Can You Use Bankruptcy to Avoid an Eviction in Florida?

The COVID-19 pandemic has been difficult on all Floridians. Hundreds of thousands of people lost their jobs and businesses closed at an alarming rate. People also lost their homes, as they could not pay their rent and were in fear of eviction. At the time, Governor DeSantis placed a moratorium on evictions and foreclosures, so people would not fear losing their home when there were shelter in place orders in effect. Unfortunately, those moratoriums are long over and they are not expected to go into effect again.

With so many people still struggling, there are still many Florida residents in fear of losing their homes. To prevent this from happening, it is natural to wonder if bankruptcy could help you avoid eviction or stop foreclosure. Like with so many other legal questions, the answer is that it depends. If you want to avoid eviction and think bankruptcy may be an option, you should speak to a Florida bankruptcy lawyer as soon as possible.

Bankruptcy Will Provide an Automatic Stay

As soon as you file for either a Chapter 7 or Chapter 13 bankruptcy, the court will issue an automatic stay in your case. An automatic stay prevents creditors and debt collectors from contacting you trying to collect on the debt you owe. As its name suggests, the automatic stay happens right away, which means as soon as you file, all contact will stop. Unfortunately, while the automatic stay will prevent creditors from contacting you, it does not always work the same for landlords that are trying to collect on the rent, or even evict you.

Automatic stays do not last forever and in the case of landlords, the time period may be very short. Landlords do have the right to ask the bankruptcy judge to lift the automatic stay on rent immediately, and many courts will grant these requests. If this happens, the landlord can start the eviction process all over again, and you may be evicted from your home.

Even when an automatic stay is lifted, it takes time for it to happen. You can use this time to find another place to live if you feel as though the eviction will go through. If you think you will be able to make any payments for past due rent, you can also use that time to collect it and give yourself the best chance of staying in your home.

If you filed a Chapter 7 bankruptcy, there is a chance your landlord may even simply wait until the bankruptcy case is over to evict you, which could take three to four months. Once the case is final though, your landlord will likely have the right to evict you from the premises if there is still unpaid rent.

It is important to note that an automatic stay will not stop an eviction if your landlord has already obtained a final judgment for eviction against you before you filed bankruptcy. Automatic stays only apply to the debt you had on the date you filed bankruptcy.

Bankruptcy Can Eliminate Unpaid Debt

Filing Chapter 7 bankruptcy can delay an eviction, but it will not necessarily stop one. However, after you are evicted, a Chapter 7 bankruptcy can eliminate any unpaid rent debt you still owe. Clearly, you also will not have to pay rent for the current premises going forward, as you will no longer have a lease agreement. It is for these reasons that many people consider bankruptcy when trying to avoid eviction. If you were paying too much rent, bankruptcy can help you walk away from it and get a fresh start.

Eliminating rental arrears can also make it easier for you to find a new place to live. You may need the first and last month’s rent, as well as a security deposit and the other fees associated with moving. Bankruptcy will also allow you to discharge other types of debt you may be carrying, such as credit card debt, personal loans, and unsecured medical debt. Getting rid of these debts can also free up some money that can help with finding a new place to live.

While there are many benefits that come with filing bankruptcy to avoid eviction, there are certain consequences you should know about, too. For example, any type of bankruptcy will appear on your credit report, and future landlords will likely look at this to determine if they want to rent to you. To avoid this, some people try to find a new place to live before they file for bankruptcy.

Chapter 13 Bankruptcy Can Help You Avoid Eviction

Although a Chapter 7 bankruptcy may not help you avoid eviction, a Chapter 13 bankruptcy can. When filing Chapter 13, you are not asking the court to discharge your debt, but you are asking them to reorganize it into a repayment plan. Your rent, including what you owe and what you will owe in the future, can be part of this repayment plan, allowing you to stay in the premises.

The repayment plan is also drafted using your income and your current expenses, so the payments are affordable for you. It is crucial that you make any and all payments according to the repayment plan. If you do not, your landlord can complain to the bankruptcy trustee and your case may be dismissed. In that case, your landlord could continue to pursue an eviction and you likely would not be able to file bankruptcy again to stop it.

Call Our Bankruptcy Lawyer in Florida Today

Bankruptcy may be able to stop an eviction, but the process is a long and difficult one. There are also many benefits and some drawbacks to filing, so it is important to speak to a South Florida bankruptcy lawyer that can advise on the specifics of your case. At Loan Lawyers, we have helped thousands of borrowers successfully pursue bankruptcy, and we want to put that experience to work for you. Call us today at (954) 523-4357 or contact us online to schedule a free consultation.

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What to Do if Midland Credit Management Contacts You About an Unpaid Debt

One of the worst things for people to deal with when they have unpaid debt is the constant phone calls from debt collection companies. These phone calls will quickly become much more than just a nuisance. They can turn into harassment and make life unbearable, particularly when a debt collection company starts threatening you. Midland Credit Management is one of the biggest debt collectors in the company, and they have been known to harass Floridians about unpaid debt. If you have been contacted by this company, it is crucial that you know your rights, and how to handle the phone calls.

Who is Midland Credit Management?

Midland Credit Management, also known as MCM, is a partner and debt collection company is a conglomeration of financial organizations. The company is based out of San Diego, and they have had many complaints filed against them. These complaints include allegations of inappropriate communication, attempts to collect on unverified debts, misrepresentation, and threats, as well as other violations of the Fair Debt Collections Practices Act (FDCPA).

Unfortunately, Midland Credit Management is not a scam. It is a legitimate company that has over one thousand account managers around the globe. The company has been in operation since 1953 and it is a subsidiary of Encore Capital Group.

What Type of Debt Does Midland Credit Management Collect On?

Midland Credit Management purchases old debt from many different types of institutions. These include credit card companies, retail outlets, dentists, healthcare professionals, loan and financial companies, and more. MCM’s website is targeted directly towards consumers and states that its goal is to empower borrowers to get out of debt by providing repayment plans and education.

Unfortunately, the company’s priorities are not on the consumer. Their priority is to collect on the debt, which can return them thousands in profits for just one account. They are often able to collect on this debt, which is why the company is worth over $553 Million today.

Complaints Against MCM

When creditors and debt collectors do not comply with the law and violate a borrower’s rights, the debtor has the right to file a complaint against them. You can determine whether or not a debt collection company such as MCM is violating your rights when they call you by first finding out if they have any complaints against them. In the case of Midland Credit Management, the Better Business Bureau has listed 264 complaints against the company in the past three years, and 105 of those have been filed in the past year alone.

Filing a Lawsuit Against Midland Credit Management After They Contact You

If Midland Credit Management does contact you, they must follow very specific rules. They are not allowed to threaten you or harass you, and they cannot threaten you. They can file a lawsuit against you to collect on the debt and if they are successful, they may be able to take legal action, such as garnishing your wages. However, they cannot threaten you with a lawsuit if they have no intention of following through on that threat.

Any time MCM, or any debt collector for that matter, threatens to file a lawsuit against you, it is crucial that you speak with a Florida debt defense lawyer as soon as possible. The company is likely hoping that you will ignore the lawsuit, in which case they can obtain a default judgment against you. A default judgment will allow them to automatically take legal action, even if you had a valid defense for your case, such as if the debt does not belong to you.

Midland Credit Management has been known to violate the law when contacting borrowers. Many of the complaints filed against them allege harassment, threats, repeated phone calls, and more. When MCM engages in these unlawful practices, you can file a lawsuit against them. Under the FDCPA, you can file a lawsuit to claim up to $1,000 in statutory damages, as well as your attorney’s fees and other losses you sustained as a result of filing the lawsuit.

Violations of the FDCPA

When MCM violates your rights while contacting you, it is important to enforce your rights. Unfortunately, many people do not recognize when debt collection companies have infringed on their rights. If MCM has contacted you and engaged in any of the following practices, you may have a valid case:

• They are calling you multiple times per day or week
• They are calling very early in the morning or very late at night
• They are calling you at work
• They are calling your neighbors, family, friends, or coworkers and discussing your debt with them
• A debt collector has threatened you with arrest, violence, or a lawsuit
• They are trying to collect more than you owe
• They are threatening to report a negative account on your credit
• They have tried to intimidate you
• They are accusing you of criminal activity
• They use obscene language while trying to collect on the debt
• They are using automated robocalls

It is always wise to speak to a debt defense lawyer in Florida any time a debt collection company contacts you. However, this becomes particularly important when MCM or any other collector has taken any of the above actions. A lawyer will ensure the company stops contacting you and will help you take whatever legal action is necessary.

