MO - Right to SetOff

Posted By: Wishful Thinker

MO - Right to SetOff - 01/12/13 04:39 PM

In the state of Missouri, if you have a charged-off DDA account and an ACH Soc Sec direct deposit came in for that customer, can you use the funds from that Soc Sec direct deposit to offset the DDA charge-off you have on that customer?
Posted By: rlcarey

Re: MO - Right to SetOff - 01/12/13 07:13 PM

The account is closed and NACHA rules require that the ACH transaction be returned as such.
Posted By: Zer0

Re: MO - Right to SetOff - 05/03/13 01:43 PM

Yeah I don't think you would want to mess around with Social Security funds anyways.