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Annuity Overpayment

  • Thread starter Thread starter L. Rosenthal
  • Start date Start date

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L

L. Rosenthal

Guest
I was just informed by an accounting firm that I was over paid on my annuity. Do I have to pay them back?

Background: I thought that the two annuities were paid in full in November of 2000. I called in October of 2000 to verify. I was informed at that time that the annuities would continue for 5 years. This information was verbally given to me over the phone and I do not no who I spoke with. I just received a letter from an accounting firm stating that the first annuity was over paid by 9 months. I called the Society this morning and they told me that they made a mistake. That the person that handled the accounts retired in March. I questioned why the computer didn't pick it up and they explained that they were changing computers at that time. Do I legal have to pay back this money? If not, can they hold the second annuity hostage? I live in Florida and the account is in PA.

[Edited by L. Rosenthal on 02-26-2001 at 01:05 PM]
 


ALawyer

Senior Member
Probably. If it was a real mistake, and you received a payment that was not yours, and the statute of limitations has not run, you'd owe it back. If the bank teller handed you an extra $1,000 would that money be yours? If not, why would the extra annuity payment be yours?
 

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