Credit and Debit Cards
Debt Collection

Seize bank account for credit card debt?


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2014-07-03 19:39:44
2014-07-03 19:39:44

If your bank account has been seized because of a debt you owe, you should call and work out a payment arrangement with the creditor. You should also start a new bank account.

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Related Questions

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.

If the bank is the one that has the credit card, they can associate the card with the account. This might be a violation of regulation E. However if the bank and the card issuer are not the same, they have to get a judgment and then go to the bank with that.

checking from bank fund & credit card prepaid by credit

Maintenance of an account in the bank which has issued the card is not a pre requisite for applying for a credit card. Having an account with the card issuing bank is essential for debit cards. Nandkishore Sharma

No, a credit card is not needed to sign into Bank of America. One can have a checking account, a savings account, or other business with Bank of America without having a credit card.

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.

A "credit" card is a credit card.A prepaid credit card (secured) is not tied to a bank account and therefore while, like a debit card, you can only spend to the amount it has been loaded with (it will not provide credit), it is not a true debit card which IS linked into a bank account.

It depends on who's credit card. The numbers are your bank account, the date the credit card is validated for.

A credit card number is a unique representation of a network (credit card network), a bank (issuing bank) and an account number (specific to account holder) combined to represent a unique representation for an individual with credit.

No - in most cases. As long as the credit card issuer can determine your credit worthiness, it doesn't matter where your bank account is. There is one exception. If you apply for a secured credit card, you must keep a 'security deposit' of a certain amount in the institution chosen by the credit card issuer (usually their own bank).

It's a debit card since the money you pay with is directly transfered from your bank account to the receiver's bank account.

no but u have to add a credit card or bank account to it

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.

In principle you can; you can get a cash advance from a credit card and use that to pay off the bank account, the problem is that the interest from the credit card is likely to be higher than the bank charges. It's probably best to try and arrange a loan with the bank.

A merchants account credit card is a special type of credit card that is issued from a merchant acquiring bank. These credit cards allow a vendor or business to accept payments from customers using a credit card.

Take it to the BANK YOU have an account at

yes. like having a CIBC account in Canada can help you to get a credit card from Bank of America, what you have to do is to open an account in Bank of America and transfer your paychecks for deposite directly into your bank account.

First Convenience Bank offers credit or check card (mainly known as a debit card) to their customers. The credit card is a MasterCard and is linked to the owners bank account.

Either in person at a branch of your bank - or by bank transfer from your account ot the card company's.

You can go to a local bank and they could offer you a credit card plan especially tailored for the need of students like you. If you already have a bank account, they can tie in your account with a credit card plan and this would be the best move so you can easily pay your credit card bills.

The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.

w a credit card or bank account

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