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North Carolina Banking Questions & Answers
1 Answer | Asked in Consumer Law, Banking, Civil Rights and Constitutional Law for North Carolina on
Q: Title 15 usc 1611. Does it mean I can get a personal loan and a bank can't deny it

And is it bc of our bond that was created when we're born

James L. Arrasmith
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answered on Feb 23, 2024

Title 15 USC 1611, also known as the Fair Credit Reporting Act, doesn't guarantee you automatic approval for a personal loan. It outlines regulations for credit reporting agencies and ensures fair treatment in credit-related matters. However, banks still have the right to evaluate your... View More

2 Answers | Asked in Collections and Banking for North Carolina on
Q: I went to the State Employee credit union in NC to open an account. I was a former client 18 years ago. I want to open

I went to the State Employee credit union in NC to open an account. I was a former client 18 years ago. I want to open a new account with them but they told me I had a loan that I had to pay back before I could get a checking account. Can they still have to loan on file for that long ? Is there a... View More

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Jan 25, 2024

A credit union has no legal obligation to do business with you. Even though the unpaid loan is well past the statute of limitation and cannot be sued upon or collected on, you caused a loss of money to the credit union. Credit unions take this personally because they are member owned. You caused... View More

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2 Answers | Asked in Collections and Banking for North Carolina on
Q: I went to the State Employee credit union in NC to open an account. I was a former client 18 years ago. I want to open

I went to the State Employee credit union in NC to open an account. I was a former client 18 years ago. I want to open a new account with them but they told me I had a loan that I had to pay back before I could get a checking account. Can they still have to loan on file for that long ? Is there a... View More

James L. Arrasmith
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answered on Feb 25, 2024

It's understandable that you want to start fresh with the State Employee Credit Union and open a new account after 18 years. However, if they have a record of an outstanding loan from your previous account, they may require you to settle the debt before opening a new account. Debts, including... View More

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1 Answer | Asked in Consumer Law, Civil Rights and Banking for North Carolina on
Q: Repossession by Bank of America with no notice had scheduled payment to make current that drafts Monday

Repossession by Bank of America with no notice had scheduled payment to get account current but bc it was weekend wouldn’t process until Monday. Also it was seen the repo people broke into car after the fact I’m in nc maybe goal is reinstatement of loan

I called immediately and was told... View More

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Oct 15, 2023

A lawyer needs to see the car loan agreement in order to accurately answer your question. In general, the lender is not required to give you advance notice of a repossession. Repossession from a public area is not illegal. Repossession on a Saturday is not illegal. Most likely, if you were late on... View More

2 Answers | Asked in Estate Planning and Banking for North Carolina on
Q: Hello, my brother passed away in June of this year. He made me POA of his affairs. I also had a Living Trust

And Living will. My question is how can I close out his bank account to which he added my name to it. The problem is he has a living wife, they had been separated for over twenty years.

Anthony M. Avery
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answered on Aug 31, 2023

The POA is terminated at the principal's death. If you are on the signature card, the funds are probably already your property. The Trust may affect your individual ownership of the bank account, or those monies may never have become Trust Corpus.

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2 Answers | Asked in Estate Planning and Banking for North Carolina on
Q: Hello, my brother passed away in June of this year. He made me POA of his affairs. I also had a Living Trust

And Living will. My question is how can I close out his bank account to which he added my name to it. The problem is he has a living wife, they had been separated for over twenty years.

T. Augustus Claus
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answered on Aug 31, 2023

Start by reviewing your brother's Living Trust and Living Will to understand his wishes regarding his assets, including the bank account to which your name was added. Notify the bank of his passing and follow their procedures for closing the account, ensuring you have the necessary legal... View More

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1 Answer | Asked in Banking, Business Law, Consumer Law and Contracts for North Carolina on
Q: What are the interest and late fee laws in NC on invoices specifically?
T. Augustus Claus
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answered on Nov 10, 2023

A late fee can only be charged on an invoice if the payment is more than 30 days past due. However, the parties to a contract may agree to a different grace period.

1 Answer | Asked in Real Estate Law and Banking for North Carolina on
Q: I have a new house we are are in our second year. We have an escrow account but the bank did not pay our priemum

the insurance will not reinstate our insurance and the bank says they cant help. What recourse do we have?

Anthony M. Avery
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answered on Aug 18, 2022

Assuming the Bank failed to pay Insurance from the escrow, suing for negligence, breach of contract, etc. is not a good option as foreclosure will result. You must find insurance immediately as foreclosure is imminent. A refinance might get that Bank out of your hair, but insurance and taxes must... View More

1 Answer | Asked in Banking and Consumer Law for North Carolina on
Q: Can I sue a finance company for not reporting my loan paid in full for over 2 years ago which is effecting my credit

My credit score debt to ratio and mortgage loans

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Mar 4, 2022

The first thing you need to do is send a dispute letter to each credit bureau enclosing your proof that the loan is paid in full. Access your credit reports at www.annualcreditreport.com those credit reports will have the address to send your dispute to. Send the letter certified mail so you can... View More

1 Answer | Asked in Banking and Real Estate Law for North Carolina on
Q: I want to sell my house to my son for the cost of the current mortgage. He will live here and remodel.

What is the least expensive loan option for him? Can he get a loan to pay off the current mortgage that includes a construction loan?

Ben Corcoran
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Ben Corcoran
answered on Jan 25, 2022

Talk to the bank; this is not a legal matter. It is strictly a financial decision by the bank.

