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Savings Account Transfer to Pay on Balance of Credit Card

Date: Tue, 11/07/2006 - 22:43

Submitted by anonymous
on Tue, 11/07/2006 - 22:43

Posts: 202330 Credits: [Donate]

Total Replies: 7


If a savings account transfer is used to pay on the balance of a charged off credit card, without the card holder's permission, does this restart the SOL?

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???


If the credit card account and saving account are with the same bank, funds can be taken from one to
pay on other.


lrhall41

Submitted by on Mon, 11/13/2006 - 12:52

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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.


lrhall41

Submitted by on Mon, 02/02/2009 - 15:43

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