I had a jointchecking account with a friend. We ran into some problems and ended up owing the bank $500. Since then I have had financial hardship and they closed my account. Will I be able to open up another account or will that debt show up and affect my ability to do so?
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Many, but not all, banks use credit reporting agencies when considering new account applications. Some of the agencies only report on problem deposit accounts. Other agencies focus on loans and other credit accounts. Still others may have information on both types of credit experience.
If you are turned away from a bank because of information in a credit reporting agency report (usually referred to as a consumer report, but sometimes called a "ChexSystems" report or credit report), the bank should tell you which credit reporting agency provided the information on which it based its decision. Try to settle up with the former bank(s) to avoid the potential for future problems.
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Many, but not all, banks use credit reporting agencies when considering new account applications. Some of the agencies only report on problem 