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Virginia Banking Questions & Answers
1 Answer | Asked in Banking and Identity Theft for Virginia on
Q: If someone were to say buy something for someone else with said stolen credit card could the other person get in trouble

If someone were to say buy a windshield replacement with someone’s credit card and the card ended up being a stolen, could the person that didn’t know anything about the card; let alone the card being stolen to purchase the replacement get in trouble too?!

James L. Arrasmith
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answered on Oct 2, 2024

If someone asks you to buy something using their credit card and you have no idea the card is stolen, you typically won’t get into trouble. Unintentional involvement in a transaction where the card is fraudulent usually doesn’t lead to criminal charges. It's important to act in good faith... View More

1 Answer | Asked in Banking for Virginia on
Q: Will a check clear if it’s already been deposited a few years ago

I found a check in my safe from 2019 with a stack of other checks. It was the only check that didn’t have void written on it so I assumed I never deposited it so I did a mobile deposit and this morning I check my bank account and the funds are In my account but I’m scared to spend the money... View More

James L. Arrasmith
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answered on Feb 23, 2024

Discovering a check from 2019 and depositing it recently to find the funds in your account certainly brings up a valid concern about whether it was previously deposited, especially with the transition from SunTrust to Truist possibly complicating your ability to track past transactions. Generally,... View More

2 Answers | Asked in Banking, Business Formation and Business Law for Virginia on
Q: Do I only need a DBA in the state where my business is located or do I need DBAs in all 50 states and/or counties?

In general, are DBAs only required when market and run a domain under a different name, conduct bank transactions under a different name, or both?

For reference, I am attempting to engage in e-commerce as a sole proprietor under a different name. The business involves selling physical products.

Dominic Paul Lascara
Dominic Paul Lascara
answered on Feb 12, 2024

If you are operating your business under an "assumed" name, "trade" name or a "fictitious" name, you should file the propert fictitious name certificate in every state that you are doing business and you should confirm that your entity is authorized to do business in those states.

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1 Answer | Asked in Consumer Law and Banking for Virginia on
Q: More than 6 months ago my 80 year old mother was extorted and withdrew $100,000 in cash from her bank.

My mother was extorted out of $100,000 in cash by individuals representing themselves as Treasury Dept. representatives. She went to the local branch of Wells Fargo Bank over the course of 3 consecutive days and took out a total of $100,000 in cash. I have reported this incident to the local... View More

James L. Arrasmith
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answered on Jan 31, 2024

Hi there - I can offer some general information that might help you understand your situation. If your 80-year-old mother was extorted and withdrew $100,000 in cash from her bank under fraudulent pretenses, you may have legal options to pursue. Negligence on the part of the bank, like allowing such... View More

1 Answer | Asked in Real Estate Law and Banking for Virginia on
Q: Mortgage loan officer told me 5 days before closing to defer student loans or pay 7500 extra. App won’t process in time.

Nelnet is the loan company and won’t process a deferment or income driven payment plan in that time frame, leaving me no choice but the pay the 7500 extra to buy down, despite us definitely being eligible for the income driven payment plan. Can I do anything about this? I feel so helpless like I... View More

James L. Arrasmith
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answered on Nov 13, 2023

In this situation, where your mortgage loan officer has requested a deferment of your student loans or an additional payment of $7500 shortly before closing, and Nelnet is unable to process the deferment in time, you do have some options.

First, communicate with your loan officer about the...
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1 Answer | Asked in Banking, Consumer Law and Contracts for Virginia on
Q: Long story. I cos-sign for a car. Some how they switched ot to make me principle buyer. Car payment 2 1/2 months behind

No tax paid since car was bought. Caused a stop fee on my dmv record. No insurance on vehicle and tags is no good since February 2023. Loan company said I can do a volunteer repo bust I must bring it in. The other signer refuse. What can I do please help.

James L. Arrasmith
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answered on Nov 13, 2023

In Virginia, if you find yourself incorrectly listed as the principal buyer on a car loan you cosigned, you should first review the loan agreement and any related documents to understand how this change occurred. If there's evidence of a mistake or fraudulent activity, you may need to dispute... View More

1 Answer | Asked in Banking, Identity Theft and Small Claims for Virginia on
Q: Can I sue my ex for access to my second cashapp account I let her use while we were together?

