Bounced Checks

[fishbjc]

Last month I received notice that I owed $300 in NSF....account closed from an old checking account.

I paid $100, today I paid $200.  Account paid in full.  According to the rep, this has been reported to the credit bureau first of Dec., but will be updated as 'paid-in-full'.  What can this do to FICO?

[jackg]

What do you think will happen when a bank reports a derogatory account to a CRA? Of course it has a negative impact to your score, that goes without saying.

My opinion is that first and foremost you should address the issue of "Chex Systems", I don't know if you are aware of them or not. Besides CRA's that banks report to, they have their own industry reporting system, and when they report you, and they will, you won't be able to open an account at any financial system that subscribes to them. You are a "NO-GO".

My advice is to stay on top of this and give it your focus until all lights are green again.

[fishbjc]

Just spoke to bank..it wasn't a check it was an auto debit from the water dept.  As they run quarterly, I forgot to change it over to my new bank acct#.  Bank paid it and charged $38 lf, then $35 continuance.