Ok i will make this quick. I was behind in a loan to Chase bank. They had called several times and sent 2-3 letters to demand payment. Just got a letter 3 days ago and was going to call them. Never anywhere in this letter did they say they would take all monies owed from my checking account without telling me. Well that's what the did. $14,000. Now i have checks bouncing all over the place. They took the money yesterday and never informed me. The person at the bank said to bad you owed it. I asked if it was even legal and they said i should have read the loan papers better when i signed them in 2005. The lady that signed my letter i just got was not in for me to speak to but she would get back to me in 72 hours!!! No money in my account - checks bouncing- but she will get back to me in 72 hours (whick means Monday) but this is the weekend. Is this legal? If i demand the money back do they have to give it back?
ok, so I need to ask. Is this a Chase checking account? Or did they have a court order to seize this checking account?
If it was a Chase account, then yeah it was in the loan papers and legal. you can still file a complaint with the OCC. However that will not help you this weekend.
If this was Chase Checking then I wonder if you can get the bounce fees waived.