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BankersOnline.com Forums Banker Forums Need to Remain Anonymous Close out OD LOC?
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#1610917 - 09/29/11 10:09 PM Close out OD LOC?
Anonymous
Unregistered

Can we close out/freeze an overdraft line of credit because the customers are filing Chapter 7? The line has a $0 balance right now.

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#1610918 - 09/29/11 10:10 PM Re: Close out OD LOC? Anonymous
Anonymous
Unregistered

Forgot to add..."because if she overdrew her account and it pulled from the line, isn't that like extending her credit."

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#1611492 - 09/30/11 10:00 PM Re: Close out OD LOC? Anonymous
Anonymous
Unregistered

bump

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#1611500 - 09/30/11 10:17 PM Re: Close out OD LOC? Anonymous
Patriot Offline
Gold Star
Joined: Oct 2005
Posts: 257
Check your loan agreement. Bankruptcy may be listed as an item of default and allow you to block or freeze the line.
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Don't blame me - - my zlib compression was enabled.

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