Call Our Debt Defense Lawyer in Florida Today

If you have been contacted by Midland Credit Management, it is critical that you speak to a Florida debt defense lawyer today. You have rights, and there is a good chance the company is infringing upon them. At Loan Lawyers, we will deal with the company on your behalf so you no longer receive calls, and prepare a defense for your case that can help clear your name from the debt. Call us today at (954) 523-4357 or fill out our online form to schedule a free case review and to learn more about your legal options.

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How to Select a Bankruptcy Attorney

If you’re overwhelmed by debt, filing for bankruptcy could allow you to discharge some of these financial obligations and regain your financial footing. However, filing for bankruptcy isn’t easy. Choosing the wrong bankruptcy plan or making a mistake during the process could put you in even deeper trouble.

To make the bankruptcy process as easy as possible and avoid costly mistakes, make sure you get help from a knowledgeable Fort Lauderdale bankruptcy attorney. 

Where Do I Start in Choosing a Fort Lauderdale Bankruptcy Lawyer?

There are many different bankruptcy attorneys, so how do you find the right one for your situation? A good place to start any search for an attorney is to check out their disciplinary history with the Florida Bar, the legal organization that oversees and licenses attorneys in Florida. Run the name of any bankruptcy attorney you find through the Florida Bar database. If they’ve been disciplined, you likely want to find another lawyer.

You can also use an internet search to find an attorney. Many attorneys list their awards, professional credentials, and other information on their websites. You can also read client reviews about the experiences others had with the bankruptcy lawyer you are planning to hire. You can use this information to find a bankruptcy lawyer who looks promising.

Finally, more old-fashioned methods for finding a lawyer still work perfectly well. Ask your friends, family, neighbors, and coworkers if they have a bankruptcy attorney they’d recommend. Even if they don’t know a bankruptcy attorney themselves, they might know another friend or colleague with a worthwhile recommendation.

You Are Better Off If You Hire an Attorney That Specializes in Bankruptcy

The main thing to remember when choosing your bankruptcy lawyer is finding a lawyer specializing in bankruptcy cases. Bankruptcy laws are complicated, and it’s important to have a thorough understanding of the process and the potential consequences before you file your bankruptcy. If you hire a lawyer who doesn’t have experience with bankruptcy cases, you could end up in deeper financial trouble or have to pay back more of your debts than you need to. Way too often, people wind up with bankruptcy lawyers who don’t have the knowledge or ability to review their entire debt situation to see if their rights have been violated by one of the many state and federal regulations that exist to protect consumers’ rights. We had a client come to us for a second opinion from another bankruptcy law firm that didn’t even realize he had a potential lawsuit for fraud against one of his debt collectors.  We were able to settle the case for $250,000 and get the client completely out of debt without even having to file bankruptcy!   

What Should You Ask a Fort Lauderdale Bankruptcy Lawyer?

Here are a few key questions to ask a lawyer before you hire them to help you with a bankruptcy case:

• What experience do you have with bankruptcy cases? If they haven’t handled many bankruptcy cases, you likely want to go with an attorney with more experience.
• What fees do you charge? Whoever you hire as your lawyer should be able to explain exactly how their fee structure works so you know what you’re in for and there aren’t any surprises later on.
• How do you communicate with clients? You want to hire a lawyer who will proactively keep you in the loop as your case progresses. Does the attorney you’re looking at rely on phone calls, or do they use email, text messages, and other methods to talk to clients? Find a lawyer who fits your communication style. You also want to find a lawyer who will get back to you quickly if you have any questions about your case.
• How do you work? Are you going to be working directly with the attorney throughout your case, or is a paralegal going to be handling most of the work? You want to hire a lawyer who is personally invested in your case and won’t just pass you off to someone else.

Contact Loan Lawyers’ Bankruptcy Lawyers Today!

The Fort Lauderdale bankruptcy attorneys at Loan Lawyers are here to help. Our certified bankruptcy specialists and legal team have eliminated over $100 million in debt and mortgage principal for our clients. We have also helped over 7,000 clients in Florida get out of debt and get a fresh start. Contact us today for a free initial consultation.

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Is There a Statute of Limitations on Debt in Florida?

When a person is drowning in debt, they’ll do just about anything to get the creditors to stop calling. They may even begin to imagine the worst-case scenario – that the creditors will sue them. The good news is that those facing debt may just have to wait. While simply giving the debt enough time won’t erase it completely, it will bar the creditors from pursuing a lawsuit. There is a statute of limitations on debt in Florida, but there are a few things borrowers will need to know before they begin counting on it.

Florida’s Statute of Limitations on Debt

In Florida, the statute of limitations on debt is typically five years. This means that once the five-year timeline has expired, creditors can no longer file a lawsuit against the borrower to try and recover the debt. This is only true of debts that include a written agreement, though. If an oral agreement was made about the debt, the statute of limitations is reduced to four years.

This is the case for most debts in Florida. However, there are certain types of debts that have different statutes of limitations than these. These and the relevant statutes of limitations are:

• Debts incurred as a result of injuries or property damage: 4 years
• Tax liens due to unpaid property taxes: 20 years
• Court costs and fines: No statute of limitations
• Debts incurred from unpaid alimony: No statute of limitations
• Fraud: 4 years (from the time the facts giving rise to the cause of action were discovered or should have been discovered with the exercise of due diligence)

Unfortunately, in some cases, a statute of limitations on debt is tolled. It’s just as important that borrowers understand this, so they know what could keep the statute of limitations on their debt from expiring when it otherwise would have.

When Statutes of Limitations Are Tolled

There are some instances in which a statute of limitations on a debt is tolled. One of these is when the debtor takes measures to avoid the creditor completely. This does not necessarily refer to ignoring phone calls, though. It refers to any steps taken to keep the creditor from contacting the borrower at all. For example, if a borrower knows that the statute of limitations expires in six months and they move to another state to avoid the creditor, this could toll the statute of limitations to six months after the borrower moves back to Florida.

In addition, if a borrower acknowledges the debt, this could also toll the statute of limitations. For example, if a creditor phoned a borrower and the borrower answered and admitted that they knew about the debt, this could extend the statute of limitations. Likewise, any time a borrower makes a partial payment on their debt could also toll the statute of limitations. Tolling a statute of limitations only applies, though, when the debt agreement is in writing.

This doesn’t mean that borrowers should try and avoid paying their debts so that they can wait out the statute of limitations; it only means that they should be aware of instances that toll the statute and which could affect their foreclosure defense.

Verifying the Statute of Limitations

While trying to file a lawsuit against a borrower after the statute of limitations has expired is not a prohibited practice, it is likely to get thrown out of court. The courts, however, don’t keep information tracking different debts and their statutes of limitations. Verifying that the statute of limitations has run out on a debt then falls to the borrower.

To do this, the borrower must gather as much information as possible about their debt. This could include bank statements, receipts, and any documents created when they first obtained the loan. These will show when the loan was granted and the last time the debtor made a payment or acknowledged the debt.

When a borrower can show that the statute of limitations has expired on their debt, it’s possible to use this as a debt defense in court. The court will simply throw the case out, and the borrower will not have to go through litigation for the creditor to recover the debt.

Paying Debts after the Statute of Limitations Expires

Once the statute of limitations expires, it only bars a creditor from filing a lawsuit against a borrower. It does not erase the debt, and that’s very important for borrowers to understand. An expired statute of limitations may not stop the creditors from calling, although they must still do so in accordance with the law. For example, creditors still cannot contact an employer or call borrowers in the middle of the night.

More importantly, an old debt will remain on a credit report, which can keep people from obtaining new loans and possibly even gaining certain types of employment. However, there are laws about how long a debt can appear on these credit reports as well. According to the Fair Credit Reporting Act (FCRA), this time limit is seven years for the majority of debts.

