csmidwife Posted August 20, 2003 Report Share Posted August 20, 2003 I have read here where some have had the oc/ca take money from their bank/checking account "unauthorized". I am hoping to settle my accts eventually, but as we are approaching the 6 month period since I quit paying I am wondering if they will try to zap our acct. If we close our our current acct and get a totally different bank/acct, can they still do this? I mean, are they only able to do this when they know your acct info from you paying them with it previously? Or is there another way they can find it out? I remember seeing on our CR some bank info, but not the actual acct #. Thanks for your help.Dawn Link to comment Share on other sites More sharing options...
nolo Posted August 20, 2003 Report Share Posted August 20, 2003 csmidwife,If you owed Wells Fargo Bank (just as an example) money on, lets say a delinquent Visa card account and you also kept a checking or savings account with Wells Fargo Bank, they could seize your other accounts to pay off the deliquent Visa account because it's within the same banking institution. BUT, if you have the checking or savings account with some other bank, not affiliated with Wells Fargo, they would need a court order or judgement against you in order to seize funds.At least that's how I understand it. If I'm incorrect, I hope someone else will help out here. Link to comment Share on other sites More sharing options...
cybercrusader Posted August 20, 2003 Report Share Posted August 20, 2003 Yes, I too have heard of OC's being able to withdraw their payments from a person's checking account or credit card even if the accounts are held by another institution. However, besides what nolo pointed out, this only happens (so I'm told) in circumstances where you pay certain bills online. When you pay your bills online, you're required to register a checking account and/or a line of credit with the OC. By participating in the OC's online bill payment program you also agree to certain Terms & Conditions. If the Terms & Conditions contain a provision allowing the OC to access your checking account(s) or line(s) of credit in the event you're late or you bounced a check, then they can pull the money from any account you registered and it's considered "authorized". This, by the way, is exactly the reason why I don't pay my bills online. Not because I'd be late , but because mistakes happen. I had a bad experience with PayPal and this is exactly how they operate. Link to comment Share on other sites More sharing options...
ghacorp Posted August 22, 2003 Report Share Posted August 22, 2003 It ususally doesn't make sense to allow anyone to debit from a bank account in the name of convenience. Just go online and pay the bills when due. Creditors and collectors can discover secret bank accounts even when not disclosed on credit applications, but oftentimes they must pay for an asset search. Some banks also release or sell information on their account holders! Foreign accounts can not be seized by creditors here in the United States, so it may make good financial sense not to maintain large sums in the states if you owe money to someone or you are at risk of getting sued for something. Link to comment Share on other sites More sharing options...
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