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Thread started 04/15/09 3:31pm

wildgoldenhone
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Do Creditors Know when you Have Money In your Bank Account?

Last week I deposited a couple of thousand dollars in my bank account so that I could pay my taxes,
and this week all of a sudden I get a letter and phone call from a local law office hired by the credit card company to collect
back payment for a thousand something.
That made me wonder if they know that I placed money in my account and acted quickly to collect payment.

Do they?

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


HiddenYeLongOwl≈♥≈EdgyHindLoneOwl≈♥≈GlideYondHenOwl≈♥≈LegendWindOhLoy
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Reply #1 posted 04/15/09 3:37pm

luv4u

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It's totally amazing how anyone you owe tends to be able to know when you come into some money eek

They may have info on your bank. If they wanted to they could garnishee your bank account through legal means. They don't have access to your bank account monies as that would be illegal to take. Dunno if you had an automatic debit arrangement on your bank accounts.

I would tend to think they have access to some files on you and may know what you get and will phone or mail you I assume.

Rather than avoid them, you can make a deal on how you can pay (cannot get blood outta stone). Most will work with you to work out some type of agreement so you can repay what you owe. There are creditor companies that will help you budget and work with you and also contact those you owe money to on your behalf to arrange payments.

And when it's all paid off get a letter from them saying it's paid off.

Your credit history is very important. Affects things like buying a home/car etc.
Edmonton, AB - canada

"hush nubbits" !
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #2 posted 04/15/09 3:42pm

wildgoldenhone
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I agree.
And I am so amazed that with my very bad bad bad credit history, I was able to get this apartment I have now.
I'm thinking that my bank account balance must be on my credit report and the bank must have reported it to the credit bureaus or something.

I have made deals with the credit card companies and have slowly paid one company at at time.
Just have a few more to go, but I can't do it with the minimum monthly payments they set up for me, it goes over my budget.

dead

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Reply #3 posted 04/15/09 3:54pm

luv4u

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wildgoldenhoney said:

I agree.
And I am so amazed that with my very bad bad bad credit history, I was able to get this apartment I have now.
I'm thinking that my bank account balance must be on my credit report and the bank must have reported it to the credit bureaus or something.

I have made deals with the credit card companies and have slowly paid one company at at time.
Just have a few more to go, but I can't do it with the minimum monthly payments they set up for me, it goes over my budget.

dead


Paying your rent on time every month is good for your credit history. And having a roof over your head comes first.

Call them. Tell them that payments go over your budget. You can bargain with them. You have to eat too.

You may have to make a new budget and cut alot of corners till you get financially stable again.

One time I had 3 credit cards. 1 MC and 2 store cards. I was receiving 3 bills each month, my money going 3 ways.

I was like wtf I could just use my MC to pay for stuff and that way I know what I have spent, I can control my spending, etc. So I cut up the 2 department store cards and kept my MC. A co-worker saw me cutting up my cards and said wtf are you doing? eek I explained to her that I only wanted one bill, that way I know how much I am spending, and that way I can control my spending, etc.

She and my supervisor thought that was a very good idea and they both cut up their cards and kept one!! omg lol

You are also entitled and should get a copy of your credit history report. That way you can correct anything that is incorrect. They make mistakes sometimes.

Mine had an address that I have never lived at eek
Edmonton, AB - canada

"hush nubbits" !
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #4 posted 04/15/09 5:24pm

mzsadii

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In Michigan, they can use how your pay your utilities on a credit application or to renting an apartment. You can go up on the courts website and know a person's record even if they they had a speeding ticket.
Prince's Sarah
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Reply #5 posted 04/15/09 5:27pm

wildgoldenhone
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It's amazing how your records are made public, that's a bit scary.

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


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Reply #6 posted 04/15/09 5:28pm

wildgoldenhone
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luv4u said:

wildgoldenhoney said:

I agree.
And I am so amazed that with my very bad bad bad credit history, I was able to get this apartment I have now.
I'm thinking that my bank account balance must be on my credit report and the bank must have reported it to the credit bureaus or something.

I have made deals with the credit card companies and have slowly paid one company at at time.
Just have a few more to go, but I can't do it with the minimum monthly payments they set up for me, it goes over my budget.

dead


Paying your rent on time every month is good for your credit history. And having a roof over your head comes first.

Call them. Tell them that payments go over your budget. You can bargain with them. You have to eat too.

You may have to make a new budget and cut alot of corners till you get financially stable again.

One time I had 3 credit cards. 1 MC and 2 store cards. I was receiving 3 bills each month, my money going 3 ways.

