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Michigan Banking Questions & Answers
1 Answer | Asked in Banking, Consumer Law, Contracts and Real Estate Law for Michigan on
Q: Real estate question. Hello all. Can I sue my mortgage lender?

I was buying a house and closer decided to end the deal due to lender not meeting closing date. I know meeting closing date is not guaranteed but every time I try to contact them they never called back. When I was finally able to contact them (two day before my closing date) they said they needed... Read more »

Brent T. Geers
Brent T. Geers answered on Oct 26, 2020

Are you using a Realtor? That person is probably the first person you should (or should have been) in contact with. Generally, since the mortgage lender is not a part of the contract you made with the seller, it would be hard to assign liability to them.

1 Answer | Asked in Family Law, Banking and Elder Law for Michigan on
Q: A deposit was made to joint acct, one member dec'd, thought deposit was a benefit or payment due to me as executor

didn't know if it was reverse mtge or life or whatever, it continued past his death till last month. I was on the acct way before the death. Is this a criminal error?

Brent T. Geers
Brent T. Geers answered on Oct 6, 2020

So what was the deposit for? It's probably not criminal but you may need to repay it to whomever made the deposit at some point.

1 Answer | Asked in Contracts and Banking for Michigan on
Q: Can a bank cancel my gap insurance because they mess up on my loan?

apparently they do not offer gap insurance on the type/length of loan we have. But we sign paperwork stating they will cover it 2 months ago.

Adam Alexander
Adam Alexander answered on Sep 23, 2020

There may be language in the GAP contract allowing them to back out. Obviously you should get your money back for the contract. If it was part of your finance contract, you may want to request a new breakdown of costs because the Truth in Lending Act requires them to provide perfectly accurate... Read more »

1 Answer | Asked in Banking for Michigan on
Q: Received a check from this company is this legit

Need help because I received a check in the mail for a car wrapping project

Brent T. Geers
Brent T. Geers answered on Aug 20, 2020

One way to avoid a financial scam is to ask yourself: are you expecting money? Before cashing the check, you should look at the company information listed on the check. First and foremost, is that information printed completely? Most legitimate companies print checks through their accounting... Read more »

1 Answer | Asked in Banking for Michigan on
Q: Banking help for person from United States that is stuck in Canada from pandemic shutdown.

There is a friend that is stuck in Canada still from the Clovid-19 lockdown. While in Canada the person had their bank account in the United states suspended due to , the bank says, fraudulent activity. The company this person works for can only deposit money earned to bank account. Meanwhile my... Read more »

Ana Maria Del Valle-Aguilera
Ana Maria Del Valle-Aguilera answered on Jul 6, 2020

Banks have systems that "red flag" accounts when certain events happen, such as uncommon account usage or access from new locations. Banks will have procedures in place to identify the person and ensure that there is no identity theft. Depending on her bank, talking to someone that can... Read more »

1 Answer | Asked in Banking, Child Support, Estate Planning and Family Law for Michigan on
Q: I live in michigan and have family court questions that the courthouse couldn’t answer. Who can i call to get answers.

I need help figuring out the legal options i have. My situation is complicated so a phone call would be the easiest route to discuss in further detail. Please help.

Kenneth V Zichi
Kenneth V Zichi answered on Jun 16, 2020

Courts are prohibited by law from providing legal advice. To do otherwise would make them biased by definition and unable to handle a case impartially.

You need to hire your own attorney especially if your situation is ‘complicated’. Your best option is to find a LOCAL lawyer as local...
Read more »

1 Answer | Asked in Banking, Civil Litigation, Contracts and Insurance Defense for Michigan on
Q: So my grandfather passed away then 4 weeks later my grandmother pass before my grandfathers insurance came in!

My grandmother may pass before the check is deposited into her account how can my mom or uncles save it before it goes back to insurance

Thomas. R. Morris
Thomas. R. Morris answered on Apr 6, 2020

The question is not altogether clear to me, but it sounds like the insurance payment is property of your grandmother's estate, and that a probate case needs to be commenced in order to deal with the payment. An attorney with the whole picture will be able to guide you through the probate... Read more »

2 Answers | Asked in Banking, Collections and Social Security for Michigan on
Q: Is it legal for my savings acct. ( DIRECT DEP from soc sec) to be garnished by credit card company?? FACTS/background

Joint acct, social security check made out to me for the care of my husband. The only money that goes into this acct is his ss check.

The garnishment was against me not him.

4k was taken without my knowledge. I didn't receive garnishment writ as they stated. I was told I... Read more »

Adam Alexander
Adam Alexander answered on Mar 9, 2020

If these are the only funds in this account, you should retain a lawyer to file an objection to garnishment. Exempt funds is just the kind of argument that a judge will listen to. However, if there are commingled funds, the analysis is more complex.

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1 Answer | Asked in Family Law, Banking and Probate for Michigan on
Q: I need to petition for conservatorship for my 14 year old daughter to receive her inheritance from my Mother.

The inheritance is coming from a Canadian bank and in the amount of $5000 CA. They will not release the funds until they have conservatorship papers. What forms do I need to fill out?

Kenneth V Zichi
Kenneth V Zichi answered on Feb 4, 2020

You asked this elsewhere, but let me reiterate:

1) if your current bank won't work with you, go to a different one!

2) GENERALLY speaking, there are exceptions to conservatorship for assets worth less than US$5000 which this is.

