Consumer Protection Law

Consumer protection law questions? Ask a lawyer now.

Ask a Lawyer,
Get an Answer ASAP!

My question is very specific. It is about bank setoffs as it…

Customer Question
My question is very...

My question is very specific. It is about bank setoffs as it pertains to accounts funded solely with social security payments. I know a bank can setoff with SSI in the same account. I know a bank cannot setoff a credit car or auto loan. My question: Can a bank setoff an overdraft in Chkg Account A with funds from Chkg Account B when B is funded solely from social security payments? Where would get this in writing?

Lawyer's Assistant: What state is this in? And how old is the car?

What car?

Lawyer's Assistant: Has anything been filed or reported?

Nothing is ever filed in a bank setoff! Bank setoffs do not go through a judicial process. There is no 'service' or 'filing'.

Submitted: 1 month ago.Category: Consumer Protection Law
Show More
Show Less
Ask Your Own Consumer Protection Law Question
Answered in 30 minutes by:
3/8/2018
Consumer Protection Lawyer: Loren, Lawyer replied 1 month ago
Loren
Loren, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 37,276
Experience: 30 years experience in general legal matters.
Verified

Banks can legally recover overdraft charges from your Social Security benefits by exercising their right of offset. The right of offset lets a bank take funds from a deposit account to pay a debt owed to the bank. For example, if you owe Bank 1 overdraft charges, it can seize funds from a deposit account held at Bank 1, not any other bank.

Ask Your Own Consumer Protection Law Question
Customer reply replied 1 month ago
I've read very clearly that offset with SSI income pertains only to the same related account. Are you saying the bank can cross post all debits and credits from any account held at the bank and offset with SSI income?
Consumer Protection Lawyer: Loren, Lawyer replied 1 month ago

Yes, and it is usually found in the account agreement you signed when you opened the account.

I am sorry. I wish I could tell you otherwise, but I do not want you spinning your wheels on this.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (click 5 stars in the rating section on this page). It is the only way that I am credited by JustAnswer for answering your question.

There is no additional charge to you for rating me favorably.

A bonus is not expected, but is always appreciated.

Thank you for using JA.

Loren

Ask Your Own Consumer Protection Law Question
Customer reply replied 1 month ago
If you are correct, I will pay you. However, if you are giving me incorrect information, I should not have to pay you additional monies.Drew Edwards, Esq. wrote (as attorney for credit unions) in a credit union and banking journal:Social Security Social Security funds are also exempt from the right of setoff. This exemption arises from Section 207 of the Social Security Act (42 USC 407): “The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law.” Based on this, the courts have decided that a financial institution cannot offset Social Security benefits against any other debts held by the financial institution. However, this exception also has its own exception: a financial institution can use Social Security funds to offset a debt only if the debt arose from the account in which the Social Security benefits are placed (i.e., an overdraft). This means that you can offset an overdraft with a future deposit of Social Security funds into the same account, but you cannot apply Social Security funds in a member’s share account to a separate delinquent loan account.I also read that Lopez vs. Washington cites that SSI can be used to offset an overdraft WHEN the deposit and overdraft are the SAME account.Any terms in any agreement, or terms of service are only legal if they do not violate federal law. SSI is governed by federal law, so whatever the bank agreement states is meaningless, if laws governing SSI state otherwise.Respectfully, ***** ***** that you consider the content in my last post and clarify how a bank can offset SSI income to ANOTHER account.Thank you.
Consumer Protection Lawyer: Loren, Lawyer replied 1 month ago
I am going to be stepping away. So I will opt out so that another expert can assist you in a timely manner.
You do not have to stay online for the question to be active, or rate this question yet as it would then discourage others from answering. Should a professional pick it up, you should be alerted via email and/or SMS (text message) unless you actively disable these features.There is no need for you to reply at this time as this may "lock" your question back to me, thus inadvertently delaying a response from someone else.My apologies for any inconvenience and good luck.
Ask Your Own Consumer Protection Law Question
Was this answer helpful?
Ask Loren Your Own Question
Loren
Loren
Loren, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 37,276
37,276 Satisfied Customers
Experience: 30 years experience in general legal matters.

Loren is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Lawyer

6,930 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

3,422 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

Barrister

Barrister

Lawyer

1,607 satisfied customers

Attorney,17 years experience in consumer protection areas

Tina

Tina

Lawyer

1,587 satisfied customers

17 years legal experience including consumer protection law.

