I am assuming that you are asking this because you are preparing bankruptcy schedules. If you have an attorney, you absolutely must disclose this to your attorney and they will advise you. As a general rule, you must schedule both the bank account as an asset with a zero balance AND as a creditor for the amount that is overdrawn. Upon filing, the bank will usually close the account due to the debt. If you do not want this to occur and can afford to do so, pay off the overdraft prior to filing for bankruptcy, schedule the account as an asset and exempt it as personal property. Then, so long as you do not overdraw it again, your account should be fine.
Agreed if you have an attorney ask the attorney. If not add the bank account to schedule B since the account is open. Value the account as $0. Then you would list the bank in the schedule F as a general unsecured creditor. They likely will shut the account off. In addition, if you list them in the bankruptcy and direct deposits go into the account they may setoff any money you put in there. What this is a creditor taking money to apply it to money you owe. In the checking account agreement there is likely a provision regarding setoff of the account. If you want to keep the account active and have the money to do so bring the account to a positive balance and pay the outstanding fees. If not you should switch bank accounts and your direct deposit. Hope this helps.
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