I have recently attempted to pay off my car finance, but had to cancel the bank cheque due to my account going below the cheque amount, but the car finance company have sent me a letter saying that they have received payment (standard settlement of account letter) - but the money is still in my bank.  So far a month has gone past and I have heard nothing more, if/when they eventually realise that they have made a mistake can they still reclaim the money from me?
133352
Yes.\n\nAnd morally, since you know you still owe them the money on a contract that they upheld their end of, you should bring it to their attention, pay it off, and stop trying to be a thief.
159433
Just make the payments and it stays yours. Fail to do so and they will take your car, determine that it's not enough to cover the loan due to depreciation and then you will still owe them money! So pay it off! And if you do have a problem go to the bank and they might work with you by just letting you pay the interest for a month or two as it is cheaper for them to do so than reposses your car.
228247
There are laws concerning repossesing vehicle, but the laws generally deal with who can do the repo-ing and when they do they have to report it to the police. (This varies by state, check your local laws to be sure.)\n\nAs far as when the company can reposses, you will have to refer to your contract. Most auto finance contracts state specifically when collection and/or recovery efforts can take place.\n\nMost contracts state that when you are late (even 1 day), you are in default (you didn't hold up your end of the bargain). Most of the time, any time you are in default, the company reserves the right to recover the vehicle. This is a very good reason to READ THE CONTRACT BEFORE YOU SIGN IT.\n\nThe good news is that the finance company really doesn't want your vehicle, so they will work with you, most of the time, to resolve defaults. Most finance companies offer "skip a payment" plans, or something to that effect so that if you know you are going to have a problem with one payment, you can call them up and ask to put that payment at the end of the contract (this will cost you more in interest).\n\nI would guess that if you are current on your payments, they will not come and take your car. But, you could always call and ask them to be sure.
73630
When you took out the loans you probably signed something stating that if you do not pay this loan by this date, you give authorization to withdraw the funds out of your checking account automatically. You should read the disclosures that company has. As for your bank, they can not do anything because you gave authorization for that withdraw when you gave them your account number.
347977
Was the deposit in cash?  If it was a check or money order, obviously you could present the cancelled item for verification of the correct amount.  Good luck.  You would think that the stamp in the passbook, which the bank entered, would be as good as a receipt, but I don't know for certain.  Actually, I didn't know they still issued passbooks.
115272
i work in finance, dealing mainly in lending. lenders are legally bound to follow certain rules. one of those is that they cannot lend money to customers that cannot afford to make the repayments. there is a little grey area, as different companies have different criteria. if you are in the uk, this is all covered by the consumer credit act 1998, and i would recommend that you contact the Financial Services Authority. this is the governing body for all financial companies in the uk. they will investigate, and will remain impartial. they will be able to give you better advice for the specific problem you are facing, though i have to say it's not very sensible to take out a loan when you know yourself that you cannot pay it back. having said that, they still have responsibilities, and i'd definitely check into that if i were you.
412637
If you pay the cheque into your branch the bank will credit your account, but that money will not be cleared - i.e. they will not pay interest on the amount and, say you had a zero balance before the cheque was paid in (and no overdraft limit) you will not be able to draw that money out. Depending upon the bank, you will have to wait anything from 3 to 10 days for the cheque to clear - although I recently saw one bank advertising that they will pay interest on cheques deposited from the same day. The reason that you have to wait for the cheque to clear is that the cheque is sent, through the clearing system, to the bank/branch on which the cheque is drawn and when it reaches them, they have the option not to honour the cheque if it was not guaranteed by a cheque guarantee card. They can do this for a number of reason - insufficient funds in the drawer's account, out of date, wrong signature etc. etc.
582522
Ordinarily when there is a judgment entered in the court record, that is what is legally binding.  The company will have ensured that if the payment was not in full, then they have the right to charge reasonable interest until it is paid.  The Court would have accepted this and it would be part of the judgment against you.