Debt in Florida: At a Glance

There are several types of debt in Florida. Here’s the latest data from the Federal Reserve Bank of New York.

• Credit card debt – Florida has the 10th highest credit card debt in the nation, with a per household debt of $3,340.
• Auto debt – Florida has the 7th highest auto debt in the country, with a per household debt of $5,580.
• Student loan debt – Florida ranks 37th in the nation for student loan debt, with a per household debt of $5,140.
• Mortgage debt – Florida’s mortgage debt is the 25th highest in the country, with a per household debt of $31,980.

As of 2021, Florida has the 12th-highest debt in the United States, right after Washington, with a state debt of $28.8 billion. Florida’s debt is predicted to grow in the coming years. Its per capita debt is $1,313.48, which is the fifth-lowest per capita debt in the nation.

A Florida Debt Defense Lawyer Can Help Those Suffering from Debt

Arguing that the statute of limitations has run out on a certain debt can provide a valid debt defense in cases where a creditor has filed a lawsuit against a borrower to recover the debt. However, this isn’t the only defense available. A Fort Lauderdale debt defense lawyer can provide the necessary help to anyone who has received documents from a creditor stating they are being taken to court.

If you’re suffering from severe debt and a creditor has threatened to or already taken steps to file a lawsuit, contact the Loan Lawyers at (954) 523-HELP (4357). We know the many different defenses available for these types of lawsuits, and we know how to help you with yours. We’ll review your case, advise on how Florida law applies to it, and create a solid defense to give you the best chance of success in court. We also offer free consultations, so call us today to begin discussing your case.

At Loan Lawyers, we understand what you are going through and want to help you save your home and get out of debt.   We have eliminated over $100 million in debt and mortgage principal, recovered more than $50 million for our clients due to bank and debt collector violations, saved over 3,000 homes from foreclosure, and have helped more than 7,000 people eliminate debt and restore peace of mind.

Contact us for a free consultation and find out more about our money-back guarantee on credit card debt buyer lawsuits and how we may be able to help you.

This post was originally published in March 2019 and has been updated for accuracy and comprehensiveness in December 2021.

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Are Debt Consolidation Loans Bad for Your Credit?

When a person is drowning under a significant amount of debt, they have many options. One of these is to take out a debt consolidation loan. With a debt consolidation loan, the entirety of a person’s debt, or a portion of it, can be consolidated into one loan. The borrower then makes monthly payments, which are generally lower than the payments made on the original debt. There are many types of debt consolidation approaches but the two most common are using a loan or a balance transfer card.

Debt consolidation is very helpful for many people. However, there are things to watch out for. Consolidating your debt can cause your credit score to drop, but it is likely only temporarily. Overall, debt consolidation can actually help your credit score, but only if you do it right.

How Does Debt Consolidation Affect Your Credit?

Just as when you are applying for any loan, a debt consolidator or other lender will run a hard inquiry to the major credit reporting bureaus, such as Equifax and TransUnion. Any time a hard inquiry is made into your credit report, it will drop your credit score by at least a few points. Your score will likely remain lower for a few months. However, if you make payments regularly and on time, and change some habits that resulted in debt stacking up, the impact of a debt consolidation loan on your credit score will be positive.

Your Credit and Debt Consolidation Loans

It is not uncommon for people to consolidate their debt by taking out a personal loan from their bank or another lender. Like all other debt consolidation methods, this has many pros and cons when it comes to your credit score. The advantages of doing this are as follows:

• Approval with low credit score: If you are suffering from significant debt, there is a good chance your credit score has already taken a hit. Generally speaking, it is easier to obtain a personal loan with a lower credit score than it is when applying for a balance transfer card.
• Credit mix: Having a combination of different types of credit can help your credit score because it shows you know how to handle different types of debt. If you need the loan mainly for credit card debt, applying for an installment loan, such as a personal loan, can improve your score by providing you with a mix of credit.
• Simplify your finances: By combining all of your debt into one, it can simplify your finances, which will make them easier to manage.
• Lower the amount of credit you are using: One of the main factors used to determine your credit score is the amount of credit you are using. If you have mainly credit card debt and use the loan to pay it off, you will have more credit available, which will improve your credit score.

Although debt consolidation loans have many benefits, they do have some drawbacks. These include:

• More debt: Once you pay off the original debt and free up some credit, you may rack up more debt if you tap into that credit. This will not only lead to more debt, but will also lower your credit score.
• Missed payments: If you do not pay the loan regularly, it will hurt your credit just as the original debt did.
• High fees: It is essential that you understand the annual percentage rate (APR) you will pay on the new loan. If it is too high, it can make it more difficult to pay and hurt your credit score.
• Prepayment penalties: Sometimes, loans have a penalty for prepaying because lenders prefer the regular profit over an extended period of time. If your loan comes with such penalties, you will be locked into a fixed payment period.

Your Credit and Balance Transfer Cards

Instead of taking out a personal loan, many people choose to apply for a new credit card that has a credit limit that will fully cover their debt. Like a personal loan, this option has many benefits and drawbacks, too. The pros of balance transfer cards are as follows:

• Lower interest rates: Credit cards often have lower interest rates than those associated with personal loans. If you are an excellent credit consumer, you may even be able to obtain a card that has a zero percent APR. A lower interest rate will make it easier to pay off the debt, increasing your credit score as you do.
• Flexible payments: The payments you make to a credit card are typically more flexible than those that come with a loan. You can generally make payments when you want, and pay as much as you want. As long as you make the minimum monthly payment, it will not hurt your credit.
• No prepayment penalties: The prepayment penalties that come with personal loans do not apply to credit cards, so you can pay more when you are able, increasing your credit score.

Of course, using a balance transfer card also has some disadvantages. If you use close to the limit of the new card, your credit utilization will go up, which may cause your credit score to drop temporarily. As you continue to pay off the new card, your credit score will eventually increase again. It is also crucial that you understand the APR because if you do not, you may have to pay interest on any debt you do not repay before the introductory rate runs out.

Our Debt Defense Lawyer in Florida Can Help with Your Debt

Debt consolidation is very beneficial when trying to avoid lawsuits and get ahead financially. Unfortunately, they do not always work and you may still find yourself facing legal action from a creditor or debt collector. When that is the case, a Florida debt defense lawyer can help. At Loan Lawyers, we have defended against thousands of debt collection lawsuits, and we can build a strong case for you, too. Call us today at (954) 523-4357 or fill out our online form to schedule a free consultation and to learn more about how we can help.

People Also Ask

• What are the negative effects of debt consolidation?
• How long does a debt consolidation stay on your credit?
• Is consolidation good or bad?
• Does consolidation affect credit score?

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Oliphant Financial LLC, Lawsuit Defense in Florida

Oliphant Financial is one of many debt buyers in the country that purchases debts, usually credit card debt, for much less than what the debt is worth. After the company has purchased the debt, they can then try to recover the full debt from the borrower and keep it as profit. In their attempt to collect on this debt, Oliphant Financial and companies like them may even file a lawsuit against a debtor to obtain a judgment to garnish their wages or place a lien on their property.

If you have received notice of a lawsuit that has been filed against you, it is critical that you do not ignore it. Failing to take action is essentially allowing Oliphant Financial to win their case automatically. A Florida debt defense lawyer can advise on the steps to take to protect your future and obtain a positive outcome in your case.

Who is Oliphant Financial, LLC?

Oliphant Financial, LLC is a legitimate debt collector. According to the Better Business Bureau, the company was founded in 1992 and they have been filing lawsuits against thousands of borrowers since that time. Oliphant Financial, LLC is based right here in Florida, but they take legal action against consumers across the country.

Just because Oliphant Financial, LLC is a legitimate company does not mean they always operate fairly. They often use harassing and threatening tactics to collect on debts, and they do not even always have the right to do so.

Oliphant Financial, LLC May Not Have Standing

In order for anyone to file a lawsuit, they must have standing. This means they must have lost something, or stand to lose something, and they are filing a lawsuit in order to recover it. In the case of Oliphant Financial, LLC, they must prove that they have the right to file a lawsuit to recover the debt they purchased from the original creditor. While this may sound like an easy thing for the debt collector to do, it is not.

