Should I change bank?

[overspent]

Stop paying credit cards this month. Been making payments using on -line bill pay so CCard companies have my routing and account numbers? Is it legal for them to initiate ACH payment without my authorization?

[lrprn]

Stop paying credit cards this month. Been making payments using on -line bill pay so CCard companies have my routing and account numbers? Is it legal for them to initiate ACH payment without my authorization?

If you control sending the payments to the cc companies yourself, then that's not as risky. However, if you have other secured or unsecured debts that you owe the bank that you are including when you file, I would change banks just to defeat any cross-collateralization clauses you might have in the account agreements.

If your cc companies are being paid using auto-pay directly out of your account without you making the payment happen, then you need to change banks immediately. Give your old bank written notice that you have withdrawn permission for your cc companies to auto-withdraw from your account so they can't overdraw your account and cause problems for you that way. Also notify the cc companies on the phone, online, and follow up with a certified return receipt letter stating the same.

It's illegal for a cc company to take the payment from your account if you've withdrawn permission. However, it still happens. Getting the money back takes a lot of time and personal energy and can take months to accomplish. Why risk it?

[sassiebaz]

Yes, you should!