Tennessee Banking Questions & Answers

Q: Can a lender charge 1% more on interest day before closing to discurage me not to buy ?

1 Answer | Asked in Banking and Real Estate Law for Tennessee on
Answered on Jan 10, 2019
Anthony Marvin Avery's answer
Probably they can, especially if you agreed to it by signing the Note and the Deed of Trust. If they gave you some specific reason why they did not want your business, then it might be something to report to HUD, but I doubt there is any merit. Also you are talking about going after the Lender that you just gave a Deed of Trust to, who might just decide to foreclose.

Q: I recieved a check from Craigslist for a job opportunity. opened a bank account with that check.

1 Answer | Asked in Banking, Civil Litigation and Criminal Law for Tennessee on
Answered on Aug 11, 2018
Mr. Kent Thomas Jones Esq.'s answer
If you receive a check from an unknow force, don't take any money from it until it clears the bank.

Q: Hi, I have a wage garnishment and the account is showing as close can they still take my wages? Because they still are

1 Answer | Asked in Employment Law, Banking and Collections for Tennessee on
Answered on Aug 6, 2018
Mr. Kent Thomas Jones Esq.'s answer
It depends.

I don't know enough facts about your case to answer that. You should consult with a local civil attorney.

Q: I filed for bankruptcy in March I was arrested for a worthless check in April that’s inculded in my bankruptcy

1 Answer | Asked in Banking and Bankruptcy for Tennessee on
Answered on Apr 26, 2018
Timothy Denison's answer
The automatic stay does not operate to stay criminal prosecutions for criminal acts. While the stay would prevent the creditor with the worthless check from proceeding against you civilly, it does not stay criminal action for the crime of writing the worthless check. The worthless check debt most likely will not be discharged in bankruptcy although your lawyer properly included it in your bankruptcy. Hire a criminal defense attorney to resolve the bad check case. It likely can be dismissed...

Q: I had a payday loan and have not been able to pay it back yet. they are now sending me threatening emails..Is this legal

1 Answer | Asked in Banking and Collections for Tennessee on
Answered on Apr 17, 2018
Bennett James Wills' answer
Debt collection agencies are not allowed to use harassing tactics to collect a defaulted debt pursuant to the Fair Debt Collection Practices Act. Consult local counsel to determine if you have any options.

Q: im 18 years old and my dad has been keeping my bank card and he wont give it to me and im moving out what do i do

1 Answer | Asked in Banking and Family Law for Tennessee on
Answered on Feb 16, 2018
Marjorie A Bristol's answer
Go to the bank and ask for a new one. They will cancel the one your dad has and issue a new one. Some can even give you a temporary card on the spot.

Q: Bank account levied. Creditor has judgement. Can I motion to Quash?

1 Answer | Asked in Banking, Small Claims and Collections for Tennessee on
Answered on Feb 5, 2018
Bennett James Wills' answer
You could file a motion to quash a garnishment and/or a slow pay motion to try and get some relief.

Q: My MIL passed away earlier this month, no will. She has money in her bank acct, can we withdraw it? If so, how?

1 Answer | Asked in Banking and Probate for Tennessee on
Answered on Jan 31, 2018
Marjorie A Bristol's answer
You should call the bank and see if she named a beneficiary upon death. If she did, then the money belongs to that person.

Q: I pawned my wedding ring on 8.11.17...for 250$.on 11.21.17 I went to get it and they said I owe 600$!!! I read the law..

1 Answer | Asked in Banking, Consumer Law and Contracts for Tennessee on
Answered on Nov 23, 2017
Mr. James Charles Wright's answer
You are right as to the fee and 2% interest per month...24% per annum. In 93 days the amount on 250 would not be 600. You should contact the local attorney general and advise them of what you believe is an unlawful practice.

45-6-210. Rate of interest Other charges permitted.

In connection with and for a pawn or pawn transaction, no pawnbroker shall demand and receive a rate of interest greater than two percent (2%) per month of the amount of the loan advance under the pawn...

Q: My spouse and I married later in life.

1 Answer | Asked in Banking and Family Law for Tennessee on
Answered on Oct 10, 2016
Leonard Robert Grefseng's answer
If the account was created after you got married, there is a high probability it will be considered "marital property" under Tennessee law. You need to obtain and retain the closing documents from the sale of your prior to show that you contributed to the account. You wife may try to testify that you were making a "gift" to her of these funds, but that seems unlikely since she permitted you joint access for some time period. The term "marital property" has a legal definition, and it is not...

Q: I owe a lot in back child support. I had my first child young and hit with it after turning 18. Can my bank be levied?

1 Answer | Asked in Banking and Child Support for Tennessee on
Answered on Sep 26, 2016
Leonard Robert Grefseng's answer
If a judgment has been ordered, issuing a levy on a bank account is one of the methods of collection. However, you say you are paying the current support and a monthly payment on the arrearage, and if so, its seems unlikely that they will go further. They are getting the money and a little extra. However, if you have a large balance in the account, ( and they know about it) it could be seized in a levy.

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