3) Similarly a trust or some other...
Read more »

2 Answers | Asked in Family Law, Banking and Probate for Michigan on
Q: I need to become my 14 yr old daughter’s conservator.

My daughter has an inheritance named to her from my Mother. It is coming from a Canadian bank in the amount of $5000 CA.

The bank won’t release the funds to my daughter until I gain conservatorship for her bank account. What forms do I need to fill out to do this in Wayne County?

Andrew M Steiger
Andrew M Steiger answered on Feb 3, 2020

A court appointed conservatorship is a lot of effort for CAD$5,000. I would work with the bank to see if there is another option and point out that you are the child's parent. An easier option might be something like a UTMA.

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2 Answers | Asked in Banking and Bankruptcy for Michigan on
Q: Does awage garnishment stop after filing for bankruptcy
Timothy Denison
Timothy Denison answered on Jan 16, 2020

Yes

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1 Answer | Asked in Banking for Michigan on
Q: Can I sue Bank of America for my account being hacked?

I received a Security emal alert from Bank of America back in August stating that fraudulent activity was noticed on my account and that my account had been closed. I contacted the bank and was informed that ATM deposits that were being conducted in Texas (I live in Michigan) were fraudulent. I... Read more »

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

There are several ways to rectify this increasingly common situation--all of which require assistance of an experienced lawyer who understands Banking Law and class action litigation. I advise you to use the Find A Lawyer tab at the top of the page and contact an experienced Banking Lawyer.

1 Answer | Asked in Banking for Michigan on
Q: Hi, my name is Austyn and I have a big problem that I dont really know how it would be categorized. Bank fraud.

Okay, so I noticed one day when I went into my mobile online banking my account said negative $574.00, so I immediately went up to the bank and was addressed the issue and their response was "You deposited a fraud check" when in reality I did not. Also, the bank let the check go through... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Aug 28, 2019

Do you have a legal question you would like to ask?

1 Answer | Asked in Banking and Social Security for Michigan on
Q: My sister lives in Michigan, collects social security disability due to bipolar issue. Can she open a banking account?
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 17, 2019

Yes, of course your sister can open a bank account--with one important caveat: If your sister intends to put lots of money into a bank account--or in any other kind of financial account--she may be at risk of having to explain where she is getting the money.

1 Answer | Asked in Banking and Business Law for Michigan on
Q: I am a va for someone from another state. He sent me a check and it bounced. My bank accounts on hold now. What do i do?

He’s in TX, originally the first check he sent me i guess cancelled because of FedEx had a problem with delivery. (VA=virtual assistant)

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jun 21, 2019

Pardon my ignorance, but if you can tell me what a "va" is I might be able to give you some advice.

1 Answer | Asked in Banking for Michigan on
Q: I have utma account that was set up for me when I was still minor. I am an adult now and want to access the money in it.

The custodian will not give me access, I am wondering if there is another way I can get the bank to give me the money from the account without having to go through the custodian. I am now 30, I've had the account ever since I was minor. Is there a way as an adult now that I can bypass the... Read more »

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

The bank is required to give you the money; or it can give the money to the person who set it up. The reason the bank said no might be because the custodian closed the account--years ago. They will not tell you because they cannot. If there was a lot of money, hire a lawyer.

1 Answer | Asked in Banking for Michigan on
Q: what terms can a suspend then close an account with funds in it and how long do they have before despurse funds?

After transferring funds from my Wells Fargo account to chase, they suspended account with $6,000 in it on 3/22/19. They did not reach out about receding any information from me until 4/15. Then finally sent check for funds 5/7. Also I was not notified by any other methods, such as hone or email... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 15, 2019

Accept the $500 settlement and move on. P.S. By move on I mean move completely away from both Wells Fargo Bank and Chase Bank, unless you like this kind of bad behavior from your bank. Choose a small local bank of credit union that is grateful for your business--and does not engage in questionable... Read more »

1 Answer | Asked in Banking, Business Formation and Business Law for Michigan on
Q: Use my personal address on a business bank account? Degree of risk of piercing the LLC veil?

Manager-Managed LLC in Michigan. I am the Manager (80%), my daughters are silent partners (5% and 5%). We are presently using a UPS Store Mailbox as the business address, but the bank will not allow it. The bank suggests using my personal address.

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Apr 10, 2019

There is nothing wrong in using a home or personal address as a business address.

1 Answer | Asked in Banking for Michigan on
Q: HI, I was approved for a loan for 20 thousand at 4% interest. I shouldn't of been approved. Questions in details!

on paper I knowingly could not afford this loan.

I had just started a job for 3 weeks ago at that point.

I made $9.50 an hour.

and my credit score didn't exist.

after reviewing my contract with the salesman he whited out my employment dates and put 6 months.... Read more »

Brent T. Geers
Brent T. Geers answered on Mar 26, 2019

You present an interesting take on an age-old dilemma. While the loan manager may be held accountable to the bank or dealership for approving a bad loan (in this case, allegedly losing her job), you are and will be accountable for everything you sign as an adult - including this loan agreement.... Read more »

1 Answer | Asked in Banking for Michigan on
Q: Owe on a loan. No payments made in 8 years. Can they take money out of my bank accounts?

Husband died. Had no income. Came and got motorhome. Live in Michigan. I have never received letter saying they were suing me. I am afraid to start a account because I'm afraid they will take it. Thank you for your help.

Adam Alexander
Adam Alexander answered on Feb 4, 2019

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...
Read more »

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