Same situation but...

[Phonso]

I am in the very same situation with a Credit Union in Ohio, I was one month late with a loan payment, they repoed the car and sold it to Auciton. One year and few months later, They empty my savings account 3 times without notifying me and said it was for the car loan. Is this legal?

 

[Michael Wechsler]

Originally posted by Phonso
I am in the very same situation with a Credit Union in Ohio, I was one month late with a loan payment, they repoed the car and sold it to Auciton. One year and few months later, They empty my savings account 3 times without notifying me and said it was for the car loan. Is this legal?

With the right paperwork, absolutely. I've done this before -- in New York you enlist the aid of the Marshal's office and freeze the bank account and seize the money to pay for the service and the debt. If this weren't allowed then people just wouldn't pay their bills and continue to wrongfully keep their money in savings at the expense of their creditors.