Can Bank of America take money out of my checking account to pay off a charged off credit card debt?

Answer

To whomever posted this question, please e-mail me. I have a similar issue with Bank of America and am currently doing some research. Contact me and we can possibly discuss.

MMonterio@comcast.net

The answer to this question is YES, to anyone out there that has credit cards at bank of america, and also have checking accounts there that have balances, at a certain point in default, they can and WILL take money out of your checking. I just had it happen to me, and my lawyer says its legal because its in the fine print of the loan. Your checking account is collateral. They also do this completely un-announced.