0
Is a car loan company allowed to repossess and put a hold on your bank account then over draft it in New York?
Wiki User
∙ 16y ago
What did you sign? Do you have copies of all the paperwork you signed and that was ever associated with the loan?
They repossessed the car, and then put a hold on your account? Generally an ACH (if that's the way it was done) has to have your signed authorization to do a withdrawal, which is why it's important to know what was signed.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
What is the term for money kept in a checking account?
A checking account is called a "demand deposit" because it is available for transfer to another individual or company by writing a check or draft.
What is discard draft in Gmail?
"Discard Draft" means deleting a Draft Message in your GMail account.
When was Rough Draft Brewing Company created?
Rough Draft Brewing Company was created in 2011.
Is crossed demand draft is same as account payee demand draft?
yes
How many draft picks are allowed in the NFL draft per team?
Pre-Draft you may only have 10, but you may trade for more during the draft.
What is a checking account at a credit union called?
what is a chekcing account at a credit union
What is the procedure for encashment of a crossed demand draft if the drawee has no bank account?
The only way the drawee can get the money is by opening a bank account and then depositing the crossed demand draft into it. The purpose of crossed drafts is to ensure that the money is paid out only into a bank account. So, there is absolutely no way for you to get the money without opening up a bank account. Also, the name in your bank account must match the name on the draft, otherwise the draft will not be encashed.
Can apartment landlord Take money out of your account?
Only if you authorize them to draft directly out of your account.
Do bank rejects bank draft on account of spelling mistakes?
Depending on how strict the bank is, they can reject a draft on account of a spelling mistake. It depends on the bank and the severity of the mistake.
If your car was repossessed does the car loan company have the right to put a hold on your bank account then over draft it?
no the only thing they can do is take it out of your paycheck. Even In New York State
How do you write a letter to bank manager for reissue the Demand Draft?
A demand draft does not need a signature to be cashed. You can write to the bank manager explaining why you need them to reissue the draft and any pertinent information such as account number, amount, and names on the account.
How old do you have to be to have a bank account with an over draft facility?
21
