In April I noticed an unauthorized withdrawal from my checking account. I asked my bank for a copy of the check. The bank provided me with a copy of the check. It was withdrawn by a company that I have a loan with. The withdrawal was never posted to my loan account as a payment. I have faxed all this info to the company on May 1. The only response that I get from the company is that they are still investigating. This seems like fraud to me. What recourse do I have and what action can I take against this company?.
Had you previously given any kind of authorization for drafts like this? Was there supposed to be some kind of scheduled automatic payment in April? Were you late on the loan? -- CardReport.Com - Credit Tools, News, And Reference http://www.cardreport.com/ Everything You Need To Know About Credit And Debt --
I had once given a previous authorization for one withdrawal but only one. I was not late with a payment nor was a payment due.
First, I would dispute this with your bank. Also instruct them to *not* accept any more drafts from this company on your behalf. If your bank doesn't reverse the transaction, then deduct the amount from your next payment on the loan, including a letter, and a copy of the improper draft. Also tell them that they are hereby specifically prohibited from making any more drafts/checks/withdrawals from your bank account. This certainly sounds like a legally-defined "deceptive practice." Unofortunately, your legal recourse would likely involve a lawsuit, and by the time that is in progress, another payment would probably be due, and it would be quicker to just deduct what was already paid. I suggest filing a complaint with your state's Attorney General's office and the Federal Trade Commission, and let the offending company know that you have done so. You might be able to file a police report, although it might not be taken very seriously. -- CardReport.Com - Credit Tools, News, And Reference http://www.cardreport.com/ Everything You Need To Know About Credit And Debt --
First, I would dispute this with your bank. Also instruct them to *not* accept any more drafts from this company on your behalf. If your bank doesn't reverse the transaction, then deduct the amount from your next payment on the loan, including a letter, and a copy of the improper draft. Also tell them that they are hereby specifically prohibited from making any more drafts/checks/withdrawals from your bank account. This certainly sounds like a legally-defined "deceptive practice." Unofortunately, your legal recourse would likely involve a lawsuit, and by the time that is in progress, another payment would probably be due, and it would be quicker to just deduct what was already paid. I suggest filing a complaint with your state's Attorney General's office and the Federal Trade Commission, and let the offending company know that you have done so. You might be able to file a police report, although it might not be taken very seriously. -- CardReport.Com - Credit Tools, News, And Reference http://www.cardreport.com/ Everything You Need To Know About Credit And Debt --
