Bank of America took $3000 out of my checking account without telling us! (page 4)

isaacaustin

Your comments have stuck out like a sore thumb here. You commentary was not requested and not helpful in any way, except to try to make someone going thru hardship feel worse.

Lovedubs, I am sorry for what has happened to you. From ememory I do beleive I actually once read somewhere about this scenario...and the bank claimed the right to do what they did. I am not sure if it is legal though. Obviously the bank will claim it is legal. Definitely consult an attorney. I would not think a creditor can take you money unauthorized- even if it is owing them and in their bank. But as far as these legal technicalities I know nothing.

I wish you the best of luck.

BurnTheShips

It is perfectly legal for a creditor to seek out funds if you owe them money and are delinquent. That goes for any creditor. If you go to small claims court and win a judgement against someone, you have the legal right to "hunt" for their liquid assets and seize them to satisfy the debt owed. That is why if you are in financial trouble you STOP paying with checks, keep only minimal amounts of money in the bank and start paying everything in cash or with a money order. AND NEVER give a creditor your checking account number and routing information over the phone to make an electronic payment. They can, and will empty your account if they feel you are going to bale on the debt. It may seem "insensitive", but that's the way the game is played. A creditor gives you money because you promise to pay. When you stop paying, they aren't going to forget about it; they are going to get their money any way they can.

If they have a legal judgement they can also try to garnish wages, even if the accounts are empty.

BTS

Dorktacular

Yes, they can try to garnish wages, but only after a judge gives the OK. Even then, garnishment is appealable, kind of like child support payments. And, under garnishment, they can't take your whole paycheck. I forget what the maximum percentage is. But, they can, and will take your entire bank account. They usually wait until your direct deposit goes in from work, and then blammo! Your account is toast.

Robdar

Salcoltan:

1. Get your lawyers name and phone number.
2. When a creditor calls, tell them you are filing bankruptcy and to contact your lawyer. Give them the name and phone number of your lawyer.
3. They can not harass you after you have told them. It's the law! If they do continue to harass you, write it down and give it to your lawyer. Get the name of the person you talked to. They have to work with your lawyer, not you.
4. Stop paying any bills (credit card, etc.) Most medical bills are not covered in bankruptcy.

The b/k attorney I work for said that you should not tell your creditors, especially the bank, that you are going to file for bankruptcy. You can see what happened to LovesDubs when she told BOA.

And your creditors can harrass you UNTIL you file for bankruptcy protection. After that, it is a violation of the Automatic Stay and you can sue.

The attorney also said that the Chapter 13 Trustee can file suit for you against BOA and reclaim the money; however, he will use the funds to pay your creditors.

Good luck.

funkyderek

isaacaustin:

Your comments have stuck out like a sore thumb here.

I don't generally follow the crowd.

You commentary was not requested

This is a discussion board. Anybody who begins a thread here automatically invites commentary. They do not have a right to only receive comments they agree with.

and not helpful in any way, except to try to make someone going thru hardship feel worse.

Not at all. It may be too late for LovesDubs but many other people would be well advised to understand the necessary relationship between income and expenditure. Borrowing money one cannot afford to repay is foolhardy even if in times of economic boom it can be easy and even profitable (until the bubble bursts). Trying to weasel out of paying debts by declaring oneself bankrupt is unethical and it should come as no surprise if one's creditors do what they can to recover their money first.

isaacaustin

funkyderek

I understand you points but perhaps the timing was little off to try to make an example of someone going thru this. Just think about that. Enuff said. Issue over. We're cool. Let's drop it.

Dorktacular

That is absolutely right: you don't tell anyone you're going to file. Your creditors will go into hyperdrive trying to do anything to get whatever they can. The first clue that you've filed for bankruptcy should be the notice to the individual creditors from your lawyer. After that happens, tell them to all buzz off and never to call you again.

Also, after you've been to court and your bankruptcy is declared, beware of creditors trying to get you to "reaffirm" the debt you've just finished getting discharged. They will be right there at the courthouse waiting for you. Do NOT reaffirm the debt. They will promise you that you will have a line of credit with them and that it will help your credit, but it will not. When you pay them off, they will lower your credit limit to $0.00 and the debt will still be listed as a charge off or included in the bankruptcy. It won't help you other than making you feel better about paying them back! LOL

KW13

loves dubs, i know what its like for money to be taken at just the wrong time (if there is a right one). worst thing is, there is no talking to the bank, they take what they want when they want and expect you to deal with the consequences, i hope things work out for you

SixofNine

It is worrisome if Bank of America can step to the front of the line of all creditors to seize your assets, simply because they have your assets in their bank. In essence, they seem to be saying that this unsecured credit line they've extended, is *surprise* in actuality a secured line of credit, against any assets in your BOA checking or savings account.

I know I didn't knowingly sign up for that when I opened my BOA checking/savings account.

This is probably a gift from that corporation fellating bankruptcy bill that was passed a few years ago.

If you let extremely wealthy people run your country, and make your laws, who do you think those laws are going to benefit?

BurnTheShips

This is probably a gift from that corporation fellating bankruptcy bill that was passed a few years ago.

That bill was terrible!

BTS

Bank of America took $3000 out of my checking account without telling us!

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