Savings Account Transfer to Pay on Balance of Credit Card
Date: Tue, 11/07/2006 - 22:43
I got a statement from a JDB who sent a copy of a statement with my name on it. The statement shows a payment was paid and this statement was posted as explanation, "Sav Offset Crdt Purch Bal"
All I can figure out is, I had a savings account and they used it to pay on the account. I KNOW the last payment I made was 7 months prior to this date shown. Are they trying to re-set the SOL?
Maybe this debt they can't/won't validate and verify, IS NOT MINE???
SOL is used as a protection from any legal actions in the court.
SOL is used as a protection from any legal actions in the court. After the statutes expire, the CA cannot take you to the court. You can still do the payment after the SOL expired.
Ask them to validate the debt, it is your right and then pay it off.
The SoL doesn't restart. How would they get your savings acco
The SoL doesn't restart.
How would they get your savings account information without you giving them the information?
But not legally without permission from the debtor.
But not legally without permission from the debtor.
It's usually in the fine print somewhere, that says something li
It's usually in the fine print somewhere, that says something like "You agree that any monies or deposits being held in any other account of this institution, may be used as a credit to offset the balance on this account upon default."
I just got off the phone with my bank about this same mysterious
I just got off the phone with my bank about this same mysterious "Sav Offset Crdt Purch Bal" thing. Is your bank one of the ones being bought up at the moment? If so, that's where it's coming from. I personally had a secured credit card, and then the new bank bought my account, they forgave the remaining debt and are actually sending ME the left-over money from my initial deposit. So, all that "sav offset" crap is banks shuffling money between banks.
