Legal

Ask a Lawyer and Get Answers to Your Legal Questions

Ask a Lawyer,
Get an Answer ASAP!

Legal
This answer was rated:

I have to default on my loans i have 5 position loans.

i have to default on...
i have to default on my loans i have 5 position loans
JA: What state is this in? And when did the issue begin?
Customer: california
JA: Has anything been filed or reported?
Customer: yesterday
JA: Anything else you want the lawyer to know before I connect you?
Customer: nothing has been filed but i cant pay them right now, in a month we will have more funds
Show More
Show Less
Ask Your Own Legal Question
Answered in 1 minute by:
10/23/2017
Law Educator, Esq.
Category: Legal
Satisfied Customers: 120,080
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

What is your question for us about this matter?

Ask Your Own Legal Question
Customer reply replied 1 month ago
i have merchant cash advances that i cant pay as of yesterday
Customer reply replied 1 month ago
i have signed DOJ's and it is in the state of New York, I have a business in california

What is your question for us about this?

Ask Your Own Legal Question
Customer reply replied 1 month ago
I need to know how to navigate this, how long before they try to freeze my account and can they take my house?
Customer reply replied 1 month ago
If i block them from taking payments from my account can i hold them off for a few weeks and restructure or make a deal or will it be too late?

Thank you for your reply.

IF you signed this as a business loan, but secured it as a personal guarantee, they can take both your business and your home through a lawsuit and getting a judgment against you. So, it will generally take them at least 60 days before they notify you of default and another 30 -60 days before they sue you and seek a judgment. By the time they get a judgment and can seize anything from you typically it would be almost a year. So you have time to fix things an straighten these issues out with them and get payments caught up

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Ask Your Own Legal Question
Customer reply replied 1 month ago
these are MCA Cash advances does this apply and will they freeze my bank account ?

Thank you for your reply.

Yes, it applies the same. They can try to seize your bank accounts, but if you get your money out before they do there will be nothing for them to take from your bank account.

Ask Your Own Legal Question
Customer reply replied 1 month ago
can they go after my other accounts?

Yes, once they get a judgment against you they could go after all of your accounts in your name. If you take your name off of the accounts they would be safe.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Ask Your Own Legal Question
Customer reply replied 1 month ago
Even though i signed a DOJ typically how long does it take for them to get the judgement a seize my bank account?
Customer reply replied 1 month ago
even though it is a MCA, it will still take them 60 days to notify me of a default , and they wont be able to seize my accounts until a judgement for another 30? Just want to be sure that they dont have an accelerated judgement process

Even though you signed a DOJ, it still typically will take them 30-60 days on average and if you have nothing in your accounts, there is nothing really for them to seize, so you need to make preparations. If you signed the DOJ, that speeds things up a bit but it still will take them 30-60 days.

Ask Your Own Legal Question
Customer reply replied 1 month ago
how do i get my name off of the business if i am the 100% owner can i transfer ownership to my wife?

Thank you for your reply.

You would not be able to transfer your name off the business to get rid of the liability for the loan. Also, you cannot just put it in your wife's name, CA is a community property state, so they could go after her assets as well as your assets. You need to move the bank accounts into some other name other than you or your spouse.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Ask Your Own Legal Question
Customer reply replied 1 month ago
Like a DBA? I'm not sure what you mean

Thank you for your reply.

No not like a DBA, like take your name off the bank accounts you want to protect and put someone else besides your wife that you trust on those accounts.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Ask Your Own Legal Question
Customer reply replied 1 month ago
even though the company name is ***** ***** the account i can put someone else's name on the bank account?
Customer reply replied 1 month ago
If i have called my bank to stop the drafts will that be a breach of contract? Does that accelerate anything?
Customer reply replied 1 month ago
if i put my step son on the account is that ok?

Thank you for your reply.

First off, your company account for a company debt you cannot protect, do not think about changing names on it. I was referring to your personal accounts to protect those accounts.

