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Kalibah · 03-15-2006, 07:55 PM

I am trying to help someone I know (honestly- it isnt me) decipher their financial problems. She has a check card... now the problem I am seeing is that she enters a negative balance in her checking account- but she does not have overdraft protection. If it is a direct withdrawl (NOT working like a credit card) and she lacks overdraft protection should the swipe not have been declined due to lack of funds?

The second question is a little more complicated because she is not being totally honest with me. On a day in feb she had 185 bucks in her account then Ameriloan takes out (electronic withdrawl) that, and money she doesn't have- resulting in a negative balance. What I don't understand is how money you don't have can be taken out of your checking account if you lack overdraft protection?

I didn't know she was using payday loans, there is no reason for her to be except her horrible spending habits, and im upset she didn't TELL me she was using them when she came to me with this problem... we were suppose to get to the bottem of this... but she only told me half the story. The rest I had to decipher from the horrendously long statements.

Any help would be appreciated- if this has been asked before - sorry.

03-15-2006, 07:55 PM	#1 (permalink)
Kalibah Insane Location: Padded Playhouse	Check Cards and Negative Balances I am trying to help someone I know (honestly- it isnt me) decipher their financial problems. She has a check card... now the problem I am seeing is that she enters a negative balance in her checking account- but she does not have overdraft protection. If it is a direct withdrawl (NOT working like a credit card) and she lacks overdraft protection should the swipe not have been declined due to lack of funds? The second question is a little more complicated because she is not being totally honest with me. On a day in feb she had 185 bucks in her account then Ameriloan takes out (electronic withdrawl) that, and money she doesn't have- resulting in a negative balance. What I don't understand is how money you don't have can be taken out of your checking account if you lack overdraft protection? I didn't know she was using payday loans, there is no reason for her to be except her horrible spending habits, and im upset she didn't TELL me she was using them when she came to me with this problem... we were suppose to get to the bottem of this... but she only told me half the story. The rest I had to decipher from the horrendously long statements. Any help would be appreciated- if this has been asked before - sorry.