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Old 10-30-2012, 04:11 AM   #1 (permalink)
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Join Date: Oct 2012
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Bank mistake customer pays!?

I was a recent loan customer at a bank. I had borrowed 1500 to purchase a camper. I recently went into the bank to pay off my loan to receive my title and sell the camper. When I walked into the bank the man told me my payoff amount, I gave him the money, he gave me all my stamped PAID paperwork, and signed my title releasing the lien. I left, sold my camper and went on with my life. Then to my surprise two weeks later I get a phone call from the bank stating they made a mistake and two weeks before I paid my loan off they accidentally posted a $380 payment to my account that I didn't make. They then proceed to tell me that I need to bring in the $380 or re-instate my loan to pay on this balance. I have spoke to the district manager and was basically bullied by him. It's not the money that is the issue it's the ethical part of all of it. The customer should not have to pay for the bank's mistake. Feedback please
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Old 10-31-2012, 09:32 AM   #2 (permalink)
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I will give both arguments to you and some paths to take, but I remember I am nothing more than an anonymous internet poster.

1. Banks Arguments
Odds are you signed a contract and you are obligated to that amount whether they made a mistake or not if you agreed to pay 1500 then that is the amount you paid and based on the facts you presented it sounds like you would have paid 1120 knowing the amount you borrowed was 1500.

2. Your Argument
From your perspective you paid what they asked and you have documentation indicating the contract was fulfilled. You can argue it is not your responsibility to make sure the bank collects their money especially since they are in the business of keeping records your simply a consumer and perhaps you thought they were giving you a break.

Likely Outcome
Realistically this is $380 dollars and will only be heard in a small claims court here is an article explaining small claims http://www.legalmatch.com/law-librar...ms-courts.html

The bank is unlikely to really pursue you here and you could just avoid paying them they might threaten a collection agency etc, but until they have a judgment they are just sending you papers which say you owe money, which don't have much effect without a judgment.

I would write them a letter send it certified mail contained with copies of the documents you received from the front counter saying you paid in full. They might take you to small claims court, but probably won't bother over $380 dollars, but if they do bring the letter you send and the documents they gave you into court. From that point it is an absolute crapshoot since there are no guarantees in court, but with documentation and a response to them you would stand a good chance of not paying anything.

However, if you lost in small claims you would likely be stuck paying an additional 65-100 dollars for court costs such as notice, etc.

If I was you which I am not I would write them a letter and let them pursue you they have the burden of proving you owe money not the other way around.

Hope that helps and good luck
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