How long till they crack the safe?

[drowningNdebt]

Things are tight. I can't pay my debts anymore. How long until the bank can seize my bank account? I have 5 grand in there but it is for rent, utilities, car pmt, etc. Should I withdraw all of it? I'm rolling 30 days late thus far and unemployed. I'm very nervous.

[applecake]

Drowning,

We used to have a car loan through the same bank we had our checking. They would help themselves to the money in there any time I was late on paying the car loan. Finally I just took our money to a different bank where bank #1 couldn't touch it. If you have loans through the bank where your account is, I would take it out of there right away.

[woeisme]

No one can take your money out of the bank unless you have given them permission (read the fine print of those loan contracts) or if they have a judgment and appropriate court order. So how long til they crack the safe really depends. Do you have loans with your current bank? Have you given auto-debit permission to your lenders? Have you had any lawsuits go to court yet? The answers to these questions will tell you how long you have. If you're very concerned, close the account, and make your payments with money orders.

[caninebk]

I agree with Woe-Is-Me, if you are concerned, take the money out and pay things in cash or debit. Just be sure you can account for where it all goes just in case. Better safe than sorry!

[PoGirl]

If you have a loan at the same bank as your account AND your loan contract has the "right of setoff" clause, they can take the payment at any time. If the loan is with a different bank than your account, then you are okay as woeisme outlines above.

[drowningNdebt]

No I just opened the account. The one I had with my credit union I closed becuase I have a few loans with them. Also, because citi was helping themselves to an "autopay" I never authorized and I was charged $30 ten times due to insufficient funds because of them. So the answer is NO i do not have any loans with my current bank.

[keepmine]

If you have no loans with the new bank then, no right to off set exists. Te only way your account can be frozen if, you get sued and lose.