Legal Question in Civil Litigation in Florida

Estoppel

I have been participating in my 403b through my job for several years, the 403b has always been managed by company ''M'' last year I borrowed some money from my acct, and the payments are auto deducted from my checking acct once per month. In April the 403b management changed hands from co. ''M'' to Co. ''V''. No payment was deducted from my acct. Last week I recd a check from co. ''V'' which was labled Loan disbursement. Included with the check was three pages itemizing the repayment plan, the payments would be bi-weekly instead of monthly, which I thought was great. I figured the new co must have reconfigured the loan, it was great timing as my son is graduating in May, so I deposited the check on Sunday, and on Wednesday my Bank posted the funds to my acct. I then paid some bills, and purchased a grad gift for my son. On Fri the bank removed the funds from my acct I called co ''V'' they said they didnt mean to send me the check, it had been over a week, yet they had never contacted me, my checking acct is now overdrawn by $2800 and they are not willing to do anything to help me. I have read about estoppel and to me this seems to fit the bill, what should I do? HELP!!


Asked on 4/29/07, 9:33 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Estoppel

You need to read your paperwork. They almost certainly could not have your bank withdraw funds from your account without your permission. They could, however, cancel payment of the check (which happenned?). If the check was an error, you almost certainly will owe the money back; however, they should be responsible for overdraft fees and the like.

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Answered on 4/29/07, 7:25 pm


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