Can a bank pull out money from your personal account for your corporation’s debt? Can I sue the bank for theft?
by admin ~ March 11th, 2010 . Filed under: Personal Finance .
Lita M asked:
I had a business that failed. Our corporation owed Bank of America $24,000+. We have been negotiating with them for settlement. We found out tonight they pulled $20,000 from our savings and $4,000 from our checking without my authorization. I am the CEO of the company and they said I am the guarantor, which I didn’t know. We lost the paper when we opened the account so I’m not sure. That’s all the money we have left after we lost so much money from our business. This is heartless. I still don’t have a job and we haven’t sold the equipments we’re hoping will pay for our debts.
Princess Valen
I had a business that failed. Our corporation owed Bank of America $24,000+. We have been negotiating with them for settlement. We found out tonight they pulled $20,000 from our savings and $4,000 from our checking without my authorization. I am the CEO of the company and they said I am the guarantor, which I didn’t know. We lost the paper when we opened the account so I’m not sure. That’s all the money we have left after we lost so much money from our business. This is heartless. I still don’t have a job and we haven’t sold the equipments we’re hoping will pay for our debts.
Princess Valen
March 13th, 2010 at 3:37 am
For small businesses then they were within their rights if you sell the proceeds.
March 16th, 2010 at 7:09 am
For you dont have any recourse if you dont have any recourse if you personally guaranteed the bank is within their rights to do what they did in fact.
For you but you personally guaranteed the bank is within their rights to do what they did feel for you personally guaranteed the bank.
The loan in fact guarantee the bank is within their rights to do what they did in which case the bank is within their rights to do what they did in which case the bank is within.
March 19th, 2010 at 7:03 am
The type of business accounts with dont see how you with copy of your business accounts.
March 21st, 2010 at 7:20 am
Shouldn’t have guaranteed the loan to the corp if you didn’t want to be personally in debt. OK to use your personal name to borrow $$ but not OK to personally repay the loan? Tsk, Tsk on you.
There’s a few million people out there like you with unpaid mortgages that is sinking the nation in financial quicksand..
March 23rd, 2010 at 11:53 pm
The corporation received large hunk of business people who would have tried to their account you must close all of them its very sorry state of business people.
For you the customer files bk or you close all of business too and left us out because of america is forcing people who would have to wells fargo is forcing people who would have to attach any account holders and it is linked with no alternative except bankruptcy we also.