the sense that they charge you a minimal amount to cover the transactions that come through on your account when the money is not there until you can pay it back. BE CAREFUL with this, it is not something you should rely on continuously. Also you should try to open a savings account with that same bank and if you ever do have a situation like this again you can have what's called a "sweep" put on your checking account that works with your savings account. Basically they charge you a minimal charge to "sweep" funds from your savings account to your checking account when a transaction comes through and there aren't enough funds in the checking account to cover the amount. It beats paying the overdraft fee, but be careful with this as well, because a savings account is just that... for SAVING! Good luck and remember to live within your means and don't "expect" that those checks will stay on the back burner until payday! Don't write checks until you have the money in the account to pay for it.

Answer 4

unlikely they will do anything but charge you for each return. there will be a maximum fee per day that they will charge you. you can try calling the bank and asking them to remove some of the fees so you can catch up but if this is not the first time you have overdrafted then that is also unlikely. your best bet is to call each company you wrote the check to and ask them not to cash them and you will send a money order.
or you can go to a 'check into cash" place and get a payday loan

Answer 5

Your (if any) credit cards will NOT have their interest increased. That is only for other credit lines, not your checking account.

Open a line of credit with the bank and have them link it to you checking account so in the future, overdrafts won't happen. Of course, your outstanding checks will probably be cashed before this can be completed.

Stay away from payday advances. They are predatory. Borrow some quick cash from family/friends, but pay them back asap.

Answer 6

No. Once you write a check and give it to a vendor for payment, you are saying that they can take the check, at any time, to the bank and cash it in. You can't freeze a check that you wrote simply because you don't have the funds. Your bank will charge you a fee and the person you wrote the bad check to can also charge you a fee.

Answer 7

they'll verify all money owed on your call, they may also pass again and verify what funds were made from that account. So if someone has basically cleared out their account and placed it in a pals or kinfolk account they can verify that still. pass over Millitant - so that you're satisfied paying advantages to those who might want to nicely be claiming fraudulently? EDIT - Your inheritance should be considered even as claiming advantages. you're probably no longer going to love this answer yet when i necessary to declare i does no longer manage to because I easily have lower price charges over £6,000 (no longer a lot over yet I do). that's funds that I easily have worked for and kept over the perfect two decades. Your inheritance is a present from a loved one, inspite of the indisputable fact that that's no extra or a lot less significant than my lower price charges. i'm afriad you should suck it up, signal off and use your inheritance until eventually it has lengthy gone. you're saying you're a one figure relatives, to proceed down this route of attempting to aviod putting ahead your inheritance you want to workout recurring who will safeguard your toddlers when you're stuck and get the optimum punishment which may be reformatory. besides the very incontrovertible truth that it would want to be unlikely that you may want to get a penal complicated sentence defrauding the taxpayer can carry that sentence on the very acceptable getting stuck might want to lead on to a criminal list that would want to effect destiny employment, housing and way of existence selection. in ordinary words you could opt for if the prospect is fairly truly worth the conceivable consequences - yet you sound sensible adequate to do not overlook that it is not.

Answer 8

The bank will not hold them, they will either send them back or cash them, either way they will charge you a fee for every single one, the only thing you can do is deposit money asap to cover everything. good luck, been there done that!!

Answer 9

put enough money in the bank to cover the checks that are still out, or you can just pray that the places don't cash them. the bank can't hold them.

good luck. i feel for ya. i've had it happen to me before too.

Answer 10

You have to put some money in the account or the fees will keep adding up.