Someone made a mystery payment on my auto for $17,700, leaving my balance at 3000. The bank says that it's legit, so if I pay it off, close the account, and trade the auto for something else and they find out that it was a mistake or something, can they come after me for the $17,700? I've told them that I have no clue where it came from, but the bank insists that the money is where it belongs!
Banks are generally allowed wide latitude in correcting errors, and it's possible that your bank could discover an error and pursue you for the amount of the error. In this case, though, if you paid off the car note, get the bank to sign an agreement that it has checked its records and that the payment in question is correctly posted.
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Banks are generally allowed wide latitude in correcting errors, and it's possible that your bank could discover an error and pursue you for the amount of the error. In this case, though, if you paid off the car note, get the bank to sign an agreement that it has checked its records and that the payment in question is correctly posted.
