plifter said:
i took out a personal loan recently for $2500. i made my 1st payment and when i got my second bill it said "do not send any money, your account has a credit balance". on the statement there was a $4500 payment that I didn't make. There's no chance that anyone i know paid it off for me. i've contacted the bank several times about this and they can't seem to figure it out or they aren't trying. what should i do? if i don't pay it and wait for them to figure it out can they just start billing me 5 years from now when they figure out the mistake? i'm in west virginia and the bank is in connecticut. ---matt
My response:
Tell them to send you a check for the credit balance. Put the money in an interest-bearing savings account. Don't touch it. Wait for the Statute of Limitations of Connecticut to expire.
This happened to me with a Department Store, just recently. One month, I had an outstanding balance owed for over $3,000.00, and the next month, they sent me a Notice that I had a $500.00 credit balance. I went to the store, got the money, and put it into a savings account. That was about 4 months ago. I haven't heard a word since. My account shows a Zero balance.
Hey, sometimes Monopoly does imitate real life ("Bank Error in your favor - Collect $100.00").
IAAL
