Collection question

What is the name of your state? New York
I defaulted on about $15000 in CC debt in 2001. One of my creditors was Citibank Credit. I recently opened a bank account with a Citibank branch. I'm wondering if the bank could freeze my account for a debt owed to their CC division without obtaining a judgement?

[I AM ALWAYS LIABLE]

Originally posted by 10spro
What is the name of your state? New York
I defaulted on about $15000 in CC debt in 2001. One of my creditors was Citibank Credit. I recently opened a bank account with a Citibank branch. I'm wondering if the bank could freeze my account for a debt owed to their CC division without obtaining a judgement?

My response:

You're account is perfectly safe. You know, something similar happened to me to out here on the farm. I placed a fox in my henhouse, and all of my hens were safe!

IAAL

I do appreciate your reassurance, but would mind expounding a bit? Thanks

[I AM ALWAYS LIABLE]

Originally posted by 10spro
I do appreciate your reassurance, but would mind expounding a bit? Thanks

My response:

I guess you didn't get it. Whoooosh, right over your head. Okay, let's try it this way: What happens when you put a fox in a henhouse? They tend to get killed.

You did the same thing by putting your money in the same bank where you already owe money. In your contract (that you failed to read), you gave the bank a "right of set-off" against your deposited funds.

That means when the bank figures out that you owe the debt AND that you have an account with them (you know, adding two plus two), then the bank is going to empty your account.

IAAL

Thanks I AM ALWAYS LIABLE! You clarified your first reponse that my account was "perfectly safe" by letting me know that it absolutely is not.