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savings account used by credit card company to pay the debt

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dream123


Reclusion Temporal
hi atty.

is it legal for the bank/credit card company to use or acquire the money on my savings account to pay my debt?

they sent me a letter saying that they will get my savings from their bank if i wont be able to pay my credit card already due

thanks!

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attyLLL


moderator
if it's not the same company, i would argue that they don't have the right. but if it's the same one, then it is legal.


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dream123


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how about my payroll account? yes, it's the same bank.

thanks

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attyLLL


moderator
yes, they have the right to do it. a deposit considered a loan of the bank to you. they can compensate that with your credit card loan.


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Warning and Disclaimer: I am not your lawyer; and you are not my client. With the limitations of an  Internet forum, a thorough review of your concern is not possible. View my comments at YOUR OWN RISK. It is best to actually retain a lawyer for your individual concerns.
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