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What happens if you have a negative bank account balance...?
and you refuse to pay it and abandon the account? Are there any serious consequences?
EDIT: Actually, it is their fault. There online statements were wrong and had me going off of the wrong amount for over a month. On top of that, they implemented "overdraft protection" onto my account without my knowledge or consent, which allowed me to spend the money I thought I had, but didn't.
3 Answers
- 1 decade agoFavorite Answer
just a bad credit score so far ... for me anyway there not the irs they wont take your stuff away
- Genuine GuidanceLv 71 decade ago
If you are overdrawn, they will send you a letter informing you of such, and give you a date to make a deposit and bring your account current.
If you choose to abandon the account, or basically not pay, they will close the account, and send it to collections. They will also enter your name into ChexSystems which will prevent you from opening any other bank accounts.
In the end, the collection agency may choose to sue you. If they get a judgment, they can garnish your wages.
So, yeah, I would say those are pretty serious consequences.
- 1 decade ago
Bad credit and depending on the amound they can take you to small claims court. Do the responsible thing and pay what you owe them. Afterall it's not their fault that you spend more then you had.