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Banking Questions & Answers
1 Answer | Asked in Banking, Business Formation, Estate Planning and Real Estate Law for Texas on
Q: Can I get a loan for my current house, place it in LLC, rent it out, and use the money from the loan to buy a new house?

I am trying to find the best financial solution to invest in real estate. I have paid off my house and would like to move in 18 months. I like this house and would like to hold on to it as a rental property. I will need the proceeds, either through the sale of the house, or from obtaining a... Read more »

Elizabeth A. Sabol
Elizabeth A. Sabol answered on Jan 20, 2022

While everyone could benefit from consulting with an attorney - and this website doesn't count! - you REALLY need to talk to one. Your idea is not at all unusual, but I see issues with: 1) property taxes (you don't want to screw up your homestead exemption for your primary residence); 2)... Read more »

1 Answer | Asked in Banking, Civil Rights, Elder Law and Identity Theft for Rhode Island on
Q: Foreclosure,check fraud,SNAP fraud,credit cards open.Family member took advantage of grandmother. She's out 25,000+HELP

Family member was caregiver for grandmother was supposed to pay mortgage,bills.. Never paid mortgage. grandmother will lose house foreclosure, she's out $20,000. Family member left grandmother bank account $0. Grandmother's social security check went into bank account&stimulus checks... Read more »

Neville Bedford
Neville Bedford answered on Jan 20, 2022 is a good place for you to start to seek help for your elderly relative. Good luck to both of you.

1 Answer | Asked in Banking, Civil Litigation and Collections for New Jersey on
Q: Can a court levy my bank account without notification of any court case against me?

I currently live in FL. Previously lived in NJ. Noticed today that checking and savings accounts were levied. When I spoke to my bank, they said the superior court of NJ authorized this. I never received any notification of a pending court case against me. The address on my license and with the... Read more »

Leonard R. Boyer
Leonard R. Boyer answered on Jan 18, 2022

Significiantly more information is required for a meaningful answer.

1 Answer | Asked in Contracts and Banking for Florida on
Q: Can car companies add a “market value increase” charge on my car buyout that is not in my original lease contract?

I recently went to my dealership to purchase my car and pay the rest of the lease off. The object was to not have a car payment any more. My husband and I estimated my total buyout and everything to be around 15,000 since my residual value is 11,000 and I still owe 2000 in lease payments plus tax,... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 18, 2022

Generally, if any important change is made to a contract without being part of the original contract, the change cannot be made.

However, without being able to read every page of your original contract plus read any other attachment addendums, or similar changes it is impossible to answer...
Read more »

1 Answer | Asked in Banking for Florida on
Q: Someone offered me a job of “Bitcoin trading” where I would act as a middle man between clients.

I would receive money from them, buy bitcoin, then send out the bitcoin to a wallet. I would receive a percentage from these transactions as a fee. Is this illegal in any sorts? Is it potentially fraud or money laundering?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jan 15, 2022

This is either a scam aimed at stealing from you or one of the thousands of money-laundering schemes that the Fed, the IRS, the FBI, and the DOJ are now busting.

1 Answer | Asked in Banking, Business Formation and Business Law for Texas on
Q: I want to file my DBA, can I shorten my DBA name or do I have include the entire name?

ie. The Bakery Shop vs The Bakery Shoppe Cupcakes & Treats

Jaime Victor Papa
Jaime Victor Papa answered on Jan 12, 2022

Yes, you can shorten your DBA name or use an entirely different name. I often work with clients to help them with this process.

1 Answer | Asked in Criminal Law and Banking for Ohio on
Q: I cashed a fake check I didn't know it looked like a payroll check and it was made out to my bf and I signed it took it

To my bank and they cashed it. I thought of it wasn't real or whatever they would know before they cashed it

Matthew Williams
Matthew Williams answered on Jan 11, 2022

If you have been charged with a crime (which is unclear from your post) you should hire an attorney. If you are wondering if you could be charged with a crime, the answer is yes.

