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Maverick
Maverick, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 5930
Experience:  20 years of proefessional experience
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I WROTE A CHECK ON HOME EQUITY LINE OF CREDIT NOT KNOWING ACCOUNT

Customer Question

I WROTE A CHECK ON HOME EQUITY LINE OF CREDIT NOT KNOWING ACCOUNT HAD BEEN CLOSED. I REALIZED THE PERSON I WROTE CHECK TO HAD OVERCHARGED ME BY 5000. I CALLED BANK AND EXPLAINED AND WAS TOLD ACCOUNT WAS CLOSED AND THERE WAS NO NEED TO COME TO BANK AND STOP MENT ON IT. TWO DAYS LATER ANOTHER BRANCH IN ANOTHER CITY CASHED THE CHECK. THEY TOOK THE MONEY OUT OF CHECKING ACCOUNT AND THEN FROZE MY ACCOUNT TELLING ME I HAD TO DEPOSIT THE 5000. THIS CHECK SHOULD HAVE BEEN BEEN CASHED THE THE BANK SAYS THEY DID NOTHING WRONG. HOW DO I GET MY MONEY BACK
Submitted: 1 year ago.
Category: Consumer Protection Law
Customer: replied 1 year ago.
WHAT IS MY ESTIMATED WAIT TIME?
Expert:  Maverick replied 1 year ago.
I am reading your Q now....
Expert:  Maverick replied 1 year ago.
1.What state are you located in? 2.What is your understanding of why the equity line was closed? 3.When did it close? 4.Do you have written proof of the closure? 5. Do you have a copy of your credit line and checking account agreements? 6. How long after writing the check did you try to inform bank to issue a stop payment?
Customer: replied 1 year ago.
I AM IN TENNESSEE, AND WE RECEIVED NO WRITTEN LETTER OF CLOSURE OR A REASON,
I AM HAVE LOAN PAPERS, BUT CHECKING ACCOUNT WAS OPENED 30 YEARS AGO NO PAPERS
CHECK WAS WRITTEN ON SUNDAY AND BANK CALLED ON MONDAY MORNING
Expert:  Maverick replied 1 year ago.
I CALLED BANK AND EXPLAINED AND WAS TOLD ACCOUNT WAS CLOSED AND THERE WAS NO NEED TO COME TO BANK AND STOP MENT ON IT.
From the statement above, it sounds like to me that the bank was negligent in either telling you this or in subsequently cashing the check. Either way, it appears to me that the bank is liable for this mistake and they should reimburse you for your loss.
You may want to note down the dates and times and who, where why how etc of what happened, gather up your papers, and speaking with a business litigation or banking law attorney in your area and pay about $150-$200 to have him send a demand letter.
You could also send one yourself, but it may not carry the weight.
Thereafter, you may have to sue the bank for negligence to get your money back.
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