Five years ago I disagreed with overdraft fees my bank charged me and basically walked away from the account with a negative balance. I haven't had a bank account since and never paid the bank the money. Now I want to open an account, but assume there may be a red flag on my name still. Is there a statute of limitations on this? I want to avoid the embarrassment of finding this out while I'm trying to open the new account.

All a SOL would do would make it impossible for them to sue you for the money.

Chances are its still there.

Typically when a bank account closes with a negative balance, you will stay in ChekSystems for seven years. Often even after the seven years has expired you are still listed. It will be up to the new bank if they wish to offer you an account and most often they will not.

Hello t:

Although what steve says is true, banks subscribe to companies such as checksystems and telecheck who report problems with checking accounts.

One of those company's probably has a file on you, and your new bank will probably inquire of them. That IS, after all, WHY they employ such services.

They are NOT credit reporting agencies, per se. Therefore they are NOT subject to the FCRA. Consequently, your data will probably stay in their files UNTIL you fix it.

excon