Repeat A: Why do I have a negative balance in my checking account? B: This means you used more money than you actually had in your account. A: So what do I do now? B: The negative amount is how much you owe the bank. A: Am I going to be hit with an extra fee? B: The bank will charge you a $35 overdraft fee. A: How long do I have to pay the negative amount back? B: You should do it as soon as possible or else the bank can charge you more
money. A: What happens if I don't pay it back? B: The bank can close your account and send the balance to collections. A: That's not good for my credit. B: No it's not. You'd better get it taken care of.