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Can creditors see how much $ you have in the bank?

Date: Fri, 09/10/2010 - 07:29

Submitted by scaredycat
on Fri, 09/10/2010 - 07:29

Posts: 9 Credits: [Donate]

Total Replies: 7


Can creditors see how much $ you have in the bank? I set aside $ from each paycheck for my house payment, can they see that? I'm worried that they will try to take it.
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Also when you are saving $ for your settlement, do you take it out of the bank or leave it in there? Any thoughts? Thanks guys!:shock:


I have been taking any little extra bit off the grocery bill or any little amount out because I read somewhere on here that they can wipe out your checking account. That scared me. I have been moving my house payment $$ over to a savings account and then moving it back over to checking to pay for my payment. I'm obviously being paranoid, but we have a large family and it would be devastating to not be able to pay our house payment.


lrhall41

Submitted by scaredycat on Fri, 09/10/2010 - 16:26

( Posts: 9 | Credits: )


With the strict privacy laws there is no way they can check! They would have to take you to court before any judgment would be given.

I worried about this at first so I kept my money in a small safely deposit box in my closet.
It took 10 months before I settle and between saving and selling everything I could, TG I finally settle.


lrhall41

Submitted by Kat1975 on Fri, 09/10/2010 - 18:36

( Posts: 26 | Credits: )


I worried myself sick thinking about getting sued or a judgment, what a waste of energy to do that to yourself!
One day I saw a lexus pulled into my driveway and my heart sank. A man in a business suit got out, now common sense shall told me that no debt collector would come to my door. A deputy sheriff maybe!!!
I am sick and can no longer work so it made me sicker thinking I would have to go to court!

best thing is to stay in contact!


lrhall41

Submitted by Kat1975 on Fri, 09/10/2010 - 19:32

( Posts: 26 | Credits: )


Hi Scaredycat.....I am debtor from CA .....
I moved my accounts from any banks where I had credit cards that I would be settling....like BOA and Citi....I eventually ended up at the credit union....long story short....So, if I was going to settle an account where I also had my checking account with all my money, I would try to move it to a credit union if possible or another bank. I understand that some are worse than others.....I hope I answered your question if I am reading it right....
I settled using my bank account....most of my creditors would not accept a cashier's check and I got so tired of trying to open accounts just for the purpose of settling that I just finally paid them through my checking account after I received settlement letters from them!!!


lrhall41

Submitted by on Sun, 09/12/2010 - 14:55

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