Be sure to check your monthly bank statements very carefully if you have automatic withdrawal payments made to Ameriquest from your bank account for your mortgage loan. My son just discovered that Ameriquest has taken over $2,000 (and maybe more) out of his checking account over the past five months. This is over and above the mortgage payments he makes twice a month. None of this money has been credited to his mortgage loan account. His Ameriquest account history shows only the monthly mortgage payments as being credited to his account.
Unfortunately, because he hasn't made it a practice to carefully scrutinize his monthly bank statements, he didn't notice the missing money until he bounced checks. Lucky for him, the bank president waived the check overdraft charges when he was able to trace withdrawals to Ameriquest for an unauthorized name on my son's bank account.
The bank is now investigating past Ameriquest withdrawals on my son's account. They suspect that Ameriquest may have been transferring additional monies from his account for quite some time. Apparently, automatic withdrawal gives a company carte blanche to take any amount of money they want out of a bank account.
Now my son has the arduous task of having to call each and every creditor to explain the situation and assure them payment as soon as he is able to refund his checking account. With the help of the bank, he is reviewing all past activity on his account. Ameriquest is playing dumb, stating that they know nothing about it. They are refusing to repay the money they owe my son or even acknowledge that they are responsible. At this point he is out $2,100, and suspects the final figure may be even higher. He is uncertain as to how to proceed to recover the money Ameriquest owes him. I would appreciate any and all suggestions you may have for him.
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