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    CC & bank account

    I always paid the bills online from my checking account. NOT automatic pay, signed in to pay each month.
    Can they take the money out of the checking account?

    #2
    i am assuming you DONT have a judgment....if thats the case and you use your banks bill pay system...they shouldnt be able to take money from your acct....AS LONG AS NO CREDITOR is affiliated with that bank...i was told by bank personnel that using bill pay is the safest way to ensure creditors dont get your personal banking info..as they dont give your checking acct number out when they pay.....

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      #3
      I meant I sign in to the credit card sites. They have all the bank info.

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        #4
        Originally posted by digginout View Post
        I meant I sign in to the credit card sites. They have all the bank info.
        Unless the bank and the CC are related, they cannot go inot your account and pull out funds.
        Now if you have payments set up on auto pay then you would need to cancel that.
        CCs cannot just go and pull funds out of your accoutn from a bank they are not affilliated with, those have what is called cross collaterial.
        Now if they get a judgement against you then yes they can levie your account, but not unless they have a judgement and that requires a hearing and you being served and given notice of the hearing....

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          #5
          Credit union, car loan and visa card help?

          oh, boy. I have a Visa Credit card through my credit union where I have a car loan (recently extended to two years so the monthly payment would be one-third of previous), a savings (pay the car loan through this acct.) and a checking acct.

          I stopped paying the credit card a couple of months ago, have kept up with the car payments and only have a small balance for EFTs in the checking acct.

          Can anyone tell me: can they grab the car for the credit card balance?
          car = $2400 loan value of car = $6 -$8,000 (kelleybluebook)
          credit card = $6,000+

          I have not started the BK process; am unemployed and owe another $10,000 in cc debt, Capitol One and a BofA Visa.

          Thanks for any guidance or experience!! Ali

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            #6
            If the checking, car loan and CC are all through the same bank or CU, then if I understand correctly what I have read and been told yes they can withdraw the funds from that checking account to satisfy the other loans.

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              #7
              I would be careful with credit unions, if I'm 10 days late on the car payment they will place a hold on the checking account.

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                #8
                worried about car

                I keep minimum in checking and savings, just enough to pay some automatic EFTs like AT&T, gym, car insurance. Am thinking to start a new checking acct somewhere else? or go cash only? pay bills with money orders?

                Mostly, I am concerned about how quickly they can move to get the car.

                Guess I better start filling out those papers!!

                Ali

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                  #9
                  restricted debit card

                  The Credit union has restricted my use of a debit card. I am going to try to use the ATM card, which I haven't used in quite some time. They have contacted me by phone, but I am already wise to not answering phone numbers I don't recognize. I got a letter today requesting that I contact them/ work with them suggesting they will declare me in "default, demanding payment of the balance in full, repossession of any collateral, and pursuit of stronger collection actions."

                  The "repossession" statement has me worried; read once about credit unions and cross-collateralization?

                  Some of the posted dates of BKs by some of you seems that it doesn't take long? Are these simple ones? No house, no income type of BKs? Can this really only take 3-4 months once filed?

                  Ali

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                    #10
                    Do not let any money go into those CU accounts unless you are willing to take it out back and burn it. That is what you will be doing.

                    They have the legal right to take ALL funds in your accounts for cross-collateralization, to pay themselves for your defaulting loans.

                    I cannot speak to car repo's. No experience there.

                    The CU can also overdraft your accounts to their limit and try to charge you for this. If yu are filing BK this is really no concern, but you should be aware of it. Not all CU's do so, but the percentage is high enough to make it worth mentioning.

                    It is very unlikely they will let you close these accounts, too, for the same reasons as above. They have you over the rope, legally, until you file. Anything you let pass into their hands will magically disappear.

                    Good luck, I hope it all works out in your favor.
                    11-20-09-- Filed Chapter 7
                    12-23-09-- 341 Meeting-Early Christmas Gift?
                    3-9-10--Discharged

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                      #11
                      I'm brand new to the BK forum so please do your own research. But, if I were you I would call the credit union and see what kind of arangement I could work out. It just might buy you some time.

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                        #12
                        if you are stiffing a credit union OR bank for a cc...and for some reason you cant file bk.....and have ANY money going to that institution for ANY reason....and think that they wont take it...you are sadly mistaken....there are countless posts on this forum from people that thought their money was safe.......WRONG........

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                          #13
                          Thanks to everyone who replied -- I will get my money out post-haste.

                          Great resource. I will be spending the weekend working on the income statement to see whether a paralegal will handle my pro se filing or whether she will recommend a lawyer. I can get help with a reduced rate based on income.

                          Ali

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                            #14
                            Many credit unions have a blanket policy on your accounts... as with any bank- they tend to take funds first then - it is up to you to fight it.

                            I had a bill payer go wrong. $500 in NSF fees. Including my house payment- where I was paying principle, in addition to the payment. $1 -$5 and so on. Well- the mortgage got mad- and said no more- we must have cashier checks only. I did get it resolved with the mortgage people- but still had to pay massive fees.

                            The kicker is- the bill payer brokerage account- had $3,000.00 in it!!!!
                            Discharged- pro se- chapter 7~!

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                              #15
                              When you file BK and automatic stay goes into place, doesn't that stop them from touching your checking\savings accounts at the bank or CU? Am I wrong to think that they can only get that money prior to BK? If an account is IIB doesn't that mean that can no longer collect on it during the automatic stay or obviously after discharge?
                              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."

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