Can I do anything to recover money from a company that added a zero to a phone payment which caused my account to be overdrawn?

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Can I do anything to recover money from a company that added a zero to a phone payment which caused my account to be overdrawn?

I have a student loan that I am making payments on. When I called this month, I authorized a $51 payment. The payment went through my bank as $510. The loan agency took fault but must mail me a payment to make up the difference. They expect to take 4-6 weeks. I am on a fixed income and that check took every bit of money out of my account, as well as caused 6 other pending payments to overdraw. The manager I spoke to said that the person on the phone took the amount right, but the accounting department added the zero when they put the payment through.

Asked on December 1, 2010 under Bankruptcy Law, Illinois

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You can sue them: their negligence caused you losses (any impacts from bills you haven't paid; any late or overdrawn fees; etc.) Whenever someone who has a duty or obligation to use care in relation to you or your property--and a loan processor would have that obligation, in regards to handling yoiur accounts, payments, etc.--causes you losses through their negligence, or unreasonable carelessness, you may have a cause of action. If it's a small amount of loss, you could file your suit in small claims court, which is much easier and less expensive (you don't need an attorney). Possibly, after you file, they may choose to settle voluntarily, if  they haven't settled before. Good luck.


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