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schmuls Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:01 PM
Original message
Someone in another forum just said that Sears was able to
go in and clean out her checking account (all but $3.00) because she owed about $800. on her charge card! Does anyone know how they were authorized to do this? What new kind of law I missed?! Thanks.
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SteppingRazor Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:03 PM
Response to Original message
1. How long did she owe it?
Did she not make a payment for months at a time? Was the debt turned over to a collection agency?
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schmuls Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:05 PM
Response to Reply #1
2. she said they had been unable to pay anything for several
months, but did not state whether or not an agency had the account.
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Maddy McCall Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:10 PM
Response to Reply #2
3. A judge would have had to order it.
Sears can't just go clean out your account. A judge would have to order the seizure of her assets to repay her debt.

I don't think that you're hearing the whole truth from the person on the other forum.
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schmuls Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:15 PM
Response to Reply #3
4. The forum is the DU lounge (whoever can connect these)
I don't know how. Thanks.
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BJW Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-05 12:20 PM
Response to Original message
5. It's call garnishment of bank account for an unpaid
debt, which would have occurred after Sears filed suit on the unpaid debt, Sears won, and the judge ordered garnishment.
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Jim__ Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-05 10:31 AM
Response to Original message
6. Something like that happened to someone I work with
He refinanced his house. The company he had a loan from had the authority to withdraw his monthly mortgage payment. In his loan contract, there was an early payment penalty. When the loan was paid off, the mortgage company went in and withdrew everything (a substantial amount) from his checking account. He only found this out when his checks started bouncing.

I don't give anyone access to my bank accounts - I'll take the time to make out the checks and mail them in.
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