A check that I wrote was cashed after I had closed the account - how will this affect my credit score?

Question

I was in the process of combining checking accounts with my fiance. A check that I had written out of my account for auto insurance apparently wasn't immediately cleared like it always has been, it took a few weeks. In that time, I had moved money into her account, put both our names on it, then closed the one that I had. After that, I got a notice that the check had bounced, and I ended up having to pay a fee because of it.

A bookkeeping error on my part, and I take responsibility for not triple-checking that all transactions had been processed. I've never missed a payment before, this would essentially be my first offense.

How will this affect my credit score, if at all, and how might this affect what kind of loan I can get on a mortgage?

I didn't get a collections notice from the bank, I just got a phone call from my auto insurance company.

The account that I transferred my money into was the same bank with the account from which I wrote the check and closed.

Answer 1

Unless during this process the item became over 30 days late, there is no criteria to report this incident to a credit bureau. Auto insurance doesn't report to a bureau unless the policy goes into collections, and the bank wouldn't report this incident because banks don't report account activity to credit bureaus unless it gets charged off to collections.

Good people make accounting mistakes once in a while. This won't show up on your credit - don't worry and happy house hunting.

Answer 2

It takes 90 days for companies to refer their collections to a credit agency, as long as you have taken care of the payment before those 90 days you will be okay. No need to worry unless they send you a collections notice. Once you recieve a collections notice they will then give you 30 days to dispute it, in the event that you have taken care of the collections attempt, there is nothing they can do but report it to the credit agency as "paid in full".

Answer 3

your credit score is affected only if u owe money to the bank or credit card company and you have not paid up by the due date. opening/closing a bank account has nothing to do with it.

Answer 4

Unless the bank reported it to a collection agency it wouldn't even show up on your report. You should check with the bank and make sure it was settled with them before they sent it to a collections department or agency.

Answer 5

As long as you covered it or took care of the problem it will not appear on your report at all.

Answer 6

If its a one-time thing and you promptly made good on it, it probably won't have much effect. Just be careful.

Answer 7

Should have no affect at all.

Answer 8

credit score???........you could go to jail