Consumer Financial Services Law

FEBRUARY 1, 2018

The Tenth Circuit has weighed in on whether a non-judicial foreclosure is debt collection activity. Instead of responding, the law firm initiated a non-judicial foreclosure. Mr. Obduskey then filed suit alleging the law firm violated 15 U.S.C. LEXIS 1275 (10 th Cir.,

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Jimerson Firm

SEPTEMBER 22, 2020

Parts 1-3 of this series explored alternative pre-foreclosure loss mitigation options for lenders including acceleration and enforcement of personal guarantees. The answer to the question of whether hotel revenues constitute rent under Section 697.07, Florida Statutes, may depend upon the district in which the foreclosure action is pending.

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FDCPA Defense

AUGUST 19, 2013

291 (1995), lawyers have known that if they seek to collect consumer debts for clients – even when doing so through litigation – they might qualify as a "debt collector" under the Fair Debt Collection Practices Act, 15 U.S.C. Jenkins , 514 U.S. As confirmed by a recent decision from the Tenth Circuit, James v. Wadas , _ F.3d

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Jimerson Firm

MAY 26, 2021

Lenders need to be aware that borrowers and other lienholders can bring an action or proceeding to set aside, invalidate, or challenge the validity of a final judgment of foreclosure of a mortgage, even after the foreclosure sale. When Can the Foreclosure Sale Be Invalidated? Nationstar Mortg., Diaz , 227 So. 3d 726, 730 (Fla.

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BN Lawyers

MARCH 21, 2019

McCarthy & Holthus, LLP, holding that that business engaged solely in non-judicial foreclosure activities are generally exempt from the Fair Debt Collection Practices Act, 15 U.S.C. It is unclear what impact the decision on the debt collection and foreclosure industry beyond the limited facts of the case, but as in Henson v.

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Jimerson Firm

NOVEMBER 13, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. In Florida, the lender can choose from the following methods: Deed in Lieu of Foreclosure. Lien Foreclosure. See SOP 50 57.

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Jimerson Firm

OCTOBER 21, 2020

Under Florida law, condominium associations have the ability to assess unit owners for their proportional amount of the costs and expenses for maintaining and operating the condominium property. The ability of condominium associations to collect assessments from unit owners is provided for in Chapter 718, Fla. How Do I Collect?

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Jimerson Firm

AUGUST 7, 2020

The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is the Purpose of the Act? 3), Fla.

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FFGN COLLECT NY

JUNE 12, 2022

Are you or your collection attorney attempting debt collection efforts even though the debtor filed for bankruptcy? If so your collection attorney is exposing you, the law firm, and themselves to personal liability for a money judgment that could far exceed your claim. A Cautionary Tale. The debtor did not pay.

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Mich Bankruptcy Blog

APRIL 28, 2019

For many, the term “debt collection” calls to mind threatening letters and harassing, late-night phone calls. Read More › Tags: Collections , Financing , U.S. Supreme Court.

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Consumer Financial Services Law

FEBRUARY 18, 2019

McCarthy & Holthus LLP regarding whether non-judicial foreclosures qualify as debt collection under the FDCPA, the Sixth Circuit doubled down on its position that non-judicial foreclosures are debt collection. Trott Law, P.C. Building on its 2013 decision in Glazer v. Chase Home Finance LLC., 3d 453 (6th Cir.

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Consumer Financial Services Law

MARCH 15, 2019

In those cases, the Sixth Circuit concluded that foreclosure proceedings are debt collection. In 2016, the bank engaged the defendant law firm to foreclose on the underlying real property. The law firm then sent Ms. IS THE CREDITOR'S ATTORNEY AND IS ATTEMPTING TO COLLECT A DEBT ON ITS BEHALF.

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Jimerson Firm

NOVEMBER 11, 2020

a bankruptcy filing, business shutdown, or foreclosure by a prior lienholder) that caused the loan to be classified in liquidation status or sooner if the collateral could be removed, lost, or dissipated. The post SBA Loan Site Visits: How to Prepare and What to Expect appeared first on Jimerson Birr Law Firm.

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Jimerson Firm

NOVEMBER 23, 2020

if the collateral is likely to be acquired by SBA or the lender at the foreclosure sale, the expenses associated with the care, preservation and resale of the acquired collateral. Collection of Accounts Receivable. Lien Foreclosure. See SOP 50 57. 679.607(1), Fla. SBA Loans: How to Maximize Recovery by Liquidating Real Property.

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Jimerson Firm

JULY 30, 2020

Part 2 of this series analyzed pre-foreclosure loss mitigation options for lenders dealing with hotel/restaurant mortgage defaults. and a foreclosure sale netted the lender $3,675,000 leaving a deficiency of $918,398.49. Personal guaranties offer lenders additional tools when seeking to collect on defaulted loans. Bryan, 384 So.