I was like wtf I could just use my MC to pay for stuff and that way I know what I have spent, I can control my spending, etc. So I cut up the 2 department store cards and kept my MC. A co-worker saw me cutting up my cards and said wtf are you doing? eek I explained to her that I only wanted one bill, that way I know how much I am spending, and that way I can control my spending, etc.

She and my supervisor thought that was a very good idea and they both cut up their cards and kept one!! omg lol

You are also entitled and should get a copy of your credit history report. That way you can correct anything that is incorrect. They make mistakes sometimes.

Mine had an address that I have never lived at eek

What happened there?

eek

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


HiddenYeLongOwl≈♥≈EdgyHindLoneOwl≈♥≈GlideYondHenOwl≈♥≈LegendWindOhLoy
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Reply #7 posted 04/15/09 7:03pm

SUPRMAN

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wildgoldenhoney said:

Last week I deposited a couple of thousand dollars in my bank account so that I could pay my taxes,
and this week all of a sudden I get a letter and phone call from a local law office hired by the credit card company to collect
back payment for a thousand something.
That made me wonder if they know that I placed money in my account and acted quickly to collect payment.

Do they?

It would be illegal for them to do so but beginning in March, people do get refund checks. . . . The universe could've brought them together . . . .
I don't want you to think like me. I just want you to think.
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Reply #8 posted 04/15/09 9:13pm

7e7e7

wildgoldenhoney said:

Last week I deposited a couple of thousand dollars in my bank account so that I could pay my taxes,
and this week all of a sudden I get a letter and phone call from a local law office hired by the credit card company to collect
back payment for a thousand something.
That made me wonder if they know that I placed money in my account and acted quickly to collect payment.

Do they?


thats why ive never had a credit card.

cheers!
~svn seven

i have had a few prepaid debit cards however... but they expire when they run out of money
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Reply #9 posted 04/16/09 3:54pm

MIGUELGOMEZ

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I'm sure they can check for funds if they have an account #. They can't ask for the amount in your account but they can ask if a $100 check will clear.
MyeternalgrattitudetoPhil&Val.Herman said "We want sweaty truckers at the truck stop! We want cigar puffing men that look like they wanna beat the living daylights out of us" Val"sporking is spooning with benefits"
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Reply #10 posted 04/16/09 4:04pm

luv4u

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MIGUELGOMEZ said:

I'm sure they can check for funds if they have an account #. They can't ask for the amount in your account but they can ask if a $100 check will clear.


Arn't bank accounts confidential and private???
Edmonton, AB - canada

"hush nubbits" !
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #11 posted 04/16/09 4:20pm

spiritandtruth

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Beware of certified letters from a creditor and be sure to read it carefully if you receive one... they can legally sieze funds from an account (if available, of course) once a formal levy or garnishment is issued. I unfortunately had to initiate these types of legal actions in the past.
http://prince.org/msg/105/307615
"Eternity is just one kiss away"
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Reply #12 posted 04/16/09 4:26pm

MsMisha319

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They can't take your money out of your account. That would be illegal.


Smooches;)
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Reply #13 posted 04/16/09 4:33pm

luv4u

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MsMisha319 said:

They can't take your money out of your account. That would be illegal.


Smooches;)


If the bank gets a court order or a court document for seizing funds then the bank has to comply with the legal document or be fined.
Edmonton, AB - canada

"hush nubbits" !
REAL MUSIC by REAL MUSICIANS - Prince
"I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben
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Reply #14 posted 04/16/09 4:42pm

spiritandtruth

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luv4u said:

MsMisha319 said:

They can't take your money out of your account. That would be illegal.


Smooches;)


If the bank gets a court order or a court document for seizing funds then the bank has to comply with the legal document or be fined.



nod
http://prince.org/msg/105/307615
"Eternity is just one kiss away"
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Reply #15 posted 04/16/09 5:54pm

MsMisha319

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luv4u said:

MsMisha319 said:

They can't take your money out of your account. That would be illegal.


Smooches;)


If the bank gets a court order or a court document for seizing funds then the bank has to comply with the legal document or be fined.




Well, in that case, I would take my money out of the bank and place it underneath my mattress lol



Smooches;)
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Reply #16 posted 04/16/09 5:58pm

wildgoldenhone
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MsMisha319 said:

luv4u said:



If the bank gets a court order or a court document for seizing funds then the bank has to comply with the legal document or be fined.




Well, in that case, I would take my money out of the bank and place it underneath my mattress lol



Smooches;)

That's where it was, I just put in in there to pay my taxes.
So government gonna get it first.

neutral


.
[Edited 4/16/09 17:58pm]

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


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Reply #17 posted 04/16/09 6:00pm

MsMisha319

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wildgoldenhoney said:

MsMisha319 said:





Well, in that case, I would take my money out of the bank and place it underneath my mattress lol



Smooches;)

That's where it was, I just put in in there to pay my taxes.
So government gonna get it first.



neutral


.
[Edited 4/16/09 17:58pm]





Take it back out. Did they take the money already or are they just scaring you?


