Bank Error So They Say

[Seekinginfo]

Alabama is our home. Simply we financed our 5th wheel camper with out of state bank. Wanted to pay off early. Sent check for pay off. Bank could not find our check so they said. We stopped payment on that check and the bank said we could auto deduct pay off from our account. We did this paid off unit. We got our title from bank shortly. Working out of town we got a call from our daughter about two months later that we had check from this bank. We assumed it was over payment of interest which we had discussed with the bank at pay off time. We told her to deposit check and she did. Next we got calls in about three months that we were behind in our payment to the bank. We made records of calls, time, persons we talk to. We told them we paid off account and they said I must have made another loan. We told them we did not even know where one of their banks were and we did not make loan. At no time was the check that they sent mentioned. This went on about every three months for about a year. Then we got notice that they were going to repo our camper. We called them and talked to the lady and told her we had our title sent by them and that we had paid off account. She said that the check that they sent was in error and we owed them that amount. We told her we thought it was for over interest payment and we would seek legal advice to call us back in two days. She said she would. We ask advice and were told to just wait and see what they would try and do. We never have gotten a call back from them and no other letters of repo. Now we sit and wait I guess. What is our legal rights and what can they do about this error if indeed it was an error. (They said the error was that they found our check and sent a check back for the check we sent but they never deposited our original check) What do you suggest??

 

[teflon_jones]

How much was this check for?

 

[DebHgn]

Your bank should have record of the amount deducted to pay off the load and you have a clear title. I don't see much they can do.

 

[teflon_jones]

Your bank should have record of the amount deducted to pay off the load and you have a clear title. I don't see much they can do.

Sorry, but this is incorrect. There is a whole lot they can do depending on what the paperwork that came with the check said. Even if they simply sent you the check with no other paperwork (very unlikely), that doesn't mean you can cash it. What if the mistake was that the check was for $140000000? Does that mean you can keep the money? No, obviously not. You had the duty to know the amount of the check and what it was for before depositing it. And they have the right to their money.

On the same note, you still have the right to get your money back that you thought this check was for (over payment of interest).