Before Me and my Girlfriend broke up and I had made a Cashapp account, for her to borrow. I had used my identification and SSN to verify my ID and now she has locked me out of it. Cash app support has been useless in canceling the account.

James L. Arrasmith
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answered on Sep 21, 2023

To potentially address this situation, you may want to explore the option of mediation or negotiation with your ex-partner to regain access to the second Cash App account. Legal action could be considered if all other options fail, but it's essential to consult with an attorney who can provide... View More

1 Answer | Asked in Estate Planning, Family Law, Real Estate Law and Banking for Virginia on
Q: I have possession of a deceased family member's deed of trust. She's not listed on it, but holds title to it. Virginia

The transaction has been paid off, but I have not seen any deed actually signed over to officially own the property without question. I also was given possession of the deed to hold safely, but was not named executor of her will. What, if any, rights to I have in the say of what happens to her... View More

Richard Sternberg
Richard Sternberg
answered on Jul 23, 2023

The assumptions in your posting indicate that you haven’t a clue as to proving title in Virginia. Seek out local, Virginia, real estate counsel, run a current owner search, and review the results.

1 Answer | Asked in Banking, Civil Litigation and Consumer Law for Virginia on
Q: I just refinanced on a car with a dealership that deals with banking, I signed a contract and car won’t go in reverse

They denied my refund it hasn’t been a whole 24 hours, I no longer trust the dealership because they are hanging up in my ear, I live in norfolk Va, how can I get help with this, does this fall under the lemon law, not to mention I told them I was unable to get insured which was reason 2 I wanted... View More

James L. Arrasmith
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answered on Mar 2, 2023

If you have just purchased a car and it has a significant mechanical issue, such as the inability to go in reverse, you may be able to take action under Virginia's lemon law or other consumer protection laws. Under Virginia's lemon law, a car may be considered a "lemon" if it... View More

1 Answer | Asked in Banking, Civil Litigation and Contracts for Virginia on
Q: Hello. Needed information as to how do I prepare for a "Summons to Party to a Joint Account?

This is in reference to joint account I have with my child's father. It was also mentioned that I was a non resident on form as my address is in MD. and his in VA. Funds was garnished from account for a debt he owed dating back to a timeshare he acquired almost 20 years that I have no ties to... View More

James L. Arrasmith
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answered on Mar 2, 2023

If you have received a "Summons to Party to a Joint Account," it means that a creditor or debt collector is trying to collect a debt from your joint account with your child's father. Here are some steps you can take to prepare:

Review the summons carefully: Make sure you...
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1 Answer | Asked in Banking, Civil Litigation and Education Law for Virginia on
Q: Does VA law require a notary to sign when notarizing a document?

A document that I recently had notarized by Bank of America is being rejected by my university on the grounds that the notary hasn't signed it. While attempting to research this online, I have yet to find definitive answers.

Derek Allen Colvin
Derek Allen Colvin
answered on Jan 26, 2023

There are seven (7) items required for the notary to state on each document being notarized:

1. The name of the county or independent city in which the document is signed

2. The date the document is signed.

3. The notarial statement – what is being notarized (i.e. a...
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2 Answers | Asked in Criminal Law, Banking, Civil Litigation and Federal Crimes for Virginia on
Q: Is it a crime to deposit/cash a check if it is to 2 named people, he signed the back twice and she didn’t sign

My sister and her husband are going through a bad divorce. He left two weeks before the birth of their last kid. She has the house. He filed taxes jointly, and the federal return came to the house. She held it and they came to an agreement on how to spend it. It was only in a text so nothing... View More

Kelly L. DiCorrado
Kelly L. DiCorrado
answered on Mar 2, 2021

I would recommend taking the copies of checks you have along with these facts to your local magistrate or police department to discuss the options of pressing charges.

