thanks for visiting cnnmoney.

We're no longer maintaining this page.

For the latest business news and markets data, please visit CNN Business

Rejected: 'I was denied a bank account!'

Forget trying to get a credit card -- some people can't even open bank accounts. These four people have been denied basic checking accounts, often because past mistakes came back to haunt them.

Bank account raided

account rejects jim wood
  • Name: Jim Wood

A few years ago I got divorced and was left with $82,000 in credit card debt as part of the agreement .... I had consolidated the credit card debt that I owed to a few different companies, and I paid it down from $82,000 to $10,000. But then I missed my second monthly payment in a year, and one of the companies said I no longer qualified for the consolidated monthly payment plan. They wanted all their money in a lump sum, which I couldn't afford.

Through legal means, they raided my bank account and took whatever funds were left. There were some checks I had written that were floating around that people hadn't cashed. So when those checks were cashed ... my account was overdrawn and I was hit with fees.

I knew I needed to pay back the funds I owed [a little over $600 in total, including fees], but I didn't have the money, so I tried to open a new account at a different bank that I could use to at least deposit checks while I figured everything out. But the bank said no, that a report showed I needed to resolve my issue with my old account.

Then I was referred to a place called AMG Consulting, and they told me about ChexSystems. They negotiated the original debt I owed the bank, and I paid back the negotiated amount. Since then, I've been able to get a bank account.

  @blakeellis3 - Last updated August 17 2012 08:51 AM ET

Partner Offers

Find Homes For Sale

Most Popular