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overdrawn account and chexsystem question

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Hi there..
For probably a month and 1/2 my checking account has been overdrawn due to pdl's. I finally stopped my direct deposit since my bills are all WAY past due. And Im trying to handle the pdl situation. My boyfriend is also on my account, but he has his own checking account. Will I be unable to open an account anywhere else because of my overdrafted account? It's in the red pretty bad... Or does it get reported to chexsystems after it's been closed and there's still a negative amount? If I had my name added to his account is there still a chexsystem verification?
Thanks for any information you can give me
Laura




I was in a very similar situation except I screwed up two bank accounts because of payday loans. Both of my bank accounts were closed in the red and reported to checksystems. However, before my first account was closed, I was able to open another account with a different bank before it was reported. I don't think they reported me to checksystems until they closed the account. Don't know though if you will be able to be added to your boyfriend's account at the same bank where you are in the red. I would go to a different bank before your account is closed and reported. I, for one, now cash my check at a check cashing facility and deposit the funds into a debit/credit card to pay bills. Until I'm debit free, and have fully paid my two bank's overdraft fees, I refuse to open a bank account. Don't know if I could anyway.

Hope this helped.

Sub: #1 posted on Thu, 06/19/2008 - 23:38

little-puddin little-puddin

(Posts: 42 | Credits: 3.16)

I would check out MCA's site for help - Even if you can "beat" your chex report by opening an account at another bank right away, there is still a huge risk. Most banks are onto that, and now do sweeps of accounts every few months. If that happens, they will catch your chex report, and freeze and close your new bank account.

It's best to go with a bank that doesn't use Chexsystems to verify at all. And yes, they will run you through chex if that is what they use to add you to your boyfriends account.

Also, they will probably report your boyfriend too, since he is on your account now.

Sub: #2 posted on Thu, 06/19/2008 - 23:58

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

Wow, thanks for the information. Just when you think pdl's screwed ur life up, more gets added to it. I've definately learned my pdl lesson.

Sub: #3 posted on Fri, 06/20/2008 - 00:07

lauramw71 lauramw71

(Posts: 72 | Credits: 13.83)

Yeah, I know what you mean!

MCA is a member here that has her own site dedicated to helping people on Chexsystems find new, good bank accounts. Her site is chexsystemsvictims.com.

Sub: #4 posted on Fri, 06/20/2008 - 00:35

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

Ok, I looked at MCA's site. The bank that my boyfriend is with is US Bank, and it looks like it's on the "safe list". But, when he opened the account, my account from a different bank was having no problems. These recently came up after the darn payday loans. Will he be ok since he's had his account over a year with no problems? I will be horrified if his gets closed because of this also.
thanks for all the great help
MCA - what an AMAZING site! Thank you for all the time and effort you have put into creating that!!!!

Sub: #5 posted on Fri, 06/20/2008 - 00:37

lauramw71 lauramw71

(Posts: 72 | Credits: 13.83)

Exactly. Payday loans have caused so many problems for me. Complete nightmare. Never again. I'm finally on my way back to financial freedom.

Sub: #6 posted on Fri, 06/20/2008 - 00:39

little-puddin little-puddin

(Posts: 42 | Credits: 3.16)

As long as you aren't added to his account, he should be fine.

US Bank is on the safe list because they will still open you an account if you are on Chex in the in store branches. But, I would not recommend you get added to his account. It's probably best to just find yourself an account somewhere else.

Sub: #7 posted on Fri, 06/20/2008 - 00:41

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

Thanks so much Goudah. As long as at least one of us has an account somewhere I think we'll be ok for the time being. It makes me sad that I am losing the bank account I've had for years, but I guess it's all a learning experience.
I dont know what I would do without you guys here!

Sub: #8 posted on Fri, 06/20/2008 - 01:05

lauramw71 lauramw71

(Posts: 72 | Credits: 13.83)

Some US branches are " safe" but US Bank does use chexsystems. So if you apply at some branches or apply online, there is a very good chance that you would be denied. Generally the " in Store" branches are the ones that tend to be more lenient with chexsystems issues. Also, some states are more difficult than others. So it really all depends.

Sub: #9 posted on Fri, 06/20/2008 - 01:08

Mary Adkins Matthews Mary Adkins Matthews
Moderators Cum Industry Expert
(Posts: 755 | Credits: 146.74)

Laura - I would try to open another account now. If your current account hasn't been reported, you should be able to open one. Try opening one that doesn't use Chexsystems, in case they "sweep" like Goudah mention.

Try to resolve this with your current bank so that it doesn't get resolved. If they report the account to Chexsystems and it is a joint account with your boyfriend, he will get reported too, and if his bank does sweeps, he runs into the possibility of having his account closed by his bank.

Better to be safe than sorry.

Sub: #10 posted on Fri, 06/20/2008 - 01:17

desperatelyseekingsanity desperatelyseekingsanity

(Posts: 1129 | Credits: 58.41)

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