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Additional Details
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itsamadworldx | A collection agency drained my bank account, how can I get my money back? |
I owe a few hundred dollars to my credit card that I hadn't been able to pay yet because of financial difficulties. I recently received a long overdue check from my previous employer for about half of what I owe for my card. Today I see that my bank account is at $0, I call and find out it was taken by a collection agency.
I have to buy groceries, put gas in my car, and pay other bills, I need that money and in my opinion they have NO right taking MY money without my authorization.
Unfortunately I can't call them until tomorrow during business hours.
Is there anything I can do? Do you think I have a chance at getting that money back? Because this is not right, in my opinion.
Additional Details
No, I didn't get any sort of court notice or summons, I wouldn't ignore that. Yes I spoke with the credit card company before I was sent to collections. |
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Sgt Big Red
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Ask the bank if the account was "frozen" not just paid out. Collectors will freeze an account while pending adjudication in court. Usually once they have frozen it, you will soon be served a summons to appear.
If you did not receive a summons, and the bank paid out the funds on an illegal seizure then get a lawyer and sue both the collection agency and the bank.
If the collection agency did obtain a default judgment and you were not properly served (sewer summons as mentioned here) then the collection agency violated 15USC1692i of the FDCPA
Hope this answer is of help to you
LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice
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mobilemark
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did you get any summons to court hearing did you ignore that
summons did you get a notice about a default judgement in your case
did you ignore that? if you ignore all those notices and you didn't
go to court its your fault for ignoring those notice
did you ever write to the credit card company to explain your situation?
(*before they sent to collections?) a lot of creditors will work with you
to help you apparently since you avoid them they thought you were
a deadbeat |
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Jay S
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It's gone.
Banks require legal documentation before they will garnish a checking account. They've been presented with a garnishment/levy, which is granted by a court.
The bank has no choice in the matter. They must comply or face legal action themselves.
You may as well find another bank as that one is going to get drained every time money hits it. Stop your direct deposit NOW if you have it.
Get a check instead if it's an option and cash it. They will blanket all the banks in the area dropping off garnishment documents. |
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maxmom56
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If they have a judgment against you, it's their right to seize your money. Ask your bank why they were allowed to grab the cash - if it was a judgment, you are out of luck. |
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picasso
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The only way they should be able to do that is if you signed some kind of contract with them saying they could do that. Some of these businesses are starting to do this deceptive way of working now. Dish network does this. When you sign the contract and it is installed, you have signed that if you do not pay, they can collect from your bank account (or credit card #). If you haven't signed anything like that, then I would say they are doing this illegal. Most underhanded businesses will operate like this as they take the chance that the person doesn't know how to go after them or won't. I would start by contacting your bank and ask them if that is legal. Have they taken you to court and gotten a judgment? If they have then they have every right to collect it anyway possible. Talk to your bank!
Good Luck!!! |
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Tomk
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It is unimaginable that a bank would relinquish your funds to a third party unless that party has a court order to do so.
Before a creditor does that, they send you several overdue notices and even send you a letter of negotiation that says something like "We are willing to settle for $150.00 instead of the full $300.00 if you pay this month.
If you continue to ignore that correspondence, then eventually they sue you in court. After that, they can take money out of your checking account, savings account, your paycheck, and even your income tax refunds. |
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braveheart
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No you won,t get it back they will give you the run a round if i was you i would close that bank account because they will keep checking it
to get the rest of the money. |
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lisa s
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With all the different bank acquisitions, it is quite likely that your credit card company is a 'friend' of your bank.
For example, I have a credit card with "BANKONE" when they were taken over by 'chase' all of my bank accounts with chase were 'fair game' according to the terms and conditions in the credit card disclosure.
You might find that your bank account is 'friendly' (ie an affilliate of) your credit card company.
If this is the case, they do not need permission since you already gave it to them in the terms of service agreement that you signed or consented to when you used the card |
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Sophia & Hazel's Mommy
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I am sorry, but you are not going to get your money back. You owed it and they never received payment so they have every right to take it. Unfortunately, as tax season approaches remember that they can take your entire refund too if you still owe money. It has happened to alot of my friends. You need to make sure that you set up a payment plan with creditors if you cannot pay or they have every right to garnish your wages, take your money or take your tax refund.
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SlimMick
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Did you give the collection agency your checking account info for electronic debits against your account to make payments? If so, that would explain it....If you had previously sent them a personal check, they may have pulled your bank transit + checking account #'s off and done an electronic autodebit against your checking account....Call your bank and see if there have been any ACH debits made....if so, then there is your answer....If none of these apply....then:
It should always be a matter of concern when bank accounts get frozen/depleted without any prior, advance notification. Judgments cannot come out of the clear blue sky and debt collectors cannot assess judgments on their own. Only a court can do this.....A process has to be followed: Officially serving you a summons....this is usually done by a sheriff. A court date is established and on that date you face your creditor. If they win and a judgement is assessed...only THEN they can freeze your bank accounts...
Many bottom-feeder debt collectors have figured out that if they "accidentally" serve you a summons to an old/incorrect address where they know that you won't be there.....that you will be a "no show" on the court date because you weren't aware of it.....Then.... boom....an automatic default judgement is assessed against you. This is how these bank account freezes usually occur out of the clear blue sky. When the time comes to assess the judgment, they have no trouble finding your "real" address.
It is illegal to deliberately serve someone at an incorrect address. This tactic is called a "sewer service" summons delivery. If you can document that you were improperly served, you may be able to get this judgement voided. |
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Positive People Have it Best
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the money you owed is of the same color as the one they took. Think about it. |
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