Banking Questions & Answers

Q: I co signed the mortgage of my cousin almost 5 years ago where we had a verbal agreement that in 2 years he would refin

1 Answer | Asked in Banking for New Jersey on
Answered on Feb 14, 2019
Leonard R. Boyer's answer
You need to retain an experienced civil litigation attorney to represent your interests in this matter. There is a straight forward way that an attorney who is experienced in both civil litigation and real estate can take to protect your interests. Trying to represent yourself in Court is a bad idea. Not only are you emotionally involved, but you are not a trained attorney. You do not know the Court Rules, Rules of Evidence, case law, nor are you trained how to handle a legal case, especially...

Q: Hi, which licenses are needed for a business that holds customers money in accounts that they can access across country?

1 Answer | Asked in Banking, Business Formation and Business Law for California on
Answered on Feb 13, 2019
Robert Lopez's answer
Hi, every state is going to have a different law and most will require a slightly different type of license. The most common type of license is a "money transmitter" license. Most, but not all, of these licenses are regulated by each state's Department of Banking Department/Division. Others will be regulated by that state's Attorney General's office. The actual names of the departments/divisions will vary in each state. The cost of each license will also vary, but it may cost you somewhere...

Q: How long do I have to get a simple affadavit to close a deceased bank account & or will I need to do simplified probate

1 Answer | Asked in Banking and Probate for Oklahoma on
Answered on Feb 10, 2019
Richard Winblad's answer
Banks are required to turn over funds after 5 years of inactivity. Inactivity is defined by statute. You should be good if you are within that time frame. If the assets are $50k or less and there are no unpaid creditors, an affidavit should suffice. Most banks have forms they prefer. If yours does not contact an attorney who can draft it for you. If there are creditors, a summary probate procedure may be available. This usually takes 60-90 days to complete once filed.

Q: My son was hit by a car when 7 i settled out of court for a secured cd account for when he turned 18

1 Answer | Asked in Car Accidents, Personal Injury and Banking for Arizona on
Answered on Feb 10, 2019
Timur Akpinar's answer
It sounds like you acted with the best of intentions in handling the award. From your description, it looks like you may have settled the case yourself. Even if an attorney was involved in handling the award under an infant comp order, it's hard to say if they would have done better with a more financially fruitful route. Only a financial or investment professional could make that call in hindsight. Whatever is done is done. Maybe the present sum could be discussed with someone at a bank to...

Q: Owe on a loan. No payments made in 8 years. Can they take money out of my bank accounts?

1 Answer | Asked in Banking for Michigan on
Answered on Feb 4, 2019
Adam Alexander's answer
More information is required to provide you with an answer. Is there a judgment against you? If so, what court, have they filed a writ of garnishment, have they taken any collection actions?

I suggest you provide a new question including very detailed dates and facts. That way you will receive a response that will be much more helpful.

Q: How do I get defense from electronic harrasment from organized criminals using electromagnetism

2 Answers | Asked in Banking, Civil Litigation, Criminal Law and Federal Crimes for Texas on
Answered on Jan 28, 2019
Kiele Linroth Pace's answer
A "Faraday cage" can shield against unwanted electromagnetic intrusion but that is a discussion for a science and physics forum.

Q: How do I find out if a judgement has been passed against me?

1 Answer | Asked in Banking, Civil Litigation and Collections for Kentucky on
Answered on Jan 27, 2019
Timothy Denison's answer
Go to the courthouse, have them pull the file and you will be able to see if they have s judgment and is so, what collection efforts are underway against you. You may want to hire a lawyer to help you try and settle the case.

Q: Closed on re-finance last night. Was called today and told underwriting is voiding the loan. I have a signed agreement.

1 Answer | Asked in Banking, Contracts and Real Estate Law for Colorado on
Answered on Jan 25, 2019
Donald C Eby's answer
It depends on exactly what the loan docs say. You may want to have an attorney review the loan docs and potentially help you with a demand letter or law suit.

Q: a proposed mutual release settlement agreement does not include the return of the borrowers deposit

1 Answer | Asked in Banking, Civil Litigation, Consumer Law and Contracts for Florida on
Answered on Jan 24, 2019
Griffin Klema's answer
Your question is somewhat confusing. If the borrower and the contractor are on "opposite sides of the v." or are both a plaintiff or a defendant but adverse to one another (such as a cross claim) then a release should be able to accommodate whatever settlement structure the parties desire or can negotiate for. If both the borrower and the contractor are not parties in the action, then getting a settlement agreement (contract) that includes the goals you describe may be more difficult. It may...

