if i close my bank account so that my gym doesn't withdraw anymore, wud it affect my credit rating?

Answer 1

yeap,if you close your bank account then the gym will but on your credit report will look really bad for 7 to 10 years.. and u will still have to owe them

Answer 2

do not close your bank account. the gym will only hound the heck out of you at home and at work.

YES the gym can report the non payment to the credit companies because you signed a contract/lease agreeing to a set payment.

The gym will tack on penalty fees too and can garnish your wages.

The best thing to do is go down to the gym and ask to speek to someone in the account/finaces.

Tell them you need to work out a deal so you can buy out the rest of your lease/contract.

I had to deal with my husband's old gym account first hand.

You are better off dealing with the gym than from running away from them.

Answer 3

Closing your bank account does not affect your credit rating directly.

Not paying the gym does affect your your credit rating. If you want to pay them some other way (not by bank deduction), that might be allowed. If you are just trying to avoid paying at all, that will affect your credit.

Answer 4

3 seperate questions in 1 there - lets take each point in turn 1 - there is no such thing as a blacklist. lenders look at a credit history and make decisions based on it and their own criteria, each one is different. 2 - if he goes to a building society, he will be able to get a current style account. Nationwide fle-account (without cheque book) comes with just a cashpoint card, but you can set up direct debits, standing orders and do online banking, so what more do you want from a bank account. 3 - technically your credit rating is your own, however - same surname, same address, likely to be confused with yours and so it will affect you from time to time. You can do something that legally "distances" yourself from the person with rubbish history, but not really practical if you intend having joint something, like mortgage, bank account etc.

Answer 5

no you can close your account and then they cannot take money out. however you will have to pay the outstanding amount if it needs be (depending on the type of scheme you have signed)
if you pay direct debit only and you can cancel anytime.
if it is a years or 6 months contract you will have to pay.
otherwise it will affect your credit rating eventually.so pay up its better in the long run.dont mess up your future for a small amount.

Answer 6

you can put a stop payment on your account so they cant take the money. just go into your bank and talk to a customer service rep. im not sure if it would effect your credit rating. i dont think so. they can just switch your account number if that makes you feel safer. the bank can still access old records of the old account if you look to apply for a loan or such. i know they check bank account history if you apply for a loan.

Answer 7

Did you sign a contract for a set time? If so, is that time up, and they're just still taking the money? If the time isn't up, then yes. You have broken a contract and they can have a collections agency deal with it. If they do that, it will affect your credit.

If the contract was signed and is now over, and you no longer wish to use your membership, you can cancel it. If you have and they continue taking your money, send them a request, in writing, that requires signature upon delivery, requesting them to stop debiting your account. If they don't, then close the account.

Answer 8

I would just go to my bank and ask them to put some sort of hold on my account so that this particular person can't withdraw. if this is not possible I would just close it and open up a new one, with a new bank.

Answer 9

You authorized the opening of your bank account.
You authorized the withdrawl account from the bank for the gym payment at the gym.
You authorize the closing of the bank account with an outstanding debt in your name.
What was the question?

Answer 10

just tell the bank you don't want the gym to withdraw funds anymore. you will probably have to sign a form.

If you have a contract with the gym, and you decide to just stop paying it, yes it will affect your credit rating.