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Should i give bank information to debt collector?

Date: Tue, 11/27/2007 - 20:34

Submitted by anonymous
on Tue, 11/27/2007 - 20:34

Posts: 202330 Credits: [Donate]

Total Replies: 12


Should you give bank information to debt collector?
What can they do with bank account information?

I am talking to a law firm to pay off a old CC debt from Chase.
I am willing to pay all in 2 weeks.
They are asking me for a check by phone to be able charge me 12/15.
I do not want to give them my bank information and want to pay by western union,they refused and ask for my informations if not they will pursue with a lawsuit.

Tx for your advice.


ummmm...no!! I wouldn't. Ask them if they will take a credit card for payment. Because you can get a visa gift card or a prepaid charge card in the amount that you are settling for. This way they can only take what was agreed upon and not try and take anything else from your account. Or you can go to your bank and ask, I believe they can transfer the money for you without giving out your account info. I remember someone talking about their bank doing that for them. But if they will not accept any other from of payment then send them a moneyorder and contact your state and file a complaint. I know others will be along to give you other ideas also. So hang in there. I told a CA once (last week) that I do not want to give out my bank account info because of having to close my other one due to fraud. And at my credit union the visa gift cards (used just like a visa charge card just loaded with a certain amount) they are only $3, where western union and money gram is $15 here.


lrhall41

Submitted by puddlejmpr on Tue, 11/27/2007 - 20:50

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Thank you all for your reply.
Can someone explain me the reasons not to give banking information to collections agencies.

Can they collect money without my approuval?
Can they block my account?
Can they get information from my bank without my approval?
Does the informations given will help them sue me?

Tx for your advice
Pete


lrhall41

Submitted by on Wed, 11/28/2007 - 15:00

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A consumer should avoid giving his or her banking information (or personal check for that matter since it contains the valuable routing and account numbers) because DCs are notorious for debiting the account for more than agreed. In the end, if a consumer does not have the agreement in writing, it's a "he said/she said."

Normally, a consumer will not get very far with the bank if he or she disputes unauthorized debits. Why? Because the consumer gave the account information which can be construed (will be argued by the DC) as consent to debit.

A consumer who uses personal checks rather than postal or banking money orders demonstrates the existence of an asset and may induce a DC to sue.


lrhall41

Submitted by on Wed, 11/28/2007 - 15:16

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Can they collect money without my approuval?
No, all debts both ACH and paper draft requires your approval or a court order.
Can they block my account?
Could you please elaborate?
Can they get information from my bank without my approval?
Not without a court order.
Does the informations given will help them sue me?
Don't see how it would.


lrhall41

Submitted by JCEMT on Wed, 11/28/2007 - 15:54

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