P. Simmons

P. Simmons

Lawyer

1,184 satisfied customers

16+ yrs. of legal experience.

LADY LAWYER

LADY LAWYER

Lawyer

748 satisfied customers

Consumer Lawyer

RGMacEsq

RGMacEsq

Lawyer

582 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Consumer Protection Law Questions
If you receive a 1099C and pay the IRS tax on it as income,
If you receive a 1099C and pay the IRS tax on it as income, can a debt collector (or creditor) continue to collect on it?… read more
KLAW
KLAW
Juris Doctorate
2,029 satisfied customers
My son bought a used car from a dealer in Oregon in January
My son bought a used car from a dealer in Oregon in January of 2017. The car is now in the shop because a leak has shorted out the electrical system. The mechanic said this leak has been going on for … read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
My husband and I have IRAs which jointly own a little rental
My husband and I have IRAs which jointly own a little rental house in Tucson, Arizona. We are in the process of selling that house with the proceeds staying in the IRA management company. The title co… read more
Ely
Ely
Counselor at Law
Juris Doctor
3,422 satisfied customers
I would like to know how to sue an online school. New
Starting research, the school has been sued by 2 states … read more
Lori
Lori
Juris Doctor
1,041 satisfied customers
We did a big remodel on our home. Paid the contractors
We did a big remodel on our home. Paid the contractors original price in full. Job was not completed and was not right. No inspections performed after remodel. He presented me with another 20k dollar … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
If a car is towed 12 miles to the repair shop, and the tow
If a car is towed 12 miles to the repair shop, and the tow charge is $3.50 per mile, how much did the cost?… read more
Loren
Loren
Lawyer
37,276 satisfied customers
I have a contract for pre need funeral with this
I have a contract for pre need funeral with this unscrupulous company is there anyway to recind the contract?https://drive.google.com/file/d/1KGUxs1DUD83TewdLY1JmK4ZyuUXq5IUp/view?usp=drivesdk… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I just created a corporation in California, I heard that I'm
I just created a corporation in California, I heard that I'm supposed to pay $800 to California franchise tax board annually. There hasn't been any activity. If I desolve the company now, do I still h… read more
Damien Bosco
Damien Bosco
4,144 satisfied customers
I was denied a claim without seeing any doctor. Ct. Reaching
It's more to this claim I was out on leave due to a surgery and now it's time for me to return back to work and it seems like they are giving me a run around to return… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I recently got some repair work done in San Antonio Texas
I recently got some repair work done in San Antonio Texas and while replacing my brakes they forgot to replace the caliper bolts for my front left tire I then drove about 3000 miles with my vehicle li… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
10,036 satisfied customers
I had a problem with a moving company.We agreed that the
Hi, I had a problem with a moving company.We agreed that the total cost of moving will be around 2600$. After that, I gave them a down payment of almost 1333$.When the moving truck came to my place, t… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
29,337 satisfied customers
Financial Question: If I make Monthly car payments from
Financial Question: If I make Monthly car payments from August until April, when can I pay my car off in full and have it have a positive impact on my credit. Please provide references. Thanks!… read more
Ray
Ray
Lawyer
Doctoral Degree
32,061 satisfied customers
If a timeshare company lies about your income on an
If a timeshare company lies about your income on an application for their credit card. What recourse do I have and is there a time limit? … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
29,337 satisfied customers
Does every patient have to be given a physical copy of
Does every patient have to be given a physical copy of patient rights and privacy practices or is document of verbal acknowledgment that these were reviewed and consented to sufficient? Are there any … read more
WiseOwl58
WiseOwl58
JD Honors Graduate
4,031 satisfied customers
I experience racial discrimation at a store bucks store and
I experience racial discrimation at a store bucks store and reported it to corporate. Case numbers was created but nothing happen. How can I file a class action lawsuit against them. … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,207 satisfied customers
I need lawyer for represent. No my location at the country
No my location at the country kingdom Saudi Arabia at the city Riyadh … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I own an auto repair shop in Pa i have 3 vehicles that we
I own an auto repair shop in Pa i have 3 vehicles that we have done repairs to the customers have not pair there invoice or picked the vehicles up. all of them know about the repairs and storage but r… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
10,036 satisfied customers
In had lien on my mobile home, but when it was paid off the
In had lien on my mobile home, but when it was paid off the lien was off and they didn't send my title ,now I can get in touch with them … read more
Damien Bosco
Damien Bosco
4,144 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x