The debt in question often changes hands several times. Oliphant Financial, LLC, may not have even purchased the debt from the original creditor, but another debt collector. Due to the fact that the account is purchased and sold so often, the paperwork often becomes lost, and those documents are crucial to Oliphant Financial’s case. If they cannot present proof that they own the debt, and therefore have standing to pursue a lawsuit, they cannot win their case or recover on the debt.

The Fair Debt Collection Practices Act

There are many laws that protect consumers from debt collectors. One of the main laws that is often referenced in debt collection lawsuits is the Fair Debt Collection Practices Act (FDCPA). The FDCPA is federal legislation that protects all borrowers in the country. Under the Act, there are many things debt collectors cannot do when they are trying to collect on a debt. These include:

• Call at certain times, namely before 8:00 a.m. or after 9:00 p.m.
• Call you at your place of employment after you have asked them not to
• Communicating only with your lawyer if you are working with one
• Communicate with third parties, such as your family, neighbors, or employer about your debt
• Stop contacting you in any manner, if you ask them to do so
• Use threatening, violent, or profane language in any way
• Harass or annoy you by calling repeatedly
• Call to collect on the debt without informing you they are a debt collector
• Advertise to the public that your debt is for sale
• Misrepresent the amount of debt you owe
• Threaten to take legal action if they have no intention of doing so

If Oliphant Financial, LLC violates your rights under the FDCPA, you have the right to pursue a lawsuit against them. If you are successful with your case, you can recover $1,000 in statutory fines and hold the company accountable for paying your attorney’s fees.

The Telephone Consumer Protection Act

The Telephone Consumer Protection Act (TCPA) is another federal law that protects consumers throughout the country. Under this law, debt collection companies are prohibited from contacting you using robocalls. Robocalls are calls made automatically by computers that can generate these calls all day long. It is fairly easy to identify when a company utilizes robocalls. When you answer the phone, you will either hear a pre-recorded message or have to wait for a long delay before a live person comes to the phone.

If Oliphant Financial, LLC has violated your rights under the TCPA, you can recover between $500 and $1,500 for every phone call you received.

What to Do if Oliphant Financial, LLC has Filed a Lawsuit Against You

Oliphant Financial, LLC sues thousands of debtors every year in the hopes that borrowers will simply ignore the lawsuit. Unfortunately, they count on this strategy because it works with so many debtors. When a person ignores the notification of the lawsuit, Oliphant Financial, LLC can obtain a default judgment against them. Essentially, this means they will ask the court to automatically rule in their favor, and the court will likely do so. If they obtain a default judgment against you, they may be able to garnish your wages, place a lien on your property, or even levy your bank account.

To prevent this action from being taken against you, it is essential that you speak with a Florida debt defense lawyer as soon as you are notified of the lawsuit. A lawyer can advise you of the possible defenses in your case and give you the best chance of a successful outcome.

Our Debt Defense Lawyers in Florida Can Defend You Against Oliphant Financial

If you have received notification that Oliphant Financial, LLC is suing you, it is essential that you speak to a Florida debt defense lawyer right away. At Loan Lawyers, we have helped thousands of clients successfully defend their lawsuits, and we want to put that experience to you. Call us today at (954) 523-4357 or contact us online to schedule a free consultation.

Frequently Asked Questions

• Does Oliphant Financial sue?
• Why is a debt collector suing me?
• What to do if you get sued by a creditor?
• How do you defend yourself against a debt collector in court?

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Foreclosure Surplus: What is it and am I entitled to receive?

In a foreclosure lawsuit, after a foreclosure sale of the property is held and after the proceeds from the sale of the property have been distributed as required by the Final Judgment of Foreclosure, there are leftover or extra funds. These funds are called surplus funds. The Clerk of Court will file a Certificate of Disbursements that can be located on the Court’s docket website that would show the amount of funds that would be categorized as surplus funds.

Pursuant to Florida Statute § 45.032(2), “There is established a rebuttable legal presumption that the owner of record on the date of the filing of a lis pendens is the person entitled to surplus funds after payment of subordinate lienholders who have timely filed a claim.” This means that if you owned the property that was the property involved in the foreclosure lawsuit where it was determined that the surplus funds exist and you owned that property on the day that the lis pendens (formal notice of pending legal action) for the foreclosure lawsuit was filed, then you are considered to be the owner of record and are eligible to make a claim for the surplus funds. Owners of record may also grant or assign their legal right to make a claim for the surplus funds.

In the case of surplus funds, sometimes subordinate lienholders will also make claims for the surplus funds. Subordinate lienholders include but not limited to “a subordinate mortgage, judgment, tax warrant, assessment lien, or construction lien” as defined in the defined in the Florida Statutes. These lienholders are often named Defendants in the case, and you may be familiar with them as your homeowner or condominium association or second mortgage holders. These subordinate lienholders may make claims on the surplus if the full amounts of their liens were not paid from the proceeds of the foreclosure sale and as such, they seek to be paid out from the surplus funds.

It is also common that Plaintiff’s in the foreclosure lawsuit will have incurred additional costs or fees after the foreclosure sale. Provided that the Final Judgment of Foreclosure allows for Plaintiff to seek these amounts and provided that the Plaintiff provides evidence in support of the additional costs or fees sought from the surplus funds to the Court, Plaintiff may also make a claim for the surplus. If you are in a situation wherein a foreclosure sale has been held and you would like to know if you are entitled to make a claim for the surplus funds, please contact us.

Loan Lawyers has helped over 7,000 South Florida homeowners and consumers with their debt problems, we have saved over 3,000 homes from foreclosure, eliminated more than $100 million dollars in mortgage principal and consumer debt, and have recovered over $25 million dollars on behalf of our clients due to bank, loan servicer, and debt collector violations.  Contact us for a free consultation to see how we may be able to help you.

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How to Deal with Harassment from Debt Collectors in Florida

If you have fallen into debt due to a mortgage, credit card, student loan, or car loan, a debt collector will likely start calling you. While all borrowers dread these calls, many do not realize that debt collectors violate their rights. Debt collectors are allowed to contact you to try and recover the debt in many situations. However, they are not allowed to harass you or otherwise violate your rights. If a debt collector in Florida has contacted you, it is essential that you speak with a debt defense lawyer that can help you throughout your case.

Understand Debt Collection Harassment

Both state and federal law protects borrowers from harassing, abusive, or deceptive tactics from debt collectors. Specifically, these laws are the Fair Debt Collection Practice Act (FDCPA), which protects consumers throughout the country. The state law that protects Floridians is the Florida Consumer Collection Practices Act (FCCPA). Both of these laws are in place to protect debtors and to ensure that they are treated fairly. The laws became necessary when debt collectors started to use abusive and fraudulent methods to try and recover debt from consumers.

Debt collectors will use many different tactics to try and collect on debt, and many of them are illegal. Strategies included in the FDCPA and the FCCPA that are a violation of the law include:

• Threatening a wage garnishment if they have no intention of following through on it
• Threatening you with liens against your property, or to impound certain property, such as a vehicle, without the intention of following through
• Threatening an arrest
• Threatening to take any legal action against you without intending to follow through on the threat
• Contacting relatives, friends, or neighbors about your debt
• Calling multiple times a day
• Contacting you at your place of employment
• Trying to collect a debt you do not owe
• Trying to collect on a debt they can no longer recover because the statute of limitations has expired
• Calling before 8:00 a.m. or after 9:00 p.m.
• Trying to collect on a debt that was discharged in a bankruptcy case
• Contacting you after asking them to stop
• Being dishonest about the amount of the debt
• Contacting you when you have legal representation
• Using deception, such as lying to you, to try and recover debt
• Using abusive or improper language

The above tactics are a violation of your rights. If a debt collector has engaged in them, it is critical that you speak to a debt defense lawyer as soon as possible.

