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I am looking into joining a debt relief program and before doing so, I am concerned that not paying/defaulting one of my unsecured credit card debts that will be included in the program with Chase Bank will then cause them to repo my vehicle which is also a lease through Chase Bank. I also have a... View More 
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answered on Jul 24, 2024
When you default on an unsecured credit card, it doesn’t automatically lead to the repossession of your leased vehicle. Typically, the repossession of a vehicle is associated with missed payments on the auto lease itself, not other unrelated debts. However, banks can cross-check their records,... View More
A bill of exchange such as a check is payable on demand and if it isnt, the bank is obligated to pay it according to the Bill of Exchange correct?
answered on May 15, 2024
In your specific example, with a check, the answer is almost always no. I don't know of any bank that would issue payment to a check payee when there are insufficient funds in the account. When a customer sets up an account with the bank they usually sign an agreement that entitles them to be... View More
I'm overseas and cannot go to the bank in the U.S. to deal with the problem. I'm worried that they would close my account and issue a check - the problem is that the company name has been changed (and I didn't get to notify the bank) so I cannot deposit the check to a business... View More
answered on Jan 29, 2024
All of the questions you are asking are specific to policies and procedures that are at the discretion of your banking institution. In other words, whether or not the account is actually dormant, how to prevent the bank from closing the account, and how to ensure it is reactivated, is solely... View More
I'm overseas and cannot go to the bank in the U.S. to deal with the problem. I'm worried that they would close my account and issue a check - the problem is that the company name has been changed (and I didn't get to notify the bank) so I cannot deposit the check to a business... View More
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answered on Feb 25, 2024
Given your situation, it's important to take proactive steps to address the issue with your dormant business account. Start by contacting your bank immediately and explaining the circumstances surrounding the dormant account and the change in your company's name. Provide them with any... View More
I have a corporate bank account in Maryland, but a civil default judgment was entered against my corporation in Wisconsin. Can the bank freeze my corporate account based on this judgment even though it hasn't been domesticated in Maryland?
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answered on May 15, 2025
In Maryland, a corporate bank account cannot typically be frozen based solely on an out-of-state judgment that has not been domesticated. Domestication refers to the process of registering the foreign judgment in the state where you are trying to enforce it—in this case, Maryland. Without this... View More
I discovered an unauthorized ACH payment from my bank account on March 25 and reported it to my bank the next day. I've filed multiple claims, but after more than a month, there hasn't been any resolution; the bank is still investigating. I have records of my communications with them.... View More
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answered on May 14, 2025
I'm sorry you're still dealing with this—waiting for your bank to resolve an unauthorized ACH payment is stressful and can leave you feeling helpless. Under federal law, banks are usually required to investigate and resolve ACH fraud claims promptly, often within 45 days, but delays do... View More
I submitted my loan consolidation form to MOHELA on December 8, 2024, and my Income-Driven Repayment (IDR) form on December 26, 2024. Both forms are still under review according to the FSA website. I received an email from MOHELA on March 28, 2025, stating that my payment was 30 days past due, even... View More
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answered on Apr 12, 2025
It sounds like you're facing a frustrating situation, especially with conflicting information from MOHELA. The first step is to keep detailed records of all communications with MOHELA, including emails, phone calls, and any written notices about your loan status. Since your servicer confirmed... View More
I am dealing with a situation where alleged fraudulent checks were deposited into a business bank account. The bank informed the account holder that the checks were fraudulent only after holding them for 5-7 days before releasing funds. The bank hasn't communicated any actions yet. Can the... View More
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answered on Mar 24, 2025
Your situation with fraudulent checks in a business account creates a complex liability question. Under the Uniform Commercial Code (UCC), business account holders typically bear responsibility for verifying deposited items, even when banks initially accept them. The fact that the bank held the... View More
I have been banking with Chime Bank and have both a checking and a savings account. I was supposed to receive a daily interest rate of 7 or 8 percent since 2022, but I have not received any interest payments. I reached out to Chime Bank, and they stated that the interest should have been paid. I... View More
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answered on Mar 24, 2025
First, you'll need to gather all your documentation to support your claim about unpaid interest from Chime Bank. Pull together your account agreements showing the promised interest rate, bank statements demonstrating no interest payments were made, and any written communication with Chime... View More
