I know judgment proof and collection proof are really just words and that judgment can still be issued but is there really a need for attny at this point if you have nothing but your clothes and an IRA (small) ? Acct telling me he already filed i...
The distinction you are making between judgment proof and collection proof is important. Many people use the term "judgment proof", but that is really a misnomer. No one is judgment proof. "Collection proof" is more accurate to say that a party can get a judgment against you, but they may not be able to collect on it.
I have represented a number of “collection proof” individuals to resolve debts through litigation and bankruptcy. In those representations, I made very clear to my clients that they were collection proof, but it was worth it to them to not have to worry about the debt in the future. As some of the other attorneys indicated, a judgment can last up to twenty years and can negatively influence your credit. If you acquire assets or employment during that time, it is possible it could be collected upon with interest. Twenty years is a long time to live while having a judgment hang over your head.
Furthermore, the burden is on the creditor to prove its case. If you don't recall the debt, then you may have supportable defenses that a trained attorney will be able to identify and bring to the Court’s attention.
In summary, do what your resources allow for. If you can afford an attorney (or if you can find one pro bono), I think it’s in your interest to find representation so you can preserve your rights and save yourself future possible problems.See question
If a debt collection lawsuit is withdrawn or lost in court, can the plaintiff still seek attorney's fees? The contract has a stipulation to collect attorney's fees on default.
As indicated by Mr. Tischhauser, in order for there to be a Court award for attorney fees, then the Plaintiff must win the case. There can be no Court award to the Plaintiff for attorney's fees if the case is withdrawn because the Plaintiff hasn't won anything.
Typically it is the opposite - if the Plaintiff has withdrawn their lawsuit, then the Defendant may be entitled to recover their attorney fees if they have any. Please note that a request for recovery of attorneys fees is a fairly technical request, and not every request will be granted - even when a party wins.
With that said, if the case is dismissed "without prejudice", the Plaintiff could re-file the case later in time, in which case they may be able to recover attorney's fees in the later case.
Furthermore, there is nothing which prevents the parties to agreeing to a settlement which includes the payment of attorneys fees, and the Plaintiff could withdraw the lawsuit based on the settlement. In this situation, the attorneys fees are based on the settlement, not a Court order, so the circumstances are a little different.See question
We had re-modified our mortgage about 5 years ago. Due to the decline in the market my husband's construction business has suffered. Result is we defaulted on it and HOA which HOA pursued and had foreclosure date set but we had to file CH13 which ...
A case management conference is just the Judge's way of asking everyone what is going on in a case. Where there is a bankruptcy pending, it suggests that one of two things has occurred: either 1) the Foreclosure Judge may not be aware that you are still in bankruptcy, or 2) the automatic stay" (the name for the freeze that bankruptcy places on the foreclosure case) may have already expired.
You may want to review your case status with a bankruptcy attorney who can help inform you and the foreclosure court as to the impact that your bankruptcy has on the foreclosure case. Even though you don't want to keep your house, it may be that the foreclosure is not allowed to re-start yet.See question
I applied for a loan modification. It has now been two years without an approval. I have had three court hearings and now scheduled for the fourth - motion to cancel and reschedule. I have provided the lender with everything they have asked fo...
Great recommendation from the other attorney. The Consumer Financial Protection Bureau has a section of their website where you can file a complaint. This is a great place for you to start given the complications your are describing. Two years is a very long time to attempt to request a modification without a good faith response.
I think your concerns are well founded - the Court may not enter another continuance even if the lender requests it. If you don't obtain legal representation soon, you may be in substantial risk of losing your home in spite of all of your hard work.See question
My husband and I had to file bankruptcy a few years ago. The property we lived in was in pre-foreclosure and we were under the impression that the foreclosure was finished. We have since found out that it fell through the cracks and was written of...
When a homeowner files for Chapter 7 bankruptcy, the bankruptcy eliminates the homeowner's personal liability on a mortgage, which means that the bank cannot go after the homeowner for money. However, the bankruptcy does not eliminate the bank's ability to collect on the property. In other words, the bank can still foreclose even though a homeowner has filed bankruptcy.
Historically, the legal opinions had said that a bank can only attempt to foreclose on a property for 5 years after they first start a lawsuit. But recent cases may change that length of time to allow a bank to foreclose for the entire life of a loan, plus 5 years. This new length of time applies even if a foreclosure case has been dismissed. For most residential loans, this generally allows the bank to foreclose for 35 years.
