I recently read that collectors were (legally) able to take money from your bank account for old debts. Does any one know how far this stretches (cell phone bills, rentals, etc) Where does the collection stop and is there any way to prevent this (after you already have the debt) Please provide information and source if possible. THANKS
Things may have changed, but unless a collector has a court judgement against you they can not on thier own take money out of your account without your approval. One major exception to this is the federal government. So, unless your debt is with the government, and you do not have a judgement against you, then they can not touch it.
I have never heard that before. Collection agencies will threaten you in any way they can to get the money owed them. They can take you to court and if they win a judgment against you your wages can be garnished. But I don't believe they have the authority to tap into your bank accounts.
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