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Home > Reader Questions > M&T bank took my money.

M&T bank took my money.

I have a checking account with M&T bank for over ten years, just year ago I added my boyfriend’s name to my account so we can deposit his pay check easy.

My boyfriend owe $3,750.00 to his bank Wilmington Trust and he was in proses of negotiation about making monthly payments arrangement. When I got my tax money refund (around $4,000.00) that I filed single head of household which included tax credit for my child, I notice that my money was gone, $3,750.00 was taken from my account.

I called the bank immediately and they told me that M&T has have bought Wilmington Trust and now that mean they can collect they debt from me…. I need to know is there anything I can do to get my money back, our whole existence depend on this money, money that I worked so hard for …..Thanks


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This is information that was submitted by a third party and not generated by or Steve Rhode.
  • guest

    try filing an injured party claim with the IRS as that was not his money to take.  The bank had no right to take this money as they can tell the deposit was made in your name and not his.

  • Msullivan


    Unfortunately, you have been bitten by the law of unintended consequences combined with really bad luck. When you made your boyfriend a co owner of your account your money became his money.When the banks combined his money became available to pay his debt.

    There are a few conditions under which a bank cannot take funds to satisfy a debt but you would have to hire an attorney to see if there is any possible way to undo this. I don’t see an obvious way to get his money bank from the bank since he apparently agreed that he owed the debt, and I don’t an easy way for you to claim that this wasn’t his money( as much as it was your money) since you put it into an account with his name on it.

    I hope your boyfriend will at least make the monthly payments to you so you can be made whole. And if he ever misses even one payment, I would quickly close that joint account and open one in just your name. There is a good chance that your boyfriend is not good with money and debt.

    Good luck!

    • Steve Rhode

      Good advice.

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