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Bank reopened my closed account without permission.

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dtomasino

Junior Member
I bought a Jeep about 2 years ago and was eventually unable to make my payments and the jeep was repossessed. The jeep was financed through Mountain Valley Bank in Mill Creek, WV. I was told by the bank that I would recieve information on whether they were able to auction off the jeep or not and what the remaining balance was after the auction. I never recieved any information. Eventually my wife, Vanessa, closed our checking account there.

I since moved to Wisconsin and haven't been able to find good work with the economy the way it is so I do a paper route in the morning and go to school in the afternoons 3 days a week. I'm also a military veteran so I was eligible to recieve education benefits through the MGI Bill. I used the MGI Bill previously when I worked as a correctional officer in WV and the account number I had set up for direct deposit was Mountain Valley Bank. The same bank that financed the Jeep.

Well since I started going to school here in Wisconsin I was supposed to be getting MGI Bill money but what I forgot to do was change the direct deposit information from Mountain Valley Bank to my current bank. Once I realized I wasn't getting any money for school I investigated and found that 2 deposits were made into my old account at Mountain Valley Bank. Apparently the bank saw there were incomming funds, reopened the account, and without me even knowing or being made aware, credited that money that was to be used for education toward the outstanding loan.

I'm also currently in the process of filing bankruptcy and that dilinquent account never came up on my credit report. So how do I know if they didn't auction off the jeep and collect the money. They never let me know anything. Is what they did legal?
 


Antigone*

Senior Member
I bought a Jeep about 2 years ago and was eventually unable to make my payments and the jeep was repossessed. The jeep was financed through Mountain Valley Bank in Mill Creek, WV. I was told by the bank that I would recieve information on whether they were able to auction off the jeep or not and what the remaining balance was after the auction. I never recieved any information. Eventually my wife, Vanessa, closed our checking account there.

I since moved to Wisconsin and haven't been able to find good work with the economy the way it is so I do a paper route in the morning and go to school in the afternoons 3 days a week. I'm also a military veteran so I was eligible to recieve education benefits through the MGI Bill. I used the MGI Bill previously when I worked as a correctional officer in WV and the account number I had set up for direct deposit was Mountain Valley Bank. The same bank that financed the Jeep.

Well since I started going to school here in Wisconsin I was supposed to be getting MGI Bill money but what I forgot to do was change the direct deposit information from Mountain Valley Bank to my current bank. Once I realized I wasn't getting any money for school I investigated and found that 2 deposits were made into my old account at Mountain Valley Bank. Apparently the bank saw there were incomming funds, reopened the account, and without me even knowing or being made aware, credited that money that was to be used for education toward the outstanding loan.

I'm also currently in the process of filing bankruptcy and that dilinquent account never came up on my credit report. So how do I know if they didn't auction off the jeep and collect the money. They never let me know anything. Is what they did legal?
Are you sure you closed your account and didn't leave it overdrawn or with a minimal amount of money in it? Did you ever get a closing statement from the bank?

If you didn't close the account properly, then the bank did nothing wrong.
 

ecmst12

Senior Member
You owe them the money, that is for sure, and you should have followed up with them when you didn't get a statement. Whatever they got from the auction, you can be reasonably sure that it didn't cover what you owed on the loan.
 

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