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.

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.

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

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.

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Originally Posted by 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.

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

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?

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Originally Posted by rbush

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

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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.

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Originally Posted by 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?

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Bank of america

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 paid off their cc account with them and moved their accounts to another bank. I quess all banks can and will do it

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

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Originally Posted by rbush

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.

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They can garnish your wages in some states, however, it is a long process and takes a court judgement before they can garnish. You should call your creditor early on and see what they recommend. Ask about their hardship program or any debt management company they may recommend. I'm having some difficulties and I've stayed in close contact with my creditor and they have actually asked me to contact a debt management company they recommend. However, I'm planning on borrowing against my retirement account and settling my debt for a "fresh start". I'm also selling my home in the spring and hope that with the money from the sale I will finally be out of credit card debt. The next six months will tell the story.

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Originally Posted by rbush

bank of america

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Bank of America is very consumer friendly, this is my biggest creditor and so far they have been very helpful. A lot of times, after 120 days or more, they will settle for a lesser amount, sometimes as low as 20% on the total debt. They would rather get a piece of the pie than no pie. Start saving now and try to settle the account after 120 to 150 days - at 180 days they chargeoff and then a collection company or a lawyer takes over, so prepare now if you can.