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1 Answer | Asked in Banking and Probate for Virginia on
Q: If a will says that 3 people are named executors. Is it illegal for one of them to close a bank account before probate?
Richard Sternberg
Richard Sternberg
answered on Jan 14, 2021

The Will must be probated, and the court must appoint the personal representatives (executors/executrix in Virginia) before they have any power at all. If the bank account is not a probate asset. like an account in which a beneficiary is named or a joint account that was not created for the benefit... View More

1 Answer | Asked in Banking, Business Formation, Business Law and Securities Law for Virginia on
Q: Does a company need to register as a financial advisor if partners or members are only buying/selling securities?

Wanted to know because I'm looking to open a partnership or llc. No financial advice will be given to partners or members. One person would do all the transactions on behalf of company. This is for investment purposes.

Robert W. Pearce
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Robert W. Pearce
answered on Oct 8, 2020

If the transactions are by the Managing Member or General Partner for and only on behalf of the company in only its private securities account and the company is not in the business of just buying and selling securities as a Broker or Dealer then in my opinion no registration would be required.

1 Answer | Asked in Banking and Real Estate Law for Virginia on
Q: If my sister takes power of attorney, over my father health etc, does she has controlled over the real estate home in PR

He is hospitalize VA, she is his aid care taker. She wants POA because he is married.

Richard Sternberg
Richard Sternberg
answered on Sep 20, 2020

This is not a DIY situation. You need a lawyer. But, the specific answer to your question is that a power of attorney expires when the principal (your father) dies. Sometimes, the attorney-in-fact (your sister) has the power to make financial transactions during your father's life using the... View More

4 Answers | Asked in Bankruptcy and Banking for Virginia on
Q: Can Chase repo vehicle if credit card defaults, and car loan is paid each month?

I live in VA and have a Chase credit card and a Chase vehicle loan. If I default on my credit card, but remain up to date with my vehicle loan, can they repo the vehicle?

Timothy Denison
Timothy Denison
answered on Jun 22, 2020

Depends on whether there is a wraparound security interest in the car tied to the credit card.

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1 Answer | Asked in Banking, Civil Litigation and Small Claims for Virginia on
Q: A collection agency is trying to collect a debt from 11 years ago with Wachovia bank.Wachovia said it’s written off

I have phone recordings of both collections and bank. Wachovia says they stopped collections 2-3 years ago of statute of limitations.

F. Paul Maloof
F. Paul Maloof
answered on Apr 23, 2020

If the origin of the debt was in Virginia and was connected to a written agreement, there is a 5 year statute of limitations that applies to the debt. The Statute of Limitations defense is an affirmative defense so it must be raised after a lawsuit is filed.

1 Answer | Asked in Banking, Business Law, Civil Litigation and Libel & Slander for Virginia on
Q: Nat. company’s website refers to a hired person’s “bio” & includes false claim of starting event that’s yours. Sue comp?

Their is the local branch that the person was hired but the person works all over the country with the large nat. company. It is still active on the website. I know they scrubbed social media for everything/ anything when he hired, but the liar wrote this bit and they missed it. Can I file a cease... View More

F. Paul Maloof
F. Paul Maloof
answered on Feb 16, 2020

Many of the answers to your questions depend on the particular facts that are involved in your case. You should definitely confer with a lawyer and get a formal opinion.

1 Answer | Asked in Criminal Law, Banking and White Collar Crime for Virginia on
Q: What probable cause is needed to arrest a medical provider for credit card fraud? What about criteria for conviction?

Need guidance on arrest for credit card fraud that I did not commit. I have a clean record and work as a licensed therapist. I own a solo private practice in VA. Last week, I was unexpectedly arrested at home. I was handcuffed in my kitchen and escorted to the police car in the street (blocking... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Jun 16, 2019

Great story, great defenses. Tell everything to a lawyer.

1 Answer | Asked in Banking for Virginia on
Q: Does Wells Fargo have a right to make a list of the contents of my deceased Uncles box when I have limited access

It took a lot of effort on my part to get them to agree to limited access - like I showed them the VA law. They are now claiming it is their bank policy to make a list of the contents. I think they can observe but privacy dictates that they can not see the contents.

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Apr 29, 2019

Now that you have "limited access" the bank has every right to take an inventory of the contents of your deceased uncle's safe deposit box--if for no other reason that to be able to defend itself if there ever is a claim filed against the bank.

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