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The term “bounce” or “bouncing” can refer to fun children’s games or a cute newborn baby. However, when the word bounce is used to describe a check, negative thoughts may come to mind.

Let’s face it. Most of us have inadvertently miscalculated our checking account or forgotten about an automatic deduction. It can happen to even the most budget-conscious individuals. Unfortunately, these simple oversights may have resulted in an overdrawn account and costly fees, which will eat into your debt settlement savings. reports that non-sufficient fund fees can be as much as $35. In addition, your bank may also charge you a daily fee, averaging $2 to $10, for each day your account has a negative balance.

Overdraft protection may help you avoid some of these fees and aggravation associated with bounced checks. You usually have to sign up for this service and have an additional account with your bank. If your account becomes overdrawn, overdraft protection kicks in and obtains funds from a savings or checking account, a credit card, or a home equity line of credit. Because of your limited access to credit, you may consider using an additional checking or savings account for overdraft protection.

When it comes time to re-establish your credit, you may want to reconsider using a credit card or line of credit for overdraft protection. states that consumers may incur 18 percent or more in interest when they use credit for overdraft protection. Some banks may also charge an annual fee or cash advance fee for this service. With most overdraft protection plans, banks usually deduct money from the linked account in certain increments. For example, if your account is about to be overdrawn by $10, your bank may still take $50 from a line of credit. Therefore, banks encourage you to spend and borrow more money than you really need.

Keep in mind that overdraft protection is intended to help you out in case you accidentally overdraw your checking account once in awhile. According to, banking experts estimate that approximately 50% of consumers that have overdraft protection use it every month. If you find yourself using this service this frequently, you may consider keeping better track of your expenses.  

Credit Answers offers low fee debt settlement with guaranteed results. TASC-Certified for the highest standards in the settlement industry, Credit Answers works to enable a fresh financial start for individuals with debt problems. Give us 10 minutes and learn how you can save thousands on your unsecured debt. 1-800-297-6417

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