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Online Debit Agreement Didn't Include Joint Owner

Answered by: 
Randy Carey

Question: 
A customer had a recurring monthly debit post via debit card transaction. The customer had an agreement with a finance company to debit the account monthly until the debt is paid in full. The customer passed away and the finance company debited the remaining amount owed per the agreement. The joint owner is disputing this debit because she was not a part of this agreement. Is this final debited amount owed back to the joint owner?
Answer: 

It very well may be an unauthorized transaction. The finance company's debit authorization died with the customer if the loan was only made to the deceased customer, and if only authorized by the deceased customer. The finance company would have to look to the deceased customer's estate for payment.

First published on BankersOnline.com 1/03/10

First published on 01/03/2010

Filed under: 
Technology
Filed under technology as: 
Deceased Customer
Estate
IT

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