BANKS

THE BANK PUT A HOLD ON MY DAY TO DAY BANK ACCOUNT CAUSE I CANNOT PAY MY CREDIT CARD AND THEY DONT WANT TO RELEASE THE FUNDS UNTILL THE CARD IS PAID SO NOW I HAVE NO MONEY TO LIVE AND PAY THE UTILITY BILLS CAN THEY DO THIS FOR REAL?

Posted on Thursday, August 5, 2010 | Filed under: Bankruptcy
 posted by Questions @ 5:59 pm 1 Comment
1 Expert Comment:

 At August 12, 2010 | 7:31 am , Bart Goth, Trustee in Bankruptcy Said...

This is well within the banks rights. If you owe money to the same institution you owe money to they have the right to freeze the monies in your account, or seize all of the money in your account. The only ways to release this hold are a) to negotiate arrangements directly with the bank, b) file through the Orderly Payment of Debt Program, c) file a consumer proposal, or d) bankruptcy. Another hint, it is often useful to bank at a place that you don’t owe money to.

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