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if i have a boa bank acct. and have a charged off boa cc.....


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Guest usctrojanalum

I would google 'right of setoff' and look into it but I'm pretty sure under Federal Law they are prohibited from taking money out of your checking/savings accounts to pay a past due credit card. If I recall correctly right of setoff only applies between bank accounts, i.e if you had a checking account overdrawn by $400 but you had $1000 in a savings account, they are allowed to take $400 out of savings to pay off the overdraft.

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I wouldn't take the risk. I would open an account elsewhere. I even had one bank send me a letter saying if I had a house or car financed with them, they could take the house or car to satisfy an unsecured credit card debt. Not sure if that's legally correct, but that's what they said.

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I wouldn't take the risk. I would open an account elsewhere. I even had one bank send me a letter saying if I had a house or car financed with them, they could take the house or car to satisfy an unsecured credit card debt. Not sure if that's legally correct, but that's what they said.

wow :o:o

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All of your business and personal banking relationships with bofa have language in the respective agreements which will allow bofa to take money out of any personal or business account to settle an outstanding obligation to bofa. You won't even be able to cash a check. You can not deposit, you can not cash a check. You can't even negotiate a draft on bofa if you owe them money. You may be able to cash a check drawn on bofa. However if you put that money in your brothers account and you happen to be a signer on that account don't be upset of bofa takes what you owe them from your brothers money market or trust or business checking account. Wells is the same way. You may not get hit but why take the chance. If you owe $2,900 don't deposit a grand an expect the best.

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Perhaps a different angle on off setting; So, contractually a customer has consented and the creditor failed to utilize, thus acquiesced, to the aggrement. This inactivity could be considered a failute on the creditor to act when provided the opportunity; thus contributing to doubt of the validity and credibility of a claim and diminishing the level of preponderance of evidence presented inorder to move for a summary judgement.... maybe?

Off setting ones account would sure have an attention getting punch; similiarly too garnishment in a post judgment. I propose that this is a strategy worth pursueing....

So go ask yourself WWPD, what would Perry Do? by the way,

"In the Senate Judiciary Committee confirmation hearings of Sonia Sotomayor, Supreme Court nominee, during questioning by Senator Al Franken, Sotomayor said that watching the series had made her want to grow up to be a prosecutor. Franken noted that the prosecutor lost all the cases on the series but one." http://movies-guide.net/tv-shows/police-tv-shows/perry-mason-tv-series/

Edited by PERRYMASON
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