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New Bank Account

Member

New Bank Account

Hi everyone. I hope someone can shed some light into this situation. About 5 months ago or more. I had a negative account of 700.00 dollars just on over drafts and fees. I was going through a financial crisis. So my BofA account was closed. Time passed by and i always check my car loan through BofA and seen that there was a promotion for a new account w/ 300.00 bonus. Just out of curiosity I applied and got approved. Does anybody had this experience. Will they come after me when I make any type of deposit to recover what's owed to them. Thanks in advance.
Message 1 of 5
4 REPLIES
Valued Contributor

Re: New Bank Account

They may or may not go after you but if you did not cover the overdraft they will put you on Chexsystems.  That will keep you out of most banks checking accounts. 

Message 2 of 5
Established Contributor

Re: New Bank Account


123jv wrote:
Hi everyone. I hope someone can shed some light into this situation. About 5 months ago or more. I had a negative account of 700.00 dollars just on over drafts and fees. I was going through a financial crisis. So my BofA account was closed. Time passed by and i always check my car loan through BofA and seen that there was a promotion for a new account w/ 300.00 bonus. Just out of curiosity I applied and got approved. Does anybody had this experience. Will they come after me when I make any type of deposit to recover what's owed to them. Thanks in advance.

Seems likely - BoA can offset any deposit account you have with them to satisfy any balance owed.  My guess is they approved you hoping you would give them their money, which they could legally draw from your new account at any time.

Message 3 of 5
New Contributor

Re: New Bank Account

They can and they most likely will. You do have the option of calling them and having a payment plan set up.. that way they don't take it out in full when they do. You may also get the account closed out in a couple of weeks when the back office people pull up their reports and find your name on there again with a closed out account with a negative balance. Hopefully not though! Keep us posted. 

Message 4 of 5
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Member

Re: New Bank Account

Thanks. I'll make the call and ask around. if it red flags and they say i do owe that money ill make arrangements with them. i do remember i had desputed this account with a  credit agency and maybe it has been removed which i highly doubt.. I'll keep everyone posted...


Creditfan1234 wrote:

They can and they most likely will. You do have the option of calling them and having a payment plan set up.. that way they don't take it out in full when they do. You may also get the account closed out in a couple of weeks when the back office people pull up their reports and find your name on there again with a closed out account with a negative balance. Hopefully not though! Keep us posted. 



 

Message 5 of 5