I had about $10,000 in debt on a business credit card with an LLC. I understand that BOA (FIA Services) has to go into my personal savings and take money to pay my business debt. However, I received a letter from FIA dated June 12, 2008 and received on June 15, 2008. The letter clearly states I have until june 27, 2008 to take advantage of options to settle the debt. However, on June 19, 2008 the bank took out the $10,000 from my personal account. Is this legal? I mean can they give me till a certain date and then just take the money before I respond. At this time, I have filed a complaint with the Comptroller of National Banks, contacted my congressman, and will be following up with legal activity.
BoA did this to me. I had a 50K credit line. Was NEVER late, BUT I had charge offs on my credit reports with other accounts.Well they are always checking your credit reports and saw this, so without EVEN TELLING ME they pulled the whole amount out of both my checking and my savings account! Just like that! One minute I have around 30 in the bank and owing maybe 30K as well on my credit line for the month,and the next minute no money in the accounts BUT the credit line was paid off and CLOSED. I didn't fight, didn't know I could.., It came at a bad time as well. Right in the middle of my busy season and I had used that credit line for business expenses... Needless to say I am not a fan of BoA. Woofer
Fght BoA says you can't. No way to get it back since they will not refund. However does anyone know if I have a fight if I received the letter that I should contact them by June 27, but on June 19 they take the money?
Thanks Woofer I have done a lot, even calling my local congressman. I am not contacting an NACA lawyer.
bbatelli, don't take this personally... it's not just you. What's up with people posting "Help, what do I do?!?!?!" messages, and then refusing to listen when folks here advise them what to do? Why on earth would you NOT want to consult a lawyer? Most lawyers will provide a free consultation. If your rights were violated, a lawyer can file a suit on your behalf and help you get paid. What do you have to lose? And if you don't want advice from the regulars, why are you posting here? It's not just this post, we've seen a bunch of these lately.
They can only go into your accounts if the credit line and your personal bank are the same right? Joe
You should always read the ENTIRE agreement before you sign. There may have been cross-collateralization language there.
You have done alot? What is a lot? Have you done anything that can actually improve your issues? No. Calling a Congressman isn't going to get you anywhere, yet you say you refuse to call a lawyer. I am hoping that was a misprint because a congressman, no matter how much power you preceive them to have, does NOT have the power to call them up and say give the guy his money back. The individuals on this thread have MANY MANY MANY more years of experience dealing with issue that you are giving them credit for. Don't ask for help and then throw it back in their faces. Seems rude.
I have found that the only time speaking to an *official* such as a senator,congressman ,attorney general, will help you at all is when one of the people think they are going to get mucho publicity form helping you out. They are all a bunch of yes men, and they do not understand really or could care less what your problem is. While I have done most everything pro se, I do not recommend it to a lot of people as you really need to have the time to study and do your paperwork,you need confidence and also the ability to think and speak clearly on your feet in front of the judge. I feel that the majority of times hiring a good consumer lawyer is going to save you stress and money, and just may get you some money back ; ) Others it seems do not agree. Woofer
Agree with woofer regarding congressmen, senators, etc, that it is pretty worthless contacting them. The best method I found is for the local TV station to air your story. Ultimately it might not do any good, BUT the bad publicity is there.
And I agree with you : ) While I have not gone to the tv,but think it is a great thing to do, anytime I really wanted to get something done I went to the newspapers! Woofer
Lawyer already contacted The first thing I did was contact a lawyer and brought a letter to my local branch and sent a letter directly to BoA. So to answer your question, I did follow the advice. Thanks
Sorry. I just read my post and I made a mistake. I meant to say I am contacting an NACA lawyer. Sorry if this caused any problems.
Your problem is unique most of the people here are dealing with personal consumer credit. Business credit is a different animal. So it is really best to ask a lawyer since we don't know all the ins and outs to this area of credit. Interested in learning from what you do and find out so to help someone else out with the same problem.
