Asked in Bankruptcy for Michigan

Q: Tell me that a bussiness can not hold me accountable for a loan put in my account without sending me information.

A compant is telling me that I owe them money for a loan that was put into my checking account. This company never sent me anything saying they were putting money in my account or that I need to make payments on this account. They have sent this to a collection company and now this company is harrassing me because I will not pay anything untill I get more information. No one can tell me anything but that they need my acoount number to start payments. Do they not need to send people information on accounts that need to be paid before they send it to a company like this?

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1 Lawyer Answer
Hillard Fried
Hillard Fried
  • Ann Arbor, MI
  • Licensed in Michigan

A: A necessary element of every contract is mutual assent. If you were completely unaware of this loan and never agreed to accept it or to pay it back, you are not bound by the terms of the transaction. Under principles of both law and equity, however, you may be required to restore the money if it was transferred to you by mistake, accident or fraud. Moreover, if you orally promised to pay back the funds and the lender transferred the money to you in reliance on your statement, you may have created a binding contract.

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