File a Complaint Against the Debt Collection Company

If you believe a debt collector has violated your rights, you can file a consumer complaint with the appropriate government agency. The Consumer Financial Protection Bureau investigates and enforces violations of the federal FDCPA. The Florida Office of Financial Regulations investigates FCCPA violations. It is important to file a consumer complaint against any unethical debt collector. In addition to your complaint, you may also be able to file a lawsuit against a debt collection company.

Whether you are filing a consumer complaint or a lawsuit to recover damages, the steps you take immediately after the harassment are crucial. First and foremost, it is critical that you document the deceptive, abusive, misleading, or harassing behavior you experienced from the debt collector. This documentation can include emails, letters, and even texts from the debt collector.

If you send any documents to the debt collector, particularly if it involves you denying the debt, asking the company to verify the debt, or requesting that the debt collection company stops contacting you, it is crucial to take copies of these so you have these documents for your own reference.

It is just as important to remember that you cannot legally record phone calls unless you have the other party’s permission to do so. Instead, just take notes about any contact you have had with the debt collection company. Write down where you received the call, when you received the call, and a summary of what was said during the call. These notes will help you when you start working with a debt defense lawyer who can then determine if your rights have been violated.

File a Lawsuit to Collect Damages

When a debt collector violates your rights, you then have the right to file a lawsuit against them to collect damages. Under the FDCPA, you may be able to obtain actual or statutory damages of up to $1,000. Under this law, you can also recover your attorney’s fees and any expense you incurred as a result of pursuing the lawsuit. To obtain these damages, you will have to show that you incurred harm as a result of the debt collection’s wrongful conduct.

Under the FCCPA, you can also obtain up to $1,000 in statutory damages, as well as your attorney’s fees and any cost you incurred as a result of the lawsuit. Actual damages are the losses you have suffered as a result of the debt collection harassment.

It is not always easy to determine the amount of damages you are entitled to because often, the losses sustained in debt collection cases are annoyance, aggravation, frustration, and other emotional issues. While you can claim emotional distress, these damages are not easy to quantify. A Florida debt defense lawyer can evaluate these damages and give you the best chance of success while trying to obtain them.

Our Debt Defense Lawyers in Florida Will Protect Your Rights

If a debt collection company has been contacting you over unpaid debts, they may have broken the law and you may not even be aware of it. At Loan Lawyers, our Florida debt defense lawyers can identify if your rights have been violated and if so, help you take the legal action that will protect you and allow you to obtain the full damages you deserve. Call us now at (954) 523-4357 or fill out our online form to request a free consultation and to learn more about how we can prepare the defense your case needs.

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9 Steps to Take if LVNV Funding, LLC is Suing You

Receiving notice that you are being sued is always alarming. It is natural to not know what to do, or what steps to take. A debt defense lawyer in Fort Lauderdale can help you through the proper steps and give you the best chance of success with your case. In the meantime, you can prepare yourself by gaining a general understanding of what to do next, and the appropriate steps to take, which are outlined below.

Know Who You are Dealing With

LVNV Funding, LLC is a third party debt collection company. They are based in Nevada, but they file lawsuits against people all over the country, including many right here in Fort Lauderdale. As of 2021, the company had 901 complaints against them in the last three years alone. LVNV Funding, LLC, often outsources the accounts of many borrowers to a company known as Resurgent Capital Services. Resurgent Capital Services has been given an A+ rating by the Better Business Bureau, despite the fact that the company has 4,978 complaints in the last three years, as of 2021.

Like other third party debt collection companies, LVNV Funding, LLC purchases debt from creditors such as hospitals, credit card companies, retail outlets, and more. As such, if you have been sued by them, or by Resurgent Capital Services, it is likely over debt you borrowed from someone else.

Get Ready to Take Action

LVNV Funding, LLC is hoping that you will receive notice of the lawsuit and simply ignore it. The company is known for preying on borrowers that are overwhelmed, struggling financially, and that cannot handle the paperwork and conflict that a lawsuit brings.

When they file a lawsuit against you, they are hoping that you will ignore it and not contest it or prepare a defense. They win many of their lawsuits this way, and it is the easiest way from them to recover the debt you allegedly owe. If you do not respond to the lawsuit, the company will obtain a default judgment against you. Once they have this, they can then take further action against you, such as garnishing your wages, without even notifying you first.

It is critical that you prepare yourself to take action if you have received notice of a lawsuit. You may not know that there are many defenses available, but there are and a Fort Lauderdale debt defense lawyer can explain what those are.

Read All Legal Paperwork Thoroughly

The paperwork you receive that notified you of the lawsuit will be full of complicated legal jargon. Still, it is important to read through the complete package completely and when doing so, it is important to focus on three components. Those are the time, dollars, and dates included in the package. Many times, understanding the wording of these documents is difficult, so it is important to speak to a debt defense lawyer that can help you make sense of it all.

Respond to the Lawsuit

In Florida, you have only 20 days to respond to the lawsuit. For this reason, it is crucial that you respond to the lawsuit as soon as possible. If you do not respond at all, LVNV Funding, LLC can obtain a default judgment against you. Likewise, if you rush to file your response at the last minute, you could make mistakes that could hurt you in the future.

When writing your response, remember that an inability to pay is not a defense. If the company can prove that you owe the debt, and that they own the account, they can still obtain a judgment against you. It is usually best to work with a Fort Lauderdale debt defense lawyer that can help you prepare a credible answer that shows you are taking the lawsuit seriously. A lawyer will be able to help you at a much lower cost, and can help you obtain an extended payment plan, if applicable.

Follow Up with Requests for Documentation and Information in a Timely Manner

You may have to provide additional responses after filing your answer to the initial lawsuit. Throughout the lawsuit process, the other side may ask you for certain information and documents. This generally happens during the discovery phase. If you do not respond to these requests appropriately, the judge may not look kindly on you and it could hurt your case.

Ask for Information

While LVNV Funding, LLC has the right to ask you for certain information, you also have the legal right to ask them for information. Ask for documentation that proves you owe the amount the company is asking for, and that justifies any penalties or fees they have added to the original debt. Demanding this information can provide the information you need for your defense.

Do Not Continue Making Payments

If the statute of limitations, or time limit, has expired on the debt, you can use that as a defense in your case. However, any time you make a payment, it can restart the clock on the statute of limitations. Making payments will not make the case go away, and could hurt you more than it could help.

Negotiate a Settlement

If you do owe the debt to LVNV Funding, LLC, they may be willing to negotiate a smaller amount in order to close the case. Work with a lawyer that can negotiate on your behalf and put any negotiated settlement into writing so there are no disputes in the future.

Contact a Debt Defense Lawyer in Fort Lauderdale

If you are being sued by LVNV Funding, LLC, it is critical that you speak to a Fort Lauderdale debt defense lawyer as soon as possible. At Loan Lawyers, we can help you take the above steps and represent you in court, if that is where your case is headed. We will prepare the best defense for your case and give you the best chance of a successful outcome. Call us now at (954) 523-4357 or contact us online to request a free consultation so we can get started on your case.

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Can I Modify My Mortgage in a Chapter 7 Bankruptcy?

When filing bankruptcy, you will have many questions. One of the most common questions our Fort Lauderdale bankruptcy lawyers here is whether or not they can save their home when filing Chapter 7 bankruptcy. While you can save your property when filing Chapter 13 bankruptcy, Chapter 7 bankruptcy does not provide such a mechanism. Still, you can file Chapter 7 and then approach your lender with a request for a loan modification, sometimes referred to as a workout.

Still, whether or not you are given a modification is entirely at the discretion of the lender. Even if they agree, you will also still likely have to wait until the lender determines that the bankruptcy trustee will not sell the home to distribute the proceeds of the sale to your creditors.

Control of Your Home when Filing Bankruptcy

The typical Chapter 7 bankruptcy case takes approximately four to six months before it is finalized. In the best of cases, this means that your debt has been discharged and you will no longer be responsible for those debts. As you move through your case, your property is moved over into the bankruptcy estate. You can still access your property during this time, and you will also retain control over it. However, you will share these rights with the bankruptcy trustee that oversees your case. The court will appoint the bankruptcy trustee at the beginning of your case and you will work closely with them throughout the entire process.

