1694
18-11-2008, 11:44 PM
http://goldismoney.info/forums/showthread.php?t=323254
I have a 3 year old home equity line with National City Bank that has never had a late payment. I have the payments set up to auto debit out of a business checking account at another bank. It's a 15 year loan.
I owed $165k on it down from the initial $200k.
This morning i see a debit for $165k out of one of my accounts from National City Payment. This is the account from which i send payroll to my employees and other biz expenses, so this will be some bad news for my staff of 120 people this week.
I filed some sort of request for information with them this morning over the phone that will take 10 days for them even to tell me why such an amount was debited.
I figured maybe one of you guys would have heard of this happening lately...
I know they are probably pulling tricks like this all over the map to get in a better cash position.
I am fuming right now. Lawyer is calling me back after reviewing the terms of the loan.
Looks like loans are suffering margin calls ala 1929. Full story in the link, they called in this guys loan without telling him and emptied one of his other accounts that they had access to to cover it..
Don't let them steal your assetts, remove deposits cancel any access they have to any other accounts you have.
I have a 3 year old home equity line with National City Bank that has never had a late payment. I have the payments set up to auto debit out of a business checking account at another bank. It's a 15 year loan.
I owed $165k on it down from the initial $200k.
This morning i see a debit for $165k out of one of my accounts from National City Payment. This is the account from which i send payroll to my employees and other biz expenses, so this will be some bad news for my staff of 120 people this week.
I filed some sort of request for information with them this morning over the phone that will take 10 days for them even to tell me why such an amount was debited.
I figured maybe one of you guys would have heard of this happening lately...
I know they are probably pulling tricks like this all over the map to get in a better cash position.
I am fuming right now. Lawyer is calling me back after reviewing the terms of the loan.
Looks like loans are suffering margin calls ala 1929. Full story in the link, they called in this guys loan without telling him and emptied one of his other accounts that they had access to to cover it..
Don't let them steal your assetts, remove deposits cancel any access they have to any other accounts you have.