I need help with my step-daughters checking account?

Question

my 34 yo step daughter is getting a divorce and moved into our house pending her final decree.
she has had lousy credit, 2 bankruptcies, and her previous job required her to have a checking acount to deposit her paycheck; her soon to be ex had an account that she previously used but did not have her name on the account. my husband was able to have his bank open an account for her, but as of today after 2 months she has managed to bounce at least a dozen purchases from what appears to be from her debit card; the fees are now at 36.50 apiece; most of the purchases were from $10 to $25, so the fee makes it even more stupid.
1;at what point would the bank shut down her account?
2; other than taking off the over-draft on her account, what can we do?
3; i have read that credit "help" agencies are no good or charge exorbitant fees; if not, please suggest any that you might recommend.
4; or, possible either her father, mother or myself be put on her account so we can oversee?
help
3;

Answer 1

I agree with the other posters here. Sad to say, your step-daughter is an irresponsible and immature lout (and I say that as kindly as I can). However, if you DO insist on maintaining a checking account for her, do NOT authorize any sort of debit card for the account, and keep the checkbook in YOUR possession at all times.

Additionally, open the account in "father's name" AND 'daughter's name. If opened thusly, any checks drawn on the account MUST bear BOTH signatures to be valid.

If you open the account in 'father's name' OR 'daughter's name', then either can withdraw without the signature of the other.

If opened correctly, daughter will not be able to obtain a debit card without the agreement of the father.

Answer 2

1. It is up to the bank as to when they close out the account. The quicker she can get it back to Positive the less of a chance you will have of them closing the account. As a side note if they do close the account because of this, they will put her into a system called "ChexSystems". Once she is in there it will be next to impossible for her to open another account for the next 5 years.

2 & 3. If she did OD the account then they will not reverse the charges. Since it is in the terms of the account you really have no recourse to get them reversed.

4. The short answer is No. You can open a Joint Account, but she could still do whatever she wanted with the money. If she continues to OD the account you would then also be responsible for it.

Answer 3

First of all - do NOT have your name put on her account. That would make you liable for the charges and would reflect on your credit. Sadly, I think it is time for her to suffer the consequences. She is 34 years old and has obviously had her father ( and you) to bail her out of her financial messes. If she is ever going to become financially responsible, she needs to stand on her own two feet. If she continues to bounce checks and use her debit card unwisely, there will eventually be legal consequences. That might be what has to happen to wake her up to the fact that she is 34 years old needs to start taking care of herself. While trying to help, you have become enablers.

Answer 4

Your husband needs to keep out of her private business. She is an adult and needs to start acting like one. The bank won't close her account as long as she pays back the overdraft and fees until she becomes more trouble than she is worth.

Answer 5

Shes 34, its time for her to take care of herself. Offer to help her understand how to balance her checkbook if she wants but thats where it ends. It seems she doesnt care so why waste your time. I would by no means add yourself to her account. then she will ruin yours too.

Answer 6

This isn't intended to be mean, but you need to let your step-daughter be out on her own so she can learn responsibility and take care of her own problems.