Banking Lawyer Career Guide and Counseling

Question: How Do You Become A Banking Lawyer And What Do They Do?

Answer: The law degree itself does not distinguish the area of practice like MD degrees do. For example if you wanted to specialize in glands, you'd be able to go into endocrinology. Eyes, it'd be ophthalmology. Lawyers are the other hand, are available to defend whomever they like. But a bank lawyer is probably going to need to be a CPA also, who specializes in auditing procedures, investments, & taxation.

Question: What impact will the recession in the UK have on the work employment lawyers and banking lawyers do? ? Unemployment levels are rising in the UK and the banking system is facing major difficulties. Do you know what this will mean for lawyers who specialise in employment or banking law? Will their workload increase? What kind of challenges will they face? Also, if you know how this will affect US lawyers I would also like to hear from you.

Answer: Job losses in a recession are not likely to be the type of job losses that will involve employment lawyers. If you lose your job during a recession there is not a lot of point taking your employer to court if the company has gone under... I don't think that a recession sends an more business to employment lawyers, though it may be a good time to be a bailiff. I wouldn't know what work banking lawyers get up to, I've never come across any. In my opinion, if you have been a lawyer working closely with banks for the last year or so - you should be seeing an employment lawyer soon

Question: The bank's lawyer rsuggested that it would be wise to get "Declaration of Homestead" coverage. Do I need it? I know the lawyer is biased so I'm hesitant. What exactly is it and in what circumstances would it be wise to invest it?

Answer: Call the recorders office in your city and homestead the house yourself.

Question: in ny state are you allowed by law to ask a banks lawyer what they are starting an auction at? I want to know so I can buy the house we are living in myself? Also shouldn't they have let us know by now the date it goes to auction? the date is in the middle of june and wer heard nothing yet? please tell me like yesterday(as in NOW)!!!!!!!!!!!!!!!

Answer: Typically, this is how the auction goes. The auctioneer starts the bid at fair market value. No one will bid. Then the auctioneer will lower the bid about $5,000 - $10,000 for a few goes, then drop it to some point to get interest. Then the bidding will begin. So if the attorney/bank tells you the starting bid, it is of no consequence. The lenders interest is with the owner, not you. Once they own the house, they will take interest in you, and either offer you a cash for keys program or start the eviction process.

Question: How does Lawyers obtain your banking info? I have a judgement on my record for an unpaid Credit card. I have heard somehow these "People" can take the money out of your bank account. My question is how do they find my banking information? Is there anyway to avoid this happening before I can pay them? And before you ask yes I am working on a budget via the Dave Ramsey program.

Answer: a court order and your social security number. Damned simple to get. Peace Jim .

Question: Becoming a lawyer for an investment bank or dealing with stock issues? what law schools offer programs that specialize in stocks or investment law? and what are the best ones? How much do lawyers that practice invesment law get paid? How hard is it to get into a school and how competitive is the job market? What do investment lawyers typically do? and do they work for law firms or invesment banks?

Answer: Work hard to get to a very good law school and work hard while in law school. You don't want to be a lawyer for an investment bank - IPO and M&A work is always done by external legal teams. Schools? Think top 10-15. Law firms? Skadden, Simpson Thatcher, Davis Polk, Sullivan & Cromwell, Jones Day, Weil Gotschal are some of the best. Competitive? You better believe it.

Question: Can you become a lawyer and then work at an investmant bank? if you were a lawyer for discrimination claims, family, and immigration cases for awhile can you turn around and work in an investmant bank as a consultant or stock broker? also you have a JD/MBA?

Answer: You're free to do what ever you wish...though your background doesn't really fit into investment banking. Why not take some courses in securities law than seek to work in an investment bank? They're always willing to let someone try being a broker...but know this...if you're not well connected and can't bring in accounts that TRADE or want to be under management than you'll be out very, very quickly. Additionally, the days of folks working in investment banking house brokerage divisions for life are LONG GONE...today most burn out or fry due to the stresses involved in handling OPM within 3-5 years. So don't think of making a career of it. GOOD LUCK!

Question: i recently won a civil suit against an individual. How can I find out where he does his banking? I recently won a civil lawsuit. The defendant still refuses to pay. I would like to hirer a collection agency or a lawyer to attck his bank account or garnish his wages. How does a person find out where another eprson does his/her banking?

