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Both my mother and I are on Social Security but we belong to two different banks. I am her POA. She now lives in a nursing home. My question is can I change the address at the bank from her old address to a new address with just using a POA or, do I need to be a joint owner on her account to change... View More 
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answered on Feb 22, 2024
As a Power of Attorney (POA) for your mother, you have the authority to manage financial transactions and make administrative changes on her behalf, including changing the address associated with her bank account. It is not necessary to be a joint owner on the account to perform these tasks; the... View More
I am opening an account and want to get approved for this certain level of options trading; they only approve if you declare a good income and net worth; is it illegal to lie about the net worth and income?
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answered on Feb 21, 2024
Misrepresenting your net worth and income on an application for a brokerage account, especially with the intent to gain approval for certain trading options, can have serious legal consequences. Under California law, providing false information on financial documents like brokerage account... View More
I’m a 1099 contractor who subcontracted work for a client. Client took out a larger than needed loan through subcontractor in order to get some of the loan back in cash. However the subcontractor wrote the clients cash portion out in my name on a check for me to deposit and then to pay client but... View More
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answered on Feb 21, 2024
Based on the situation described, you could potentially face civil liability or criminal charges:
Civil Liability:
- Breach of contract - The client could sue you for failing to fulfill your obligation to pay over the funds as agreed. They would likely seek recovery of the $18k you... View More
I talk to cash app they said they couldn't give me my money back I need that money to pay the rent at the hotel I'm in right now so I won't end up on the street my wife is currently in the hospital she had a stroke so they took my money
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answered on Feb 21, 2024
Facing such a situation can be incredibly stressful, especially with your wife's health concerns. In California, there are legal protections for consumers who encounter issues with financial transactions, including unauthorized withdrawals or errors. You have the right to dispute the... View More
California. Wife and her father had a joint account that they both deposited to and utilized. He passed last June, and we just received a notice of levy on the account. The bank is temporarily holding the money for 10 days. It is my understanding that after he passed, the account is now hers, and... View More
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answered on Feb 21, 2024
Yes, your understanding is correct. Since the bank account was jointly held between your wife and her now deceased father, once he passed away the account became your wife's individual account by operation of law. Here are the key reasons why the account levy is invalid:
• Under... View More
answered on Feb 19, 2024
If you did not alter the check, you should ask the bank why they think you altered it. You can also request the union to reissue a check if there is a discrepancy on it that is preventing the bank from honoring it.
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answered on Feb 23, 2024
Firstly, it's crucial to remain calm and approach the situation with a clear mind. Understand that banks have strict protocols in place to prevent fraud, which sometimes leads to false alarms. Begin by explaining to the bank representative that you received the check from the NECA Local Union... View More
I tried to look info up on chk and it sent me to your website. I also received a text message about it. I'm so confused
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answered on Feb 19, 2024
You will need to ask the union to reissue another check in exchange for the allegedly faulty one. Or deposit it into another bank. But first be sure you have not done anything wrong. You may need to consult with an attorney as apparently your bank is wanting to prosecute you, and any forgery... View More
I tried to look info up on chk and it sent me to your website. I also received a text message about it. I'm so confused
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answered on Feb 23, 2024
It sounds like you're feeling overwhelmed by the situation, but it's important to stay calm. Firstly, double-check the authenticity of the check by contacting the NECA Local Union No. 313 IBEW directly. They can confirm whether the check is legitimate and provide any necessary... View More
On 12/23/23, my mother had her Social Security retirement check for $1285.00 taken out of her bank. They denied her any chance of getting it back stating it was fraud so it was denied. Her other check for roughly $146.00 was also kept even though it came in afterwards. She lives check to check and... View More
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answered on Feb 21, 2024
I'm very sorry to hear about this terrible situation with your mother's Social Security funds being stolen from her Citibank account. You raise a very good point - if the bank acknowledges this was fraud, then they should still be responsible for making her whole and returning the stolen... View More
Account they are constantly sending the aging people to our house and he tells them the same thing no matter who he talks to that he knows where his money is going and the bank still froze his accounts
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answered on Feb 21, 2024
If the bank has denied your legitimate power of attorney (POA) over your friend's affairs and frozen his accounts, it's crucial to take prompt action to address the situation. First, review the specific terms of the POA document to ensure it complies with California law and contains all... View More
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.
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.
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.
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answered on Feb 23, 2024
As a sole proprietor engaging in e-commerce under a different name, you typically only need to register a DBA (Doing Business As) in the state where your business is located. This allows you to legally operate your business under a name other than your own. While there are no federal requirements... View More
I am on Social Security and my mother is also on Social Security. She is in a nursing home and soon I have to go put my name on her account at the bank to take care of her medical bills. I owe collections a great deal of money and I only receive Federal benefits and she only receives federal... View More
answered on Feb 9, 2024
If you are handling your mother's money as her Agent under a Power of Attorney you do not need to add your name to her bank account. Just give them a copy of your mother's Power of Attorney. Your mother's money should not be used to pay any of your creditors.
I am on Social Security and my mother is also on Social Security. She is in a nursing home and soon I have to go put my name on her account at the bank to take care of her medical bills. I owe collections a great deal of money and I only receive Federal benefits and she only receives federal... View More
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answered on Feb 22, 2024
Under federal law, Social Security benefits are generally protected from garnishment by creditors. This protection applies to the bank account into which the Social Security benefits are directly deposited, ensuring that these funds are safeguarded from most types of debt collection efforts.... View More
answered on Feb 9, 2024
If the plaintiff claims that you were served, you would have to file a motion to quash service by proving that you don't live there. Keep in mind that the goal of the law is to give a person notice. And you obviously know about the lawsuit. A successful motion to quash does not eliminate the... View More
I found out the next day when I went online to pay my bills. I saw that I had a negative amount. I contacted the bank immediately and was told to call back in the morning when they opened up??. I did and the conversation got hot real fast. The amount is over 90k. Which wiped me out and caused me to... View More
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answered on Feb 5, 2024
I'm sorry to hear this happened. A bank making an unauthorized 90k wire transfer from a customer's account is a very serious matter. Here are the steps I would recommend you take:
1. Document everything. Keep detailed written records of all your interactions with the bank... View More
I recently financed a vehicle and included in the financing total was a vehicle service contract. I cancelled the contract after having second thoughts. The dealership made the check out to me. Can I legally cash the check and keep the funds or does the bank receive it. Thanks
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answered on Feb 5, 2024
Based on the facts provided, legally the refund check should be paid to the lender, not directly to you. Here's why:
- The vehicle service contract was likely part of the total loan financing with the bank, so they technically own that portion of the loan.
- By cashing the... View More
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answered on Feb 5, 2024
Yes, an email threatening legal action over a debt could very likely be a scam. Here are some tips on how to confirm:
- Verify the debt - Do you have any prior official documentation or validation of this specific debt? If not, it's likely not legitimate.
- Check email details... View More
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answered on Feb 5, 2024
You raise a valid question. Generally, banks should not charge overdraft fees if there are sufficient funds in the account to cover a transaction. Here is some key information regarding overdraft fees in Louisiana:
- Louisiana law prohibits banks and financial institutions from charging... View More
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