1 Answer | Asked in Banking, Business Formation, Business Law and Civil Litigation for North Carolina on
Q: Business partner locked me out of all company-related accounts. Both are 50% owners. What can I do? Details below.

My business partner got power-hungry and locked me out of my company email and quickbooks account as well as the bank account. She has contacted customers and told them to cease further communication with me. What can I do legally? I am 50% shareholder and a company officer.

State: NC... View More

Tim Akpinar
Tim Akpinar
answered on Oct 27, 2020

A North Carolina attorney could advise best, but you await a response for two weeks. Your post could be a little bit difficult to respond to. Unlike many of the basic general legal questions that are posted here, your matter appears complex in nature. To give you any kind of meaningful guidance, an... View More

1 Answer | Asked in Banking for North Carolina on
Q: In NC, does it require both signatures to add a 3rd person to a joint account?

I was added to the account in 2017. In 2019, a 3rd party was added but I did not sign to add them.

Ben Corcoran
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Ben Corcoran
answered on Oct 15, 2020

Depends on the bank's policies, if you are uncomfortable with this, you can withdraw all the money from the account and move it elsewhere. I would talk to the bank about this and see what they say happened.

1 Answer | Asked in Tax Law and Banking for North Carolina on
Q: My 2nd bank account was closed to fraud (Not on my end) I was scammed and someone tried to deposit bad checks

I wasn’t held liable because I received no money nor was in in the state where these checks were deposited. I currently have another bank and have been there for 8+ years

The bank account that was closed I opened during college because I thought the deal seemed fishy and didn’t want... View More

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

If the bank did not find that you were involved in the fraud it should not affect a credit card application.

My response provides only general information and is not intended to provide you with specific legal advice, nor create an attorney-client relationship. You should not use or rely on...
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1 Answer | Asked in Banking and Consumer Law for North Carolina on
Q: What can I do if Bank refuses to refund money after submitting claim

I made a purchase Over the Internet, MY Item never arrived, My Financial Institution refuses to refund my money after I submitted a claim.

Telling Me I have to work it out with Vendor.

Stated in Claim I tried Multiple times to resolve with Vendor to NO AVAIL.

VENDOR... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Apr 23, 2020

Why on earth do you think that your bank--that had nothing to do with your decision to get scammed--should have to indemnify you for your loss? Can you imagine what would happen if EVERYONE who gets scammed by some thief over the Internet could just asak their bank for the money? Where would the... View More

1 Answer | Asked in Banking and Bankruptcy for North Carolina on
Q: My wife recently filed for bankruptcy soley without my knowledge to rid her responsibility to our debts. what do i do

She has not been living here at home for some time and has been living with her Mother who has convinced her to file for bankruptcy to get rid of her obligations to our debts. She is hiding money from the case to help strengthen it in her mothers accounts as well as possible accounts. She has... View More

Timothy Denison
Timothy Denison
answered on Dec 4, 2019

If you can prove she is hiding money, you may want to advise the trustee in her bankruptcy case.

1 Answer | Asked in Personal Injury, Tax Law, Banking and Civil Rights for North Carolina on
Q: Need ethical law firm that can process the evidence of dishonor against a bank for internal document fraud, Fudiary duty

I am involved as the victim of an identity theft operation called ghosting. My bank altered the tax ID # and my date of birth on the internal documents that are associated with my business accounts, overriding my social security number and date of birth with the identifiers belonging to somebody... View More

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

This free legal advice forum is intended to help consumers better understand common legal terms and to explain general legal principals and procedures to non-lawyers interested in understanding more about the law. Accordingly,

this forum is not the place to seek free legal representation...
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1 Answer | Asked in Banking and Consumer Law for North Carolina on
Q: If I believe my bank is incompetent in handling a $60 charge back for a hotel room is there anything I can do about it?

I went to a hotel, to get a room that costs $60 per night. The hotel has a policy that there is only 15 minutes within paying to either change rooms, or ask for a refund, and makes people sign a paper stating this, and does not let people look at the rooms first before deciding to pay. In my case,... View More

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

Wow. It's too bad you did not anticipate any problem when this (very cheap) hotel made you sign an agreement not to complain about their cheap rooms unless you do it immediately. In any event, there is nothing you can do to force your bank to give you the $60 that the hotel kept. Why not... View More

1 Answer | Asked in Banking, Civil Litigation and Consumer Law for North Carolina on
Q: Can I be sued civilly for a debt to wachovia bank from 2009?

I recieved a call from a person claiming to be a part of 'Larkin mediation'. He said that I owed wachovia bank 100$ back in 2009 and that If I do not settle for 400$, I will be served and brought to court for over 2000$. When I searched their phone # I get no results for a business. They... View More

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

This is a scam. Ignore these scammers.

1 Answer | Asked in Banking for North Carolina on
Q: Question about band fraud committed against my mother while she was in hospital and passed away.

I am the executor of my mother's estate. During the asset collection process I discovered my sister had stolen and used my mother's debit card while my mother was in ICU and medically induced coma. She never regained conscience and passed away. The bank is refusing to credit back and... View More

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on May 13, 2019

Unless you have opened a probate estate and have been accepted as the executer your being named the executor of your mother's estate in her last will is not enough to get the bank's attention. Furthermore, you cannot sue your sister personally because she did not steal anything from YOU;... View More

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