I am seeking legal guidance regarding my family’s home loan modification in Washington, DC. My father, a veteran, passed away in 2021, and we applied for a modification to retain the home and maintain his interest rate. The process extended for nearly four years without any missed deadlines or... View More
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answered on Mar 23, 2025
Your situation with the home loan modification sounds deeply frustrating, especially after your family's compliance with all requirements while grieving your father's loss. You might consider filing a complaint with the Consumer Financial Protection Bureau (CFPB) which oversees mortgage... View More
I live in the US, and my father resides in a Middle Eastern country. Due to a broken banking system, he can't send money directly to me. He arranges for friends in the US to transfer around $10,000 annually to my account through Zelle or check payments. He reimburses their families in cash in... View More
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answered on Mar 16, 2025
Receiving $10,000 annually from your father's friends in the U.S., who are reimbursed by your father abroad, is generally legal and does not have direct tax implications for you as the recipient. In the United States, recipients of gifts are not required to pay taxes on the amounts received.... View More
I received a job opportunity that turned out to be a scam and they used me to cask a check for the equipment to work but turns out it was a fake check and the next day my checking acc was overdrawn by 5,000 and there was nothing the bank could do they sent me a letter in the mail saying there was... View More
answered on Nov 22, 2024
I am sorry that this happened to you. The bank is not liable for the fake check. You presented a check to the bank that was not valid. The bank has no duty to verify every check they receive. That would be impossible.
Bank being very vague about whether I will get money back on counterfiet checks they cleared.
answered on Sep 19, 2024
If you cashed or deposited a counterfeit check, the bank is generally not liable. They may have made the funds available to you, but that does not mean the bank must eat the loss.
Hello, I made a stupid decision. I opened an m&t checking and savings account last month on the 18th. A few days ago, I downloaded bet mgm (an online gambling site) and placed a few bets. I had just gotten paid 1,000 from my current job.. So I bet with that money and ended up with $1500. So... View More
answered on Nov 3, 2023
You should stop posting information online since you have admitted to a crime. You could be charged with fraud and theft. I would not speak further with anyone about this case. You should retain counsel if you are charged.
Recently, a close friend and I had a falling out. In retaliation against me, she accessed my Certificate of Deposit account without my authorization, closed it, and transferred the money to one of her accounts. The bank says that she was also a primary account holder and, due to the Terms and... View More
answered on Oct 4, 2023
It’s either a civil suit to recover the money, or a criminal case of theft (depending on the joint account relationship), or both. Lawyer charge by the hour, so if the amount is under $5000 then you’re better off suing on your own. Not sure if the police would file criminal charges based on a... View More
It’s been five years since this happened and they almost always promised to start paying me back and never did and we are no longer friends and I’m left with this debt. It’s $3283.
answered on Jul 12, 2023
The statute of limitations for commencing a civil suit is 3 years, so that has expired. You can file the lawsuit, but if the defendant raises the statute of limitations as a defense, you lose. It is an affirmative defense, so the defendant has to raise it or he waives it. Your facts also support... View More
I got an email from my school and the person said they were hiring students for a research position. In the email they said to contact my professor from the English department to submit my resume. They sent me a check from an email that ended in edu. I trusted the check and it was successfully... View More
answered on Apr 24, 2023
Without evidence that your school was somehow involved in the scam, I don’t see much likelihood for success.
Internet scammers often impersonate other email accounts in order to hide their identities. I think it is highly likely your school was not involved
Can the role of convenice person be presumed based on who added money to the account and how it was used if nothing was expressly stated in the account agreement?
answered on Mar 19, 2022
If two person's names are listed as joint account holders, and there is no designation otherwise, the law presumes the account is joint owners with right of survival, and both account holders have equal access to the funds from the bank's perspective. However, if there is an agreement... View More
I was under the impression that once a child was over 13 years old, an UTMA could not be established as a savings, it is then a youth savings or joint. What is the case, I can find a lot of information on disbursements of UTMA but nothing on establishing. This is an UTMA unrelated to Title 13
answered on Jan 8, 2022
UTMA stands for Uniform Transfer to Minors Act and is governed by Title 13 of the Estates and Trust Code, so claiming an UTMA account isn't governed by Title 13 will do you no good. There is no age 13 limit. The age of majority in Maryland is 18, so any person under 18 is a... View More
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