Overdraft on Business Account

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    I would still go! Let them tell you if you are disqualified. As long as you have legitimate reasons and a LOE, I don’t think you will be written off. Good luck and God Bless!


    IMO there are only 2 reasons the ATD will not benefit any member looking to become qualified:

    1. You have already met with your MC and your action plan includes meeting timelines that won’t be met by the time you attend the ATD

    2. The travel would be too much of a financial burden that it breaks your payment shock history


    What @Nelsont said. Unless you are waiting for certain specific timelines or travelling to an event would be a huge burden on you to the point you don’t have your MRF/payment shock, I would go if you are not yet qualified.

    If there was a legitimate reason or unusual circumstance that contributed to the overdraft, I am sure it can be explained with a LOE (Letter of Explanation), and you might be fine. Every situation is different, but they certainly didn’t look at 12 months of bank statements for me. It was mostly the last 3 months. So there is a chance that they won’t even look at this anyway.

    If I were you, I would write that LOE just in case, give them the statements they say they need, and see what happens. If they ask about the overdraft, give them the LOE. There is a chance that they might not even look back that far, anyway.


    I went to an ATD event knowing we wouldn’t qualify that day due to my Foreclosure. It was an ENORMOUS benefit because we got all the way to the Underwriter who looked at everything we had and wanted to do in detail and basically said “Since you can’t qualify until October, here’s exactly what to do to get exactly what you want as soon as you can qualify.”


    I spoke to someone at the naca office and they said that 3 months is all I need so everything is good to go. Thanks guys!

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