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The laws vary from state to state but i believe they can after suing and getting a judgment against you. I have "heard" they only sue if the amount of debt is more than a few thousand dollars because of the cost of lawyer and other associated costs. They should have to notify you before suing but again that might vary from state to state. Anybody else "heard" anything different?

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โˆ™ 2011-09-12 14:41:32
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Q: Can a credit card company take money from your bank account to pay a debt?
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Related questions

How does a company get your bank account information?

Credit report?

Why is the balance as per bank statement on the bank reconciliation statement a credit if its a favorable balance but in the bank account the credit means you owe the bank money?

The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.

Does amazon accept money from bank account?

Yes, Amazon accepts money from the bank account via the credit cards.

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.

If someone dies with 10K in credit card debt and has bank account does the credit card company get the money?

Yes, they are a creditor that can make a claim on your estate.

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.

Does Credit mean the increase side of an account?

what do you mean by increased side? it depends on which account you are talking. in bookeeping entries of a company a credit on its bank account means money going out the business. in a reserve account it means money being added to the reserves! If on the other hand you are talking about a bank account (personal) this normally means depositing.

What does it mean when a credit card company charges your account off?

that probably means you've used up all the money on your account. or your in the negative, which means you owe the bank money

What does cash in the bank mean?

It means you bank account is in credit, you have money to spend.

When you add money to your bank account is it debit or credit?

It's a credit. When you take money out - it's a debit.

How online mobile recharge card works?

Most of them work by being linked to a bank account. You call the phone company, tell them how much credit you want on your account, and the money is transferred from your bank account to theirs.

How do you transfer money from your bank account to your french bank account?

There are three ways. 1. There should be a bank in France (if France is where you are talking about) that you will have to give them your money and they will convert it into french money. 2. If you have a credit card, you might have to call you credit card company to tell them that you would like to transfer your money to france. 3. If you have cash, bring it to your local bank and see if they can convert it into french money or convert it into french money into a card.

What is direct credit?

direct credit is money transferred from 1 bank account to another.

Why do funds paid into your bank account appear as credit entries on your bank statement?

The funds are a credit to the bank that is issuing the statement. They "owe" you the money, therefore the 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.

Should you give your bank account number to your credit card company?


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.

Does a credit card company have the right to attack your bank account?

Nope, unless your bank is the one you have your credit card with and even then if you send in writing to the company a request to contact you before debiting your account for a disputed charge to your account. Hope that helps.

What is creditor account with debit balances?

A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.

Can you pay for games online with cash money?

No, it requires a bank account or credit card. You can't mail an envelope of cash to the game company.

How do you send money from credit card to another bank account?

You can ask for a cash advance into your bank account as long as your credit card allows cash advances. When you call the credit card company to do so be sure you have the routing number and account number of the account you want the money to go into.Alternatively you can do that through western union although I do notrecommendthat way if it can be avoided as the cost last I looked was anywhere from $13-$25.

Can bank take money from one account to pay into another?

If I'm a signer on my mom's bank account can a bank take her money to pay my past due credit card balance?

What does bgc mean on a statement?

It stands for Bank Giro Credit. It generally means that a company has transferred money into your account via BACS or a government agency has paid benefits into an account.

Can a credit card company garnish your business bank account?

Credit card companies can't just seize people's money, but they can file a lawsuit to recover unpaid debts, and if a court orders it, money can then be seized.

Can you open bank account with bank of America in Philippines?

yes you can open a bank account in any bank as long as you have a credit card or money. So a bank of amarica, as long as there is one in the philippines then you can make a bank account.