HubSpot - list of delinquent debtors

Hey everyone,

I decided to make this my very first post here because I’m currently stuck in a bit of a situation and could really use some advice from you all.
So, yesterday I headed down to Bank of America—the place where my paycheck goes—to ask about getting an overdraft protection plan. Since I finally landed a permanent job with a full contract, I figured it would be smooth sailing, right? Wrong. Turns out, the lady behind the counter told me straight up that I'm on a blacklist, so there's no way I'm getting any credit. I was honestly floored; I had no idea I was even on a list like that. I tried to get some clarity, and she asked if I owed anything elsewhere. Well, yeah, I do. I have a small balance over at Chase around $2000, which I try my best to pay off regularly, but apparently, that's enough to land me on this list despite my best efforts...
I asked her what I could do to fix this or if she had any tips, but she just gave me a hard time. She basically told me that for the next three years, I won't be able to do much business with them beyond just withdrawing whatever cash gets deposited. As for loans? Don't even bother dreaming about it. She suggested I just go shop around at other banks since there are plenty of them out there.
Does anyone know of a bank that isn't going to care too much about this blacklist, especially since my paycheck hits my account reliably and I always stay on top of my bills?

@Rachel Johnson8 ... you really need to dig into this thread... nothing has fundamentally shifted here, except for the fact that banks have become a hell of a lot more aggressive about tightening credit approvals... and as for your idea about paying back bank debt whenever you feel like it? Honestly, saying "when I can" isn't exactly the brilliant strategy you think it is. It’s a disaster waiting to happen.

Seriously, go through the PDF guidelines
.

Thanks for the heads-up, Kimberly Nguyen,
I'm still pretty new here, just trying to find my footing.

ruggedhound0 said:Honestly, your best bet is to check in directly with your main bank to see if you're flagged. All the major banks are interconnected now—I was actually reading recently that once you're labeled a high-risk client, getting approved for a loan becomes nearly impossible across the board. Getting two formal warnings is definitely a red flag. It feels like those old-school blacklists aren't really the standard anymore; instead, there's this updated credit reporting system that tracks everything. In any case, the smartest move would be to head down to the branch and try to work out a deal before things spiral further—you know, avoiding stuff like needing co-signers or having them garnish your wages. I’m certainly no Wall Street expert, but taking out a new loan under these circumstances seems like a recipe for disaster to me—kind of like jumping out of a plane without checking your parachute? Sorry, I don't mean to lecture—that's just my two cents.

The FBI—well, more like the big national credit bureaus—keeps track of all that.

They can see every single loan you've taken out at other banks, including if you're acting as a guarantor or a co-signer—which, honestly, is something I've learned the hard way! They also see your overdrafts and any outstanding credit card debt. It's pretty thorough. :klap:

Rachel Johnson8 said:Hey everyone,

I decided to make this my very first post here because I’m currently stuck in a bit of a situation and could really use some advice from you all.
So, yesterday I headed down to Bank of America—the place where my paycheck goes—to ask about getting an overdraft protection plan. Since I finally landed a permanent job with a full contract, I figured it would be smooth sailing, right? Wrong. Turns out, the lady behind the counter told me straight up that I'm on a blacklist, so there's no way I'm getting any credit. I was honestly floored; I had no idea I was even on a list like that. I tried to get some clarity, and she asked if I owed anything elsewhere. Well, yeah, I do. I have a small balance over at Chase around $2000, which I try my best to pay off regularly, but apparently, that's enough to land me on this list despite my best efforts...
I asked her what I could do to fix this or if she had any tips, but she just gave me a hard time. She basically told me that for the next three years, I won't be able to do much business with them beyond just withdrawing whatever cash gets deposited. As for loans? Don't even bother dreaming about it. She suggested I just go shop around at other banks since there are plenty of them out there.
Does anyone know of a bank that isn't going to care too much about this blacklist, especially since my paycheck hits my account reliably and I always stay on top of my bills?

Look, feel free to go shop around at different banks, but honestly, I don't think you're going to get any overdraft protection or credit cards until that blacklist status clears. Every bank plays it differently when it comes to how long you have to wait after settling your debts before they'll actually trust you with those perks again.

