Dealing With an Overdrawn Bank Account

Category Banking
A forgotten ledger entry or a mistake in subtraction can turn into a very expensive problem with your checking account. This page is about dealing with an overdrawn bank account.
Advertisement

Solutions

Share on ThriftyFunThis page contains the following solutions. Have something to add? Please share your solution!

February 10, 2009

My Mom has Alzheimer's and my sister and I started taking over her finances and discovered she was overdrawn nearly $600.00. We went to the bank and were told that as a last resort only, our bank offers a "fresh start". This allows them to take out so much per month for six months, but zeroed out her account, so that when her check went in it was not eaten up with that negative balance and fees. I don't know if all banks offer this, or if you have to have a direct deposit set up (which I think most people do) in order to do this or what all the rules are, but it is interest free with her bank.

If there is no other alternative and you are in dire straits, ask your bank if they have something like this in place. I can see why they wouldn't advertise this, but in today's economy, so many people are behind.

Advertisement

Source: Discovered this yesterday from a very helpful bank employee.

By Karen from Union, SC

Comment Was this helpful? 1

Comments

Read More Comments
Advertisement

Categories
Budget & Finance BankingNovember 11, 2012
Pages
More
😷
Coronavirus Tips
📓
Back to School Ideas!
🌻
Gardening
😎
Summer Ideas!
🐛
Pest Control
Facebook
Pinterest
YouTube
Instagram
Contests!
Newsletters
Ask a Question
Share a Post
Categories
Better LivingBudget & FinanceBusiness and LegalComputersConsumer AdviceCoronavirusCraftsEducationEntertainmentFood and RecipesHealth & BeautyHolidays and PartiesHome and GardenMake Your OwnOrganizingParentingPetsPhotosTravel and RecreationWeddings
Published by ThriftyFun.
Desktop Page | View Mobile
Disclaimer | Privacy Policy | Contact Us
Generated 2020-07-18 17:10:32 in 1 secs. ⛅️️
© 1997-2020 by Cumuli, Inc. All Rights Reserved.
https://www.thriftyfun.com/Dealing-With-an-Overdrawn-Bank-Account.html

Add to PageAsk a Question