Overdrafts and negative balances: What's allowed?
in Banking, Insurance & Loans ·
I have a quick question for the group, and since I couldn't find a more suitable thread, I’m hoping I haven't strayed too far from the topic here...
To give you some context: I was overdrawn at Chase, and after losing my job recently, they naturally revoked my overdraft protection. I went down to the branch and signed a repayment agreement for monthly installments right as I was starting a new position. However, life had other plans, and I've found myself without an income once again. This means I'm currently unable to cover the final two installments left on that agreement. My thought was to head back to the bank to see if I could request a payment deferral or perhaps some sort of extension until I can get back on my feet...
Has anyone here dealt with a situation like this before? Is it even possible to negotiate these kinds of terms once the agreement is already set?
To give you some context: I was overdrawn at Chase, and after losing my job recently, they naturally revoked my overdraft protection. I went down to the branch and signed a repayment agreement for monthly installments right as I was starting a new position. However, life had other plans, and I've found myself without an income once again. This means I'm currently unable to cover the final two installments left on that agreement. My thought was to head back to the bank to see if I could request a payment deferral or perhaps some sort of extension until I can get back on my feet...
Has anyone here dealt with a situation like this before? Is it even possible to negotiate these kinds of terms once the agreement is already set?