Re: STRANGE twist: current account SOLD to OLD Creditor! What to do?

Posted by Drew (24.59.27.46) on March 05, 2004 at 20:00:45:

In Reply to: STRANGE twist: current account SOLD to OLD Creditor! What to do? posted by Picksley on March 05, 2004 at 18:12:25:

Since the company does own both accounts, they can in fact gather information from one department to another department. Many companies do share that information and it is not illegal for them to do so since they both owe the accounts. Now can they access your bank account? No. Not unless they have a judgment. However if they bought the bank where your bank account is, then yes they can access your bank account. As to when they will get your updated information will depend on how fast they get the information in the system and update it. They will track the accounts and flag your social security accounts.

Once they have established that you have this other current account and figure out who you are, they will probably try and shut your current account down to use it as leverage against you. They will probably sue because if you can pay this account, why aren't you paying them?

I agree you should OPT OUT. They will have your updated information and it is not against the law for companies to share your information internally with other departments.

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