I have had a Navy Federal CU savings acct for quite a few years and I was a minor when I opened it with my mom. I have had sporadic withdraws to a "NavChek" account, usually $20, for at least 2 years (maybe 6) and was under the impression that it was an overdraft protection fee. This month, however, I had not come close to an overdraft and "NavChek" showed up. I inquired NFCU about this only to find out that my mom took out a line of credit on her acct and has no money in her acct to pay for it, so I am charged $20 or a % since she is a joint owner.
If NFCU cannot supply the initial application, or if I did not sign it, would I easily be able to get the money back through the bank? Can I go through small claims court to get it from my mom? The loss is at least $90 but up to $800+, as I don't have bank statements from 1+years ago.
This may seem like petty cash to some, but she basically spent 3 kids child support to better her own life. I have a list of things, but that is the worst.
OP I'm slightly confused. Is the credit union saying they are deducting the minimum payment on your mom's line of credit from your account as her accounts are empty?
BigDish said: OP I'm slightly confused. Is the credit union saying they are deducting the minimum payment on your mom's line of credit from your account as her accounts are empty?
Yes, that is correct.
barbcole
Senior Member
posted: Nov. 22, 2009 @ 10:05p
Get your mother's name off your account. If that's not possible, open a new one in just your name, transfer your balance, and close the other.
Unfortunately I don't think you'll be able to recover any of the money from the credit union. As a joint owner your mother cross-collateralized the funds in your account to her loan obligations. Stinks, but credit unions tend to have and act on clauses like that. Your normal joint account is an either or type of thing, so as far as the CU is concerned she has just as much right to the funds as you do.
Perhaps you can take your mother to small claims, but I would question if that's really to your benefit (time, anguish, chances of her actually paying, etc.).
Once you get rid of the joint ownership account, you shouldn't have any further problems since I presume you didn't co-sign any loans she has.
The real question - if you have such low regard for your mom, why in the world is she still listed on your account?
The matter is between you and her; as long as she's listed as an owner of the account, the funds are fair game for the bank to take (assuming permission was granted in the lone documents, of course).
And ignoring random $20 fees for upwards of 6 years???!!! I'll let that speak for itself.....
Thats a hell of a burden to carry Get some help with this
chrislk1986 said:
but she basically spent 3 kids child support to better her own life. I have a list of things, but that is the worst.
chimeer
Cranky Member
posted: Nov. 23, 2009 @ 11:39a
From the sounds of it the Credit Union can do this because your mom is a joint account holder you need to get your own account so she can be responsible for her own over drafts.
Glitch99 said: The real question - if you have such low regard for your mom, why in the world is she still listed on your account?
The matter is between you and her; as long as she's listed as an owner of the account, the funds are fair game for the bank to take (assuming permission was granted in the lone documents, of course).
And ignoring random $20 fees for upwards of 6 years???!!! I'll let that speak for itself.....
I wasn't ignoring the fee, it just showed up as "NavChek" so I was under the impression it was a monthly overdraft protection fee. And the only reason she was still listed was because I did not know I could remove her as I never did get to read any agreements/contract.
I am hoping a CSR can shed some light on how I can get a copy of my membership application. I honestly don't remember going in and signing anything (she can sign for me) but it was so long ago who knows.
chrislk1986 said: I am hoping a CSR can shed some light on how I can get a copy of my membership application. What do you expect to accompish by doing that? Are you claiming that she is not a joint accountholder on your account?
If I did not sign the application or if she signed it for me, then I can get the money back from the CU. If I did sign it then I am SOL for the most part. There was a case with a guy in my exact position, though much more money was involved, and he was able to get the money back from NFCU because he had not signed the application.
chrislk1986 said: If I did not sign the application or if she signed it for me, then I can get the money back from the CU. No, you will not. They didnt take money from you. They took money from an account that your mom is listed as owner.
If you take this approach, the best you'd end up doing is getting your name removed from the account (leaving you no way to access your money that is still in it).
Glitch99 said: chrislk1986 said: If I did not sign the application or if she signed it for me, then I can get the money back from the CU. No, you will not. They didnt take money from you. They took money from an account that your mom is listed as owner.
If you take this approach, the best you'd end up doing is getting your name removed from the account (leaving you no way to access your money that is still in it).
My assumption was op was going for the slight chance that he was the only to sign and she didn't though he mentioned the far more likely scenario that she signed... Or maybe he didn't think that through.
In any case OP as glitch99 said before you go and do this I would pull all money out of the account as if you didn't sign it and aren't really an account holder then that money is now your moms and the CU will lock you out from accessing it. Sure you might be able to go after your mom in court if you can prove it was your money and she refused to give it to you, but that would be painful.
Since I could not get her to sign the voluntary removal I was able to just close the acct and have all the money transferred into a newly opened acct over the phone.
What I was trying to say was if I did not sign the agreement, then they can't legally take out money from my acct to satisfy a joint owners loan because, technically, I never "agreed" to that. I should be getting a copy tomorrow, so I guess I'll keep my fingers crossed.
chrislk1986 said: Since I could not get her to sign the voluntary removal I was able to just close the acct and have all the money transferred into a newly opened acct over the phone.
What I was trying to say was if I did not sign the agreement, then they can't legally take out money from my acct to satisfy a joint owners loan because, technically, I never "agreed" to that. I should be getting a copy tomorrow, so I guess I'll keep my fingers crossed.
Still don't understand... if you never signed to affirm that this is your account, then how were you able to close it and transfer money to another accout. Understand?.. it was a joint account BECAUSE you signed for it. If you didn't sign anything, then it is your mother's account, and you would be lucky to get your deposits back without suing her. Can't have it both ways.
VerbalK said: If you didn't sign anything, then it is your mother's account, and you would be lucky to get your deposits back without suing her. Can't have it both ways.Exactly. They didnt take money from your account, they took money from mom's account. Disputing if you were properly included on the account accomplishes nothing. If anything, if you prove what you are attempting to prove, it opens the door to question why you've been withdrawing money from your mom's account without her permission....
Since the money is transferred at this point, maybe this will be ignored. Who put the money in the account to begin with. The OP, his mother, someone else?
As my mother is getting older, I am finding out that she has been adding me to everything of value that she has. I am on all of her bank accounts, car and property. I think it is her way of transferring assets when she dies. I would never think of complaining that she defaulted on some loan and it was getting paid back from one of the 'joint ' accounts.
Ugh. I am somewhat familiar with the case "Krishna Muir v. Navy Federal Credit Union" and really the only difference between his situation and mine is the gross amount lost--his being much more.
Jordge, I assure you that your mother is much nicer than mine and has good intentions--we'll leave it at that.
Edit: I am the only one to put money into my acct.
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