Legal Question in Business Law in Texas
Unauthorized bank action
Bank of America pulled out $20,000 from our personal savings account and $4,000 from our checking account without our knowledge. We had a business that failed and our corporation owed $24,000+. Can we sue BA for theft? We were negotiating with them prior to this action. It's not like we had malicious intention to not pay them.
3 Answers from Attorneys
Re: Unauthorized bank action
They can probably do this under their contracts with you. Sorry, but are definitely not the only ones going through this.
Re: Unauthorized bank action
First thing, get ahold of a copy of the contract/agreement you signed with the bank when you first opened your account(s) and check carefully to see what all you agree to (i.e., the bank taking setoffs against your accounts). Also check whatever change in terms and conditions notifications they might have sent you - in hard copy and/or online - to see if their offsets are covered. Also, simply ask the bank to show you what document(s) they are relying on as justification for taking the actions they did. Once you have this information, you will be better able to decide what to do next.
Re: Unauthorized bank action
Based on what you have written, you should review the specific terms of the agreement that was siged between you and BOA. Dependent upon the specific terms, they may have the ability to collect debt by withdrawing funds from the account. If my local law firm can assist you with this legal issue or any other legal matter, please contact my paralegal Tina ([email protected]) to arrange for an initial consultation.
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