My bank is refusing to close my checking account until I pay the overdraft fees they excessively charged. I told the rep at the bank that I would make arrangements to pay the money I "owe" them, but that I want to close the account to stop their continued overdraft fees. What can I do?:(

You can't stop the continued over draft fees until well, you have it fully paid.

And if you decide not to pay the bank fees, then they will turn it over to a collection agency, which if you don't pay that it will screw up your credit. Trust me, the collection agencys will not stop sending letters and calls.

If you can't pay the full amount now, I do suggest (though not very highly) waiting for the bank to put it through the collection agency and then making payments through the agency.