Legal Question in Banking Law in California
can Bank of America take money out of checking account i have with them to pay off an old charge off business credit card. Offset?
Asked on 4/28/10, 11:19 am
1 Answer from Attorneys
Michael Stone
Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE
Sure they can offset your bank account for a credit card debt owed to the same bank, it's in the contract you signed when you opened the bank account. If the debt is more than four years old and therefore legally uncollectible, this could be an unlawful debt collection practice.
Answered on 5/03/10, 11:29 am
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