I had an account with wellsfargo last year and I overdrew it and it was closed?

I still owe the money, it has been reported to check systems, but if I dont pay that off and they charge it off does that go on my credit? The guy at wellfargo said yes it will. I just want to make sure i am not getting lied to.
I had an account with wellsfargo last year and I overdrew it and it was closed?
Pay your debts. That's is the same as stealing. It will go on your credit report.
Reply:So, let me make sure I have this straight. Correct me if I don't. So, you withdrew too much and could not pay it back because it turned into too much debt, so you are wondering if since your account closed, do you still have to pay it back in order for your credit rating to not go down and the amount of interest to increase? Yes, you borrowed this money and even though your account closed, you still owe it back!





Good Luck :)





Stigman... quit threatening with the community guidelines. Realize that people make mistakes. The question was is if he/she still has to pay it back or not b/c the account was closed... duh!
Reply:Of course you still owe the money! That action will follow you the rest of your life. IF YOU REALLY want to show good face and have good credit then pay off what you owe to them even if it takes a little time but that is how one grows credit. Remember this, never charge more than you make... for if U do that is stupid. If you make a 1000 a month do not charge more than 500 then pay that off each month and you will be able to buy almost anything you want or need. DO NOT BUY WHAT YOU WANT only buy %26amp; charge your needs, then when you arrive at that good credit rating you then can buy what you want. Above all be honest.
Reply:First, let me get this off my list...your first sentence is NOT a question!


Read Community Guidelines on how to ask a question.


You had an account, you overdrew it, and it was closed. So what is your question about that?


Second...It isn't going to be charged off..ever! They may stop trying to collect it after a year or so, or even turn it over to another collection agency...but once they DO that-it will be on YOUR credit history for YEARS. And any other bank or credit card company is NOT going to let you do the same to them. SO PAY IT BACK. Stop buying Starbucks everyday, give up smoking and drinking-make sandwiches for lunch-whatever you have to do...and send them $50 or $75 EVERY SINGLE MONTH. Don't miss a SINGLE payment-because HOW you pay it back will ALSO be on your report. That will help you fix your credit.
Reply:They were nice and covered your check instead of bouncing it. It is a debt that you haven't repaid, so, yes, it will go on your credit history and look really bad. It will probably cost you more in higher interest in the future than the amount you didn't repay.





You don't have to worry about being lied to. You are the one who stiffed the bank, causing higher checking fees for the rest of us.
Reply:If your account is charged off it will be reported in chex systems. They do that so that other banks are aware of your credit history and are careful when opening new accounts for people. They don't want other banks to run into the same problems.
Reply:It can be reported to a collection agency...but not as a "charge-off," that only applies to credit card accounts.