Question


WE

My bank who I also have a loan with took my entire paycheck $1,900.00 out of my checking WITHOUT my approval.?

I have been unemployed for over 1 year, and behind on all credit cards. I signed up with Consumer Credit Conseling Service, the first withdrawal by them and payments to all creditor was to be today Nov. 3rd. I got my first full paycheck on Nov. 1st, I just started working one month ago. The bank, who will remain nameless, took my entire paycheck $1,900.00 with a withdrawal from my checking account. I have no money for food, house payment, or car payment. I have a personal loan with the bank, am behind $2,000.00, and I told them I was using a debt management plan to pay them back. No letter, no phone call, nothing, they just wiped out my checking account, and left $1.00. Can they legally do that? Can I do anything to get my paycheck back from them? I am desperate. Highwayman, sorry it happened to you too. I only get paid once a month. Can the bank also take it out from a different bankif I open a checking at a different bank? I don't want to take any chances. Judy B, yes the bank loan was part of the debt management plan with CCCS. Additional QUESTION: If I set up direct deposit at another bank, called Bank2, can Bank1 take my direct deposit paycheck from the new account and the new bank2? Bank1 overdrafted my accounted by taking my entire paycheck. If I open a checking account at Bank2 I was told that I am referenced by social security number, and that Bank1 has authorization to take my money from my account in Bank2? Is that true? If so, I will just get a paper paycheck from now on.

3 weeks ago - 4 answers

Best Answer

Chosen by Asker

No sorry. I have been down this route already. My best advice ie to cut off any direct deposit you have with this bank. At least this way when you get your next check they wont take that too. I actually had an attorney tell me to do this. I had 2 seperate accounts with the same bank. I defaulted on 1 account. When that account went into collections I lost all the money from the other account. This happened the daay after I spoke to my attorney. My debt management plan = Bankruptcy. Good Luck P.S. I have also owed a bank money and cashed a hard check at the counter and they took some too. Wal Mart will usually cash your check for 3 dollars.

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by Highwayman

3 weeks ago

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Other Answers

Did you call the bank? Was the bank loan also part of the Credit Counselling? The withdrawal may have been an automatice computer thing, reversible by a live person at the bank if the bank loan was part of the credit counselling plan. You shouldn't be making house payments, car payments now anyway, those should be part of the credit counselling. After you call the bank, call the Credit Counselling Service too; they may be able to sort things out for you.

by Judy B- 3 weeks ago

That is the problem when you have a loan with a bank, fall behind and all the sudden you put money into a checking account at the same bank.... guess what.... they can and will take what you owe them. You are depositing money at the same bank where you are behind in making payments.... and they look at it this way.... you are making a payment whether you like it or not. And no... they don't even have to "warn" you about this practice. The worst thing you did was tell the bank about your debt management program.... that is almost as bad as announcing a bankruptcy and then handing over money to them in the hopes they won't touch it. The bank's excuse: If you have an account that is "overdrawn" then yes, they will take it from another account that has money in it.

by Reena- 3 weeks ago

If you owe them money then of course they can do that. If you want to continue not paying them the money that you owe them then cancel the direct deposit.

by James- 3 weeks ago