Legal Question in Bankruptcy in California
Using a credit card for overdraft protection
A person has a balance on a mastercard of about $5500. The majority of this balance is for cash advances but about $1200 is from using the card as overdraft protection for a checking accouont. If this person filed bankruptcy, could the bank report the $1200 used for overdraft protection as "bad checks?" Would the debtor have to pay the $1200 to protect him or herself? Or is the $1200 considered just regular unsecured credit card debt like the rest of the balance.
Thanks.
Asked on 10/28/98, 12:10 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Using a credit card for overdraft protection
It is a regular unsecured debt.
Ken Koury
Kenneth P. Koury, Esq.
5807 Topanga Cyn Blvd., Suite G-201
Answered on 1/03/99, 10:46 pm
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