I`m behind on my credit card payments or not making the required minimum payments due to the company I work for is not doing well financially which means I`m not making the money I usually make. Can they do anything to my personal bank account and if so how long will it take them to do so and will I be notified of any actions before hand.

ScottGem

I would suggest reading some of the threads here about this.

At some point your creditors will turn your accounts over to collections. This may be an in-house department or a third party collections firm. They will continue to try to collect, but at some point they will decide to file suit against you. You should receive a summons for a court date. The court will probably enter a judgement against you. At that point, they can attach your accounts and maybe garnish your salary.

If you credit card are at the same bank as your savings and other accounts, they may be able to take that money without notice.

rbush

will i recieve a court summons before than can go after my personal bank account and what if I have a authorized user on my account

ScottGem

If the card and account is in the same bank, then you prabably agreed to allow them to take the funds without notice. If they are not in the same bank, then they have to obtain a judgement against you by taking you to court.

An authorized user has no responsibility for the debt, only a co-signer does.

P.S. Please don't start a new thread with the same question.

rbush

I had the credit card years before I opened the bank account with them

slowandeasy

Hello rbush

It may not matter, if you can't make the payments on your credit card or if it goes as far as a judgement they may well be able to dip into your accounts Is this a bank or credit union?

ScottGem

Again that may not matter. The contract may specify that any account whether opened in the future or not may be attachable without legal action. I would get your accounts out of there.

rbush

bank of america

slowandeasy

I am pretty sure with bank of america they WILL dip into your accounts.

if you get behind on a credit card payment they will take it out of your savings or checking. I personaly do not deal with them but I know of some one who does and when they missed one payment on their cc the payment was taken out of their savings account.

after that my friend payed off their cc account with them and moved their accounts to another bank. I quess all banks can and will do it

Flowerchild1946

Before it goes any father, I urge you to go talk to Consumer Credit Counseling Services. I was in over my head a year ago and they have worked with me to pay off my debt. I pay them x dollars per month and they take care of my creditors.It's going to take 5 years to be debt free and you can no longer use credit cards, but the peace of mind is worth it and you'll be amazed of what you DON"T need. Good Luck