Chase recently bought out Washington Mutual. A year ago I had a credit card account go to collections because Chase refused to make payment arrangements with me. I have a checking and savings account with WAMU and today they levied my funds. I had not received any notice or warning that this was going to happen. Just out of the blue, all my money is gone. (I found this out while trying to buy groceries for me and my kids.)
They have left me with absolutely no money! When I called to inquire about it, I was told that I had to pay my entire balance in order to get my funds released. Because the balance is large, I asked to make payment arrangements and they refused.
I can't imagine that this is legal, but am sure that Chase is using some loop hole in order to get away with it.
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