Estoppel by acquiescence

[earlofbankhurst]

Quick question:

I paid back a loan before the day it was due to be paid. As soon as I paid it I canceled the direct debit, however a day later they gave me back the money. Now the money is back in my account, I don't want to spend it, but I don't want my bank account to be sending money at the will and peril of the bank, so how long do I have until a forfilled contract becomes dead, or do I need to write an estoppel of Acquiescence.

Any remedy?

[earlofbankhurst]

I understand the depth of the question, but doesn't anyone have any take on this?

[Jayen4]

Quick question:

I paid back a loan before the day it was due to be paid. As soon as I paid it I canceled the direct debit, however a day later they gave me back the money. Now the money is back in my account, I don't want to spend it, but I don't want my bank account to be sending money at the will and peril of the bank, so how long do I have until a forfilled contract becomes dead, or do I need to write an estoppel of Acquiescence.

Any remedy?

Well,first off,I would write to the bank and demand that they explain their actions ! Why did they send the money back ?? Was the loan a bank loan or what ?? If it was a seperate 'private' company,you would also need to contact them,pronto and inform them what the bank have done. However......If it was this 'private' company which refused the last payment DD,then they need to explain precisely why they did that.

The essence of this is that you DID send payment in good faith and for whatever reason, somebody took it upon themselves to intervene and block/return the payment. You definately fulfilled your end of the bargain !
Get on to them...now !

[SilentDiver]

>they gave me back the money
Or another way of looking at it is you paid off your debt, and then they sent you some money, how nice of them.

If the direct debit has been cancelled, no more should go out, unless the loan was with the same bank I guess then they'll presumably do what they like anyway - why worry ?

Send it back if you like, or keep it in case you want to send it back in future, or spend it.