428 – Banks Can Take Your Money Without Warning (Right of Offset)

Some of our clients get the unhappy surprise of seeing a zero-dollar balance in their bank accounts because the bank took their money. Yes, this is legal. It’s called the right of offset. If you owe the bank money and you’re behind on payments, they can clear your bank account, without warning. How do you avoid this happening to you? Enter Scott Terrio. On today’s podcast, Scott and Doug discuss why, how, and when the bank can exercise their right of offset and how you can avoid this, even if you can’t afford to pay your debts as they come due. Tune in for lots of practical advice!   Related Links:   What is the Right of Offset and What Can You Do About It? https://www.hoyes.com/blog/what-is-the-right-of-offset-and-what-can-you-do-about-it/ Why Do I Need to Switch Banks? https://www.hoyes.com/blog/why-do-i-need-to-switch-banks-i-love-my-bank/