TO "RICH C" AND OTHERS- BANK ACCOUNTS
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Posted by WHY CHAT (209.240.205.61) on January 28, 2004 at 18:43:45:
Rich answered in an earlier post about banks being able to raid a checking account for an old CC debt, that he was unaware of the problem because it had been a "long time" since he had opened a bank account. Now-a-days banks are merging faster than rabbits and the "old" credit card debt from XYZ credit card company may be the farthest thing from your mind in your Podunk Community bank, but LOOK OUT !! XYZ credit card company was bought out by Megacorp, and Megacorp has just bought out your Podunk Bank. In your savings and checking agreement with Podunk they can pull $$ from your account for any loans you have with them if you are in default--- GUESS WHAT !!!
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