| T O P I C R E V I E W |
| Kevin.1 |
Posted - 01 March 2012 : 14:00:16
I have been eceiving letters of threat from bailiffs but feel that I have been wrongly accused of debt and need advice. I am also worried that my creditors may be able to access my bank account. Can they do this ? |
| 5 L A T E S T R E P L I E S (Newest First) |
| James Falla |
Posted - 02 March 2012 : 12:12:05
Hi debtinfo
You are right to mention the third party debt order but as you say, it is really only used in the business world. In all my time working with individuals with debt problems (a few years now) I have never heard of an individual being affected by one of these.
Debt solutions expert and author.
If you would like further help or guidance visit www.beatmydebt.com
Alternatively I can be contacted via e-mail: james@beatmydebt.com |
| debtinfo |
Posted - 01 March 2012 : 20:15:30
probably not relevent here but to be thorough there is one other way a creditor can raid a debtors bank account and that is where a 3rd party debt order has been obtained from the court that holds your bank to hold the funds there until you pay the debt or after a time to pay them over to the creditor.
Not really regularly used though in the personal debt world, more often used with business creditors |
| Niobe |
Posted - 01 March 2012 : 20:05:45
HSBC did that with me every month, even though we had changed accounts. They took the money out of the account every month, paid it back in (there was nothing left in there) and then charged me for the privilege!!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| James Falla |
Posted - 01 March 2012 : 19:58:04
Hi Kevin
As Viki rightly says, a creditor will only be able to gain access to your bank account if they are the same bank. For example if your account is with HSBC and you also have a loan with HSBC that you cannot pay, HSBC can take money from your account to pay towards the loan based on a rule called the right of offset. If you are worried about this then the only way to protect against it is to change your bank account.
Debt solutions expert and author.
If you would like further help or guidance visit www.beatmydebt.com
Alternatively I can be contacted via e-mail: james@beatmydebt.com |
| Viki.W |
Posted - 01 March 2012 : 14:11:47
Only if you bank with the same creditor. If you have a Barclays bank account for example and a barclays loan, then the loan can still be taken by the bank.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
