Internet's first get-out-of-debt community - 134,000 members

Posted: Wed Feb 27, 2008 2:20 pm Subject: Is this illegal

Hi
I had a payday loan company (cashnet usa) provide me with a loan. Unfortunately, I had to default on them, and am paying them back other ways. They continue to debit the account daily, and it has run up the account to $800.00 overdraft. Since the account was over drafted, they keep sending it back. I called them and told them it was doing no one any good because there was no money in it. I can't close the account because it is my ex husbands account, and he let me use it for this payday loan several months ago. The account is at Bank of America. I deposited my paycheck in there and Bank of America sent it back telling me that this was not my account, and my name is not on it. So how can they keep adding service charges to this account from me when they won't even accept a deposit from me? Doesn't make any sense. WTH? Can anyone explain this? I'd like to report this but I don't know to who and do I have that right?

Posted: Wed Feb 27, 2008 2:48 pm Subject:

Hi jeannethib,
What happened here is that you used your ex's husbands checking account (with his permission)in order to recieve a payday loan....that is right?

Technically, and someone please correct me if need be, but I believe your rights to the account are limited to none including making deposits with checks with your name on it since you are not the account holder.

If BofA takes action to seek remedy on the overdraft, it will be directed at your ex, who is the owner of the account. BofA are within their rights until your ex takes some action to revoke the ACH drafts essentially telling BofA to deny any more ACH drafts from CashNetUSA.

I know it seems unfair, but your ex is going to have to get involved since its his account.

Posted: Thu Feb 28, 2008 12:01 pm Subject:

Yeah...he can go to the bank and dispute ALL of those charges saying he never authorized them. And when BofA investigates it, they will see that they all had YOUR name on them. And since your not an account holder, they were technically unauthorized BY the account holder. Might work. But, HE needs to be the one to do all of that.

Posted: Thu Feb 28, 2008 12:45 pm Subject:

I would think that the bank could be held liable if they were to accept a check for deposit that was made out to someone other then the account holder.

What you could do, however, is cash the check somewhere, then deposit the cash into the account.

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 134,000 members

Is this illegal

Members Area

Free Debt Counseling

Ask the community

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post