Legal Question in Banking Law in Georgia

credit union mistake in payroll deduction

Took out 2nd mortgage and signed all the paperwork with the monthly payment at $593.00. Credit Union was payroll deducting the payment bi-monthly. I was contacted yesterday by the Credit Union and was told that they had not been taking the correct amount out of my paycheck. They said that someone had entered in the wrong amount and that now my payments would be $100.00 more each paycheck. I checked my paperwork and indeed this was true. I have no problem with paying the correct amount from here foward. But the Credit Union now wants me to pay them $1300.00 for the last 13 payments that they incorrectly withdrew. My question is do I have to pay them back the $1300?

Asked on 5/06/09, 8:06 am

1 Answer from Attorneys

Scott Riddle Law Office of Scott B. Riddle, LLC
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Re: credit union mistake in payroll deduction

The easy solution - pay the amount you agreed to pay in your loan documents. Mistakes happen, and you should have caught the mistake even if they did not. Would you have raised it earlier if the mistake was in their favor? Further, regardless of how payments were made, you would still owe the money at some point, including interest on any principal not paid.

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5/06/09, 8:19 am

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