Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. 55.501, Fla.

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Judgment Debtor Garnishment Creditors 59

Nexa Collect

NOVEMBER 1, 2021

Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. Internal Revenue Service (IRS) claims digital assets like properties. government earlier before?

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Debtor Creditors Government Banks 130

Troutman Sanders

NOVEMBER 15, 2022

District Court for the District of New Hampshire granted the Securities and Exchange Commission’s (SEC) motion for summary judgment against blockchain-based, file-sharing platform LBRY. In its summary judgment motion, the SEC argued that LBRY’s public offering of its native token LBC constituted an unregistered sale of securities.

Financial services 52

Financial services Student Loans Student loans Trade 52

Troutman Sanders

OCTOBER 16, 2023

On October 10, the North American Securities Administrators Association (NASAA) — an alliance of securities regulators across the states, Canada, and Mexico — supported the SEC’s claims that assets and services offered by crypto exchange Coinbase are investment contracts. For more information, click here. For more information, click here.

Financial services 52

Financial services Student Loans Student loans Credit Unions 52

Troutman Sanders

NOVEMBER 2, 2020

State Activities: On October 30, Virginia Governor Ralph Northam signed House Bill 568, which automatically exempts emergency relief payments, as defined in the bill, from the creditor process, including garnishments and liens. For more information, click here. To read the full statement, click here.

Financial services 52

Financial services Financial Institution Loans Credit Unions 52

Troutman Sanders

DECEMBER 20, 2022

Proposition 209 has been touted as a way to protect Arizonans with medical debt from bankruptcy, has set new exemption limits on property subject to debt collection, and has decreased the portion of a judgment debtor’s income subject to garnishment. The plaintiffs, led by the Arizona Creditors Bar Association, Inc.,

Financial services 52

Financial services Student Loans Student loans Loans 52

Troutman Sanders

OCTOBER 7, 2021

a Third Circuit district court granted summary judgment to the defendants in a Fair Debt Collection Practices Act (FDCPA) case. a debt buyer, retained defendant LTD Financial Services, L.P. LTD subsequently sent four collection letters to the plaintiff that identified the creditor as “Citibank (South Dakota), N.A.

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Troutman Sanders

MAY 9, 2023

Among other things, the bill: (1) caps the rate of interest on medical debt to 3% per annum; (2) requires a debt collector or collection agency collecting on a medical debt to provide the consumer, upon the consumer’s written or oral request, an itemized statement concerning the debt, while allowing the consumer to dispute the validity of the debt (..)

Financial services 52

Financial services Student Loans Student loans Loans 52

Jimerson Firm

AUGUST 7, 2020

While the traditional common law grounds for the appointment of a receiver remain, the Act also offers additional grounds and provides lenders with valuable options to protect their interests in the commercial property, including the right of receivership after judgment. Make a distribution of receivership property. 714.23, Fla.

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Foreclosure Lender Judgment Creditors 98

Troutman Sanders

APRIL 26, 2021

House of Representatives passed seven bipartisan bills introduced by House Financial Services Committee members. The bill would prohibit the use of confessions of judgment in contracts with businesses and would codify existing FTC policy banning such provisions in consumer loan contracts. For more information, click here.

Financial services 52

Financial services Debt collector Loans Banks 52

Troutman Sanders

MARCH 22, 2023

An Illinois federal district court recently denied a creditor-defendant’s motion for summary judgment in a Fair Credit Reporting Act (FCRA) case brought by a consumer who questioned why his debt was being reported twice — as both a tradeline with the original creditor and as a tradeline with a third-party collection agency.

Judgment 52

Judgment Credit Unions Credit Unions Collection Agencies 52

Jimerson Firm

MAY 19, 2021

Although a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Although a lender may not be able to avoid this from happening, it should be aware of how and why their final judgment of foreclosure may be set aside. Why Would a Final Judgment of Foreclosure be Set Aside?

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Consumer Financial Services Law

OCTOBER 31, 2021

As debt collectors make the final push towards implementation, there are crucial conversations debt collectors should be having with creditors to ensure a smooth transition. Moreover, the creditor will need to include with the balance an itemization of the interest, fees, payments, and credits which have accrued since the itemization date.

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Debt collector Creditors Collection Agencies Collections Agency 40

Jimerson Firm

OCTOBER 22, 2020

Then, if necessary, the parties will conduct discovery and the plaintiff will seek to end the lawsuit by filing a motion for summary judgment or setting the case for trial in the event there are factual issues in dispute. Issuance of a Final Judgment of Foreclosure. The Complaint to Foreclose the Mortgage. 2d 409, 410-11 (Fla.

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Foreclosure Lender Judgment Collateral 94

Jimerson Firm

AUGUST 24, 2020

If a defendant fails to appear at the show cause hearing, provide defenses, or show good cause, the court will enter a final judgment of foreclosure. Immediately after the filing of the verified foreclosure complaint, any “lienholder” may request an order to show cause for the entry of final judgment. Request an Order to Show Cause.

