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Can I take legal action against my car loan company for unauthorized transaction on my debit card?

Elwood, IN |

We bought our car through a buy here pay here in December 2010 to help build our credit back. We are down to the last $800-$600. Yesterday my husband authorized a payment for $158. We are paid biweekly so this was 2 weekly payments of $79. However they charged us $240. We have called several times & no one can give us an explanation why. They are also telling us that they cannot refund us until Monday, maybe. They said they need to discuss it with their corporate office. This has left us with around $20 to get through the weekend. My husband needs to get to work & we have our kids to care for. So this has put us in a place to either borrow if we can or overdraft our account. Is there anything I can do?

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Attorney answers 1


You have a variety of remedies. 1. You can call your bank and dispute the transaction as unauthorized. 2. You can bring legal action if you would like, but there's no guarantees you will be successful. It will cost you money to bring suit, serve the bank, and litigate your case. 3. You can wait until Monday and see if they credit the funds back to you. If you don't pay the loan as agreed, you will have to deal with any ramifications of delinquency or default. I understand that your finances are tight, and the lender may have made a mistake, but I'd like to pose a hypothetical question for you to think about. How much time and money are you willing to spend to rectify an overcharge of $82? The answer to this question will help you choose a course of action. Good luck.

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