Check acct overdraft included, does it show up on Chex?

[JasonK94Z]

We included an overdraft protection balance on our Ch7 from regions bank. Is this something that the bank would report to Chex?

[RickInMich]

Jason,

We are doing so as well. From what people have told me, no, it will not. The overdraft is actually a loan, just like a credit card giving you a cash advance. I hope that's true. I'll watch this thread, too, to see if others differ.

[genseeker]

My understanding is it won't be reported to Chex. I have also read that if you had overdrawn and closed bank accounts that you include in your BK, that once you are discharged you can send Chex a copy of the discharge and the filing showing the bank and Chex will completely remove the entry from your reports.

[MomIcantFindmy]

The only time it would show up is if the account was closed due to insufficient funds.

[emoney]

I'm sorry, but what do you think an overdraft is. It is a check that is presented for payment and there are not enough funds in your accout to cover the check.
An overdraft is a courtesy the bank extends to you for a fee. If you include that in your BK why would they not notify Chek System if you do not cover the OD in a prompt manner.
How can anyone afford their fees for overdrafts. Maybe Pay Day Lenders are less costly.
regards,
emoney

[DontBother]

I'm sorry, but what do you think an overdraft is. It is a check that is presented for payment and there are not enough funds in your accout to cover the check.
An overdraft is a courtesy the bank extends to you for a fee. If you include that in your BK why would they not notify Chek System if you do not cover the OD in a prompt manner.
How can anyone afford their fees for overdrafts. Maybe Pay Day Lenders are less costly.
regards,
emoney

In his OP, he said "overdraft protection". OD Protection is an account (it could be a Savings, credit card, LOC, etc) that some banks setup for you. Except for Savings OD Protection, the rest are usually credit-based accounts. OD Protection is completely different from just being overdrawn in your account.

[RickInMich]

I'm not sure what emoney means, but I have an overdraft "line of credit" with a $1,000 credit limit. I can utilize that loan any time by writing a check for more than what's in my checking account. Then I can pay that back just like any other credit card. It has a minimum payment, etc. So I don't think that will get reported to the Chex system if I include the current balance in our bankruptcy.

[emoney]

Banks extend overdrafts as a courtsey to customers and they charge high fees for this service. Unless you have a overdraft line of credit they if you do not cover the OD days after notification they can report you to ChekSystem. The FTC as of this date does not regulate companies like ChekSystmens.
regards,
emoney

[MomIcantFindmy]

My bank does not charge me for overdraft protection. We have a overdraft line of credit to $1000. If I go into it because I do not have enough funds they just pull it from there. No charge for doing so. Also, if you pay it within 30 days then there is no interest. It has saved me a few times. I think if I did not pay it then it would be reported to the credit bureaus but not chex systems.

[rrockinggramma]

I have OD protection and yes it is reported to chex systems if you include the account in Bk, mine was. I am in Michigan. But I think it also depends on the bank. This was a credit union and they are very nasty.

[CindyLou]

Remember, though, any account that is on chexsystems and included in BK will be wiped out clean on CHEX immeidately upon discharge if you fax them your discharge papers and request that it be removed. See this thread: http://www.bkforum.com/showthread.ph...ht=chexsystems