Overdrawn joint checking account

[laurenjarrod]

Hi Everyone, 

M BF and I had a joint checking account. I funded the account, and he was only listed on it so he could have a debit card if/when he needed to use my account. 

He never did, and didn't even have a login to access the account. 

I ran into some issues, and overdrew the account. He had no knowledge of this. The account was out on our credit reports and I feel horrible. 

Is there anything I can do to have them completly remove it from his credit report? I haven't paid yet, but am planning to. But I don't want him to be responsible for something he had no knowledge about, nor did he do himself. 

Also, will banks pay for delete? ( I'm assuming no, but figured I'd ask). 

[FinStar]

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@laurenjarrod wrote:

Hi Everyone, 

M BF and I had a joint checking account. I funded the account, and he was only listed on it so he could have a debit card if/when he needed to use my account. 

He never did, and didn't even have a login to access the account. 

I ran into some issues, and overdrew the account. He had no knowledge of this. The account was out on our credit reports and I feel horrible. 

Is there anything I can do to have them completly remove it from his credit report? I haven't paid yet, but am planning to. But I don't want him to be responsible for something he had no knowledge about, nor did he do himself. 

Also, will banks pay for delete? ( I'm assuming no, but figured I'd ask). 

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Since you mentioned the deposit account was joint, when the account was originally opened, did you both sign the Signature Cards as part of his authorization to access the account? These are internal documents that are part of the bank's records.

[SUPERSQUID]

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@laurenjarrod wrote:

Hi Everyone, 

M BF and I had a joint checking account. I funded the account, and he was only listed on it so he could have a debit card if/when he needed to use my account. 

He never did, and didn't even have a login to access the account. 

I ran into some issues, and overdrew the account. He had no knowledge of this. The account was out on our credit reports and I feel horrible. 

Is there anything I can do to have them completly remove it from his credit report? I haven't paid yet, but am planning to. But I don't want him to be responsible for something he had no knowledge about, nor did he do himself. 

Also, will banks pay for delete? ( I'm assuming no, but figured I'd ask). 

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Anyone my age during their lifetime was overdrawn or bounced a check, usually no biggie just pay the overdraft fee and restore a positive balance. this must be what happens when you dont restore the acct. i'm not being judgemental just observant. from what i understand from reading on the subject is that you can also be flagged for opening future accounts via the chex system or similar. is there any way you can square this with the bank? maybe if you square up they will remove the mark.

[laurenjarrod]

I cannot remember as we opened the account electronically on the bank's website. There was no physicial papers we signed, but we might have electronically. 

[laurenjarrod]

Yes, that is true. But it was overdrawn for over 30 days, and on the 31st day they closed the account and reported it to the credit bureaus. The bank will remove the flag for chex systems but stated that even if it is paid in full, they will not remove it from his credit. 

He filed for bankrupcy a little over a year ago and had finally gotten his credit scores back up into the low 700's. Once this hit, it dropped 50+ points. 

[SUPERSQUID]

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@laurenjarrod wrote:

Yes, that is true. But it was overdrawn for over 30 days, and on the 31st day they closed the account and reported it to the credit bureaus. The bank will remove the flag for chex systems but stated that even if it is paid in full, they will not remove it from his credit. 

He filed for bankrupcy a little over a year ago and had finally gotten his credit scores back up into the low 700's. Once this hit, it dropped 50+ points. 

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I know in some cases a creditor will add that the debt was paid in full next to the negative mark on the credit reports. if they are willing to do that it may be less of a disaster.

[OmarGB9]

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@laurenjarrod wrote:

Yes, that is true. But it was overdrawn for over 30 days, and on the 31st day they closed the account and reported it to the credit bureaus. The bank will remove the flag for chex systems but stated that even if it is paid in full, they will not remove it from his credit. 

He filed for bankrupcy a little over a year ago and had finally gotten his credit scores back up into the low 700's. Once this hit, it dropped 50+ points. 

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Really? They reported to your guys' credit after 31 days? That seems excessive...

What bank is this?

[SUPERSQUID]

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@laurenjarrod wrote:

Yes, that is true. But it was overdrawn for over 30 days, and on the 31st day they closed the account and reported it to the credit bureaus. The bank will remove the flag for chex systems but stated that even if it is paid in full, they will not remove it from his credit. 

He filed for bankrupcy a little over a year ago and had finally gotten his credit scores back up into the low 700's. Once this hit, it dropped 50+ points. 

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Only one year out of bk your scores are a rollercoaster anyway. its better it happened now than in a few years of rebuild. regardless of the outcome he shouldnt be disheartened, just stay the course and his scores will rebound with time, credit after all is a marathon not a sprint

[laurenjarrod]

Yes, I was surprised as well. When I called they weren't nice at all, no surprise I guess, but I was truley inquiring about what I needed to do to pay, etc. I explained my financial situation and how things went array, not looking for sympathy from them, but hoping we could get it resolved. 

It's a local credit union here in Alabama, Listerhill Credit Union. 

[OmarGB9]

That sucks. I'm sorry. I'm not sure there's a whole lot to be done. Perhaps go up to the top and try contacting the president of the CU to explain and hope for some goodwill?