Legal Question in Credit and Debt Law in Connecticut
Bank loan
Short story. My bank released in error shares that were collatoral for my credit line. this error cost my significant capital gains issues. plus the lost of value and the devistation of my portfolio. i was not aware of the error until 3 months later because the shares were included in a legitimate sell order for other shares. the bank after 6 years wants me to split the difference on the $ 22,000 balance i owe them on my loan..but they want me to settle the loan and be responsible for the 1099 and the negative info to all credit bureaus. They have no position concerning wether or not they made any mistake since i received the value of the shares, even though i lost the value to hugh unplanned capital gains and an IRS audit as well. I offered to pay $ 8000..with no further obligation or responsibility from me . The say they have no other way to handle this issue other than to treat it as a delinquent loan. I've been paying what I owe on time for 6 years while their review went on. I paid the balance of the loan down to $ 22,000 on good faith and because I was responsible for the amount above $ 22,000. How else could they classified their screw up concerning my money?
1 Answer from Attorneys
Re: Bank loan
It sounds like they negligently handled your money. If your communications with them break down, you still have the right to sue them. This is a general answer to a somewhat general question. If you have a specific question, or want to know more information about your potential suit, you can email me at [email protected]
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