what next?

Question

i just got the last warning to pay my bank of an overdraft balance on my card.
theyre telling me that if i dont pay immediately theyre gonna list me on a credit report company or something...
what happens next?
on those credit report companies?
what do they do?
what will happen to my credit?

i dont have a job and my husband wont get paid for another week.
what can i do?
is this bad?

Answer 1

First thing is if it is an over draft and it was paid by the bank then NO they will not report to ChexSystems because ChexSystems is for" hot checks" or checks submitted by merchants and then rejected by your bank . An over draft is typically viewed as a small line of credit, that you pay dearly for. The normal route is the bank will close the account report as a debt owed to the credit report and sell it to a collection agency . it most likely will be treat the way any un paid credit card gets treated. Why do I know this..... I see this at least 10 times a week.
Kourtnie
www.debthardship.com

Answer 2

If you possibly can try to settle it with the bank. If you go in with a good sob story they will probably reduce the amount you owe just to get it settled. Once it goes to a default thing it can get messy and take a long time to settle.(years)

It will go against your credit for future problems

They can add collections funds to th amount and it will be higher

They can make it hard to get another checking account at any bank in your area

So if you don't settle this IMMEDIATELY, then go immediately and open another checking account before this gets on your credit.