My friend and I have friends with businesses that want to loan money from us at regular intervals. The minimum loan is $10,000 and maximum is $40,000. We are opening a joint bank account for the purpose of giving out loans to our friends and family. We want to charge 10% for a 4 month loan term... Read more »
If the loan agreement is in writing, interest in a loan my not exceed 24% per year, and must comply with numerous other legal requirements in order to avoid the risk of violating the users laws. Owing 10% interest at the end of 4 months is an effective annual interest rate of 30%. Not only is the...Read more »
They say I owe them money but will not answer my emails for months. They are in another state entirely and all I want are my drums back. They actually owe me money for services not rendered but are saying I owe them for storage fees which were never discussed until I wanted to pull the plug on... Read more »
Your rights will be defined by what your agreement with the drum company was- plus equitable principles to fill in the gaps. You can hire an attorney to demand the return of the drums and/or work out a deal with the company- or you might be able to sue them.
If you are planning to remain married to him, the only way to find out is to go online to Maryland Judiciary public case search and see if there was in fact a lawsuit. If you are planning on divorcing him, that information can be obtained though the discovery process.
Yes. However, all persons in Maryland have statutory exemption rights. Basically, there are various dollar amounts that you can exempt from attachment by judgment creditors. Chief among those exemptions is the $6,000 “wild card” exemption that can be used on any asset you own, including cash in...Read more »
I purchased shoes online and received some that had clearly been used and returned. I am being asked to send them back before anything can be done and that is upsetting me. Do I have to send it back for them to refund my money or help me at all?
After months of not speaking with me the friend now wants to take me to court for money that is not a loan. Would this action fall under Title 5 Subtitle 9 5-901 Executory Contracts? The amount was 800 however the friend is stating in court that it is $1200. How do I fight this? I offered to pay... Read more »
Your matter is pretty fact dependent, however generally, a "gift" is a voluntary transfer of property by one to another, without any consideration or compensation provided to the transferor. Thus, a gift is a gratuity. Determining whether the money...Read more »
Legal title means it’s yours. You own it. You cannot be charged with theft of your own property. You can be charged with trespassing, however, or assault if you go there and a fight ensues. If the vehicle is in the public street, go get it (use a spare key or have it towed). If not, or if you...Read more »
He only has Social Security payments and a very small pension. The SS payments are eaten up by the cost of the Assisted Living facility. The pension is below $150. The credit card debt occurred when he suffered a series of strokes and seizures which has necessitated him living at the assisted... Read more »
The beginning of the measuring period is the date you knew, or should have known, of the wrong. It is generally 36 months for contracts and civil lawsuits. There are exceptions: in some cases measuring years are shorter (one year for assault and battery) and longer (12 years) for contracts under...Read more »
Yes, they may be able to do that if his name is added. If your bank offers the ability to title the account as “tenants by the entireties” then that would prevent attachment. In Maryland ordinarily only titles to real property are held that way, unlike DC where all property jointly held by...Read more »
The private lender has charged me interest only on a mortgage loan. part of the loan was repayed in Sept 2018 and the balance principal was only supposed to be $7k. The lender and lawyer has been going back and forth with the amount that I owe - from 32k to 9k then to 14k and now I am ready to... Read more »
You can check the registration status of your lender through NMLS (the Nationwide Multistate Licensing System / Nationwide Mortgage Licensing System and Registry). They maintain a consumer oriented website, here:
If the notary is applying for the loan, he cannot notarize his own signature. Almost all settlement agents are notaries. And, notaries can of course be a witness. That’s pretty much what a notary is: a witness to the authenticity of a signature. Maryland Law does require deeds and deeds of trust...Read more »
I cannot determine whether your inquiry is from Virginia or Maryland, but, in Maryland, there is a specific rule requiring the filing of a paid & satisfied line when judgment is paid. I haven't researched it in quite a while, but there may be available awards including attorneys fees for failure to...Read more »
I have a chapter 13 that I finished paying in April 2018 and one of the creditors has been unreachable and they cannot send the payment to them so the Trustee will not close the case or discharge it until this happens, but in the meantime I am in need of buying a new car and nobody will give me... Read more »
On the surface, I see no reason you couldn't structure your late fee in that manner. But you should clearly say it is capped at 10% per late payment. Or, you could charge the 10% on the 15th day with a discount credited if they paid between 15 and 22 days late. Or, just keep it simple and charge...Read more »
But are listed on the mortgage note, as the Lender. The loan has been sold and transferred several times. The latest one it was transferred or sold to is Ocwen Loan Servicing. They've had the loan twice.
The beneficiary under a Deed of Trust IS the lender.
Although this online forum is not designed to seek legal research on specific issues / entities / matters, you can check with the State Department of Assessments and Taxation (SDAT) for information on the last known resident agent for...Read more »
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