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Can a credit card company take money from your bank account to pay a debt?
Wiki User
∙ 12y ago
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 substantial..like 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?
Wiki User
∙ 12y ago
Add your answer:
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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 cash in the bank mean?
It means you bank account is in credit, you have money to spend.
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.
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.
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.
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.
How does a company get your bank account information?
Credit report?
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.
Does amazon accept money from bank account?
Yes, Amazon accepts money from the bank account via the credit cards.
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
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.
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.
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.
What does cash in the bank mean?
It means you bank account is in credit, you have money to spend.
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.
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.