Your Property and the Trustee

Once your home becomes part of the bankruptcy estate, you are prohibited from taking certain actions. For example, you cannot try to sell the home or encumber it in any way, which includes requesting a loan modification from your lender. The only way you can do this is with permission from the court. The reason you cannot take action is because the bankruptcy trustee has to determine whether the creditors you owe money to have a claim over the property, or any proceeds from its sale.

There is a chance that the bankruptcy trustee will abandon your property. When they do this, they have determined that the home will not benefit the estate and essentially, that it cannot be liquidated to distribute the proceeds to your creditors. If the trustee decides that abandoning the property is the best decision, they will file a notice with the court. This notice will release control of the home from the bankruptcy trustee and the property will return to your control. If the case is not very complex, the trustee will attest at the 341 meeting of the creditors that your case is one that does not involve any assets.

A 341 meeting of the creditors is a meeting in which you will meet with your creditors and the bankruptcy trustee. During this meeting, the creditors you owe money to will have a chance to ask you questions, which you must answer under oath. The questions will pertain to your assets, debts, and anything else relevant to your bankruptcy case. If the bankruptcy trustee has deemed that your case is one that does not involve assets, they will file a no asset report with the bankruptcy court after the 341 meeting.

There is a possibility that the bankruptcy trustee will not abandon your property. If this is the case, it is likely due to the fact that the home still has value that cannot be protected with a bankruptcy exemption. When this is the case, the bankruptcy trustee can use any assets that are non-exempt to pay your creditors. Anyone who files for bankruptcy can exempt certain assets, such as your home, from the bankruptcy process. In reference to a home, you can generally protect up to a certain value using an exemption.

The value that can be protected in a bankruptcy state varies from state to state. In Florida, the homestead exemption protects a residence if it is the primary residence of a borrower, and the homeowner has lived in the home for 40 months or more, and the property is smaller than one-half acre in a municipality, or smaller than 160 acres elsewhere.

If your home has more equity in it than you can exempt, or the property is otherwise ineligible, such as being larger than one-half acre, the bankruptcy trustee may decide to sell it so the proceeds can be used to pay your creditors. Before the home can be sold though, the bankruptcy trustee will have to repay the balance of the mortgage, cover the cost of the sale, and their own commission. The bankruptcy trustee must also provide you with the value you are allowed to exempt.

Obtaining a Loan Modification

Bankruptcy trustees need a lot of time to evaluate the situation and go through the complex process of selling the homestead. During the time in which the bankruptcy trustee is making this decision, you can approach your lender and ask them to modify the mortgage loan. The lender may even contact your lawyer in writing inviting you to do this.

If the bank approves the loan modification request, and the bankruptcy trustee has not yet abandoned the home, you will need to take one of two actions. You will either need to file a motion with the bankruptcy court asking them to approve the loan modification, or you will have to contact the bankruptcy trustee and ask them to file notice that they are abandoning the property.

Our Bankruptcy Lawyer in Fort Lauderdale Can Assist with Your Case

Bankruptcy will offer you a chance at a fresh start, but the process is a complex one. At Loan Lawyers, our Fort Lauderdale bankruptcy lawyer can help you through the process, answer all of your questions, and give you the best chance of a positive outcome. Call us today at (954) 523-4357 or contact us online to schedule a free consultation and to learn more about how we can help.

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Is Credit Corp. Solutions Suing You for Unpaid Debt?

Credit Corp. Solutions is one of the biggest debt collectors in the country, but that does not automatically mean they always follow the law. The company has had many complaints filed against it, mainly for harassing phone calls and other forms of contact. If the company has threatened you with a lawsuit, or they have already taken legal action against you, it is important that you do not ignore it. Many people panic at the thought of a lawsuit and they think ignoring it will make it go away. Unfortunately, that will not happen.

If you ignore a lawsuit that Credit Corp. Solutions files against you, the company will likely win their case, and could then garnish your wages or take other negative action against you. Instead, it is best to speak to a Broward County debt defense lawyer that can review your case and determine the defense that is best suitable for your case.

Who is Credit Corp Solutions?

Credit Corp. Solutions is a third-party debt collection company that is based out of Utah, but they collect debts around the world. Many of the borrowers they take legal action against are right here in Broward County.

Like so many other debt collection companies, Credit Corp. Solutions does not always comply with the law when they are trying to collect from borrowers. Also as with so many other debt collectors, the company has been the subject of many formal complaints. These complaints vary, but one of the most common filed against the company is that they cannot verify the debt. This type of practice violates the Fair Debt Collections Practices Act (FDCPA). If Credit Corp. Solutions has contacted you, or they have already filed a lawsuit against you, it is crucial that you know your rights before contacting them.

Is Credit Corp Solutions a Scam?

As so many other debt collection companies do, Credit Corp. Solutions often harasses borrowers by constantly calling them, or even using threatening language. Due to these unscrupulous tactics, it is easy to assume that the company is a scam. Unfortunately, it is not. Credit Corp. Solutions is a legitimate business that has been listed with the Better Business Bureau (BBB) since 2016, but the BBB recognizes that the company has been in business since 2011.

The company does business under other names, as well, namely Tasman Credit and Tasman Credit Corp. If you receive notice of a lawsuit under these names, Credit Corp. Solutions are suing you. Regardless of the name used, the organization takes in approximately $1.7 million in profits every year, and that comes from borrowers the company claims owe debt, even when they do not. That amount may make it seem as though there is nothing you can do about the lawsuit but fortunately, that is not true.

Credit Corp. Solutions Collects on Many Types of Debt

Credit Corp. Solutions may be based in Utah in the United States, but the company was actually established over 25 years ago in Australia. Today, the organization collects debts from Americans, but they also still operate in Australia and New Zealand, as well. The company will try and collect on any type of debt it can purchase but they mainly focus on sales finance credit cards, retail financing, and personal loans.

According to the organization, their mission is to use controls and systems to collect on debt, and to benefit overall society in the long-term. They also state that they treat borrowers fairly and responsibly at all times, and that they simply want to help debtors improve their financial position. Sadly, this is untrue. The priority for Credit Corp. Solutions, like most other debt collection companies, is to make as much profit as possible. To do this, they file many lawsuits against borrowers all over the world, even when there is no solid basis for the legal action.

Complaints Against Credit Corp. Solutions

Like so many other debt collection companies, Credit Corp. Solutions has had many complaints filed against it. The BBB has closed only four complaints against the organization and three of the cases were in 2019, so the amount of complaints filed against the company could be increasing. The company has had 15 complaints lodged against it since 2015.

Why is Credit Corp. Solutions Filing a Lawsuit Against Me?

If Credit Corp. Solutions has filed a lawsuit against you, it may be because you have an unpaid debt and they are trying to recover it. Still, Credit Corp. Solutions often file illegitimate lawsuits against borrowers in an attempt to boost their own profits. They hope that debtors will ignore the summons, which is essentially not taking any action to defend themselves.

When that happens, the company will then attempt to obtain a default judgment against the borrower. A default judgment will mean that the company automatically wins their case, and you will automatically lose. In this case, Credit Corp. Solutions may try to garnish your wages, levy your bank account, and take other negative action against you.

It is essential that you speak with a Broward County debt defense lawyer if Credit Corp. Solutions has threatened you with legal action. Debt collectors cannot threaten to file a lawsuit against you, or take any other legal action, unless they fully intend on following through on that threat. A lawyer will review the facts of your case, determine what defense strategy is best for you, and represent you throughout your case.

Our Debt Defense Lawyer in Broward County Can Fight the Lawsuit Filed Against You

If you have been named in a lawsuit filed by Credit Corp. Solutions, it is critical that you speak to a Broward County debt defense lawyer as soon as possible. At Loan Lawyers, our skilled attorneys will review the facts of the case, determine which defense is the best strategy in your case, and represent you throughout the entire case. Call us today at (954) 523-4357 or contact us online to schedule a free case review and to learn more about how we can help.

People Also Ask:

• Does Credit Corp Solutions sue?
• What happens when a collection agency sues you?
• Can you be sued for a charged off debt?

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How Can a Chapter 13 Bankruptcy Help Me as I Emerge From a Mortgage Loan Forbearance?

