If i have a late loan payment, can my bank legally take the money from my account without permission?

we have a late loan payment on a loan from this bank. they took the money from our account without permission, to pay it. now they won't put the money back and we have checks bouncing.
If i have a late loan payment, can my bank legally take the money from my account without permission?
..more alarmingly, each bounced cheque and d.d. will incur further charges by the bank and creditors and put you further into the red.


If you have means to straighten your account, you could have words with the bank manager and he may waive the charges at his discretion. (Even though it's the bank that initiated the domino effect)





Tip : dont go in guns blazing, try the distraught approach or you'll get nowhere.
Reply:I agree with Jingles - read your loan agreement and review all papers attached to your loan agreement.





The bank cannot take money from your account without your written permission.





You cannot complain if you gave the bank explicit permission to get money from your account if certain conditions are met ( ie late loan payment )
Reply:Yes they can take it without your say so if it is two of the same company....eg lloyds/tsb bank account.....lloyds credit loan
Reply:Yes they have every right.. You should try to track your money better %26amp; now how much you are spending so this doesn't happen..!!! Me %26amp; my partner used to get charged all the time %26amp; go over drawn.. But got it sorted %26amp; now we write down whatever we spend so we know where we r..!!
Reply:Read your loan agreement. They probably do have your permission to take money from your account.