Law Educator, Esq.
Category: Legal
Satisfied Customers: 120,080
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
Verified
Law Educator, Esq. and 87 other Legal Specialists are ready to help you
Ask your own question now
Joycelaw
Joycelaw, Attorney
Category: Legal
Satisfied Customers: 102
Verified
Phone call session started
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 120,080
120,080 Satisfied Customers
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Law Educator, Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

Ely

Ely

Counselor at Law

24,325 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

20,642 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

120,080 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo J. Senmartin, Esq.

Guillermo J. Senmartin, Esq.

Attorney

290 satisfied customers

7+ years of experience handling various legal matters.

< Previous | Next >

Related Legal Questions
I have a breach of contract against me that began according
i have a breach of contract against me that began according to the paperwork 08/12/04 … read more
Ely
Ely
Counselor at Law
Juris Doctor
24,325 satisfied customers
I received a summons for breach of contract with Lowes
I received a summons for breach of contract with Lowes credit card. My income is Social Security, I am 64. My husband is not on the contract, but is 76 years of age and is also on Social Security and … read more
John
John
Attorney
Doctoral Degree
5,803 satisfied customers
I have someone who breached their contract by breaking an
Hello, I have someone who breached their contract by breaking an NDA and I am trying to find out if the evidence I have is enough to bring charges against them. … read more
Roy Hadavi
Roy Hadavi
Attorney
Juris Doctorate
932 satisfied customers
I am being sued for breach of contract by a financial
I am being sued for breach of contract by a financial advisor who has sent me an a time list of "extra services he has performed that,he claims, outside his contractual fees. He is suing me for $33,00… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
20,642 satisfied customers
How can I resend a deed do to breach of contract and fraud?
How can I resend a deed do to breach of contract and fraud ? … read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
I am being sued for breach of contract but i did not breach.
I am being sued for breach of contract but i did not breach … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,708 satisfied customers
I had a breach of contract with a venue, they did not want
I had a breach of contract with a venue, they did not want to host my event again despite having a paid in full contract with them months prior to the event date---i want to take them to small claims … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I have a breach of contract action in progress that requires
second opinion] I have a breach of contract action in progress that requires a declaratory judgement affirming the contract's validity. Defendant claims the the contract is flawed due to drafting erro… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
120,080 satisfied customers
How do I defend myself againt a breach of contract claim for
how do I defend myself againt a breach of contract claim for a cash advance due to hardship? … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,570 satisfied customers
I have a breach of contract action in progress that requires
second opinion] I have a breach of contract action in progress that requires a declaratory judgement affirming the contract's validity. Defendant claims the the contract is flawed due to drafting erro… read more
LegalGems
LegalGems
Juris Doctorate
10,368 satisfied customers
I have a breach of contract action in progress that requires
I have a breach of contract action in progress that requires a declaratory judgement affirming the contract's validity. Defendant claims the the contract is flawed due to drafting error and has made c… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
20,642 satisfied customers
A former employee of a small commercial loan brokerage
A former employee of a small commercial loan brokerage terminated his relationship with company over 7-years ago before an earned commission was paid to the brokerage. The commission was not paid at l… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
6,299 satisfied customers
The attorney for the defense, in a breach of contract civil
The attorney for the defense, in a breach of contract civil suit, while talking to the pro se plaintiffs admitted that his client did in fact breach our contract. What can the pro se due with this adm… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,708 satisfied customers
I had a breach of contract from my apartment complex giving
I had a breach of contract from my apartment complex giving out my info to inmates at a jail I work at and I fear for my safety because the inmates know where I live, what can I do. … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
34,866 satisfied customers
I need an attorney to file a Breach of Contract against
I need an attorney to file a Breach of Contract against Cigna Insurance Co. It is NOT a Medical Malpractice. … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
120,080 satisfied customers
If someone sues me for a breach of contract and they are
If someone sues me for a breach of contract and they are trying to add up debatable if not erroneous monies indirect of the contract (like pain and suffering, missed vacation etc) they want to recover… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,708 satisfied customers
Need help with breach of contract. Individual versus
Need help with breach of contract. Individual versus bisiness … read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
20,642 satisfied customers
I'm being sued for Breach of Contract (auto repo). Is it
I'm being sued for Breach of Contract (auto repo). Is it beneficial to hire a lawyer? … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
27,708 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x