Do banks give information to debt collectors?

Answer by  worker3742 (208)

Yes banks will give info to debt collectors. There has been cases within the United States where banks will even sell info to businesses!!

Answer by  sonicfoundation (2597)

Banks do give information to debt collectors. If the debt is credit card debt then they will attempt to collect it themselves first.

Answer by  worker5139 (54)

It depends on what state you live in and what the banks procedures are. Most of the time the answer is no.

Answer by  benstac (1928)

If the bank is owed money by a customer, yes. Banks sometimes need to go to debt collectors if a person has been substantially behind in paying bills, especially if the credit card is through the bank.

Answer by  worker8712 (48)

Legally, no. That is forbidden by federal law. Unfortunately, some debt collection companies are not very ethical, and may be able to gather information about you anyway. It's always prudent not to give out personal information unless you absolutely have to.

Answer by  tamarawilhite (17883)

A bank can use a debt collector to retrieve unpaid late fees or credit card debt. A bank must give information on your account information to collectors if a garnishment order has been granted by the court.