changingmyways33: Credit Card “Right to Offset”?
Will Bank of America debit my checking account since I settled with them to payoff my credit card with them? I want to keep it open but I am scared they might try to get more money that I can not afford.
I have a BofA Checking, and a BofA Credit Card. I was unable to pay the credit card on time, so it went into collections. I was able to arrange a Credit Card Settlement with them that will be paid off at the end of this month. I do not want them to debit my checking account in the future if and when I am able to restore my financial situation. Can a BofA debit my account later to get all the money they were owed?
Answers and Views:
Answer by kahluah76
Please elaborate this question doesn’t make any sense.
The settlement on your credit card balance was an agreement, and you likely had to sign a form for it to happen so that should be the end of it.
The only way the bank could take your money, from checking or savings, would be if you signed an agreement for them to do so or if they had a court order to debit your account.
Always read the fine print 😉
Good luck!
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