Legal Question in Credit and Debt Law in New York

My ATM card was stolen and when i realized i went to the nearest branch. However, the branch was closing and i spoke to someone who pretty much rushd me. I was told the card was cancelled and they would issue me another one. a couple days past and no card, i decided to call the bank. i was informed that i had a -$4000 balance. Now, i am a college stude4nt who cannot afford t pay this. I filed a claim with the bank. Today i recived a call from the investigator who was quick to make me out to be the perp and not the victim. He informed me that since i am a college student right now the crazeis fradulent checks. to my surprise i new nothing about. where should i go from here? again, i am a full time college student who cannot afford to pay this

Asked on 10/19/12, 12:40 pm

2 Answers from Attorneys

Rory Alarcon Rory Alarcon, Esq.
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The UCC (law governing cred cards) is generally pretty forgiving to those in your situation, unless you wait too long (you are fine with this). If there is no answer from the bank, contact the NYS Banking Department or call the bank's corporate HQ.

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Answered on 10/19/12, 12:47 pm
Guy Lewit Guy Mitchell Lewit, Esq.
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When the bank issued the card to you there should have been an underlying agreement between you and the bank...the agreement was either mailed to you after the fact or was sent online (depending how you opened the account). Get a copy of that agreement and see what it says about fraudulent use (what happens when/if you lose the card, etc.). I believe there is a maximum liability $50? or so but I am NOT sure. They change the rules all the time. Either way, if you did not use the card DO NOT PAY. SEND A FORMAL NOTICE of the loss to your bank.

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Answered on 10/22/12, 8:13 am

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