Repayment of Line of Credit Loan by Third Party

Posted by HOWARD (166.122.195.67) on September 15, 2003 at 16:43:14:

I took a $ 1000 line of Credit Loan via signature.
(thru a Credit Union) I requested a $50 monthly repayment from my Savings Account. Instead the Credit Union debited $ 50 monthly from another account holder
who is personal friend of mine. This went on for ten
months and I was credited $ 500 toward this loan. About
six months before I requested my loan, my friend had
stopped a previous authorization to debit her account
as she had borrowed money from me.( I was present at the time) Credit Union denied friend terminated the
authorization before I requested my loan. I was not
notified by the Credit Union when my friend discovered
the Credit Union was deducting $ 50 monthly from her account and she stopped this authorization which was in December of 2002. Instead the Credit Union sent me
a late payment notice. I personally went to the Credit Union in January of 2003 to find out what happened. The Credit Union stated they would restore or debit
my Saving Account $50 without explaining what had occurred and I thought there was just a mix up and some
employee had stopped my payment of $ 50 from my savings account. Nine months later in September of 2003, my friend notified me what had occurred. I sent
a letter to the Credit Union last week explaing the circumstances.

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