can a bank take money out of checking account to pay past due credit card.
THE CREDIT CARD PEOPLE CALLED OUR HOME AND SAID THAT THEY COULD HELP US WITH OUR CREDIT CARD BEING PAST DUE. MY WIFE SAID HOW CAN YOU DO THAT. THEY SAID THAT THEY WOULD TAKE 20% ON THE DOLLAR TO CLEAR UP THIS . MY WIFE SAID WE HAVE NO MONEY AT ALL TO DO THIS. THE NEXT DAY THEY TOOK 2000.00 FROM OUR BUSINESS ACCOUNT AND NOW WE ARE -700.00 IN OUR ACCOUNT. WE WONT TO DO THE RIGHT THING BUT THIS MONEY WAS TO DO BUSINESS AND NOW IT HAS PUT US IN A REAL BAD DEAL OVER THIS. IF WE DON'T HAVE ANY MONEY TO OPERATE OUR BUSINESS WE CAN NOT MAKE ANY MONEY. AND WE ALSO HAVE OUR HOME FINANCE WITH THE SAME BANK AND THEY REQUIRE US TO HAVE A CHECKING ACCOUNT SO THEY CAN TAKE OUR HOUSE PAYMENTS FROM THE ACCOUNT. NOW IF THEY CAN TAKE THIS. CAN WE JUST CLOSE OUT OUR ACCOUNT ALL TOGETHER. Save
Yes. Banks have the right to take funds in checking or savings to pay a past due debt owed to the same bank. This is often stated in the small print of the account agreement but it need not be in the account agreement for the bank to take a deposit to pay on a debt owed to the bank.
Look at your agreement with the bank. If it did not have the right to take the money, see a consumer lawyer in your area. Want to know the law? Sign up for our free newsletter on varies areas of the law by sending an email to firstname.lastname@example.org and requesting the newsletter, or go to www.ConsumerLawyerHelp.com