I have a checking account with a bank and I also have a loan with same the bank. I have authorized them to take the payments out of account on the 1st of each month to pay a loan which is due on the ninth of each month. however, since I have not worked for 5 months an was not collecting unemployment. The only source of income I had was retirement pay from the military which I get on the 1st. Other payments were getting behind so I asked them to stop the payment for a month so they would not take my vechile I also told them to continue taking the payments out as usual the following month. Well, next month came, and they took out the money as prescribed per phone call but the next day came which was the second and they took out the same amount without my permission is this legal.
If I am understanding you correctly the bank took out the payment twice. I am wondering if it was a misunderstanding between you and the bank. Did they perhaps think that you meant for them to take the last months pay out also or did they do this i9n error? The best way to figure all this out is to go down and speak with them yourself.
Sometimes banks will let a payment fall to the end of a loan cycle. Say if the loan was to be paid off o 7/07/11 and you requested to move a payment to the end it would instead go until the following month. You could also ask them to do this.
Hi Guest,
I agree with Firey, there might be some kind of confusion between your instructions and their execution. You can either call or visit them and clarify the confusion. Since, you have had a long tie with this bank, I do not think they have done it purposely. So, talk to them.