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The McHughes Law Firm

AUGUST 29, 2016

New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. 1: I Will Lose Customers If I Push Too Hard to Collect.

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Jimerson Firm

DECEMBER 30, 2020

Essentially, a workout agreement restructures the material terms and conditions of the SBA loan in order to: avoid actions such as foreclosure or bankruptcy; allows the borrower to cure the default and improve their ability to repay the loan; and enables the lender or CDC to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed. Wells Fargo Bank , N.A.,

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Credit Corp

AUGUST 25, 2020

You can be denied military enlistment if you’re in financial trouble, such as if you have a number of collections in your credit history. Repossession and foreclosure. Repairing your credit with Lexington Law can help you save money. Get Help Now. Privacy Policy. Disclosure: Credit.com is owned by Progrexion Holdings Inc.

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FDCPA Defense

FEBRUARY 3, 2019

Attorneys who regularly engage in collection work for community associations have increasingly become targets for lawsuits filed by professional consumer attorneys under the Fair Debt Collection Practices Act (“FDCPA” or “the Act”), 15 U.S.C. and analogous state laws. Are You Engaged In “Debt Collection” Under The FDCPA?

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Sawin & Shea

JANUARY 11, 2024

Guidance: Opting for a course from an established bankruptcy law firm often means gaining financial skills guidance from professionals well-versed in bankruptcy law and processes. If this fee would cause hardship, you can always ask if the provider will use a sliding scale for your enrollment fees.

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Consumer Financial Services Law

MARCH 15, 2018

2018), a letter from a law firm advising the consumer that the creditor would not seek recovery of the deficiency balance resulted in an FDCPA claim. Pursuant to our conversation, I informed you that we have received the executed Warranty Deed in Lieu of Foreclosure signed by the Hagy[s]. Demers & Adams, 2018 U.S.

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Troutman Sanders

JANUARY 11, 2021

On December 15, 2020, the Seventh Circuit Court of Appeals decided four cases which all dealt with the issue of standing within the context of the Fair Debt Collection Practices Act (“FDCPA”). Sandra Bazile (“Bazile”) alleged that Finance System of Green Bay (“FSGB”) sent her a dunning letter seeking to collect medical debts she incurred.

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FDCPA Defense

FEBRUARY 1, 2018

Attorneys and other entities that regularly engage in collection work for community associations may be subject to the requirements of the Fair Debt Collection Practices Act, 15 U.S.C. as well as analogous state laws governing the consumer collection process. The issue in Ho v. 21, 2017) (No.

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Debt Free Colorado

MARCH 3, 2023

Every case is unique, and every case merits the careful consideration of a law firm dedicated to providing specialized bankruptcy solutions. Are you at risk of falling into foreclosure, being evicted, or having your utilities cut off? After Filing for Bankruptcy, am I Still Able to Own Property? What Can’t Bankruptcy Do?

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FDCPA Defense

JANUARY 22, 2017

(This post is adopted from the materials presented at the CAI Law Seminar in Las Vegas, Nevada on January 20, 2017) Demystifying the FDCPA Class Action For HOA Attorneys Consumer attorneys have been filing FDCPA class actions against collection attorneys for decades, and the pace of those filings has increased sharply in the past ten years.

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Jimerson Firm

SEPTEMBER 28, 2020

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. It is important for the plaintiff to check the local rules in the county where the foreclosure action is filed to determine if there are any procedural requirements. 49.08, Fla. 1)(c), Fla. 702.035, Fla.

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Troutman Sanders

APRIL 11, 2022

Department of Education announced an extension of its pause on student loan repayment, interest, and collections through August 31, 2022. Attorney General James’ office claims the conduct “violates New York Executive Law, the Federal Debt Collection Practices Act, and the New York General Business Law.”

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Troutman Sanders

MAY 16, 2022

The SCIF intends to collect information about the borrower’s language preference, if any, and on any homebuyer education or housing counseling the borrower received, so lenders can better understand borrower needs during the home buying process. million for consumer restitution,” and “includes up to $900,000 in civil penalties.”

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Account Recovery

DECEMBER 9, 2024

Read on to hear what the experts have to say this week. The Court focused on two (2) questions: First, when does review of a closed account constitute a permissible purpose under 1681(a)(3)(A)?

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Troutman Sanders

NOVEMBER 7, 2023

On October 30, the FTC announced that it had banned the owner of a small business funding company from both the merchant cash advance and debt collection industries. The AG’s office alleged that the company used “deceptive methods” to solicit homeowners facing foreclosure and failed to provide the services they promised.

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