$2000And let's be real, it's not like some tiny amount of money gets you blacklisted instantly. You usually have to dodge payments for at least three months or completely ghost the bank for that to happen. Usually, if you just sign a simple repayment plan, you wouldn't even end up on the list in the first place. But since you're already in the doghouse, expect to see that mark on your record for at least two years, not to mention the fact that the FBI has you flagged for poor financial conduct, which is probably an even bigger headache than the list itself.

What’s actually the absolute worst-case scenario when you end up on a bank's blacklist? — basically, because of some weird circumstances, I haven't been able to stay on top of my loan payments or credit card bills over the last few months, so now I'm officially flagged and honestly... I have no clue what kind of mess I'm looking at next...

Beyond the fact that you’ll eventually be footing the bill for everything with those predatory interest rates—not to mention the headache of being blacklisted—you really need to prepare yourself for the fallout. Once you hit the credit bureau's radar, expect things to get incredibly difficult for at least the next 36 months; getting approved for any new loans will be an uphill battle, if it happens at all.

I don't have any collateral tied up in these loans—they were all just straight-up personal loans—so I was wondering if there’s anything else that could trip me up, like maybe some fallout at work...

...if you haven't settled all those debts along with the accrued interest, I’m concerned the bank might just go through the courts to initiate a garnishment—basically sitting on your paycheck until they've collected everything... I'm not entirely certain if the bank sends that garnishment order directly to your employer, but my understanding is that they can freeze any account you hold at any major US bank... I suspect Kimberly Nguyen likely has more insight into how this works 🙂

If you don't settle the debt, the bank can freeze every single account you hold with them to recoup the funds—they might even trigger promissory notes or block your accounts at other institutions. Now, does anyone know the exact procedure for when they force an employer to divert a portion of a paycheck directly toward credit card debt? 🤷
I’m honestly not sure if that happens earlier in the process, but I am certain it's possible once a lawsuit is filed and a court order for execution is issued.

so basically I am totally screwed here — would love it if Kimberly Nguyen could walk me through what happened if she has a sec

Carol Long52 said:Beyond the fact that you’ll eventually be footing the bill for everything with those predatory interest rates—not to mention the headache of being blacklisted—you really need to prepare yourself for the fallout. Once you hit the credit bureau's radar, expect things to get incredibly difficult for at least the next 36 months; getting approved for any new loans will be an uphill battle, if it happens at all.

Actually, my take is that the clock doesn't even start ticking on HubSpot until the very moment every single cent of that debt is paid off.

So, how does it actually work when everything hits the fan at once—you know, when all those credit cards and loans start piling up?
I mean, I’ve already dealt with my checking account being in the red, but there’s still a mountain of other stuff left to figure out...

And just to make things even more stressful—I’m due to give birth in about a month and a half, but I haven't had any income coming in for months now... I'm seriously just barely scraping by at this point

I honestly don't even know what to say to you anymore... I mean, if I were in your shoes, I would have just gone straight to 🙂

You really should have stepped up the second you realized you couldn't keep up with your bills => go down to Chase, ask to speak with the branch manager... explain the situation, beg for a restructuring plan, some kind of grace period, anything... tell them you aren't trying to dodge your responsibilities, but you're asking for their help to tackle this debt together because the way things are going right now, nobody wins—not them and certainly not you. Since you've already cleared that overdraft on your checking account, there's actually a bit of light at the end of the tunnel 🙂

Has anyone actually ended up behind bars because of credit card debt? And I mean, like, did they lose their house or some other property that wasn't even tied to a mortgage or anything...

So, I heard about this guy recently who had his apartment foreclosed on just because he fell behind on his HOA fees...
It’s not like you’re heading to a federal penitentiary for it, but they’ll certainly come for your home if you aren't careful.

imagine an eviction notice for an apartment that doesn't even have a mortgage on it

Yeah, that’s pretty much what I was getting at...
Anyway, here's the link I was talking about 😉
http://www.chicagotribune.com/home/open/3280163/index.do

And what if the apartment is tucked away in one of those family homes—plus, the title situation is a total mess at the county recorder's office...