Is it legal for a bank to require termination of spousal support payments as a requirement for a loan?
Question Details:
Well, I assume that the bank is looking for a reduction in your accounts payable...not necessarily that individual payment. As you might imagine, the bank, as a lender, wants to make sure that you can make the payments on the account...and may have looked at your already committed payments each month and has made an initial determination that your cash flow does not support a new loan payment. Obviosly, to provide a better answer, any attorney would need more information. By Grace... Shawn Jackson ESQ. (707) 584-4529 Business Development Attorney EMAIL: Attorneys@CaliforniaBusinessDevelopment.com www.CaliforniaBusinessDevelopmentAttorneys.com www.CaliforniaBusinessDevelopmentCenter.com www.CaliforniaBusinessDevelopmentPlans.com www.CaliforniaBusinessDevelopmentIncubator.com No communication resulting herein shall create an attorney-client relationship unless a separate retainer agreement is signed by attorney and client. The information provided neither is legal advice nor is it conveyed in the course of an attorney-client relationship, but is intended merely as a general overview with regard to the subject matter covered. You should not act upon this information without seeking professional counsel such as any attorney in this office in a subsequent email communication (agreement) and the formation of an attorney client relationship.