Bank Account Overdraft

[MeLLE159]

I'm going to be filing in the next month or so and I have a bank account with BOA. The account is currently overdrawn because this cash advance play that I used to take out a 200 loan back in late 2009 keep attempting to withdraw money out of the account when there isn't any in the acount. I had to stop my direct deposit and change banks so I could have money to pay my bills. I can't afford to make account positive right now and I don't believe they will close it at my request with a negative balance. I'm going to include it in my bankruptcy but right now I'm continuing to be charged a fee. Any thoughts on what I can do? I owe the company the money, but I can't afford to pay it right now.

[ohiojewel]

Try to open a new account at a bank where you don't have any other debts. You can discharge the overdrawn account on your bk. I discharged my overdrawn bank account. Instead of opening a new bank account, I personally use a prepaid debit card that has the option of direct deposit.

Also you are correct that you can't close an overdrawn account. The bank will eventually close it for you. US Bank closed mine after about 45 days from the initial overdraft.

[BCA2009]

The overdraft balance can be discharged in BK, along with any fees they charged you. Just don't make any deposits into the account. I went thru the same thing. I had a boat payment go thru automatically that I didn't plan on paying and it depleted my account and put me into overdraft (even though my overdraft account was already maxed out).

I had already changed my direct deposit from my paycheck. I just never deposited anymore cash and listed the bank as an unsecured creditor.

I don't think it would work the same if you had written a bad check, that would be illegal. But the bank decided to honor a debit card transaction (auto debit) without enough funds in the account. They were just SOL.

It's funny, the bank was my biggest unsecured creditor. I owed them over 15K on a credit card/ overdraft and they didn't file a claim (I was an asset case). I was only an asset case for 4K in assets, but the bank would have gotten over half of that had they filed a claim. Only 7K of claims were filed on 37K of unsecured debt. None of my secured creditors filed a claim even though I was upside down on all of them.

[MeLLE159]

Thanks OhioJewel. I did open a new account so that's good. I also have printed out my statements for the last 6 months since I know that will be needed for filing. I'm just wondering once they close the accounts I won't have access to the online statements. Will the trustee want to see more statements? I have a new account now that my paycheck goes too. I'm just wondering.

[ohiojewel]

I actually paid to get the final statement which showed my account had been closed and the negative balance it had on the date of my filing. The trustee never did ask to see it though so it was wasted money (nearly $10 I think), but of course better safe than sorry.

So what I'm saying is that even if you lose the online access, you should be able to get a statement from the bank (although maybe at a cost like I did). Also you'll want to have statements from your new account, but perhaps that is a given.

Julie

[MeLLE159]

Yea! Thanks so much for the info. This site has been a godsend. I found it just when I needed it... Thanks for answering.
BCA2009 I also appreciate your response as well.