Got inover my head on a credit card and it went to a charge off and collections. I know, bad. I’m scared to open a bank account of any kind so that someone can swoop down a taken what little I have?
Related posts:
- If You Have An Account With Suntrust, Can You Create A Savings Account Over The Internet?
- How Do I Open Up A Savings Account?
- Why Would Someone Get Denied A Savings Bank Account Because Of Credit?
- Where Can I Find An Online Savings Account?
- I Need Ideas On What To Do Or How To Approach A Joint Savings Account?
NO! Collection agencies have no right to take money from your accounts unless you give them permission. Don’t EVER give them permission! Never give them checks by phone or your account numbers. Just pay them something, anything. You don’t have to pay the full sum all at once. They can’t refuse even the smallest amount as long as your paying them something every month. But beware they will try to hassle you into paying it all & say that they can’t accept smaller payments. This is untrue & just a ploy. Hope this helps!
They can’t do it without a court order and that is very, very rare.
Morality police is out again…;(
Collection agents can not directly take money out of your account or garnish your wages. They must first go to court, get a judgment, and get a court order to do that.
The only way they can do this is if they first take you to court and get a judgment.
At that point yes they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own like homes, cars, boats and land.
This is the last thing they want to do because it is very expensive and takes time, but they do have that right.
Some people just can’t handle reality and have no moral.
You owed, you pay. Simple.
No wonder interest rate is so high because some people just don’t pay their bills.
If you can’t pay some money each month to this debt, go to a credit counselor. They’ll negotiate an affordable payment with low or no interest.
Don’t just ignore this debt or they’ll go to court and your wages could be garnisheed. They’ll definitely take far more each month than the amount a credit counselor will arrange.
I’m sure they can’t take money from your acct., but they can get a court to order it be done for them. Use a safe deposit box until you get payments on this debt sorted.
GL
If you can afford to open a saving account, why not call the collection agency and make arrangement to pay them back?. This debt will not go away until it gets paid.
They may not be able to take money out of your account but they can take you to court for the money you owed. When the judge finds out you have money in your saving, he/she’ll tell you to take the money out and pay the collection agency anyway.
If you own a home, they can put a lien on it. No matter what you try to do, they will get their money somehow. Everyone paid their credit card bills, why can’t you?