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We started a small business as a corporation and recently closed it. The corporate account had an outstanding balance of $3,082 that went unpaid for 6 months since the business closed. The business account was with Bank of America, as is our personal account. BoA debited our personal account for $1,208 after a recent deposit, causing two overdraft charges to date at $35 dollars each, with 6 more I expect. I would expect another larger debit soon. What legal re-course do I have and would a law suit against BoA do me any good?

Submitted: 708 days and 17 hours ago.
Category: Finance
Value: $9
Status: AWAITING CUSTOMER ACTION
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Georgia

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Answer

When you opened your accounts with Band of America you signed documents which, in effect, were contracts between you and the bank. In those documents, which we as customers never read, is language pertaining to what they did to you. This being the case it's unlikely you would prevail in any court action. You might want to request copies of the documents you signed to be sure they have not taken action that was not in your particular agreements.

Dennis (cut2it)

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Expert: Dennis M. Smith
Pos. Feedback: 99.2 %
Accepts: 405
Answered: 4/13/2008

NCP

Investment R.E. Broker 30 yrs. & past owner of Mortgage Brokerage Company.

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