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Maryland Banking Questions & Answers

1 Answer | Asked in Banking, Consumer Law and Collections for Maryland on

Q: Can a company you have a bill with take money from your checking account without a judgment

Bennett James Wills answered on Apr 17, 2019

Your question is unclear. You can't be garnished without a judgment. But a company could auto-draft your account if you signed up for such a service.

1 Answer | Asked in Banking for Maryland on

Q: I received a call from a mediator office for Citibank stating that I owe from a balance from over 6 years ago.

I originally paid a settlement amount of $600 via money order and now the mediator said they may pursue me in court. How can I avoid this from happening?

Mark Oakley answered on Mar 24, 2019

Two issues:

(1) Can you prove you paid $600 in full and final settlement of the claim? If so, how? You had better have this settlement in writing. If all you did was unilaterally pay $600 and write "in full and final settlement" on the payment, without express agreement of Citibank,...
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1 Answer | Asked in Banking and Bankruptcy for Maryland on

Q: My dad is filing for bankruptcy and has his name on my bank account. What does this mean for the money that is mine?

The account was opened for me when I got my first job at fourteen and he never took his name off of the account. All of the money in there is mine but he says his lawyer told him it would look like he is hiding assets if I take the money out.

David Gormley answered on Apr 27, 2018

Your father will have to list this account as an asset in his case. The question is how can he protect this asset with exemptions he has to protect assets. If he is filing a Chapter 7 bankruptcy the Trustee can take the nonexempt assets to distribute among the creditors. If he transfers an the... Read more »

1 Answer | Asked in Banking and Real Estate Law for Maryland on

Q: Can I buy a house without changing my address to that location?

This will be the first time I buy a house. I will only be spending part of my time there and the majority of my time in the neighboring state with my grandparents where my address is now. I would like to keep my address there since I will be there most, but I would like to buy my first house... Read more »

Cedulie Renee Laumann answered on Apr 10, 2018

Anyone can buy real estate for investment or other purposes and the law imposes no obligation to change residence just because someone buys real estate. However, a lender very well may require that a home be the borrower's principal residence to qualify for more favorable lending terms, so the... Read more »

1 Answer | Asked in Banking and Consumer Law for Maryland on

Q: Is a company allowed to completely drain your bank account to where its in the negative

My mother owes a company 7,000 they filed a lawsuit and won. Now they take 25%of her check and are draining her bank account empty so its overdrawn and she cant pay other bills is that allowed?

Bennett James Wills answered on Jan 5, 2018

Yes. They can garnish her bank account. There are certain protections she could have and may still be able to file such as exceptions. Consult local counsel.

1 Answer | Asked in Banking and Consumer Law for Maryland on

Q: Is a company allowed to completely drain your bank account to where its in the negative

My mother owes a company 7,000 they filed a lawsuit and won. Now they take 25%of her check and are draining her bank account empty so its overdrawn and she cant pay other bills is that allowed?

Cedulie Renee Laumann answered on Dec 29, 2017

Your mother would benefit from some legal advice. Generally it is difficult to recapture funds once they are taken. A judgment creditor has various enforcement rights and they include the right to seize assets belonging to the person who owes the judgment. These include the right to get a... Read more »

1 Answer | Asked in Banking, Business Formation, Business Law and Real Estate Law for Maryland on

Q: I paid cash for a house and am now renting it out. Is it possible to form an LLC and mortgage the house from myself?

I would like to mortgage 80% of the home value.

Cedulie Renee Laumann answered on Sep 28, 2017

If the question is "can an individual make a loan to a business they own," the answer is "generally, yes." The individual would of course need to report any interest income received. If the question is "can a business make a loan to an individual who owns the business" the answer is "it... Read more »

1 Answer | Asked in Estate Planning, Banking and Probate for Maryland on

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Q: Can a bank reject a letter of administration because it is dated 2009?

Details: My mom died in 2009 and my sister is her PR. The estate was closed in 2010 and then she just closed the estate bank account last year. This year, she received a check for unclaimed property paid to the order... Read more »

Kenneth V Zichi answered on Sep 21, 2017

It sounds like the bank is suggesting your sister needs to REOPEN the estate (with the courts) and then handle the check.

There MIGHT be a simpler process depending on the size of the check etc, so I'd recommend consulting with a local attorney (the one who helped with the probate the...
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1 Answer | Asked in Criminal Law, Banking, Stockbroker Fraud and White Collar Crime for Maryland on

Q: I have been sentenced but now have new evidence in my case. I wish to file a motion for reconsideration.

My attorneys do not understand real estate and as such do not understand the value of the new info thus I wish to file pro se. Need to know how to address in the motion i am doing the motion pro se

Thomas Joseph Maronick Jr answered on May 25, 2017

How long since sentencing? If within 10 days of your trial date you can ask for a new trial. If within 30 days of disposition you can appeal, if within 90 days you can ask for a modification of sentence. Depending on what court you are in, likely will need to file a coram nobis for a new trial... Read more »

1 Answer | Asked in Estate Planning, Family Law, Banking and Probate for Maryland on

Q: As one beneficiary on a bank account, how can I collect my share of funds if another beneficiary won't cooperate?

My grandma died in December 2015 and left the funds in her bank account to me, my uncle, and my aunt. The funds are to be split equally among all 3 of us and will only be disbursed when we have all notarized a form and submitted it to the bank. My aunt has refused to get her form notarized, meaning... Read more »

Richard Sternberg answered on May 25, 2017

Sue her and/or the bank.

2 Answers | Asked in Banking, Criminal Law, Identity Theft and Gaming for Maryland on

Q: If i get a fake (non-working) credit card online , and when i go to buy something, it works...what will happen? imnot18

Bennett James Wills answered on Feb 4, 2017

If you are intentionally using a credit card that you know does not work or is not actually your account and you use it to try and purchase something - then you are potentially committing theft. You risk being charged with a crime.

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