Each month I go to the bank to pay my loan payment. Today I went to my bank to withdraw money from my checking acct and my balance was 0. The bank to which I make payments had taken my money out of my checking acct without telling me. When I called them to see why they did it, the man I spoke with said they had no record of any payments for the last five months so his bank's attorney withdrew the money on their behalf. After giving them dates, amounts and confirmation #'s over the phone as proof that I had made the payments, he said he'd check into it and get back with me. When he called, he apologized and said it was their fault, and that for some reason they hadn't been recording my payments. He readjusted my balance and then asked if the amount they took out of my checking account could go as another payment. I told him that would be fine. So my loan balance has been taken care of, but the fact still remains that they took money out of my checking acct w/o my consent- What can I do?
2007-02-14 09:59:42 · 7 answers · asked by dbdb 1 in Politics & Government ➔ Law & Ethics
sue for what ?? you reported it and they investigated it,found out they were at fault and restored the money..and now the loan is paid off ?? and you want to sue them ??? there's nothing to sue for
2007-02-14 14:30:24 · answer #1 · answered by charmel5496 6 · 0⤊ 0⤋
You have no recourse. Even though they made a mistake, it was corrected and you did not lose any money. Banks also tend to side with those withdrawing money rather than you first.
Whenever you signed to allow for your loan payment to come out of your bank account, the fine print probably also gave them permission to retrieve what is owed if you did not pay.
2007-02-14 10:14:51 · answer #2 · answered by Lisa S 3 · 0⤊ 0⤋
you have no recourse. a porn website took over $600.00 out of our checking acct, and the bank said we had to prove in court we did not authorize. eventually we heard from a law firm who filed a class action suit against the website, but not the bank, and they settled for us (w/o our permission) for $119.00. 3 years later, we've only received half. the bank said we were lucky to get anything at all because we were minors. they ignored my letters, and the only thing we could do was close our account and try another bank. good luck!
2007-02-14 10:09:15 · answer #3 · answered by rainbow 2 · 0⤊ 0⤋
Unless you bounced checks or otherwise incurred expenses- other than your pain and suffering- there is likely nothing you can do. The bank realized their mistake and fixed it. No, you can not sue them. You probably signed something giving them this power when you took the loan out with them.
2007-02-14 10:11:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Ask him to compensate you and also make sure they have corrected any info they sent to credit agencies. They admitted it is their problem, and they should compensate you.
Unfortunately, the agreements we sign for loans typically allow a company to take whatever we owe from our account - there is no upper limit. That's why you have to be careful when setting up automatic payments.
2007-02-14 10:05:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Check your credit rating first and make sure they didn't report you as non paying. If they did, you're going to have to get on them to admend that.
2007-02-14 10:14:36 · answer #6 · answered by nokhada5 4 · 0⤊ 0⤋
did it cause damages?
did they fix the interest rate?
if it didn't cause damages, probably nothing, because it is probably in your loan agreement.
did they report the NO PAY on your credit record..that is damages.
2007-02-14 10:05:52 · answer #7 · answered by qncyguy21 6 · 0⤊ 0⤋