Can you go to jail for overdrafting bank account 500 dollars?

Can you go to jail for overdrafting bank account 500 dollars?

Postby josue65 » Mon Mar 07, 2011 8:35 am

5 months ago I overdrafted my bank account 500 dollars from the ATM. I'm going to pay it back but not until around summer because I loss my job.

I talked to them and was told that my account is closed.

I'm worried court/legal issues might come up before summer, causing me to be locked up. Which is something I really cant afford. (court costs, days unable to be searching for a job on, etc.)
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Can you go to jail for overdrafting bank account 500 dollars?

Postby fachnan » Mon Mar 07, 2011 8:37 am

You should be asking the bank this. But, banks usually don't disperse money, especially 500.00 from the ATM if you do not have the funds.
Call your bank.
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Can you go to jail for overdrafting bank account 500 dollars?

Postby correy80 » Mon Mar 07, 2011 8:39 am

Unless you committed fraud it is unlikely you will go to jail. But try not to overdraft again. This will cost you money and hurt your credit rating.
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Can you go to jail for overdrafting bank account 500 dollars?

Postby gray58 » Mon Mar 07, 2011 8:40 am

You know, if you had been paying on this account, even 10 dollars regularly they may still have closed the account, but since you are paying on it they probably wouldn't turn it over to the DA. How they will handle this is probably up to the Bank board of directors. So go into the bank president and talk to him/her about this and ask what is going to happen if you can't give the money back until this summer. They may do nothing..... But it's a given you won't be able to open a bank account anywhere until you get this paid back. In the future if your bank offers over draft protection, don't take it.
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Can you go to jail for overdrafting bank account 500 dollars?

Postby drystan61 » Mon Mar 07, 2011 8:42 am

~~No you will not go to jail. What banks do is enter you into the CHEX system and you will not be able to get a checking account until that money is paid back.

In the meantime they will enforce collection proceedings against you, which will cost you more money after they attach their fees, then take you to small claims court. Once there you will both present your sides and a judge will decide (without a doubt on this the judge will grant the bank a judgment against you). Then they are able to attach your bank account, lien any property you own that could be sold to satisfy the debt, or garnish your wages, basically whatever means they can to get the money you owe them.

As for the last part of your question, even though everyone is very mad about what the banks have done to cause the financial downfall of the economy, two wrongs do not make a right. When you owe money, it must be paid.~~
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