loan,banking and credit
*Loan,banking and credit>>>bank account

Is the bank allowed to take money from your account without asking?


I co-signed for an auto loan....shouldn't of done that. The borrower is not paying at all and banks call me all the time and even took $400 from my account without telling me.

What a nightmare. The borrower is not giving up the car and is not telling where it is.....nothing notta zip

while signing it, u have read what clauses were there,if the clause is not there then bring it notice to the bank,4r borrower go to cop launch a complaint.
I am in Uk but what I have seen of the judicial system in USA I think you only route is small claims court. They will make her/him pay their half and tell where the car is. Never ever co-sign something with anyone you ain't married to! Unfotrunately you are still liable for half the payments as you signed but only half. As for the bank yes they can take payments out as you had signed the loan and are responsible for your half.
Mind and take all your evidence to the court every last reciept note anything to do with the loan that you and the other person signed.
good luck
Yes they can. You signed for a car, for someone else. So if they don't keep up their end of the bargain, then you have to pay the debt.
It all depends on which jurisdiction you live in and what terms and conditions you signed when you opened your bank account.
yes because they sometimes use it in investments,moreover it will help your account to have interest which will be added to your account.
In this case, when you co sign, you are in essence assuming the debt shot the principle signer default. This is legal.
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