|
Have you ever logged into your bank account online and thought to yourself ‘was I just scammed?’ because of a Zelle or Venmo transfer you didn’t authorize? Criminals and thieves have gotten more sophisticated with the use of technology. While online payment apps such as Zelle and Vemno provide a convenient service for consumers, these apps can also sometimes be abused by fraudsters who want to steal money out of your bank account.
There is a law - the Electronic Funds Transfer Act (EFTA) - that protects consumers from banking errors and unauthorized transfers such as these. However, it is important to note that not all transactions are covered, and it is your responsibility as the consumer to act first in order to trigger EFTA’s protections. Although the EFTA doesn't cover paper check transactions, it does cover most common electronic transactions such as:
So, what about those popular payment apps like Venmo, Cashapp, or Zelle? Generally, the EFTA applies to those too, but there are some limitations. Typically, fraud is due to a lost or stolen debit card or identity theft. In some cases, an identity thief has enough debit card information to make online purchases. In other cases, the thief has enough personal identifying information to trick the bank into giving them access to the consumer’s accounts. Some identity thieves will even call a consumer posing as a bank employee and trick them into revealing their usernames, passwords, and pins. In general, EFTA will protect the consumer when this happens. The EFTA does not cover situations where the consumer knowingly provided access to a device or debit card. For example, if a consumer gave a loved one their debit card to buy groceries, and that loved one took it to the casino instead - that's not covered. The EFTA also does not cover voluntary transactions initiated by the consumer where the recipient is a fraudster. That is where consumers need to be particularly careful when using payment apps like Zelle and Venmo. If a fraudster can convince you - the consumer - to send them money through one of these apps, the EFTA will not protect you. Moreover, most banks include language in their consumer agreements where they expressly disclaim liability for these types of transactions. As a consumer, you need to notify your bank within 60 days of a transaction appearing on a statement to be protected by EFTA. If you have a device that was lost or stolen with access to your account information you should notify your bank within 2 days to ensure protection for future transactions. A lost or stolen cellphone with a payment app may be considered the same way, and you should treat it as such. If you have recently had unauthorized payment app transactions on your account, we encourage you to reach out to speak with an attorney at no cost to you. We may find a way to help you.
0 Comments
No one needs to tell you how important your credit history is. We strongly recommend that you review the contents of your three major credit reports (Equifax, TransUnion and Experian) at least annually.
Federal law provides that you have the right to get a complete copy of each of your credit reports. The three major credit reporting agencies have set up a single website to handle most consumer requests for reports: www.annualcreditreport.com (Federal law only requires free reports once a year, but at the beginning of COVID, the credit reporting agencies started to allow free reports weekly. As of this writing, the website still states that it offers weekly reports.) We strongly recommend that you pull each separate report and take some time to look through them all. Significant things that might hurt your credit or indicate problems would include:
When disputing inaccurate information, we have found the best practices to be to:
You can call Jim Feagle at 404 373 1978 or Kris Skaar at 770 427 5600. First, gather all of your relevant credit reports.
There are a lot of specialty credit reporting agencies that serve the apartment industry. These specialty agencies are where the evictions are usually reported. Click the following link to see a list of these agencies (see pages 17 through 21 of the current edition of the CFPB's List of Consumer Reporting Companies): https://files.consumerfinance.gov/f/201604_cfpb_list-of-consumer-reporting-companies.pdf. While the main three credit reporting agencies (TransUnion, Experian, and Equifax) do not usually have eviction data, you should probably get copies of those reports as well. You can get a free copy of each report once a year by following this link: www.annualcreditreport.com. Additionally you should preserve all evidence that you timely paid any rent (as well as any other fees permitted under the lease, such as any termination costs). There may be rare occasions where the public record (if that is the problem) can be challenged, vacated, or otherwise dealt with. Then consider consulting with a consumer protection attorney, as an attorney may be able to assist you in resolving your situation. Generally, garnishments are only allowed after a judgment has been entered against you in an earlier, separate court proceeding. If your wages or your bank account has been taken from you by a garnishment, the first thing to check is whether or not the garnishment is based on a valid judgment. Some courts have their records online, so we may be able to look at the court papers while you are on the telephone with one of our attorneys. (If the court involved does not have online records, then we may need you to go to the courthouse to get complete copies of the court file that has the judgment.) This first review is to see if there is a defect in the judgment or the process leading to the judgment. For example, if you were never given proper notice of the earlier lawsuit, then you would have grounds to challenge the garnishment and the underlying judgment against you.
Even if the judgment is not defective, there may be grounds to fight the garnishment. Certain funds (such as social security, retirement funds, workers compensation, etc.) are protected from garnishment even when they are in your bank account. While banks may preserve known protected funds from the garnishment (because the bank knows the source of direct-deposited funds), banks may not always get it right. If the bank messes up and holds protected funds, filings can be made in the garnishment to recover the protected funds. Even if the judgment is defect-free and no protected funds are involved, there may be defects in the garnishment process which invalidate the garnishment. Georgia law in this area has changed significantly in recent years, so it is important to have your garnishment case reviewed by a qualified attorney. Generally speaking, money judgments in Georgia are collectable for seven years after they are entered by a court and can be renewed for additional seven year periods. Once seven years have elapsed without renewal of the judgment, the judgment becomes "dormant" and uncollectable. Creditors may "revive" judgments that have gone dormant by filing with the court a petition for a writ of scire facias (literally translated from Latin as "cause him to know") within three years of the judgment becoming dormant.
Many judgments that were taken during and in the aftermath of the "Great Recession" (approximately December 2007 through June 2009) are now dormant under Georgia law. Most of these dormant judgments are now in the three year period when the creditor can seek to revive it. If you are served with a petition for writ of scire facias, I strongly recommend that you have it reviewed by counsel. You have procedural and substantive rights to defend such a petition. In addition, there may be defects in the underlying judgment. That means that there may still be an opportunity for you to fight the writ and let the judgment remain dead and, therefore, uncollectable. If you have been served with a petition for a writ of scire facias, give us a call to discuss your options. |
AuthorS
Archives
October 2022
Categories |
RSS Feed