if you have a debt on your credit card, can the card company take money from your current account without authorisation?
2007-03-22 05:02:01 · 15 answers · asked by david s 1 in Business & Finance ➔ Personal Finance
sorry forgot to add - would anyone know what to do?
2007-03-22 05:06:26 · update #1
and there has been no correspondence from the cc company
2007-03-22 05:07:02 · update #2
The short answer is No.
However, it could be that at the time of application you instructed them to coolect the monthly minimum amount from your current account. This is very useful if for some reason you forget to pay the minimum as the Credit Card company will add a no or late payment fee.
If you have not given any such instruction or if you have revoked a previous instruction then they have broken the law.
Hope this helps.
2007-03-22 05:12:21 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The only way that a CC company (or anyone, outside of the government) can take money out of your checking account is if you authorize it. That usually takes you going to your bank or going on line to authorize the transaction.
If you set up with the CC company to debit the entire account balance accrued at the end of the statement period, the CC company can take the money out of your checking account (because you have authorized it).
2007-03-22 05:13:49 · answer #2 · answered by Pete S 4 · 0⤊ 0⤋
No not unsles you have a direct debit set up. If there is an outstanding debt they may weite to you via a deb collection agency though and demand money
2007-03-22 05:05:41 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It depends on what your credit agreement states. Sometimes you grant a permission to take money from your check account in such credit agreement.
2007-03-22 05:19:17 · answer #4 · answered by mfacio 3 · 0⤊ 0⤋
They can't access your accounts without your permission...Unless you have defaulted on your debt and they have reported it to a collection agency...the collection agency may try to get you to pay but if you refuse to pay..then there is still a long process for them to be able to get paid....
2007-03-22 05:07:12 · answer #5 · answered by Curiously 5 · 0⤊ 0⤋
NO unless you have a direct debit from that current account
2007-03-22 06:52:01 · answer #6 · answered by Anonymous · 0⤊ 0⤋
No way. its your money, no one has a right to remove it without your specific authorisation.
2007-03-22 05:05:16 · answer #7 · answered by beanie 5 · 0⤊ 0⤋
simple answer no. there are a number of ways in which they can pursue you for the debt but believe me theyll tell you first
2007-03-22 11:00:43 · answer #8 · answered by Anonymous · 0⤊ 0⤋
No, absolutely not. However, perhaps though if you have your curent account with the same bank, they may be able to.
2007-03-22 05:10:06 · answer #9 · answered by dogterhoo 2 · 0⤊ 0⤋
Yes, they can and do. Whether it is legal or not is a different matter.
2007-03-22 05:06:57 · answer #10 · answered by Barry Von Leotard III 3 · 0⤊ 2⤋