Q: Can a bank sue me for overdraft charges from November 2010? Received a phone call yesterday saying I will be served.

1 Answer | Asked in Banking, Consumer Law, Contracts and Criminal Law for Virginia on
Answered on Jan 22, 2019
Timothy R Johnson's answer
They can sue you, but you will probably maintain a strong defense that the claim is past the statute of limitations, unless you acknowledged the debt on the phone call.

Q: My question is my ex-business partner and I before our business got going good we opened a mutual personal bank acct.

1 Answer | Asked in Banking and Personal Injury for Texas on
Answered on Jan 15, 2019
Daniel John Christensen's answer
I am so sorry to hear about this happening to you. While this is not the type of law we practice, I would encourage you to contact the State Bar Lawyer Referral Service and ask for a business litigation attorney. Good luck.

Q: I am a minor in Michigan about to form an LLC. How can I enter into a contract on behalf of my company as a minor?

1 Answer | Asked in Contracts, Banking, Business Formation and Business Law for Michigan on
Answered on Jan 13, 2019
Brent T. Geers' answer
You will need your parents help with this. Other than that, you should be good-to-go.

Q: is There any type of legal document or court order to make my wife or Chase Bank transfer house money to my account

2 Answers | Asked in Banking and Divorce for Texas on
Answered on Jan 12, 2019
Rahlita D. Thornton's answer
I’ll assume the home was purchased after marriage. In that case it is community property regardless of whether your name is on the loan. If you are now pursuing a divorce you can ask that these funds not be used until everything is sorted out. Let us know if you need our help. 888/343-4529 or 888/3434LAW.

Q: Can a lender charge 1% more on interest day before closing to discurage me not to buy ?

1 Answer | Asked in Banking and Real Estate Law for Tennessee on
Answered on Jan 10, 2019
Anthony Marvin Avery's answer
Probably they can, especially if you agreed to it by signing the Note and the Deed of Trust. If they gave you some specific reason why they did not want your business, then it might be something to report to HUD, but I doubt there is any merit. Also you are talking about going after the Lender that you just gave a Deed of Trust to, who might just decide to foreclose.

Q: im ready to dig up my money

2 Answers | Asked in Bankruptcy, Banking and Probate for California on
Answered on Jan 10, 2019
Aaron Michael Lloyd's answer
If you are interested in scheduling a bankruptcy consultation please contact one of us and we can get you in for a free consultation.

Q: My ex girlfriend refuses to remove me as an authorized user from her credit card, is this legal?

1 Answer | Asked in Consumer Law, Criminal Law, Banking and Civil Rights for Florida on
Answered on Jan 5, 2019
Terrence H Thorgaard's answer
An "authorized user" is not obligated to make the payments, so what does it matter to you?

Q: about a stock purchased

1 Answer | Asked in Consumer Law, Banking, Collections and Stockbroker Fraud for New York on
Answered on Jan 2, 2019
Michael David Siegel's answer
It sounds like you were scammed. Call the Securities and Exchange Commission enforcement office and the FBI. Your bank has nothing to do with this. They just sent a wire to a place you ordered. Am I missing something? The "company" you are dealing with likely does not really exist in a way a civil lawsuit would lead to recovery.

Q: A payee was appointed to manage my finances because I was scammed. How do I get control of my finances again?

1 Answer | Asked in Banking for Maine on
Answered on Jan 1, 2019
Fred Bopp III's answer
Hello,

I am not sure this is a banking question but, in any event, it would be helpful to have some additional information. Who is the payee that is handling all of your finances currently? How was that person appointed? Have you spoken to him or her about whether you can again control your own finances? If so, what did he or she say?

Fred Bopp

Q: Is it mandatory to include a verification pleading with an interrogatories, discovery's and admissions ?

1 Answer | Asked in Consumer Law, Banking and Civil Litigation for California on
Answered on Dec 15, 2018
William John Light's answer
A Verification is provided with discovery responses, not with the actual discovery.

Q: How can I file a suit against a Mortgage Co for overpayment and would I need a Lawyer to do so?

1 Answer | Asked in Consumer Law, Real Estate Law and Banking for Missouri on
Answered on Nov 29, 2018
Ronald J. Eisenberg's answer
Your question is not one that can be meaningfully answered in a couple of sentences. It's like asking, "How do I build a house?" or "How do I perform an appendectomy?"

The short answer to your question is that you file a petition in an appropriate court asserting a proper cause of action, assuming you haven't entered into a binding arbitration agreement covering your situation. But that answer doesn't do you much good.

While you have the right to file a lawsuit without an...

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