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Will the bank credit my account?
My name was on a checking account with my daughter, that I have been trying to close for the last week. we have a car loan with that bank and I cosigned for her. She was having the car payment electronically taken out from her account, The payment was due Nov.28th, and they were not going to let me close it till that was posted, I was getting the run around from that bank so I went to a different branch, and talked with the asst. manager. He didn't know why it wasn't posting, and said he could take the money from her account and pay it within the bank, (which I wanted the other bank to do) and then close the account. account closed finally. Her car payment is suppose to start being taken out of my account on Dec. 28. surprise, they just took Novembers out of my account. Will they give me a payment back? It wouldn't be a big problem if my daughter wasn't draining me with all the overdrafts and money I had to throw in her account to cover everything else, she lives 2 hours away and is 22. I love her dearly but she is stressing me out.
My daughter moved away to go to college, and has been doing great up until they closed the doors where she worked a couple months ago with no warning. I co signed for her car to get her better interest rates and that was all, that bank account she had since she had her first job at 16. and we both liked the fact that I could always check up on her and remind her to watch her spending if it was getting close to her car payment being due. She has always paid her own rent, ins, and household bills herself, I don't feel I was enabling, she has always been independent up until her job closed. Sure I helped her a little and she got mixed up with finances, math was never her best subject. I was trying to save myself and not let her ruin my credit thats why I closed the account.
1 Answer
- Anonymous1 decade agoFavorite Answer
The assistant manager should have known that the automatic payment would post on Monday. Since the 28th was a Saturday, the posting of the payment was delayed until November 30. If you make a payment manually, that does not stop the automatic payment from posting.
You should ask a branch manager or an officer of the bank if they can back out the extra payment and refund it to you. If they won't do that, you're out of luck.
But the bigger question is why are you taking financial responsibility for your 22-year-old daughter? The reason she is draining you is that you're enabling her to do so. And, she will never have any motivation to get her financial life in order.
Honestly, I have been on both ends of this situation, and you are not helping your daughter, even though it must seem that you are. You need to let her be responsible for this financial obligation and give her the chance to mess up. It's the only way she'll learn.
Source(s): retired credit union executive