Am I Screwing Myself Up In The Wrong Way???

[pwmed2005]

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ok, AFTER reading all these posts about convictions, I am scared to death!!! Just in summary, I grew up not having much money and a bunch of problems financially. For the past year or so, I barely get by with limited amount of money. Hence, I have been ***** around by writing bad checks. My money problems have caused me to think like a felon and cheat the system. I would write bad checks a few days in advance of my payday and use that money the next day. when that day comes, there is already money in my account from the payday to cover the check.

I read that if you write a check, knowing there is insufficient funds, is a criminal offense and you can be thrown in jail for it. It freak the hell out of me because I didn't know what I was doing , but I was desperate for money.

Just last week, I made another stupid move and now a credit card company fraud department seems to be investigating my activities due to unlawful check writing. I am so scare..... right now.

I have so many regrets of what I did and I wish and would never write another bad check in my life even if my bills goes to collection and no electricity in the house. I rather live cheap than go to jail.

This is crazy.

What would you guys do? Would you have done the same thing that I did, for example, to prevent a checking account to be close do to delinquency???

BTW, what does it mean to have a checking account charged off by a bank??? Will it affect your eligibility for MEDLOANS? I have one charged off a few weeks ago because I couldn't find funds to cover for an overdrawn balance.

 

[bkmonkey]

BTW, what does it mean to have a checking account charged off by a bank??? Will it affect your eligibility for MEDLOANS? I have one charged off a few weeks ago because I couldn't find funds to cover for an overdrawn balance.

This is not a good thing. It means that it was charged off to bad credit. It's basically a big black mark on your credit history. Anyone can borrow from the Stafford loan program regardless of their credit history, however, private lenders look at you credit history. I understand that your situation totally sucks and not having money totally sucks, but you have to be careful. What you do now will seriously affect your future.

 

[Dr.LeoSpaceman]

charge off=worst thing that can ever happen to your credit score. This basically means that the bank/credit card company thinks they can never get the money from you. So, they are definitely going to reflect that on your credit report, which, yes, may affect the terms you get for med school loans.

And as for your entire situation, I think fraud is pretty bad. I mean, its not a small misdemeanor or anything. Plus, if med schools/licensing boards find out they will probably want to know all about it. Not to say it would keep you from getting a license (people have done worse and gotten them) but its not going to make the process any smoother.

And no, I would not write bad checks to prevent delinquency. I have a friend of the family who did that with his businees, and the FBI caught on. They investigated him, he didn't go to jail, but they did turn his life inside out. Definitely not worth it.

 

[Psycho Doctor]

yikes!! it certainly is not going to help you and it could very well hurt you. In addition they will defintely do a credit history if you need to apply for loans to med school. Do ot lie about it though b/c it's very easy to check and it will be far worse if you are caught lying. Good luck, man....

 

[Fermata]

I suggest you stop now.

If you do something like this knowingly, then you should be prepared to face the consequences.

 

[bkmonkey]

You should get a copy of your credit check right now to find out what's on there. At least you will have an idea about your loan eligibility.

 

[pushkin]

Have you been charged with any crimes? If not, then I don't see why any of this would show up on your application. Your credit might be affected, but bad credit is not a felony or misdemeanor. Yes, bad credit can affect your ability to get loans, but do the best you can starting now and cross that bridge when you come to it.

You don't have to write down everything you feel guilty about on your application, just the things you've done that are illegal and that you've been caught doing and charged with. I'm not sure an "investigation" would even fall into that category. In this country you are innocent til proven guilty.

 

[synapse lapse]

First, off calm down. you definitely aren't the first person to write a check without the money in the bank yet. I have done this many times, as have most people I know. It's not taht big of a deal, as long as the money gets in and everyone is paid. Second, even if you have horrible credit, you will still be able to pay for med school. The stafford gov't loan (which anyone can borrow from regardless of credit) is maxed at $38,500 per year for medical school, so you will be fine at 90% of schools you apply to . Chargeoffs look bad on your credit, but sometimes life sucks, what are you gonna do? Cut the OP some break, plenty of good people get into financial trouble, and writing a hot check isn't gonna get you thrown into the slammer, unless it''s often and for a not insugnificant amount. Do what you can to pay them back, fix credit as you can, and focus mostly on school.