Smooches;)
[Edited 4/16/09 18:01pm]
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Reply #18 posted 04/16/09 7:29pm

7e7e7

luv4u said:

MIGUELGOMEZ said:

I'm sure they can check for funds if they have an account #. They can't ask for the amount in your account but they can ask if a $100 check will clear.


Arn't bank accounts confidential and private???


in truth... no

cheers!
~svn seven
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Reply #19 posted 04/17/09 1:08am

MIGUELGOMEZ

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luv4u said:

MIGUELGOMEZ said:

I'm sure they can check for funds if they have an account #. They can't ask for the amount in your account but they can ask if a $100 check will clear.


Arn't bank accounts confidential and private???



Back in the day, when I worked at a bank, businesses would call in to check if a check would clear. We wouldn't say how much they had in their account. We would just tell them if the check would clear.
MyeternalgrattitudetoPhil&Val.Herman said "We want sweaty truckers at the truck stop! We want cigar puffing men that look like they wanna beat the living daylights out of us" Val"sporking is spooning with benefits"
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Reply #20 posted 04/17/09 1:10am

mdiver

MIGUELGOMEZ said:

luv4u said:



Arn't bank accounts confidential and private???



Back in the day, when I worked at a bank, businesses would call in to check if a check would clear. We wouldn't say how much they had in their account. We would just tell them if the check would clear.


We call that an "in hand,in order" check. If i have a cheque in my hand that is in order will it clear? No guarantee that the money will be there when i present it but it is an idea of what the score is.
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Reply #21 posted 04/17/09 1:18am

pplrain

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wildgoldenhoney said:

Last week I deposited a couple of thousand dollars in my bank account so that I could pay my taxes,
and this week all of a sudden I get a letter and phone call from a local law office hired by the credit card company to collect
back payment for a thousand something.
That made me wonder if they know that I placed money in my account and acted quickly to collect payment.

Do they?


If they have your bank account number and have won a jurisdiction from court to collect money, sure they can.
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Reply #22 posted 04/17/09 8:15am

MIGUELGOMEZ

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mdiver said:

MIGUELGOMEZ said:




Back in the day, when I worked at a bank, businesses would call in to check if a check would clear. We wouldn't say how much they had in their account. We would just tell them if the check would clear.


We call that an "in hand,in order" check. If i have a cheque in my hand that is in order will it clear? No guarantee that the money will be there when i present it but it is an idea of what the score is.




Exactly. Now it's done automatically. I hate that I can't write a check with no money in the bank. I used to write a check a day or two before my paycheck was going to go in and cross my fingers that the check wouldn't clear until then. lol
MyeternalgrattitudetoPhil&Val.Herman said "We want sweaty truckers at the truck stop! We want cigar puffing men that look like they wanna beat the living daylights out of us" Val"sporking is spooning with benefits"
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Reply #23 posted 04/17/09 8:26am

Graycap23

A court order for a creditor? This doesn't sound right unless it was a secured debt.
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Reply #24 posted 04/17/09 12:32pm

7e7e7

luv4u said:

MIGUELGOMEZ said:

I'm sure they can check for funds if they have an account #. They can't ask for the amount in your account but they can ask if a $100 check will clear.


Arn't bank accounts confidential and private???


No

cheers!
~svn seven
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Reply #25 posted 04/17/09 12:35pm

wildgoldenhone
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sad

Better take it back out and use money orders instead.

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


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Reply #26 posted 04/18/09 8:38am

BobGeorge909

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When I worked collections, people would pay by check, so we would have their acct number, and periodically(as well as illegally i think) we would check the balance to figure out when paydays were and whatnot....yeah, I totally see a creditor knowing u came into money.
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Reply #27 posted 04/18/09 8:40am

BobGeorge909

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I even went as far to call local Pizza Huts to get customers real phone numbers. They would give us bad phone numbers of course, but people want their pizza, so the local pizza hut would usually have a good number for them.
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Reply #28 posted 04/18/09 5:15pm

wildgoldenhone
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BobGeorge909 said:

When I worked collections, people would pay by check, so we would have their acct number, and periodically(as well as illegally i think) we would check the balance to figure out when paydays were and whatnot....yeah, I totally see a creditor knowing u came into money.

That makes a lot of sense, because it was just too coincidental,
and they asked for almost the same amount I have left after the federal automatically deducted their funds from my account.
And that's funny that you had to go the pizza hut route to get their #.

starTo succeed, eliminate negative forces in your life. Flood your mind with positive words, images, books, and conversations.star


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