Millions of homeowners around the country availed themselves of forbearance plans due to the COVID-19 pandemic. Forbearance plans allow a homeowner to miss mortgage payments for a given time period. In the short term, this is great for a struggling homeowner. However, what the banks and loan servicers don’t tell you is what will happen when the forbearance plan ends. We have seen a wide range of offers. Most of the time, we see the loan servicer requiring all missed mortgage payments to be made immediately at the end of the forbearance.

If someone was struggling and could not make payments, where in the world are they going to come up with 6 months of missed mortgage payments at one shot? Plus, many people were delinquent on at least one mortgage payment when they entered the forbearance and for these homeowners, paying all of the missed payments is the only option that we have seen loan servicers offer homeowners in this position.

For many homeowners stuck in this position, a chapter 13 bankruptcy may be a great option to explore. In a chapter 13 bankruptcy, you may be able to get a plan to start making your normal mortgage payments again and get 5 years to catch up on any missed mortgage payments during a forbearance. For someone who is back on their feet and already has a low-interest rate, this could be a great option.

If you are back on your feet but have a high-interest rate, you may want to consider going straight to loan modification or possibly still file a chapter 13 bankruptcy and enter the mortgage mediation modification program in bankruptcy if you live in South Florida. There are many paths that someone could take after a forbearance and navigating the options can be daunting.

It is important to find an experienced South Florida law firm that does loan modification, bankruptcies, and foreclosure defense to help you determine which option may be the best option for you. If you go to a law firm that only offers one of these solutions, they are going to throw your case in the same bucket as everyone else’s case, even if that’s not the best option for you. These options are very nuanced, and it takes many years of experience in saving homes to properly advise someone on which path to take.

At Loan Lawyers, we have helped thousands of Florida families navigate through the stressful process of saving their homes and you can put our experience to work for you. As more and more people need help saving their homes, more and more scams and inexperienced lawyers are going to start popping out of the woodwork. You need the best legal advice and assistance you can get, so call Loan Lawyers today for your FREE legal consultation with one of our attorneys. We will walk you through your options provide you with a solution that is suited to give you the best chance of saving your home. Call us today at 1-888-FIGHT-13 to schedule your free consultation.

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Can I Modify My Mortgage in a Chapter 7 Bankruptcy?

When filing bankruptcy in Florida, you will have many questions. One of the most common questions our Fort Lauderdale bankruptcy lawyers here is whether or not they can save their homes when filing Chapter 7 bankruptcy. While you can save your property when filing Chapter 13 bankruptcy, Chapter 7 bankruptcy does not provide such a mechanism. Still, you can file Chapter 7 and then approach your lender with a request for a loan modification, sometimes referred to as a workout.

Still, whether or not you are given a modification is entirely at the discretion of the lender. Even if they agree, you will also still likely have to wait until the lender determines that the bankruptcy trustee will not sell the home to distribute the proceeds of the sale to your creditors.

Control of Your Home when Filing Bankruptcy

The typical Chapter 7 bankruptcy case takes approximately four to six months before it is finalized. In the best of cases, this means that your debt has been discharged and you will no longer be responsible for those debts. As you move through your case, your property is moved over into the bankruptcy estate. You can still access your property during this time, and you will also retain control over it. However, you will share these rights with the bankruptcy trustee that oversees your case. The court will appoint the bankruptcy trustee at the beginning of your case and you will work closely with them throughout the entire process.

Your Property and the Bankruptcy Trustee

Once your home becomes part of the bankruptcy estate, you are prohibited from taking certain actions. For example, you cannot try to sell the home or encumber it in any way, which includes requesting a loan modification from your lender. The only way you can do this is with permission from the court. The reason you cannot take action is because the bankruptcy trustee has to determine whether the creditors you owe money to have a claim over the property or any proceeds from its sale.

There is a chance that the bankruptcy trustee will abandon your property. When they do this, they have determined that the home will not benefit the estate and essentially, that it cannot be liquidated to distribute the proceeds to your creditors. If the trustee decides that abandoning the property is the best decision, they will file a notice with the court. This notice will release control of the home from the bankruptcy trustee and the property will return to your control. If the case is not very complex, the trustee will attest at the 341 meeting of the creditors that your case is one that does not involve any assets.

A 341 meeting of the creditors is a meeting in which you will meet with your creditors and the bankruptcy trustee. During this meeting, the creditors you owe money to will have a chance to ask you questions, which you must answer under oath. The questions will pertain to your assets, debts, and anything else relevant to your bankruptcy case. If the bankruptcy trustee has deemed that your case is one that does not involve assets, they will file a no-asset report with the bankruptcy court after the 341 meeting.

There is a possibility that the bankruptcy trustee will not abandon your property. If this is the case, it is likely due to the fact that the home still has value that cannot be protected with a bankruptcy exemption. When this is the case, the bankruptcy trustee can use any assets that are non-exempt to pay your creditors. Anyone who files for bankruptcy can exempt certain assets, such as your home, from the bankruptcy process. In reference to a home, you can generally protect up to a certain value using an exemption.

The value that can be protected in a bankruptcy state varies from state to state. In Florida, the homestead exemption protects a residence if it is the primary residence of a borrower, and the homeowner has lived in the home for 40 months or more, and the property is smaller than one-half acre in a municipality, or smaller than 160 acres elsewhere.

If your home has more equity in it than you can exempt, or the property is otherwise ineligible, such as being larger than one-half acre, the bankruptcy trustee may decide to sell it so the proceeds can be used to pay your creditors. Before the home can be sold though, the bankruptcy trustee will have to repay the balance of the mortgage, cover the cost of the sale, and their own commission. The bankruptcy trustee must also provide you with the value you are allowed to exempt.

Obtaining a Loan Modification

Bankruptcy trustees need a lot of time to evaluate the situation and go through the complex process of selling the homestead. During the time in which the bankruptcy trustee is making this decision, you can approach your lender and ask them to modify the mortgage loan. The lender may even contact your lawyer in writing inviting you to do this.

If the bank approves the loan modification request, and the bankruptcy trustee has not yet abandoned the home, you will need to take one of two actions. You will either need to file a motion with the bankruptcy court asking them to approve the loan modification, or you will have to contact the bankruptcy trustee and ask them to file notice that they are abandoning the property.

Our Bankruptcy Lawyer in Fort Lauderdale Can Assist with Your Case

Bankruptcy will offer you a chance at a fresh start, but the process is a complex one.  At Loan Lawyers, a Fort Lauderdale bankruptcy lawyer can help you through the process, explore loan modification, answer all of your questions, and give you the best chance of a positive outcome. Call us today at (954) 523-4357 or contact us online to schedule a free consultation and to learn more about how we can help.

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Is Credit Corp. Solutions Suing You for Unpaid Debt?

Credit Corp. Solutions is one of the biggest debt collectors in the country, but that does not automatically mean they always follow the law. The company has had many complaints filed against it, mainly for harassing phone calls and other forms of contact. If the company has threatened you with a lawsuit, or they have already taken legal action against you, it is important that you do not ignore it. Many people panic at the thought of a lawsuit and they think ignoring it will make it go away. Unfortunately, that will not happen.

Table of Contents

• Who is Credit Corp Solutions?
• Is Credit Corp Solutions a Scam?
• Credit Corp. Solutions Collects on Many Types of Debt
• Complaints Against Credit Corp. Solutions
• Why is Credit Corp. Solutions Filing a Lawsuit Against Me?
• Fight the Lawsuit Filed Against You

If you ignore a lawsuit that Credit Corp. Solutions files against you, the company will likely win their case, and could then garnish your wages or take other negative action against you. Instead, it is best to speak to a Broward County debt defense lawyer that can review your case and determine the defense that is best suitable for your case.

Who is Credit Corp Solutions?

Credit Corp. Solutions is a third-party debt collection company that is based out of Utah, but they collect debts around the world. Many of the borrowers they take legal action against are right here in Broward County.

Like so many other debt collection companies, Credit Corp. Solutions does not always comply with the law when they are trying to collect from borrowers. Also as with so many other debt collectors, the company has been the subject of many formal complaints. These complaints vary, but one of the most common filed against the company is that they cannot verify the debt. This type of practice violates the Fair Debt Collections Practices Act (FDCPA). If Credit Corp. Solutions has contacted you, or they have already filed a lawsuit against you, it is crucial that you know your rights before contacting them.

