im sure one of you has to know the answer to this.....

[shaedog3]

my hubby had a bank account that went over drawn the end of last year, we ended up switching banks, because of the fees and many other reasons, any way, i set up an alotment with them for 10$ a month, back in january. Myyhusband got a caall today from the bank saying that if we do not up what we are paying every month, that they were going to send the account to his credit. Now, I was under the impression that as longf as we were paying them monthly, no matter how much the payment, they couldnt send us to collections. does any one know if they can legally send it to collections if we are paaying every month?

[ff-princess]

they can send it to collections at any time.  not only that, but you're probably on the list that banks check before they open new accounts for folks.  if you don't get this resolved (and soon), it's going to cause long-term damage to your credit, and to your ability to open a checking or savings account at another bank.

[momtoBrenna]

The only bills that that rule applies to are medical bills. They can do it anytime that they want.

[shaedog3]

Quoting ff-princess:

they can send it to collections at any time.  not only that, but you're probably on the list that banks check before they open new accounts for folks.  if you don't get this resolved (and soon), it's going to cause long-term damage to your credit, and to your ability to open a checking or savings account at another bank.

Really? I thought as long as you were making consistent payments, that they couldn't.

[Trackerchick]

Do you have something in writing from the bank stating they agree to the arrangement?

Quoting shaedog3:

Quoting ff-princess:

they can send it to collections at any time.  not only that, but you're probably on the list that banks check before they open new accounts for folks.  if you don't get this resolved (and soon), it's going to cause long-term damage to your credit, and to your ability to open a checking or savings account at another bank.

Really? I thought as long as you were making consistent payments, that they couldn't.

[honeybee69]

Yes they can. I work at a credit union. 

[shaedog3]

Quoting Trackerchick:

No, I set it up on my own, before I ever even got a call from them, i just didn't want it to go to collections, that is why I set it up

[Trackerchick]

Oh too bad :(
Yes, they can do that. If you are able to work out new arrangements make sure to get it in writing.

Good luck!

Quoting shaedog3:

Quoting Trackerchick:

No, I set it up on my own, before I ever even got a call from them, i just didn't want it to go to collections, that is why I set it up

[mommy2b39465]

Sorry I have no clue about the collections stuff, but:

We go with Regions, and I'm thinking that some of the other banks also do this: 

We have one checking account and a primary savings account. These two are linked, so that if we ever overdraft, say, by $320. It would charge us $7, and transfer $400 from our savings to our checking. I know that our old account (not sure on the new one), also had a credit account attached, so that if we, for some reason, overdrafted and it took all our savings out and was still overdrafted, it would default over to a credit line. 

[shaedog3]

BUMP!

[shaedog3]

Quoting Trackerchick:

Thank you!