Internet's first get-out-of-debt community - 136,000 members

Due to my own stupidity, my checking account is overdrawn. I was going in today to ask them to put a hold on it because I have PDL fees coming out on Friday. I'm faxing/emailing or sending my ACH Revocation letters to the PDL's today. Will they still put a hold on it since its negative? I'm freaking out... What are my options... I know I can't close it, I cancelled my direct deposit already so I will have a live check, so I can pay my bank on Monday so it will be positive then I can close it then, correct? Sorry for so many questions, I'm nervous...

Posted: Wed Jul 30, 2008 8:00 am Subject: reply

make sure it is frozen totally.i made the mistake of despite a written freeze on my overdrawn account,they still kept adding
continuos overdraft fees.9.00 a day for two weeks.be sure you
get that freeze in writing.

Posted: Wed Jul 30, 2008 8:04 am Subject:

So they will freeze it, even though its negative? Dumb question, I'm sure...sorry.

Posted: Wed Jul 30, 2008 8:07 am Subject: reply

they will, go talk to the branch manager,make sure you get it in
writing.this bank will try to sneak fees in on you.

Posted: Wed Jul 30, 2008 8:11 am Subject:

No, most of the time they will not do a freeze or hold if the account is in the negative already . . . . Most of the time you will find it an uphill battle.

Posted: Wed Jul 30, 2008 9:39 am Subject:

It is in my experience that most banks will not freeze an account that is in the red. They usually want you to clear the balance first, then close out the account. If you do manage to get a freeze on a account in the red, I would get it in writing. Most banks are infamous for saying one thing and doing another. Best of Luck Razz

Posted: Wed Jul 30, 2008 9:42 am Subject:

Which really doesn't make any sense to me. If an account is already in the negative, why add more on top of that? I am sure it has something to do with the almighty dollar but still unfair. Luckily, I bank with a very small hometown bank and they were very understanding and worked with me to protect any further damage to my account.

Posted: Wed Jul 30, 2008 9:45 am Subject:

Big fish eats little fish LLW. It's all about money. Banks make millions of dollars a year alone on fees to include NSF, overdraft fees, transfer fees, etc.. It is PATHETIC Mad

Example, my account was overdrawn $2.43 exactly. Do you know my bank charged me $35.00 on top of that in overdraft fee. That is BS! I would have gladly paid the 2 bucks to clear my account but $37.00 for that miscalculation is BOGUS!

Posted: Thu Jul 31, 2008 12:46 pm Subject:

just an update...

I went to the bank and spoke to the manager, well, I actually cried a little... but I guess it worked... He called someone and they froze the account with a PCS(?) number, he said there would be no debits of any kind or withdrawals...when the account is positive, then I can close the account. I sent the letters out, so I guess all hell will break loose soon, but thanks to the people on here, I'm ready for it!! I read these posts everyday, and quite frankly its the only thing that is getting me through all this!!!

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