I had an auto loan with a bank back in 1998. My truck was repossessed. I have not had any more correspondence from that bank until two years ago. I bought a new truck with the same bank and was approved. I transferred that loan to another bank. I have a checking account with them as well. I recently deposited $600.00 to my account. The bank took $360.00 of that money stating it was for my loan back in 1998. I have had my checking account with them for over six months. This loan is no longer on my credit report. I live in Alabama, and from what I understand, they cannot do that. The bank said it was another company that took the money out of my account. Can they do this? I have bills and I am waiting on my federal refund. When it comes, I'm going to the bank and try to withdraw it and close my account with them. Should I contact a lawyer?
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You'll have to discuss that with an attorney. For this amount, have that first consultation free, otherwise you'll be liable for more in attorney fees than was taken from your account. Ask that attorney if there is a time requirement under which the debt "dies" and can't be collected any longer. You'll also have to know if there was ever a judgment against you for that debt. Then you'll have to know if you can pursue the case on your own, or if you want to engage the attorney. A big question is, who'll pay the attorney bill, so ask that too.
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You'll have to discuss that with an attorney. For this amount, have that first consultation free, otherwise you'll be liable for more in attorney 