BofA garnishes customer checking acct.

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Jennifer
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BofA garnishes customer checking acct.

Postby Jennifer » Sat Jan 24, 2009 1:23 pm

I am in total shock! My daughter has 3 checking accts. at BofA...one business and two personal. She also has 3 Visa credit cards for these accts. One of her BofA Visa accts. was 3 mos. in arrears. She made a large deposit to her checking acct. last Monday, and BofA immediately withdrew funds from her acct. to cover the 3 minimum past due amounts from her credit card!

This is turn caused several of the checks she had written to BOUNCE! She was overdrawn...unbeknownst to her!

My question is...can BofA or any other bank legally take overdue credit card payments out of one's checking acct? I have NEVER heard of anything like this...unless a judgement is enforced and a lien placed on the acct.

Any comments would be appreciated.


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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jan 24, 2009 3:56 pm

Normally this would (and should) be illegal. You said though that the credit cards were also through B of A? Has she ever paid her credit card bill electronically using an electronic withdrawal from her checking? Was this withdrawn from the business or personal checking?

What I think happened here is that she unknowingly agreed for B of A to do this in a scenario like this. Either it was in the fine print on her credit cards, her checking account, or if she ever used the electronic payment she might have unknowingly agreed to it. B of A is huge and you can bet their bean counters and attorneys spend all day thinking up tricks like this to sneak into the fine print.

I totally agree this should be illegal to. You could try calling them up (either checking or credit card customer support) and ask them flat out what gave them the right to do this. If you to report back here what they claim and we'll go from there.
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magyar1045
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Postby magyar1045 » Sat Jan 24, 2009 7:35 pm

That fine print crap that is included in those account disclosure novels should just be 5 simple words - We will f*** you over.

magyar1045
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Postby magyar1045 » Sat Jan 24, 2009 7:39 pm

One more thing - warning to evweryone - don't EVER have a checking/savings account in/with the same bank that you have your credit card with.

DGenerateKane
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Postby DGenerateKane » Sat Jan 24, 2009 10:22 pm

magyar1045 wrote:One more thing - warning to evweryone - don't EVER have a checking/savings account in/with the same bank that you have your credit card with.


I've had a credit card issued by my bank for almost 5 years and never had any problems.

KC95
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Postby KC95 » Sun Jan 25, 2009 3:51 am

why is it bad to have a CC with the same place you do banking? the reason she got into trouble was she went 3 months not paying her credit card bill. thats not one late payment or two but a whole 3 billing cycles.

sorry to say it how it is but if she thought she could go months without paying her CC bill and nothing would happen thats naive. can it really be that shocking that heaven forbid they took action against her? and that large deposit in checking she should have been planning on using to pay her credit card bill with regardless so she should not be ticked about it going towards that.

i don't get why some thing its not alright to shoplift or steal someone's wallet but flaking on your credit card bill is okay. that's stealing no matter what excuse you make.

magyar1045
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Postby magyar1045 » Sun Jan 25, 2009 2:55 pm

KC95 wrote:i don't get why some thing its not alright to shoplift or steal someone's wallet but flaking on your credit card bill is okay. that's stealing no matter what excuse you make.


Please get off the "moral sermon". It's not the same.

Jennifer
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Postby Jennifer » Sun Jan 25, 2009 3:57 pm

Mogul of Pineapples wrote:Normally this would (and should) be illegal. You said though that the credit cards were also through B of A? Has she ever paid her credit card bill electronically using an electronic withdrawal from her checking? Was this withdrawn from the business or personal checking?

What I think happened here is that she unknowingly agreed for B of A to do this in a scenario like this. Either it was in the fine print on her credit cards, her checking account, or if she ever used the electronic payment she might have unknowingly agreed to it. B of A is huge and you can bet their bean counters and attorneys spend all day thinking up tricks like this to sneak into the fine print.

I totally agree this should be illegal to. You could try calling them up (either checking or credit card customer support) and ask them flat out what gave them the right to do this. If you to report back here what they claim and we'll go from there.


Thanks for your input, Mogul!!! I think you're right about the fine print! No one ever reads it, including myself. My daughter uses both online banking and inter branch banking...so it could have been happened either way. I know what you mean by all the little bean counters and attys! They don't miss an opportunity to rip off their valued customers...who now have to bail them out with TARP!

Willl keep trying to get to the bottom of this...and let you know if there is anything illegal going on here!

BTW...she is a long time customer, and this was the first time she was ever late on any of the cards...which makes it even harder to justify!

Thanks again,
Jennifer

Jennifer
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Postby Jennifer » Sun Jan 25, 2009 3:59 pm

magyar1045 wrote:That fine print crap that is included in those account disclosure novels should just be 5 simple words - We will f*** you over.


LOL!!! I agree!!!

KC95
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Postby KC95 » Mon Jan 26, 2009 2:03 am

hey stealing is stealing! you could argue the interest sometimes is a scam but at least the principal amount you borrowed you owe fair and square.



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