If I have checking at Acme Bank, and I have a CC and Line of Credit with Acme Bank. And I stop paying my payments on the CC and Line of Credit, can Acme Bank pull money out of my checking or freeze my checking?
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It's certainly a risk. There's some relevant background at http://findarticles.com/p/articles/m.../ai_n17193117/ Better to safe than sorry, and move your money, I'd have thought. -
I had 3 CC's from Chase bank. I closed my checking account after I had missed one of the first payments. Not taking any chances with the cash I have in my accounts.Stopped Payings CC's: 8/14/2009 | Retained Attorney: 9/23/2009 | Filed CH 7: 12/7/2009 | 341 Meeting: 1/21/2010 - Complete | Discharged: 4/9/2010
"One person pretends to be rich, yet has nothing; another pretends to be poor, yet has great wealth."Comment
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yes they can.
it is called 'right to offset'Don't take my word for it, I'm just sayin'Comment
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Can and do, I had a small card with my credit union and they removed money I had in my account to make a payment. I had a couple of hundred in an account just to keep it open. I don't blame them for taking it. I just wish I had remembered it was there as I sure could have used it.Discharged 1-25-10
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Yes- your creditors may freeze your assets if you are delinquent. However, if you file for bankruptcy, your creditors cannot make any attempts to collect on the debt- including freezing bank accounts. This is called the “Automatic Stay”.Last edited by AngelinaCat; 10-28-2009, 05:54 AM. Reason: Active link and name deleted--Forum rules.Comment
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You ever hear of Wells Fargo? They freeze accounts every day after filing.Originally posted by ravs View PostLast edited by AngelinaCat; 10-28-2009, 05:54 AM. Reason: Active link and name deleted--Forum rules.7-2-2009 Filed
8-28-09 341 Concluded, no assets
10-28-09 DISCHARGED/CLOSED!!!! Comment
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Although I had moved all of my accounts from BofA (I thought), when I missed the first payment on a BofA CC, they took the funds from my daughters account as my wife was listed as a co-owner.Filed Ch7 5/28/09 (Pro Se) Orlando, 341 7/01, UST selected case for audit 7/01, Last day for objection 8/31. Audit report filed 9/10, no material misstatements. Discharged and closed 9/22/2009Comment
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BoA took money out of my account. Actually over-drafted the account so I got 6 charges for $35 each in addition. I had to get it back to $0 to close it so they couldn't overdraft it more. At least my tax dollars bailed them out.
Move your money and close the account!Comment
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