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I paid off my mortgage with GMAC on July 30. On July 31 a monthly payment was auto debited for 2164.69. This is an overpayment. A first I was told by GMAC that the check was in the mail. When that did not happen they told me the money was electronically wired to my checking account and I should have received it by Sep 1st. We then had a conference call with BOA and verified that the funds were not wired into my account. According to the last supervisor I spoke with (Katrina(NNN) NNN-NNNN at GMAC the money was sent to the Federal Reserve and it is the responsibility of Bank of America where I have my checking account to initiate a request for the funds. Can you believe it?
State/Country relating to Question: Washington Already Tried: Multiple telephone calls to BOA and GMAC
It's outrageous, but, unfortunately, not surprising that you would be treated like this by both GMAC and your bank.
When a wire transfer is initiated, it is possible for it to remain in "limbo" unless claimed by your bank. Thus, there may be some truth to the situation and you should talk with your bank about that fact. GMAC should be forthcoming with the transfer details to assist you in making that claim.
Still, the unauthorized withdrawal from your account is actionable. If they have returned the funds, there's not a lot you can get out of the dispute, except satisfaction that you've given them a black mark. If that's enough for you, then you can file you complaints here:
http://www.ftccomplaintassistant.gov/
Please let me know, if you have follow-up questions.
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Attorney
Attorney and small business owner with 10 years experience in the general practice of law.