Before filing a bankruptcy we often advise clients to move bank accounts to another lender where they don’t owe any debts. When a borrower defaults on a debt to a lender, that lender can offset the defaulted debt against any funds they’re holding in an account. There are restrictions on a lender’s right to setoff funds however. One of the most important is that the FCBA prohibits a credit card issuer from offsetting funds in an account to satisfy aRead more