Comments on: CAN A BANK DEBIT ACCOUNT TO COLLECT OUTSTANDING PAYMENT FOR CREDIT CRD EVEN IF THERE IS NO STANDING INSTRUCTIO? http://www.businessnwealth.com/can-a-bank-debit-account-to-collect-outstanding-payment-for-credit-crd-even-if-there-is-no-standing-instructio/ Fri, 01 Jan 2010 12:50:10 +0000 hourly 1 http://wordpress.org/?v=3.1 By: stan c http://www.businessnwealth.com/can-a-bank-debit-account-to-collect-outstanding-payment-for-credit-crd-even-if-there-is-no-standing-instructio/comment-page-1/#comment-509 stan c Wed, 05 Aug 2009 19:22:24 +0000 http://www.businessnwealth.com/can-a-bank-debit-account-to-collect-outstanding-payment-for-credit-crd-even-if-there-is-no-standing-instructio/#comment-509 You probably signed a form permitting them to debit the account. It's called the right of set-off. You should never have your checking where you have a loan or credit card. Suggest you find a different asap so they can not debit it again You probably signed a form permitting them to debit the account. It’s called the right of set-off. You should never have your checking where you have a loan or credit card. Suggest you find a different asap so they can not debit it again

]]> By: Dixie Darlin' http://www.businessnwealth.com/can-a-bank-debit-account-to-collect-outstanding-payment-for-credit-crd-even-if-there-is-no-standing-instructio/comment-page-1/#comment-508 Dixie Darlin' Wed, 05 Aug 2009 18:35:28 +0000 http://www.businessnwealth.com/can-a-bank-debit-account-to-collect-outstanding-payment-for-credit-crd-even-if-there-is-no-standing-instructio/#comment-508 Yes, most banks have this provision/clause in the terms and conditions of your accounts. Review your contracts and agreement on both accounts, you would have had to agree to it before they would have done it. Yes, most banks have this provision/clause in the terms and conditions of your accounts.

Review your contracts and agreement on both accounts, you would have had to agree to it before they would have done it.

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