Legal Question in Credit and Debt Law in Michigan
bank forgot payments
My boyfriend took out a mortgage loan from a national bank to pay off his student loans. The terms of the loan included that payments be taken directly from a checking account. While his payments to the bank have always been on time, he recently found out that the bank may have been over 90 days late in making payments on the student loans.
This has ruined his credit and it is the bank's fault. Would he have a case against the bank if he decided to prosecute and if so, what type of lawyer should he contact?
1 Answer from Attorneys
Re: bank forgot payments
You may be challanging the wrong party. Does the student company have a right to take the payments from an account, or does the financial institution have an obligation to pay from the account? I'm betting it was the former. Either way, I would think that you can collect your proofs, contact the offending party, and have them amend thier credit report to reflect the screw up for which your boyfriend is not at fault. Credit reports can be changed.
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