1 Answer | Asked in Banking and Contracts for Maine on
Q: I have a title to a truck with no lein holder on it, bought trk from dealer bank financed, do I own it

Trk is bank financed I've made one payment

Fred Bopp III
Fred Bopp III answered on Jan 9, 2022

I cannot answer your question without more information. For starters, what do you mean by "with no lien holder on it"?

2 Answers | Asked in Banking, Criminal Law, Identity Theft and White Collar Crime for Texas on
Q: Is there someone that can be held responsible for the headache this charge has caused me?

About myself: Besides a dismissal back in 2006 for Driving with Invalid License, and now this case, I have no other criminal history.

Recently, I was arrested due to having a warrant for one charge that was due to 2 hot checks I supposedly wrote at HEB, back in 2018.

I was confused... Read more »

Michael Hamilton Rodgers
Michael Hamilton Rodgers answered on Jan 9, 2022

Generally, a person has to pead guilty or "no contest" (which is the same thing as pleading guilty) in order for them to be placed on probation. And if you pleaded either of those, I'd say you are really out of luck. Then I would ask why you would do such a thing knowing you were not... Read more »

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1 Answer | Asked in Banking for Maryland on
Q: Can I open an UTMA for a 15 year old?

I was under the impression that once a child was over 13 years old, an UTMA could not be established as a savings, it is then a youth savings or joint. What is the case, I can find a lot of information on disbursements of UTMA but nothing on establishing. This is an UTMA unrelated to Title 13

Mark Oakley
Mark Oakley answered on Jan 8, 2022

UTMA stands for Uniform Transfer to Minors Act and is governed by Title 13 of the Estates and Trust Code, so claiming an UTMA account isn't governed by Title 13 will do you no good. There is no age 13 limit. The age of majority in Maryland is 18, so any person under 18 is a... Read more »

1 Answer | Asked in Education Law, Tax Law, Banking and Business Law for Oklahoma on
Q: I am on a school board for a private school.

Can a parent make a donation to the school (501c3) and then ask for the money back if they move or enroll their child elsewhere?

Charles Watts
Charles Watts answered on Jan 5, 2022

The parent can ask - but there isn't anything requiring the refund. There is no federal law, and most states classify the donation as a gift and therefore no longer the property of the person giving the donation, and thus not required to be returned. However, if the funds were donated with... Read more »

1 Answer | Asked in Bankruptcy, Personal Injury, Traffic Tickets and Banking for Mississippi on
Q: Trying to get a lawsuit

Lawsuit on Greenville police department, Sheriff department and sexual harassment on ambulance driver

Arthur Calderon
Arthur Calderon answered on Jan 3, 2022

Unfortunately, without more information, there is not enough information to go on. I would highly recommend that you reach out to a lawyer to go over the facts and circumstances of your case, so that you can determine what can be done.

1 Answer | Asked in Estate Planning, Contracts, Banking and Probate for California on
Q: Co-admin of intestate estate removed CA PROB §8500, is estate still liable for assignment of beneficial interest?

My brother took inheritance advances and then stopped communicating with myself and the court; he and his lawyer have since been removed under CA PROB §8500. I am now the only heir to the estate and would like to know if the estate will still be liable for the inheritance advances that my brother... Read more »

Julie King
Julie King answered on Dec 30, 2021

Your question is not entirely clear because you are using some incorrect legal terms. The person in charge of administering an estate (the "Administrator" of the estate) is the person whose job it is to pay the decedent's final bills, ensure the final tax return is filed, and do many... Read more »

1 Answer | Asked in Government Contracts, Banking, Business Formation and Business Law for California on
Q: I received an email from " Jerome Powell " saying the federal reserve bank has millions o dollars in my name . There

Supposedly their is a large fund from the imf that belongs to me , it's been going on for 4 yrs now . What are the chances it's real ? I have acct numbers docket numbers but where can I validate them

Julie King
Julie King answered on Dec 27, 2021

It's almost certainly SPAM, but a lawyer would need to look at the actual email to tell one way or the other. Look at the email address from which it came. Does it end with .gov or .com? All government addresses should end with .gov. Also, if they ask you for your social security number or... Read more »

1 Answer | Asked in Civil Rights, Consumer Law, Products Liability and Banking for Michigan on
Q: Is there any legal action I can take against him?

