answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

โˆ™ 2007-09-26 02:35:18
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar
Study guides
๐Ÿ““
See all Study Guides
โœ๏ธ
Create a Study Guide

Add your answer:

Earn +20 pts
Q: Is a car loan company allowed to repossess and put a hold on your bank account then over draft it in New York?
Write your answer...
Submit
Related questions

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


What is a checking account at a credit union called?

Share draft account


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 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.


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.


Which of the following account types is considered a transaction account under the Expedited Funds Availability Act?

Checking or Share Draft Account


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


A share draft account is another name for a checking account in what type of financial institution?

credit union


How old do you have to be to have a bank account with an over draft facility?

21


What is an example sentence with the word bank draft?

A check is a type of bank draft. The Savings and Loan issued a bank draft to cover the amount. They sent a bank draft to the utility company.


Who is drawee bank in demand draft?

A demand draft is a type of check that contains the buyers account number but not their signature. The drawee bank in a demand draft is the branch of a particular bank.


What is draft Email?

draft email particularly means drafting or writing an email which is of course an old word derived from "draft a letter". email draft means, an email written and saved in drafts folder of the mail account to send it later.


Why wont a bank accept a bankdraft back from one of teir customers?

The bank cannot do that. Any customer of the bank who wants to deposit a bank draft into their account can do that. A bank cannot refuse to accept a customer's draft for deposit. You have the right to deposit it with any bank that you have an account with (unless it is a fake draft).


What account charges customers fees based on the number of checks written each month?

Share draft or checking account.


Should pros be allowed to draft college athletes before they graduate?

NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO


What system allowed authorities to draft natives to work in silver mines?

mita


Draft the minutes of first board meeting of a company?

Draft of the minutes of the first board meeting of a company should contain the names of the elected officials, constitution of the board and certificate of incorporation.


What act allowed the federal government to draft men during World War 1?

The Selective Service Act enabled the first draft in America.


What is demand draft?

Demand Draft is used by individuals to make transfer payments from one bank account to another. Demand Drafts are marketed as a relatively secure way of cashing checks. The difference between a Demand Draft and a Normal Draft is that a Demand Draft do not require a signature in order to be cashed.


What will you need to acquire a bank draft?

To acquire a bank draft, you first need the funds to be already in the account, as they are set aside when the draft is written. You may also need some form of proof as to your identity.

People also asked

In 1886 a group of national trade unions formed the?

View results

Why is this size difference important between lymphocyte red and white blood cell?

View results

Are prairie dogs an endangered species?

View results

Where in the bible does Jesus say that If you give a man a fish you feed him for a day but if you teach him to fish you feed him for life?

View results

What is president Roosevelt's ties to Georgia including his visit to warm springs and his impact on the state?

View results

What did supremacy clause take from individual states?

View results