I owe the bank $42,000 and they are trying to take me to court. I received a $50,000 check from a music firm in pakistan. The bank cleared the check in 2 days when I had $80 in my account - odd in itself - then 2 weeks later OFAC (US Treasury) stepped in and said they want to place a hold on the check - I had paid off alot of debt $42000 and the bank screamed for the money instead of working with OFAC - since then they insisted a promisory and a home lien.
Now after 6 months since deposit they are pushing to get a sale of the home - well - they are pushing for a default court judgement on the promisory - I have a 6 year child with serious aspergers syndrome (like autism) and it is not possible therefore for me to work outside the house. Are there organizations that can help? Any legal stance my lawyer should try? Does bankruptcy protect me? Will they send the sheriff to take everything I own?
2006-12-28 13:58:35 · 4 answers · asked by thamilton164 2 in Business & Finance ➔ Credit
You need to see an attorney. Sounds to me like you were the victim of a scam and this is exactly where the problems started. Did you actually think this Music Firm in Pakistan was going to give you 50,000? Why did you spend money before it even cleared? Clearing a regular check nevermind out of country can take weeks. Your bank notifies youu that deposits are subject to clearing funds. Just because they freed the funds up doesn't mean you weren't responsible for the money if the check was held. If you thought it was odd for them to clear it why didn't you investigate then? Why did you sign a promise note without consulting and attorney???
You can't get something for nothing. There have been warnings about these scams for years. Contact an attorney hopefully they can get it straightened out, these people prey on the ignorant.
2006-12-28 14:22:49 · answer #1 · answered by Wicked Good 6 · 0⤊ 1⤋
If you deposited a bad check , and you spent the money, your on the hook for the amount of the check, no matter where it is from. Scams like this happen all the time! Unfortunately, you are the victim of a scam. You need to hire an attorney to represent you. If you cannot afford one, contact the Legal Aid Society and tell them of your plight. Have your attorney contact the Bank's Security department and work things out with them. Good luck.
2006-12-31 05:57:35 · answer #2 · answered by justgr8buys 3 · 0⤊ 1⤋
You do a lot of business w/ Pakistan???? Come on....you knew it was a scam and you just waited until the "check cleared" and spent it......you committed fraud....you're lucky the US Treasury doesn't prosecute you......
Your lawyer should be begging for a repayment plan w/ the bank and offering everything under the sun so you don't lose your house.....Or sell the house, pay the bank (longer you take the more interest/penalties you owe) and don't do that again.
2006-12-29 03:03:50 · answer #3 · answered by Paula M 5 · 0⤊ 1⤋
you attorney says what?
that is what you pay one for.
2006-12-28 14:06:57 · answer #4 · answered by cork 7 · 0⤊ 1⤋