Would an over-drawn bank account be considered credit debt?

UPDATED: Jan 6, 2012

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Would an over-drawn bank account be considered credit debt?

I over-drafted on a bank account 3 1/2 years ago. The bank closed my account. The SOL for credit debt is 3 years in CO.

Asked on January 6, 2012 under Bankruptcy Law, Colorado


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If you had an overdraft protection account with respect to a bank account that you exceeded the amount of the actual money that you had in the account, there is a good chance that the bank may be time barred under your state's applicable statute of limitations from pursuing a legal action against you.

From what you have written, it seems that the overdrawn bank account that you have written about is a credit debt. To be sure, I suggest that you consult with an attorney who practices consumer law.

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