How long does right of offset allow us to go after funds?

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Question:

We charged off a large overdraft 10 years ago. The person responsible for the overdraft was inadvertently allowed to recently open a new account. Do we have the right of offset to these new funds after 10 years?

Answer:

This is a question best directed to legal counsel for your financial institution. Right of offset is governed by state law and I sure hope you win on this case.

First published on BankersOnline.com 3/19/01