Is Credit Corp Solutions a Scam?

As so many other debt collection companies do, Credit Corp. Solutions often harass borrowers by constantly calling them, or even using threatening language. Due to these unscrupulous tactics, it is easy to assume that the company is a scam. Unfortunately, it is not. Credit Corp. Solutions is a legitimate business that has been listed with the Better Business Bureau (BBB) since 2016, but the BBB recognizes that the company has been in business since 2011.

The company does business under other names, as well, namely Tasman Credit and Tasman Credit Corp. If you receive notice of a lawsuit under these names, Credit Corp. Solutions are suing you. Regardless of the name used, the organization takes in approximately $1.7 million in profits every year, and that comes from borrowers the company claims owe a debt, even when they do not. That amount may make it seem as though there is nothing you can do about the lawsuit but fortunately, that is not true.

Credit Corp. Solutions Collects on Many Types of Debt

Credit Corp. Solutions may be based in Utah in the United States, but the company was actually established over 25 years ago in Australia. Today, the organization collects debts from Americans, but they also still operate in Australia and New Zealand, as well. The company will try and collect on any type of debt it can purchase but they mainly focus on sales finance credit cards, retail financing, and personal loans.

According to the organization, their mission is to use controls and systems to collect on debt, and to benefit overall society in the long-term. They also state that they treat borrowers fairly and responsibly at all times, and that they simply want to help debtors improve their financial position. Sadly, this is untrue. The priority for Credit Corp. Solutions, like most other debt collection companies, is to make as much profit as possible. To do this, they file many lawsuits against borrowers all over the world, even when there is no solid basis for legal action.

Complaints Against Credit Corp. Solutions

Like so many other debt collection companies, Credit Corp. Solutions has had many complaints filed against it. The BBB has closed only four complaints against the organization and three of the cases were in 2019, so the number of complaints filed against the company could be increasing. The company has had 15 complaints lodged against it since 2015.

Why is Credit Corp. Solutions Filing a Lawsuit Against Me?

If Credit Corp. Solutions have filed a lawsuit against you, it may be because you have an unpaid debt and they are trying to recover it. Still, Credit Corp. Solutions often file illegitimate lawsuits against borrowers in an attempt to boost their own profits. They hope that debtors will ignore the summons, which is essentially not taking any action to defend themselves.

When that happens, the company will then attempt to obtain a default judgment against the borrower. A default judgment will mean that the company automatically wins their case, and you will automatically lose. In this case, Credit Corp. Solutions may try to garnish your wages, levy your bank account, and take other negative action against you.

It is essential that you speak with a Broward County debt defense lawyer if Credit Corp. Solutions has threatened you with legal action. Debt collectors cannot threaten to file a lawsuit against you, or take any other legal action unless they fully intend on following through on that threat. A debt defense lawyer will review the facts of your case, determine what defense strategy is best for you, and represent you throughout your case.

Our Debt Defense Lawyer in Broward County Can Fight the Lawsuit Filed Against You

If you have been named in a lawsuit filed by Credit Corp. Solutions, it is critical that you speak to a Broward County debt defense lawyer as soon as possible. At Loan Lawyers, our skilled Florida debt attorneys will review the facts of the case, determine which defense is the best strategy in your case, and represent you throughout the entire case. Call us today at (954) 523-4357 or contact us online to schedule a free case review and to learn more about how we can help.

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How Do You Fight Student Loans and Collection Calls?

Currently, the amount of student loans in the country is approximately $1.57 million and about 11 percent of these loans are in default or are severely delinquent. This debt threatens the financial future of millions of Americans and can make it extremely difficult to pay for a person’s daily expenses.

It is not uncommon for debt collectors to purchase student loan debt from original creditors and aggressively pursue it from the borrower. They may even take illegal action when trying to recover on debt, such as using harassing or threatening language.

It is possible to fight student loans and collection calls, but it is not always easy. If a collection company has violated your rights, it is important that you speak with a debt defense lawyer as soon as possible.

Debt Collection Harassment is Against the Law

The Federal Debt Collection Practices Act (FDCPA) prohibits debt collectors from harassing, oppressing, or abusing borrowers, or anyone else they contact in regards to the loan. This law applies to debt collectors trying to recover student loans, too. Some of the most common examples of illegal tactics used by debt collectors include:

• Repetitive phone calls that are intended to abuse, annoy, or harass you or any person answering the phone
• Use of profane or obscene language
• Threats of harm or violence
• Publicly publishing the names of borrowers that cannot pay their debt, with the exception of reporting borrowers to credit reporting companies
• Calling without identifying who they are or why they are calling

Any time a debt collector, even those trying to recover student loan debt, harasses you or otherwise violates the law, you can file a claim against them under the FDCPA. If you win your lawsuit, you could be entitled to up to $1,000 in damages. These lawsuits are complex, and you will have to prove your case. It is essential that you speak with a Fort Lauderdale debt defense lawyer before filing your suit to give yourself the best chance of success with your claim.

Under the Telephone Consumer Protection Act (TCPA), consumers are protected from receiving robocalls from debt collection companies, unless they have expressly consented to this type of contact. Even when a consumer provides consent to receive robocalls, they can withdraw that permission at any time. Still, it is critical for anyone with an outstanding student loan to know that in 2015, Congress outlined an exception for debt collectors of federal debts, which includes government-backed student loans.

What to Do if Contacted by a Debt Collector for a Student Loan

Regardless of your situation, the first time a debt collection company contacts you about a student loan, you should take it very seriously. If you ignore it, you could seriously and negatively affect your financial future. Any time you are contacted by a debt collection company based on a student loan, the steps to take are as follows:

• Apply for an income-driven repayment plan: Anyone with a federal loan can apply for an income-driven repayment plan, available from the U.S. Department of Education. If you only have a certain amount of income, the repayment plan could mean you can pay as little as zero dollars a month.
• Refinance the loan: You may be able to refinance your loan privately. Before making this move, it is important to speak to a Fort Lauderdale debt defense lawyer that can help you determine if it is right for you.
• Be cautious of student loan relief companies: Student loan relief companies do not only charge high upfront fees, which will only make it more difficult to pay off your loan while maintaining your daily expenses. Additionally, these companies are not always legitimate and are only looking to prey on desperate borrowers. The Federal Trade Commission sued five companies in California and Florida in 2017. This was part of what was known as the “Operation Game of Loans,” which required enforcement by the attorney generals in 11 states and the District of Columbia. Florida was one of these, along with Colorado, Kansas, Illinois, North Carolina, Maryland, North Dakota, Pennsylvania, Oregon, Washington, and Texas.
• Speak to a lawyer: It is critical that you speak to a Fort Lauderdale debt defense lawyer if you receive notice that the debt collection company is suing you over student loan debt. If you do not respond to the lawsuit, the company will likely try to obtain a default judgment against you, and they will probably be successful. A default judgment will allow the debt collection company to take legal action against you, such as placing a lien on your property or garnishing your wages. A lawyer may be able to fight back against the lawsuit by proving the debt is not yours, and get the lawsuit dismissed.
• Consequences of federally-backed loans: The majority of student loans are federally-backed, and while that can make it easier for some to obtain the money they need for university, it can also bring additional consequences for those that have a federal loan. If you default on a federal student loan, the government may seize your social security payments or tax refund, and they can also garnish your wages.

A debt defense lawyer in Fort Lauderdale can help you fight back against these lawsuits and give you the best chance of a positive outcome.

Call Our Debt Defense Lawyer in Fort Lauderdale for Help with Your Case

If you have been contacted by a debt collection company regarding a student loan debt, you need help from our Fort Lauderdale debt defense lawyers. At Loan Lawyers, our skilled attorneys will help you fight back against these lawsuits and show that the debt is not yours, or that you are not responsible for the full amount the company is seeking. When you need help, call us at (954) 523-4357 or fill out our online form to schedule a free consultation with one of our skilled attorneys and to learn more about how we can help.

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