If you have a bank account with PC Financial ( savings or chequing ) any monies owing on a defaulted PCF MasterCard can be withdrawn from either of these two accounts automatically without having to obtain a court order. This is called "the right of set-off".

The "Golden Rule" in banking is that you NEVER maintain a bank account at the same financial institution that you have a loan or a credit card. If you default on a loan or a credit card, then the financial institution cannot use their "right of set-off" to recover some or all of the defaulted monies.

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Educating one Consumer at a time

Anyone that can help me out ?

I have defaulted on my PC Mastercard 18 months ago and I'm not really sure if they are affiated or not. Can PC Mastercard go into my account and take whatever money I have to cover some of the balance. Any help would be appreciated. Thanks so much.