Even if your loan has not passed the 35 year mark, you are still allow to sell your property, just like anyone is allowed to sell a property with a mortgage on it. If the sale price does not exceed the balance of the mortgage, you may have to talk to your lender about a "short sale," meaning to sell the property at its fair market value, subject to the lender reducing the balance owed.
These issues can be complicated. I would recommend consulting with an attorney to understand your specific rights and obligations.See question
Bank sends acceleration letter dated 6/18/2009.. Letter states no mortgage payments made since 3/1/2009.. Lis pendes 7/23/2009 Case dismissed without prejudice 11/2013.. Is the 5 year limitations date 3/1/2014 or 6/18/2014?
I have successfully eliminated mortgages based on acceleration in bankruptcy court. To supplement the prior responses, there are a number of different ways that acceleration can be shown. An acceleration letter is a great example. Alternatively, the foreclosure lawsuit can be another method of showing that the loan has been accelerated (almost every foreclosure lawsuit contains an allegation that the lender is claiming that the full balance is due). I have not seen any case law that states a which is more authoritative in initiating the acceleration as between a letter or a lawsuit, so I would argue that whichever came first in time is what starts your statute of limitations timeline. But with that said, it would be the more conservative path to wait until both timelines have passed.See question
The original debt is from 2003, but, the judgement was filed on 04/2008. I paid to the plaintiff from $3,500.00 the amount of $2,200 (2008-2011). The garnished my salary (bank account), but, the judge granted me the head of house, since I was the...
As indicated in the prior answers, a judgment remains valid for up to 20 years in Florida. While the head of household protection from creditors may limit a judgment collector's ability to garnish your wages, it does not eliminate the judgment.
To qualify for the head of household protection from creditors, you must have 1 or more dependents. If your dependents get older and find a job, then they may not qualify as a dependent any more, and you may lose your head of household protection. At that later time, the judgment collector may re-apply for the garnishment, and you may not have a legal protection to stop them.
This might not be an immediate issue for you as you are indicating that you are unemployed. Additionally, even if you re-establish income, you may have another legal protection that may be afforded to your assets or income. But you may want to consider finding a way to address the judgment when you have the means to do so. Options can include settlement, a payment plan with the creditor, or bankruptcy depending on your situation.See question
is it legal that dealer reposes my vehicle after two months of not finding me a lender and keep my down payment ? i also made a payment to them since they were taking long to find my lender
Typically, financing is already secured before a purchaser drives off with a vehicle, so it is unusual to hear that a dealership would search for financing for two months after you have taken possession of the vehicle.
There are several reason to sue in a transaction with a dealership, including a breach of the purchase agreement and breach of Florida laws that address unfair business practices. It is possible that you may be entitled to sue the dealership for breach on both of these issues, but it will be a detailed fact analysis to determine your right to sue. Because of the complexity of this case, I would strongly recommend that you consult with an attorney.See question
We had a Mastercard with a credit union for years and paid on time without any issues. Then we financed a car loan with the same credit union and paid almost all the remaining balance. We then financed a second car without any issues, and we were ...
I agree with Attorney Roberts. It is common practice for credit unions to cross collateralize their loans. Each loan is subject to its own specific terms, but the likelihood is that the cross collateralization is in your fine print.
The law states that all parties are responsible for what they sign. So the burden is on you to read your contract. DO NOT assume that a lender is going to explain each "gotcha" provision in a contract. This is valuable advice for any agreement that you enter into.
Another practice to watch out for is called "setoff." If you fall behind on a loan with a credit union, they usually can deduct money directly with the accounts that you hold with them.
In short, beware of the fine print.See question
My CH 7 was discharged this March 2013 and included my Home Loan which is currently in Foreclosure proceedings with OCWEN. I was first served on the foreclosure Dec 17th 2012. The letter entitled "Order Setting Status Conference on Bankruptcy st...
When a bankruptcy case is filed during an existing foreclosure case, the bankruptcy will generally provide a stop (or "stay") in the foreclosure action. However, the "stop" that the bankruptcy provides is temporary, and generally, unless the loan that is being foreclosed on is modified, the bank is allowed to continue with their foreclosure about 3 months after the chapter 7 was filed. Even when a mortgage is "included" in a chapter 7 bankruptcy, the bank is still allowed to foreclose.
I would recommend that you do seek out an attorney for the upcoming status conference. You have rights in your foreclosure case, even after you have filed bankruptcy. Moreover, both bankruptcy and foreclosure can be fairly complicated areas of the law - even for attorneys. It would be a good idea to have legal representation to give you unbiased guidance and help you to assert your rights.See question