I am currently $350 overdrawn in my Chase account.

I am currently $350 overdrawn in my Chase account. I am worrying myself into thinking they will involve the government or something if I can't pay them back right away. Am I in any kind of trouble or will they give me a month at least to pay all of it back? Also this is my first time having a bank account so I don't really know what I'm doing.

3 Answers

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You need to contact them so they don't close the account. As Nelly said they may give you time to pay the money back and keep the account open.

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Contact the customer care executive right away. Explain your situation to him/her. You can request Chase to give you a month time to pay back the money. I don't think there will be any problem. If you can explain your case to them convincingly, then they can give you some time to pay back the money.

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Federal law states that the bank can keep the account open for a maximum of 120 days. After that they will close it and probably report you to Chex systems and turn you over to a third party collector. Being in Chex will make it extremely difficult to open a new account anywhere. See the branch manager and work out a plan. It must be brought up to positive in the 120 day period. No exceptions to that rule.

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