537708
Did they put the money into your acct and then you wrote checks when you knew the money was not rightfully yours?  \n\nSomething doesn't make sense.  I get confused because you said 'the checks didn't clear'.  What checks?\n\nIf its not truly your fault - you can easily get the bank to investigate and correct the problem.\n\nBut if you wrote checks on cash that wasn't rightfully yours (even if the bank did place the money in your acct) that's your fault.
308426
Technically IC Systems is liable, but you'd probably have to go to small claims court to make them cough up.  \n\nMy advice to you is to change your bank account number right away so they can't dip into it any time they like.  (This is the only dependable way to stop unwanted ACH transfers once you have given your permission for the withdrawal.)  Then set up other payment arrangements with them.  While you're doing that, you should tell them you're reducing the amount you owe by the $120 in fees they cost you.  Put that in a letter to them, and pay the account down until there is only $120 left.  Then stop paying.  If they continue to come after you, refer to the letter and point out that you have a legitimate dispute.
262350
It's a scam. Go to you bank and talk with the manager and they will let you know what to do from there. I am a teller at a bank and have seen this sort of scam a lot. If you do this it will be your responsibility to pay the bank back for the money lost ($5000).
655966
None. You know how a regular bank will credit your account if you deposit money and then deduct your spendings and perhaps save you from overdraft?? Well, Credit Unions work opposite, they deduct your spendings, charge you if you used too much money, and then clear your deposit. How's that for someone who wants to "help" you?
356566
I am really surprised at the wrong information that was given to you here. It is not true that paying off the account will allow it to be removed from the credit report any faster than if it is settled. The opposite is actually true in many cases. Negative information is kept on the credit report for seven years from the start of the last delinquency. If you catch up at one point and then get behind again, this will start the clock over. If you settle the debt, then there is no restarting of the clock.\n\nIt is also not true that a settlement will necessarily keep you from getting credit for years. Most loans are based strictly on your credit score. There is no appreciable difference in the credit score of someone who paid off a debt in full and someone who settles the debt as long as they happen at the same time. Much more important is how long ago the delinquency was. If you have to wait to pay it off, it will have far more impact on your credit score.\n\nThe money that you save by settling the account can be used to help you financially now and to help you rebuild your credit. Further, you can negotiate how the company reports the debt to the credit bureau in your settlement offer. You can have them just report a zero balance and not report that it was even settled. I have done this for many clients.
59068
They made a mistake at the bank, it happens all the time. Just take it back to the bank and explain the situation. They'll issue you a new one.
426735
"well the agreement that was given dose say "as is" and that keven would help fix anything wrong with the car up to 90 days"\n\nThat answers the question for you. There was an agreement that stated "as is" ... no, you couldn't get the money back and you wouldn't win in small claims court.
36963
I can tell you from experience, bill collectors will call at any time and any day. \n\nCall them back and advised them you paid it. If there's a question about that, let them know you will send them a copy of the check once it has cleared (if it hasn't yet).
435550
If it's too good to be true, it probably is" as the saying and you say.  \n\nYahoo! finance does not do this.  They state different companies do this, craigslist, ebay, google.  They are not a middleman.  \n\nWestern Union is your tip-off.  A person only has to have their name on the money and can pick it up.  They don't even have to show ID!    So if you send it to Yahoo!finance, care of Andrew Smith, he gets your money and there is no traceability.  Bye -bye money.  \n\nI would shut-off all contact immediately.  I played a game with an Andrew in the UK on craigslist about 6 months ago for a $40,000 car he was offering for $14000.  Same story as yours above.  I told him the only way I could pay him was with a certified cashiers check for $19000.  Use $2000 to cover shipping and I need to have the $3000 over that sent back to me.  I reversed the situation back on them as to what they were trying to do to me.  Never heard from him again, but I reported the e-mail address to yahoo at abuse@yahoo.com and to craigslist, who promptly removed the ad.\n\nAnd they can give you a tracking number easily.  "I have shipped the vehicle via Universal car shippers out of London.  Your tracking number is bs1423-34v-23fd-3432."  How do you know if that's real?  You are only going to check it when you don't get the merchandise.  \n\nContact a customer service person at Yahoo!finance and ask them if it's legit.