Here's is info I've gathered and confuses me about bank accounts.
If you have paid with a bank account, close it and reopen another one, so the credit card companies cannot take money from that account. In one thread, I read a person had 3 or 4 accounts that money was taken from and one was one that was shared with a parent. How can they take from all of those accounts? How do they find out where the accounts are and how are they authorized to just take the money?
Now, I have closed the checking account that I used for CC's and opened another in the same bank. I do not have a CC through this bank. Is this account safe?
I have a savings account with my son, he is a minor. It is his account that we put money in for college. My lawyer said that he can exempt half of it when I file. He also said that I should not do anything to this account, leave it as it is. This confuses me. If I can close a checking, why can I not close this and have my son reopen it in his name only. Also, will the CC companies take the money that is in there. Also, can I take the money from this joint account and pay for braces with it? Or will they look at that funny?
Sorry, for so many questions. The bank account thing, just confuses me a little.
If you have paid with a bank account, close it and reopen another one, so the credit card companies cannot take money from that account. In one thread, I read a person had 3 or 4 accounts that money was taken from and one was one that was shared with a parent. How can they take from all of those accounts? How do they find out where the accounts are and how are they authorized to just take the money?
Now, I have closed the checking account that I used for CC's and opened another in the same bank. I do not have a CC through this bank. Is this account safe?
I have a savings account with my son, he is a minor. It is his account that we put money in for college. My lawyer said that he can exempt half of it when I file. He also said that I should not do anything to this account, leave it as it is. This confuses me. If I can close a checking, why can I not close this and have my son reopen it in his name only. Also, will the CC companies take the money that is in there. Also, can I take the money from this joint account and pay for braces with it? Or will they look at that funny?
Sorry, for so many questions. The bank account thing, just confuses me a little.