LawAnswers.com.au - Australia's #1 Legal Community

LawAnswers.com.au is a community of 10,000+ Australians, just like you, helping each other.
Ask a question, respond to a question and better understand the law today!
Join us, it only takes a minute:

SA Credit Card Debt - Authorisation of Inter Bank Credit Card Cancellation?

Discussion in 'Debt and Bankruptcy Law Forum' started by squirrel333, 2 February 2016.

  1. squirrel333

    squirrel333 Well-Known Member

    Joined:
    22 August 2014
    Messages:
    21
    Likes Received:
    1
    Can someone please help me.

    If I refinance and as part of that refinance, I agreed to consolidate a credit card debt into the refinance. Can the bank send a payout authority and request to cancel the card if I authorise the cancellation?
     
  2. Tim W

    Tim W Lawyer

    Joined:
    28 April 2014
    Messages:
    1,713
    Likes Received:
    402
    If that was one of the terms of the loan obtained to to consolidate all other debts, then yes.

    Have a look at the paperwork you signed for the consolidation loan.
    You may find it there, perhaps in very small print.
     
  3. squirrel333

    squirrel333 Well-Known Member

    Joined:
    22 August 2014
    Messages:
    21
    Likes Received:
    1
    Thank You.

    Yes, it is in the contract and that is what I wanted to occur but it did not happen.

    The bank is now saying they don't have the authority to close another person's account at another bank.
     

Share This Page

Loading...