Overdraft Account (KMH) Is Executive Income?

We are able to use bank cards, credit cards, account cards and KMH accounts for our cash needs, daily payments and purchases. Commonly used bank and credit cards are the tools that help us in all of our transactions. You can perform all your transactions with your cash, account, credit card and limit on your KMH account . Overdraft Account (shortly known as KMH) means that our bank account will be negative.

That is, within the limit set by the bank, we can make transactions and withdraw money even if there is no money in our account. In this way, we can support our budget by using the KMH account for our cash needs and urgent shopping expenses. This type of account helps us meet our cash needs with appropriate interest rates. However, another question mark about these accounts is whether they can be applied to enforcement and foreclosure transactions. Overdraft Account Execution income? KMH account is put into execution? Information about foreclosure transactions in the KMH account .

Overdraft Account (KMH) Is Executive Income?

Overdraft Account (KMH) Is Executive Income?

The KMH limit defined in your account can be applied in a variety of ways. For example, while different applications are made for retirees, banks can come across with different applications for salaried employees. Retirement accounts at ODA as set by the salary history, in the person salaried employees (in line with demand) overdraft accounts can be set in the same way. The collection date of the KMH account can be matched to your salary date and this debt can be collected automatically when your salary is deposited. Overdraft Account (KMH) executive income?

However, KMH accounts are credit products just like credit cards. As you can understand from its name, overdraft accounts provide cash withdrawal and usage within the limits offered to the customer by operating certain interest rates. However, this limit does not replace your money because it does not mean cash. Although this limit is defined in your account, there is no credit / debit when you don’t use the limit (no spending is incurred). Therefore, enforcement proceedings cannot be made.

Foreclosures Income KMH Account?

Foreclosures Income KMH Account?

Although the KMH account limit means a cash that you can use at any time, it is not yours unless you use it. However, the withdrawals made from the overdraft account will be reflected in your account and you will become a debtor. Since this money is only a limit, no execution can be made because of bank or other debts. However, if your balance on this account is not negative, plus a balance, E-Foreclosure may be applied to your account due to banks or tax debts. E-Foreclosure inquiry transactions can be done again via E-Government.

From all this, we can say that foreclosures can be applied to your time or demand accounts. However, this foreclosure transaction is realized over your cash at the bank, not over the limit.

How to Execute the KMH Account?

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There is another misunderstanding here. Banks can initiate legal follow-up proceedings if you do not have a debit to your KMH account . There is a 3-month legal period just like credit cards, and when this period is exceeded, banks can initiate foreclosure transactions. However, this foreclosure process may proceed as other banks or physical foreclosure transactions, not through the KMH account .

If the debit is not paid in the KMH account, the executive income?

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If you do not pay your KMH account debt on a regular basis, your debt will be multiplied by interest, and you may be asked to make higher payments in the future. If you do not have an extra request, since the payment dates are usually the end of each month, the payment dates are also credit products. In case of non-payment, foreclosure transactions can be initiated by the bank and blocked transactions can be applied to the account.

At the same time, just as in credit cards, overdraft minimum payment amount is in debt, you can pay the minimum payment rather than pay the entire debt when you pay. The minimum payment is actually the monthly interest rate of this KMH account . If you don’t want the account to be delayed, you can keep your account in order by paying at least the operated interest rate.