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In Debt and then Scammed
I was recently scammed into depositing $3000 in fraudulent money orders that my bank originally cleared, but reversed a week later. I am trying to pay this balance in monthly increments, but I also have a loan at this bank. Will they let me make loan payments without applying it to the overdraft? Also it's a credit union, and if I open an account at another Credit Union that is listed as a share branch, can they deny me or transfer funds over to the other credit union?
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 Talk to the financial institution and explain your situation. Tell them you want to formalize your repayment agreement on those money orders. You'd like to execute a loan contract defining what payments are due and when. It should be at a zero interest rate, if they'll do that, but this way they have better documents and so do you. This way, they won't debit your account unless a payment is owed, and you won't have to worry about running off to another financial institution. If you did that and one wasn't a branch of the other, no, they can't take your deposits in one institution to pay a debt in another without first going to court.
Published on BankingQuestions.com 9/24/08
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