Bank took my money, advice needed please!             Click here to Print

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#Guest - Says,

My mom has over $100,000 in debt and today I checked my bank account only to find that all of my money, including the $6,000 I had just deposited from my student loan, is gone! Her name is on my bank account because she helped me open it a few years ago (I was still a minor). Called my mom and found out they took my sister's money too. Is this legal? The check was in MY name, and that's MY money and I still need to pay my tuition. Help!
#sunnyca - Says,

Well if the you owe the same bank and your checkign or savings accoutn is in the same bank then they can take the money and not diffcult for them to fight it in the court
#Justin - Says,

Hi Guest,

This is an instance of bank account garnishment. This happens when you fail to pay for your debts on time. However, the creditor can garnish your accounts only after it gets a judgment against you in court. Do you have a judgment? Even after judgment, the creditor cannot garnish any asset immediately. He must send you a notice regarding the garnishment. If you have not received any such intimation, then you have the right to vacate the judgment and state the court that you did not receive any intimation on garnishment.

Anyhow, I would suggest you to contact a lawyer in this regard.

#carol - Says,

Hi Guest

This is a truly difficult situation I understand. However, what you can do is ask the court about any exemptions to garnishment. Check the 'writ of garnishment' and see whose name is mentioned there. If it is your mother's alone you may get back your share of the money once you prove that share of money to be yours. I would suggest you get professional help. Are you in touch with your mom? Ask her to take control and get you back your money.

#sdchargers_63 - Says,

OP...you said your mom helped you open this bank account. But...is her name on the account, as well? Have you talked to you bank to let them know the situation? But...yes..if the loans are NOT in your name, at all,..then I'm sure you can fight to get your money back. You may want to open ANOTHER account (if you can) JUST in your name.
#Jack - Says,

When more than one person is "signed on a checking account", there is a record of their social security number in the bank files. If a husband owes a debt and has a judgment againist him and the creditor garnishes the bank account, they can only take 50% of the money(husbands share) and not the wife or whomever else is on the account. The judgment is against the husband; not the wife; she is an "innocent third party" to this action and the creditor does not have a right to her share. Sue the bank that allowed this. Ask the "operation manager" of the bank why she or he allowed this and tell them that you're going to take action agaiinst them
Jack

#so29020 - Says,

I had a mobile home repoed. My fathered died and my sister bought the family house> When I got my share of the money I was told that the bank got half of my money from the house. Is this legal! The bank took my house and then took half the my money I would have made off my fathers house.
#AnyaRostov - Says,

If your Mom's name and SS are on the account there isn't going to be much you can do. Legally, the money in your account is also hers. This happens all the time. If an adult child's name is on an elderly parent's bank accounts to help them with finances and the child gets sued, all the parent's money (which also has the child's name and SS # on it) is vulnerable too. Banks really should tell people this with all joint accounts.
#e.t.w. - Says,

IF YOU HAVE MONEY IN A BANK IN A FORM OF A CD AND THE PERSON KNOWS WHICH BANK IT IS BUT WILL NOT TELL YOU BUT
THE MONEY BELONGS TO YOU WHAT CAN YOU DO TO FIND OUT WHERE TO LOCATE YOUR MONEY DO YOU NEED A ATTORNEY

#Aaron - Says,

Hi ETW,

If your certificate of deposit was left in a bank, and the term may have expired, the bank may have reported about the account to the States Unclaimed Property Department of your state. Thus, you can try to find it out from their list. They may have a list with your name on it, if the certificate had been signed in your name, else the name of the person who made the certificate for you.

However, if the account was not in your name, and you don't know the name and the bank, I don't think there's any other way to find the certificate.

#dorothykinder - Says,

I think this is a serious issue with your mom...When she had made you open an account through her, then even after having $100,000 along with her why does she need $6000. Its just a mer amount and i think you can get some help from either the court or through the bank.
#aruna26 - Says,

I think that with a good attorney, you can recover you tuition money. It's just not fair, because now, you have the legal age to manage your own account.
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Debt Settlement

#Ann - Says,

I lost my job a couple of months ago, I had enough notice to put money away to hold me over until I get another job. I didnt think it would be this long and I came to the end of my savings I had enough in the bank to pay my rent on the 1st of March and I would have had 50.00 left. After that there was nothing left I dont qualify for unemployement.
I paid my rent on the first and on the 10th went online to see how much I had left after they cashed the check, which by the way was for 1300.00
I was 500.00 and change short for my rent. GONE. I got sick over this when I found that, without any notification at all they took 145.00 out because they were investigating a women who ripped me off. THEN they took 105.00 TWICE....they claim that back in December when I called them to say I had paid this woman to do my resume and she never gave me anything that I
could use, at that time I had also gotten a refund of 210.00 because even though I had 6800.00 in my account everytime I used my debit card for 2 days the were hitting me up to the tune of 800.00 they gave me 1/2 back because that law was passed.
They claim that it was because of the 145.00 incident and I owed it to them. I have been calling them for a week now, no one will help me and everyday they are charging me a fee because
I am overdrawn because
of THEM.
Who can I call????

#Aaron - Says,

Hi Ann,

As far as I understand from your query, you owe an amount to Bank of America. However, nobody is supposed to take money from your account without your authorization or without getting a judgment against you. So, you can complain this to the Fair Trading Commission (FTC). You can also consult your State Attorney General to get a better advise on this.

Hope this helps.

Regards,

Aaron

#angie thomas - Says,

can the creditors touch any of you CD in the bank
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