I opened a bank account and was going to have my boyfriend added as a joint account. We got the paperwork filled out and went to go process it but it didn't process because he is in collections with his separate bank. We were told he needed to pay that debt of 1st before he could be added.... Read more »

Brent T. Geers
Brent T. Geers answered on Dec 20, 2021

Do he clear up the debt with the other bank first? I would contact the bank, then the police to file a report.

2 Answers | Asked in Banking for Florida on
Q: Am I liable??

I got a check for a settlement deposited the same day the next day cleared Iused some founds and the 3 day payer putstop On the check saying they made a mistake.can I be liable for the money spent?

Terrence H Thorgaard
Terrence H Thorgaard answered on Dec 20, 2021

They settled a claim you had against them by cashing their check? Unless I understand you, it appears that you had every right to spend it.

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3 Answers | Asked in Contracts, Family Law, Banking and International Law for Florida on
Q: Bank account in Canada not honoring my contract.

It is joint with rights of survivorship, we specifically wanted to have access to it regardless if one of us died. Now the bank has frozen the accounts after I innocently mentioned to them of her passing since i thought i was in my right. They are saying that there is no rights of survivorship in... Read more »

David Luther Woodward
David Luther Woodward answered on Dec 18, 2021

Read the contract carefully.

The municipal law of Quebec is based on the Code Napoleon (like Louisiana) and cannot easily be compared to the common law of Florida.

I would suggest you hire a lawyer in Montreal (sometimes a notaire can handle this type of problem) and see if it...
Read more »

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2 Answers | Asked in Contracts, Estate Planning, Family Law and Banking for Florida on
Q: Hello, My mother who passed away 2 years ago and I opened a bank account in Montreal, Canada 8 years ago.

It is joint with rights of survivorship, we specifically wanted to have access to it regardless if one of us died. Now the bank has frozen the accounts after I innocently mentioned to them of her passing since i thought i was in my right. They are saying that there is no rights of survivorship in... Read more »

Ellen S Deutsch Taylor
Ellen S Deutsch Taylor answered on Dec 15, 2021

You will need to contact a Canadian lawyer but I would definitely not rely on information from a bank employee.

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1 Answer | Asked in Banking and Employment Law on
Q: What does the employment law in banking say about the performance improvement process?

How long is the performance improvement process for according to South Africa labor law? And what is the process that constitute an employee to be given a written warning and is it ranked by severity?

Tim Akpinar
Tim Akpinar answered on Dec 11, 2021

I'm sorry your question remains open for two weeks. It might be difficult for employment or banking attorneys here to offer their input. This Q & A forum is based largely on U.S. law. Here's a link to the South African Bar Association - If... Read more »

1 Answer | Asked in Personal Injury and Banking for Nevada on
Q: This is what happened to me. My bank gave out my balances that resulted in 90k taken from my bank. They even called me

That they were aware they made the mistake and were investigating. Never heard back from them. I guess there was a judgment in a civil case that I was completely unaware of.. I mean nothing. They didn't show that I was served, called or anything. Now they did have a curior say that he... Read more »

Tim Akpinar
Tim Akpinar answered on Dec 6, 2021

A Nevada attorney could advise best, but your question remains open for two weeks. Since this involves a judgment, a collections attorney would probably have better insight here than a personal injury attorney. There's no guarantee all posts are ultimately picked up, but you could repost and... Read more »

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