I own a business in Delaware and am concerned that my partner might have created another bank account using my credentials or my business name without my permission. My partner has a copy of my passport, my ID, and the latest Annual Franchise Tax of the company on his WhatsApp. Although I have not... View More

I lived and worked in Korea for several years and returned to the U.S. in late September 2023. Before 2024, I had between $50K and $75K in my foreign bank account. I am concerned about whether I needed to file Form 8938, given the physical presence test from September 2022 to September 2023, which... View More

I received an email from someone claiming to be Mr. Powell, Chief Officer of the Federal Reserve Bank, stating that I owe a lump sum of money. The email includes his contact information and offers three methods for me to receive funds but requests my bank account and routing number. There were no... View More

William John Light
answered on Mar 22, 2025

The Federal Reserve Bank doesn't collect money from taxpayers. That's the IRS. If you must, the contact info for the Federal Reserve for the western US is here:

federalreserve.gov/aboutthefed/federal-reserve-system-san-francisco.htm

View More Answers

I signed a contract in June 2015 for a car loan with Velocity Credit Union located in Austin, TX, agreeing to a 73-month term at a 15.5% APR. The total price was $36,500. Due to missed insurance payments, my cost increased by $7,000. I have since paid $70,000, but I'm being told I still owe... View More

As an infant, I was involved in a legal case where Stewart T Schantz and Franklyn Engel represented and won a settlement due to an accident that killed my mother and injured me in Ulster County and Poughkeepsie, NY, between 1985-1995. I'm currently facing a significant hardship, and banks... View More

Jonathan R. Ratchik
answered on Mar 21, 2025

If the accounts are in your name (or for your benefit), you shouldn't need any legal representation whatsoever. Proof of identification should be sufficient, i.e. driver's license, along with a copy of the court order pursuant to which the account was opened. That said, it's likely... View More

View More Answers

I am a lender involved in commercial real estate transactions in California. I need to understand the legal requirements concerning excess funds in escrow/impound accounts. Specifically, what funds are we legally allowed to hold onto, and what must we refund to the borrower based on California law?

PREMIUM

James L. Arrasmith Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 20, 2025

Under California law, your requirements for handling excess funds in commercial real estate escrow accounts differ significantly from residential transactions. For commercial properties, the terms outlined in your loan agreement primarily govern how excess funds must be handled, rather than... View More

I opened an online Chase bank account years ago and transferred money from my E*TRADE account. Chase locked my account in December 2021, asking for proof of identity. At the time, I didn't have the requested documents. Over time, I obtained my ID and presented all required documents at... View More

Scott Richard Kaufman
answered on Mar 20, 2025

Sorry for your issues. Seems really odd. For 'easy' fix, try going in based on the following:

"Despite having documentation from Chase stating a check for the remaining balance would be issued, I never received it." Go into any chase branch, note that they said they... View More

View More Answers

I have been a customer of a major online credit card company that also offers online banking services for several years. Since February, I started facing issues where my password was incorrectly recognized by the app, prompting me to reset it using their website. Previously, resetting a password... View More

If I, as the primary account holder, add my adult child to my checking and savings bank accounts, can my accounts be subject to any potential lawsuit issues they may face?

I am seeking legal guidance regarding my family’s home loan modification in Washington, DC. My father, a veteran, passed away in 2021, and we applied for a modification to retain the home and maintain his interest rate. The process extended for nearly four years without any missed deadlines or... View More

I inherited foreign bank shares from my mother in 1996 and sold them in 2024. I have been receiving dividends yearly and have reported them on my tax return and FBAR. However, I do not know the share price from 1996. Do I need to report the sale on my tax return, and how should I handle the lack of... View More

PREMIUM

James L. Arrasmith Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 21, 2025

You must report the sale on your tax return because selling inherited shares is considered a taxable event. When you inherit property, the cost basis is typically set as the fair market value on the date you inherited the shares.

Since you don’t have the share price from 1996, you should... View More

I live in the US, and my father resides in a Middle Eastern country. Due to a broken banking system, he can't send money directly to me. He arranges for friends in the US to transfer around $10,000 annually to my account through Zelle or check payments. He reimburses their families in cash in... View More

PREMIUM

James L. Arrasmith Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 16, 2025

Receiving $10,000 annually from your father's friends in the U.S., who are reimbursed by your father abroad, is generally legal and does not have direct tax implications for you as the recipient. In the United States, recipients of gifts are not required to pay taxes on the amounts received.... View More

I have a Home Equity Installment (HEI) that was in the first lien position on my property. Recently, I discovered through emails that my mortgage lender instructed my homeowner's insurance agent to change their position to first lien without notifying me or the HEI company. No Subordination... View More

PREMIUM

Anthony M. Avery Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 17, 2025

Whichever lender filed their security instrument first has priority unless there is an executed subordination agreement recorded. Hire a FL to search the title and determine your title's exact status. Such a so called "HEI" mortgage is almost always second or third in priority, as... View More

I have separate accounts at Lake Michigan Credit Union, where my child's father also banks. His mother works there as a mortgage closer. I discovered through text messages on my child's father's phone that his mother has been sharing details about my bank account, specifically the... View More

I have a self-directed ROTH IRA and I'm considering purchasing a trading contract with a proprietary trading firm ("prop firm"). The firm provides the capital, and profits would be deposited into a bank account I designate. I would not use leverage or incur debt directly within the... View More

I opened an account with Atlas Bank app six weeks ago and set up direct deposit, receiving around $1,200. When I tried to withdraw the money, they froze my account, demanding ID verification. Despite providing several images and a temporary ID, they refused to unlock my account for more than a... View More

Timothy Denison
answered on Mar 16, 2025

Not legal unless you have some prior indebtedness to Atlas Bank. Hire a lawyer to sue them and report them to the Kentucky Banking Commission.

I signed documentation to defer a bank draft payment with my creditor for one month so I could use the funds to pay half-year property taxes. However, the creditor debited my checking account during the deferred month, which resulted in an overdraft. Consequently, I had to borrow money against my... View More

I am dealing with a situation where alleged fraudulent checks were deposited into a business bank account. The bank informed the account holder that the checks were fraudulent only after holding them for 5-7 days before releasing funds. The bank hasn't communicated any actions yet. Can the... View More

In Arlington, Virginia, I need to fill out a Garnishment Form to send to a bank. This is my first time dealing with a garnishment case, and I have the defendant's name and disposition paper ready. How much should I realistically expect an attorney to charge me to complete this form, preferably... View More

We were arrested for trespassing and disturbing the peace when we entered our bank to withdraw our money ($16,000) the bank said they didn’t have that much money and we would have to schedule an appointment ahead of time. We told them we know there are laws that protect our rights so we told... View More