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Can a credit card company empty your bank account if you don't pay?
Wiki User
∙ 8y ago
If you allow a creditor to deduct a payment of X amount of dollars, the creditor will most likely deduct that amount.
If an account is 'past due' and a debtor gives a creditor a number to do a check by phone, the creditor can withdraw the amount of money owed which can cause the debtor to become overdrawn.
You may be able to make a case, stating that you did not authorize that amount but while fighting this your account can still remain overdrawn.
So if you have a past due account, make the payment by money order or cashiers check just to avoid this occurence from taking place.
Wiki User
∙ 8y ago
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Can a credit card company freeze your bank account after a garnishment is ordered even if your credit card was not with that bank?
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
Can you earn interest from a credit card if you have a positive credit account and does the credit company have to pay you interest for borrowing your money?
You cannon earn interest from a credit card if you have a positive credit account. The bank will simply give you a refund if you have overpaid.
What does bank credit mean?
Bank credit has two meanings, depending on the context. (1) If you have a financial account (e.g., checking, credit card, etc.), the bank might credit that account for some reason (e.g., refund a fee). The transaction line associated with that action will likely state "bank credit." (2) The more general meeting is when a financial institution extends credit to an individual or company through a credit card, loan or line of credit.
Is a debit card another name for credit card?
No Debit card takes money straight away from bank account. Credit card makes a debt on card company, not your bank - then later the bank (or person) pays card company, plus interest sometimes.
What is a counter credit or bank giro credit?
A BANK GIRO IS A TERMS OF PAYMENT WHEN OF USING A SLIP PROVIDED BY THE BANK IN ORDER TO CREDIT AN ACCOUNT
How does a company get your bank account information?
Credit report?
Should you give your bank account number to your credit card company?
no
Can a credit card company freeze your bank account after a garnishment is ordered even if your credit card was not with that bank?
Yes, that is the way a garnishment works. When the credit card company sues you for non-payment of debt, they win a judgment. The judgment can be a garnish on your paycheck or your bank account. It makes no difference who you have a bank account with if they were awarded the garnishment by court.
How can I stop the charge when I can't recognize that charge in my credit card account?
Contact your bank or credit card company.
Can a credit card company freeze your bank account?
A credit card company cannot freeze your bank account. However, it can sue you in court for any overdue balance. If the credit card company is successful, the court will issue a judgment lien that the creditor can use to freeze your bank account and seize any money you have on deposit. In fact, the judgment lien can be used to seize any assets you own to satisfy the lien.
What does the company Creditline deal in?
No company named Creditline could be found. A credit line is the amount of credit available to a consumer or business on a credit card or bank account.
A debit or credit memo describing entries in the company's bank account may be enclosed with the bank statement An example of a credit memo is?
a promissory note left for collection
Is an accounts receivable account in accounting a debit or a credit balance account?
It's on the Debit side. A current asset. A = Assets --------DEBIT L = Liabilities -----------------------------CREDIT O = Owner's equity --------------------------CREDIT R = Revenue ---------------------------CREDIT E = expenses --------DEBIT All expenditures in different heads of accounts are debit and all income are credit. for an example, you deposite a certain amount to your correspondence bank. To your company's account register bank account of that certain amount will be debit & your company's account will be credit of that said amount. Credit decreases the normal balance of Office Supplies account.
Can you earn interest from a credit card if you have a positive credit account and does the credit company have to pay you interest for borrowing your money?
You cannon earn interest from a credit card if you have a positive credit account. The bank will simply give you a refund if you have overpaid.
Credit One bank wants a letter from my bank to show that i am an authorized signer on an account that i use to pay the credit card with my bank says they don't do letters what do i do?
Send them a "copy only" of your credit card agreement that you got from the credit card company that won't do it for you.
What is the entry for bank loan account?
Debit Bank Account - Assets Credit Bank Loan Account - Liability
Can i know who is ray Williams in your company. in Swiss credit bank. i need to on line open account the amount 582gbp is true?
i want it who is ray Williams in Swiss credit bank ltd
