Overdraft Protection pre-BK

[anonymuse]

When I got a new checking account (to be safe to move from credit union to regular bank), I didn't apply for the overdraft protection/credit. Would it "look" bad if I applied for it pre-BK?

I have no intention of using it but just want a safety net. But, I had a check clear in the morning before a paycheck came in and had a $2 overdraft that cost me $31.

I don't know how bad it would look getting it now, but figure after BK, I figure they wouldn't give it to me with lousy credit/BK on record.

Any suggestions?

[bige1030]

As long as you have no outstanding balance on the date of filing, it's okay to get it, and you don't have to tell the bankruptcy court about it, either (as with any zero balance line of credit).

But keep in mind, though, that even with ODP, your bank can and will charge you an NSF fee for every overdraft. It might be the full $31 or it might be less...but they can and still will make money off of you, even if you have ODP.

[Minnymouth]

Call and tell them that you meant to set it up when you opened your account and thought you had...... when you got the overdraft you realized you hadn't and needed to set that safety feature up if possible....

All they can do is tell you NO.....

[JollyGG]

Use Minnymouth's argument and ask them also to please remove the overdraft fee.

They may do so they may not, but it never hurts to ask.

[anonymuse]

She says I have $800 overdraft protection, but $31 fee for using it. Says I can get a small line of credit (i.e. 500 or 1000) that wouldn't have a fee, but just interest if I went into it.

Do you think that's okay to have (and not use)?

[CATCHMEIFYOUCAN]

I would think its always good to HAVE if you CAN GET. For BACK UP PURPOSES !

Good Luck CMIYC

[anonymuse]

Well, I went, but did not get. LOC requires premium checking which has fees. And then LOC fees are $20/mo and $35/yr. Give me a break! An overdraft fee is cheaper.