Answer: Here is how it works in Minnesota you should have something similar in your state. You need to file a Request for Order for Disclosure with the Court. HOW DO I COLLECT A CIVIL JUDGMENT? Getting a civil judgment does not automatically result in collection of the money from the offender. Collecting the restitution can cost you $50 or more in court fees and other fees, so you should consider the amount of unpaid restitution and whether the offender has the ability to pay. Although it is not required, the process can be complicated and you may want to hire an attorney to attempt to collect the money. If you want to collect the money yourself without an attorney, you will need to know where the offender works, banks, or has other assets. If you do not have sufficient information, you may file a Request for Order for Disclosure with the Court. This form and instructions may be obtained from Court Administration for a small fee. You must wait 30 days after the judgment has been entered to file this form. The Court will issue an Order for Disclosure and mail it to the debtor (the offender) along with a Financial Disclosure Form. The debtor is allowed 16 days to complete this form and return it to you. It is your responsibility to supply the Court with acurrent address for the debtor. If no response is received from the debtor, you may file an Affidavit in Support of An Order to Show Cause and schedule a court hearing. A judge will issue an Order to Show Cause which directs the debtor to appear in court on the specified date. It will be your responsibility to see to it that the debtor is personally served with the Order to Show Cause. The Dakota County Sheriff’s Office, Civil Division, (651) 438-4780, will serve this for a fee or anyone other than yourself may serve it. It must be served on the debtor personally. It cannot be left at his/her residence with anyone else. The debtor will be required to appear at the hearing and complete the Financial Disclosure form or provide a good reason for not doing so. If the debtor fails to appear, the judge may issue a Writ of Attachment which is a warrant for the debtor’s arrest. If you choose to have this Writ issued, there is a small fee. The Sheriff will also charge a fee for service of the Writ of Attachment. If you know where the debtor banks or works, you may order a Writ of Execution (small fee) from Court Administration. An Execution is a legal document authorizing the Sheriff to collect money from the debtor’s wages (garnishment) or bank account. The Execution must be issued to the county where the bank or employer is located. Court Administration will mail the Execution to you and you need to take it to the Sheriff of that county to be served. The Sheriff will charge a fee. The Dakota County Sheriff’s Office, Civil Division has forms and instructions for use in Dakota County. You may have the costs of collection added to your judgment. File a notarized affidavit with the Court stating all the costs and requesting those costs be added to your judgment. Attach a copy of your receipt from the Sheriff to your affidavit.

Question: Is this a conflict of interest? My real estate lawyer is also my bank's attorney? I got an attorney to work on my closing and now my bank decide to get the same attorney. Is there a conflict of interest here? Can I file a complaint against this lawyer?

Answer: In my view, as you state this, your attorney should have declined to work for your bank. This isn't the banks fault, the attorney should have avoided even the appearance of conflict of interest. I'd get another attorney if it's possible.

Question: does the government or the lawyer will request bank statements, if i decided to file bankcruptsy? do i state how much i have? or are they going to review and want to see in black and white documents from my bank showing if i have money or not?

Answer: They will likely want documents. You might want to consider talking to a lawyer and/or researching your situation a bit further. You didn't mention the state you are in. Best place I have found on the internet for free legal information (or to find an attorney) is http://www.totallawyers.com The site has links to other sites, including a bankruptcy site, has articles about legal issues, and can answer your questions in greater depth. They have info organized by state and have listings of attorneys who might be able to help you. Lots of info there. Hope it will help you. Good luck.

Question: I want to pay off my mortgage, do I need to get a lawyer or should I get in touch with the bank directly? I've decided to pay off my mortgage from money that I've inherited instead of investing in something else as it's more beneficial for me to pay it off and live comfortably off my income. Would I need to get a lawyer for that or should I contact the bank directly?

Answer: I agree with all of the previous answers that say you don't need a lawyer for this. Call the customer service number on your monthly statement, ask for a payoff amount and make sure that there is no prepayment penalty. HOWEVER, you have to make sure that the lender has the discharge of the lien recorded properly. Most lenders will do this and include the recording charge in the payoff amount. But not all lenders do it. They send you a discharge and you are responsible for having it recorded. So when you speak to the customer service people make sure you ask them if they will be recording the discharge. If the discharge doesn't get recorded then a lien will continue to show up against your property in a title search.

Question: A lawyer claims that they can garnish social security from your bank account for past medical bills.? A garnishment has been levied against my bank account. Both my wife and I are disabled and on Social Security Disability. The lawyer for the hospital bills claim they can once it is in the bank.

Answer: The "lawyer" is correct. However, since social security payments are exempt from creditors, you could notify the bank that the funds in the account are from social security direct deposits only and thus exempt. To do that, you need to keep your funds separate. Do not deposit any other money into the social security account. Don't mix your social security income with any other income. Even a one dollar deposit from any other source will remove the exempt status from the account. There is a from that you need to fill out and file with the bank. This form should be available to you at the bank. Hope this helps

Question: what type of lawyer do you have to get to get money out of a bank ? i have a trust account in a bank and was wanting to get a lawyers advice on something. what kind would i get ?

Answer: An estate attorney, as the know the most about trusts, beneficiaries, and wills that set the trusts up to begin with

Question: Use a bank or a lawyer to form a Trust? I want to set up a Revocable Living Trust. My bank and several local Attorneys offer this service. Is one better than the other? Thanks

Answer: Trusts are legal documents. Banks are not lawyers. Do not go to a bank to draw up the kind of trust you're interested in. They will not know all the legal ins and outs of it, nor will they be abel to give you appropriate explanations about the finer points. Go to an attorney who specializes in estate planning, i.e. wills and trusts You will also want what is called in some places a pour-over will. This is so you can make distribution of everything else in your estate that is not included in the trust: things like personal possessions, cars, jewelry - generally stated "stuff". The trust and the will should be done at the same time. Also, do not go to financial planners for trusts and wills. They are not lawyers are should not be giving legal advice or instructions.

Question: What are the works for a law officer in banking sector? I am lawyer and trying to find a job in banking sector. Let me know what are sections that I need to study well.

Answer: Loan recovery.

Question: Do I use a lawyer or a personal financial counselor to file for bankruptcy? am in 63,000.00 debt for six credit cards. I need to get help getting bankruptcy. Do I go to a bank counselor or to a lawyer or can I do it myself? Thank

Answer: You can do it yourself, but I wouldn't recommend it. If one thing is done wrong, your bankruptcy filing can be dismissed. Hire a bankruptcy attorney. Most of them will take payments over time. DON'T hire anyone claiming to be a "para legal" or "legal expert" to the bankruptcy - they are not attorneys, don't know what they are doing, and are practicing law without a license.