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How long will it be before you can open a checking account if you were denied a checking account not because of bankruptcy but because of outstanding debt?
Wiki User
∙ 15y ago
There are banks that will help you regarless of your credit history. If you have been reported to chexsystems, your name remains on file for 5 years but there are also banks that do not use chexsystems
Wiki User
∙ 15y ago
The timeframe for when you can open a checking account after being denied due to outstanding debt varies depending on the specific situation. It is recommended to speak with the bank or credit union that denied your application to understand their specific requirements and timeline for reapplying. Additionally, resolving your outstanding debt and improving your credit may increase your chances of being approved for a checking account in the future.
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Why is outstanding expense is credited in outstanding expense account?
Because it is a liability for business
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
Are there more fees in a checking account compared to a savings account?
Most checking accounts have no fees. Savings account has more fees than checking accounts because of the higher interest yields available in a savings account.
Can a bank take your deposits out of your account after you have filed for bankruptcy?
no because you have no money idiot
If your payments are on time can they repo your truck just because a separate checking account is in default?
IF your loan contract calls for cross-collayteralization of the checking account, YES.
Is it possible to overdraw a checking account using a debit card?
Yes a lot of people tend to overdraw their checking account because they do not know how to balance their checkbook.
What is the term for money kept in a checking account?
A checking account is called a "demand deposit" because it is available for transfer to another individual or company by writing a check or draft.
What is the minimum amount need to start a checking account at 5th 3rd bank?
To start a checking account at a fifth third bank you must at least have a minimum of fifteen dollars, because fifteen dollars is the cost of the monthly fees to keep the checking account.
For a small business, what are the benefits of opening a business checking account rather than using a personal checking account?
There are several benefits from opening and maintaining a business checking account rather than using your personal checking account. When you use a business checking account you are segregating your business funds from your personal funds, thus creating better organization for your business. Also, having the business checking account will help at tax time because all your business transactions will be within the business checking account and there will be no need to sort through your personal transactions. Finally, the business checking account will allow you to use a taxpayer identification number (TIN) so the funds can legally be owned by your business, instead of using your social security number on the checking account. For a small business, opening a business checking account allows you to get more interests. In addition, transactions are processed faster compared to a personal account.
Do you close your checking account when you are filing bankruptcy on online payday loan companies that debit your account?
Closing your account is the only way to ensure they won't take any more money. Many payday lenders are bottom feeders who don't abide by the laws anyway. Just because you file bankruptcy doesn't necessarily mean they will stop trying to take money out of your account. Secondly, find out if payday loans are legal in your state. Some states have made them illegal. It may not be necessary to file bankruptcy if payday loans are your only issue. A bankruptcy attorney should give you a free consultation. Your state attorney general or financial regulator could give you more info on payday loans in your state.
Why would a business open a checking account instead of a savings account to manage cash?
because there just good like that
