Financial Information
UNPAID CREDIT CARD DEBT WITH B OF A..THEN SUDDENTLY NO MONEY LEFT IN YOUR ACCT !!!?
Question : UNPAID CREDIT CARD DEBT WITH B OF A..THEN SUDDENTLY NO MONEY LEFT IN YOUR ACCT !!!?
Just heard from a friend of mine who has unpaid credit card debt with Bank of America. A while ago when he checked his personal checking balance the balance was 0 !!!!!!!!!!! Can this be real ????? What’s going on ?? Has this happend to anyone ??
He called Bank of America and their response was ” Sue us”
If this is real Im going to close my B of A account ASAP.
unpaid credit card debt
Best answer:
Answer by My Take on It
Wow!
Seems though, that he may be leaving a chunk of the story out of his rendition of what happened. Did they sue him and get a judgment and are attaching his bank account?
I highly doubt they can just take from a bank account without having a judges permission or without him having had this account set up to be directly debited at some point to pay the bill.
-
-
#3 written by EF 1 year ago
I am assuming that, according to your friend’s story, the Bank of America withdrew the payment from his bank account without his authorization. If the bank account is also with Bank of America, their rights to do so depends on the specific fine print in the credit-card and bank-account agreements, but most likely they can do it. If the account in question is with another bank, then they cannot do it and they commited a bank fraud–unless your friend accidentally signed something that gives them that right. If the bank from which the money is withdrawn is not Bank of America, your friend should notify the bank of unauthorized transaction and ask for an investigation.
If a representative of Bank of America really said “sue us” and refused to discuss it further, I would gladly follow his/her advice. I had problems with an MBNA credit card a few years ago (before MBNA became part of Bank of America), and I in fact sued them and won. It is not terribly complicated and I did it without a laywer–the arbitration procedure is detailed in their fine print. (In my case, however, I did not have any unpaid debt–I had a dispute on the issue that was clearly their fault.)
As a side note, Bank of America is not a particularly customer-friendly bank and it is known for causing minor problems–so switching to another card may be a good idea regardless of whether your friend’s story it true. From my own experience, I can recommend CapitalOne as a reasonably good credit-card provider. Small local banks are also often a good choice–they tend to be more personal and customer-friendly than large ones. Note however, than even nice credit providers get rather nasty in case of an unpaid debt–so paying at least the minimum on time is a very good idea.
-
#4 written by Hunks_By_Hoss 1 year ago
Rae is correct. This is the case with ANY bank in the US. They can “call the loan” and take it at any time, especially if the debtor is in default.
I would be more concerned with your “friend”not being a deadbeat and not paying their bills, than trying to fraudulently hide your money from someone he owes money to….
-
#6 written by Rae 1 year ago
They can take whatever they want if he owes them money. for example..Say you are on a loan with someone at X bank and you have a account with X too. Say the other person is supposed to be paying the loan and defaults on it. X bank has “the right to cure” and can take money from either of your accounts in order to satisfy the loan. It is perfectly legal.
- Comment Feed for this Post
if your account is with boa, then i’ve heard they can do it, it’s like child support where they confiscate your money to pay off the kids..
they are conficating it to pay off the debt, but they have to go through a whole legal process and send it to a debt lawyer to even do it. call a debt laywer and ask them to make sure, each state is different,