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Discover LudwigThe phrase 'is overdrawn' is correct and usable in written English.
You can use it to describe something that has gone beyond the limits that were set or agreed upon. For example, "The exaggerated description of the event is overdrawn."
Dictionary
is overdrawn
verb
Past participle of overdraw
Exact(29)
But this picture is overdrawn and overgeneralized.
Every month, every single month, your bank account is overdrawn.
And while that view is overdrawn, it isn't entirely wrong".
My checking account is overdrawn by a thousand seven hundred and eighty-four dollars.
Lipstick also helps a woman look poised, even when her bank account is overdrawn.
The World Bank says the groundwater in 75% of the blocks into which Punjab is divided is overdrawn.
Similar(31)
That's overdrawn.
Such fears are overdrawn.
Now it's overdrawn.
Now his account was overdrawn.
The characters are overdrawn and instantly recognisable.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com