My bank took $19,000 from my credit line to pay another customer for a car that I totaled. At first I left a voice mail message that approved the transaction, but I rescinded based on advice from an attorney. Was it necessary to have a signature to approve this transfer?
Whether or not a signature was required would be a matter covered in the line of credit loan agreement, and perhaps addressed by state law. We aren't aware of any right that you would have had to rescind the transfer if you first legally authorized it and the bank had already completed the transfer for you. Go back to the attorney you spoke to earlier to see what your legal position is.
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Whether or not a signature was required would be a matter covered in the line of credit loan agreement, and perhaps addressed by state law. We aren't aware of any right that you would have had to rescind the transfer if you first legally authorized it and the bank had already completed the transfer for you. Go back to the attorney you spoke to earlier to see what your legal position is.
