Is this legal for a credit card company to do?

[Very_Boring_Name]

I have a credit card from my bank, and am three months behind on the payments. I spoke to them on monday and told them I would be able to make a payment on friday, which is my payday, for 50$. They agreed. Yesterday I discovered that they had taken the 50$ on tuesday (I needed that money for other stuff). I just got off the phone with them, and the guy (who was a complete asshole by the way, even though I was being as polite as possible) who I spoke to basically said "even though you made an arrangement for friday, that is not binding and we can take the money out whenever we want."

I'm pretty upset right now. I told him I was changing banks over this and his response was basically "so? you're still in collections. When can you make your next payment?"

[Dreamer Tatum]

1. Yeah, they can do that. Sorry. nt

[Lance_Boyle]

2. Most likely covered in the fine print.

You should never permit a creditor to debit your accounts - you should always push the transaction rather than letting them pull it. Most likely in agreeing to let them pull it, you agreed to let them pull it at their convenience.

[sharp_stick]

3. They can do that

your best option as far as I can tell is to get your banking to a different institution. I'd prefer a Credit Union because I find them a lot easier to deal with but a smaller bank not affiliated with the mammoth assholes that you are currently dealing with.

Best of luck, I sincerely hope things get better soon.

[Speck Tater]

4. The banskers and other corporations OWN us. We are serfs and peons. Get used to it. nt

[Angry Dragon]

5. CREDIT UNION ............. magic words

[AnArmyVeteran]

6. I wish everyone would pull their money out of major banks.

[AnArmyVeteran]

7. I wish everyone would pull their money out of major banks.

[hayu_lol]

9. Strongly suggest you get advice from an attorney...

asap. There are some options for you that may apply.

State laws vary considerably as to what banks can and cannot do. Sometimes it depends on whether your deposits are from several sources or are pension income only.

Many attorneys offer a free counseling session.

Also, keep a log of the calls you receive include recording them(tell them you are also recording). If they are unduly nasty, in your opinion, be sure to include that in your log. Take this to the attorney session if the collectors get out of hand.

The bank collectors generally only work an account for a limited time before the bank bundles the debt up and sell it to a debt collector. Attorney can advise actions you can take if the matter goes this far. Can get tricky depending on your income/sources. If debt collectors get too nasty, there are laws that protect you and penalize them.

Again, suggest you get yourself to an attorney.

[Angry Dragon]

11. I think you meant to reply to the poster and not me

[Mimosa]

8. Never allow automatic withdrawals.

Change banks and don't allow auto withdrawals.

[Very_Boring_Name]

12. In the past, its never been automatic

Whenever a date was arranged, they'd always ask me how I would be paying and I would say "online." This time they never bothered to ask how I'd be paying, so I had just assumed I would do it online like always.

[Mimosa]

13. I think they tricked you into a verbal agreement.

Have you gotten into a debt counseling/settlement program or are you deeling on your own with the buzzards?

[Matariki]

10. Was it an automatic withdrawal?

If not, if they had access to your checking account because they have your routing number, they would be in serious trouble. A friend had a large debt wiped out when a collection agency did that to them. Contact your state's Attorney General.