I was one month behind on a loan payment and was contacted by the collections department. I had set up a chain of automatic withdrawals from our personal checking account and assumed that the missed payment was scheduled for withdrawal. I spoke to the collections agent and shared my misunderstanding with her. I agreed to send a check for the past due amt., fee, and next payment before the due date. My husband owns a record label which is an LLC. His business account is with Capital One Bank which is the holder of the loan that is under both of our names. I spoke to the agent on the 29th and told her I was sending payment immediately in order make good on the loan payment I missed. On the next day, my husband was placing an order for business equipment using his LLC account and his debit card was declined. He was confused because funds were available. When he called Capital One he was informed that nearly 500.00 was drafted from the account. That account information was never given to Capital One at any time to make payments on this loan. The account used was with another bank. The funds were returned and we were told that someone at the bank approved the transaction. What legal rights do we have?
Unauthorized withdrawal
Hi ladybugscbs,
You need to first close this account of yours and open a new one. Your bank already knows about the situation. So closing this account will be much easier for you. One more thing is that from next time never give out information on your account.
Other than this you can also complain about this to the Federal Trading Commission (FTC).
Thanks,
Aaron
Unauthorized withdrawal
Hi,
Can you tell whether or not you have complained about this to the State Attorney General?
Thanks
Unauthorized Account Access
The information for account that the funds were removed from, was NEVER shared. It is a totally seperate entity from our household finances. The only way they could have known about his LLC account is if they fished for it. That has to be an invasion of rights. The account is now closed. The irony of the situation is that a letter informing us of this withdrawal was received yesterday. 5 days after the fact. You know Capital One Auto finance did the same thing without notification for a payment that was sent and cleared my account but they did not have record of it. Amazing!!! I had to get my bank to fax record of the cleared transaction. In the meantime they charged me late fees for a payment that I made 3 months before. After spending day after day on the phone asking them what amount I need to clear the account of these crazy fees and getting repeated confirmation from the representative that my normal monthly payment is what I need to submit they are changing their tune. They are reducing my monthly payments because the previous month was over paid yet they claim I have unpaid late fees. I call I ask what my payment should be then hang up and drive to the branch 5 minutes away and BAMMM the continue to claim I owe a 135.00 late fee that was added to payments month after month. The rep claims that over payment goes to the next month and is not applied to late fees. How the heck do they expect it to go away if no matter what I pay it is never applied to the fees. INSANE WHAT DO I DO???
I have never been in a situation like this before. I missed the payment out of shear misunderstanding. I think I am at the point Capital One that I will complain to a higher power. What direction should I take with this? I paid the darn payment and late fees but they violated our privacy by obviously digging for information and the whole idea of an LLC is to prevent sueing of the LLC for personal debt and sueing us for the debt of the LLC. That is why he paid a lawyer to legally create his company. Did not want to risk loosing personal assests due to company losses. The company is fine as long as Capital One keeps their hands out of the company assests. Looks like he's gonna call that lawyer. If they did this to us, who pay on time usually more than the amt due, can you imagine those that have suffered lose of wages or medical set backs!
reply
Hi,
Complain about this to your State Attorney General. Have your payment receipts ready for disputing this debt.
Thanks,
Aaron
HhDEShKqlOu
piMscz Say, you got a nice article post.Thanks Again. Awesome.