can anyone tell me if it is legal for my bank to close my checking account and write a loan out of my name, without my permission while I am going thru a divorce?
2006-07-25 16:17:57 · 10 answers · asked by citisat 3 in Business & Finance ➔ Personal Finance
This does not sound legal. Don't depend on answers here. Ask your divorce lawyer to check into this ASAP.
If the loan was for an asset, your soon to be ex may be trying to get more than a fair share.
Then again, maybe there is a reason your ex is being this way... looking at your other questions...
http://answers.yahoo.com/question/?qid=2...
2006-07-25 16:45:47 · answer #1 · answered by curiouschick18 4 · 0⤊ 0⤋
Yes, it is legal for a bank to close your checking if and ONLY IF:
- it is considered as mishandled, meaning you have issued checks against insufficient funds more than the allowed number of times given by the bank as per their terms and conditions, which you signed upon opening of the account.
- the account is used for fraudulent activities.
- there is a court order to do so, that is if the account was part of a court proceeding.
Other than the above, the only other way to close the account is for the account owner/s to withdraw the remaining balance of the account. If you opened the account as JOINT AND, with your wife as the other signee, both of you have to affix your signatures in order to withdraw/close the account. If it was opened as JOINT OR, then either you or your wife may withdraw/close the account. This may apply to loan applications as well, depending on bank policies. I believe that could explain why your wife was able to write a loan in your name. In my country, banks require both signatures of husband & wife on the loan application.
I'm not familiar with divorce proceedings, what happens to the couple's account/s while the divorce is being processed - if the accounts are to be frozen or not, etc. You may ask your divorce lawyer on this so you'll know how to handle the situation. Also, I think it would be better for you to inform your bank/s (if you maintain account/s in more than one bank) regarding the divorce proceedings so they can act accordingly, i.e. inform you first about any withdrawals being made by your wife. Sometimes, having good relations with bank personnel particularly the cashier and tellers (as they directly handle the transactions) will pay off in situations like this. They will surely inform you if your wife is right there in the bank making a withdrawal.
Hope this helps. :)
2006-07-25 21:57:23 · answer #2 · answered by Dark Beauty 2 · 0⤊ 0⤋
No, I dont think so. The only way ANYONE can touch your bank account (if it is a single name account) is through a court order. If it is a joint account with someone else, they can take money out or deposit it until either the court orders a freeze on the assets or the other person depletes the funds.
The bank cannot force you to take a loan of any kind. You have to agree by signiture that you are responsible for the loan, and since I assume you havent they are not legal doing so.
2006-07-25 16:23:35 · answer #3 · answered by billydeer_2000 4 · 0⤊ 0⤋
You signed a freelance so the solutions to how the payloan personal loan center pursues action must be spelled out on that settlement. i don't think of it is smart to close your account because it fairly is an similar as writing a foul verify that would want to be considered against the law. i'm no longer attempting to scare you. the percentages are you gained't finally end up in penal complicated yet might want to finally end up in court docket and purely upload for your debt. verify with a shopper credit counseling provider for loose suggestion earlier doing some thing on your own. the information superhighway web site less than is to a non earnings corporation that regulates the valid shopper credit counseling agencies on your section. click to the "take the first step" button for a company close to you. honestly they have run into your challenge numerous cases because those payday personal loan places are throughout ... charging four hundred% pastime and getting away with it. it truly is time for pro help to get out of the capture yet being a criminal settlement, you want criminal suggestion:
2016-11-26 00:11:00 · answer #4 · answered by ? 4 · 0⤊ 0⤋
I'm pretty sure it depends on if you live in a community property state. Here in Wisconsin my husband who I was divorcing had access to my bank accounts. Was it your husband? Did you 2 have a joint account? If your still unsure, contact a lawyer.
2006-07-25 16:22:20 · answer #5 · answered by fennamason 2 · 0⤊ 0⤋
If you had your name along with your wife/husband's name on the account, yes. Each one has the equal right to do whatever they wish with the account without the other's consent, because each of them has given the other an implicit authorization to do so.
2006-07-25 16:23:37 · answer #6 · answered by tkquestion 7 · 0⤊ 0⤋
Heck no it's not legal and I would confront them about it right away!
Unless... did the judge order something to this effect? If so, you should have received paperwork on it that you would have to have signed. Anyway, look into it.
2006-07-25 16:21:51 · answer #7 · answered by Jylsamynne 5 · 0⤊ 0⤋
if it was a joint checking account, either person on the account has the authority to close it out and withdraw all the money. what do you mean by "write a loan out of your name"?
2006-07-25 16:21:21 · answer #8 · answered by AMY 4 · 0⤊ 0⤋
Well, it sure sounds illegal. However, I can't help but think that if you believe this has happened to you, then you are mistaken in some way.
2006-07-25 16:24:47 · answer #9 · answered by aaupthemeggs 2 · 0⤊ 0⤋
Most likely if they did it already. Did you read all the fine print when you opened your account?
2006-07-25 16:21:48 · answer #10 · answered by eonetiller 4 · 0⤊ 0⤋