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Foreclosure Judgment Law Firms Creditor's Rights 96

Jimerson Firm

FEBRUARY 15, 2021

Before a foreclosing lender can obtain a final judgment of foreclosure at a motion for summary judgment or trial, many courts have created a checklist of documents that must be filed before the hearing/trial date. However, the required documents that must be filed to obtain a final judgment of foreclosure vary in each county.

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Foreclosure Judgment Lender Creditor's Rights 98

Jimerson Firm

NOVEMBER 13, 2020

The court can also order a deficiency judgment against the debtor—that is, a money judgment—to the extent the foreclosure sale does not produce sufficient funds to pay the debt owed to lender on the SBA loan. However, foreclosures (particularly contested foreclosures) can be expensive and less efficient than other liquidation methods.

Loans 98

Loans Collateral Foreclosure Lender 98

Consumer Financial Services Law

MARCH 8, 2018

Dunn A District Court in the Seventh Circuit has held that a debt collector may not avail itself of the § 1692k(c) bona fide error defense if it “intentionally chose to present conflicting information,” even if that conflicting information was provided to it by the creditor. In Garcia v. Miramed Revenue Group, LLC , 2018 U.S. Adjustments $0.00

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Debt collector Creditors Debtor Judgment 40

Consumer Financial Services Law

AUGUST 27, 2019

The bankruptcy court disagreed and granted summary judgment in favor of the mortgage company. In reaching its decision, the Panel noted that the discharge injunction does not prohibit every communication between a creditor and debtor—only those designed to collect, recover or offset any discharged debt as a personal liability of the debtor.

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FFGN COLLECT NY

JANUARY 6, 2023

Putting an end to the use of wage garnishments (income executions) in New York to collect medical judgments. Prohibiting a creditor from entering or enforcing a medical judgment by placing a lien against a debtor’s primary residence. Bill S9348 : Directs the superintendent of financial services to study overdraft fees.

Collections 52

Collections Judgment Garnishment Financial services 52

Jimerson Firm

JANUARY 14, 2021

There are essentially two types of orders to show cause afforded under Section 702.10, to wit: 1) an order requiring all defendants to show cause why a final judgment of foreclosure should not be immediately entered (Section 702.10(1)); 1), directs the defendants to show cause why a foreclosure judgment should not be entered.

Foreclosure 90

Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

JULY 30, 2020

1st DCA 1992) (providing that where the borrower filed for bankruptcy after a default judgment of foreclosure, the lender was able to sever its claim for enforcement of the personal guaranty and pursue the personal guarantor). See, e.g. , Guirlinger v. Goldome Realty Credit Corp., 2d 1135, 1136 (Fla. This prevents a double recovery.

Lender 98

Lender Foreclosure Loans Banks 98

Troutman Sanders

FEBRUARY 10, 2021

Dawson, in the Western District of Arkansas, granted a defendant debt collector’s motion for summary judgment. The court determined Monterey Financial Service LLC’s responses to plaintiff Kyle Steven Johnston’s debt validation request did not constitute harassment and satisfied Monterey’s obligations under the FDCPA.

Judgment 52

Judgment Debt collector Creditors Financial services 52

Jimerson Firm

FEBRUARY 3, 2021

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. If the lender receives a foreclosure judgment from the court, the real property, including the mobile home, will be sold at public auction. Lenders should include a description of the mobile home in the legal description of the real property.

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Jimerson Firm

OCTOBER 9, 2020

Form 1.996(c), Motion to Cancel and Reschedule Foreclosure Sale, was adopted because “many foreclosure sales set by the final judgment and handled by the clerks of court [were] the subject of vague last-minute motions to reset sales without giving any specific information as to why the sale [was] being reset. In re Amendments To The Fla.

Foreclosure 98

Foreclosure Judgment Law Firms Bankruptcy 98

Troutman Sanders

NOVEMBER 1, 2021

LTD Financial Services, L.P. , or more of a debt is forgiven as a result of settling a debt for less than the balance owing, the creditor may be required to report the amount of the debt forgiven to the Internal Revenue Service on a 1099C form, a copy of which would be mailed to you by the creditor. In Bordeaux v.

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Debt settlement Fair Debt Collection Judgment Financial services 52

Jimerson Firm

MAY 30, 2024

This requirement promotes fairness to the debtor and its creditors by ensuring a complete and candid disclosure of assets to the trustee and the creditor body. Creditors should be cognizant that certain powerful defenses can be asserted against a former debtor who failed to disclose its claims in bankruptcy court. Grau , 899 So.

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Debtor Bankruptcy Chapter 7 bankruptcy Creditors 59

Jimerson Firm

MARCH 12, 2021

The recipient clerks will record the decrees in the foreign judgment book. After final disposition of the foreclosure lawsuit, the clerk of the court will prepare and send a certified copy of the decree of foreclosure, sale, and confirmation of sale to the clerk of the circuit court of every county where the mortgaged land is located.

Foreclosure 98

Foreclosure Lender Collateral Loans 98

FFGN COLLECT NY

JANUARY 13, 2021

Other complaints are linked to the lack of or failure to comply with licensing, the theft of monies collected for the benefit of creditors by the collection vendor, and more. The creditor makes a demand but is not paid. Judgment enforcement and more are conducted without state court scrutiny. New York Debt Collection Laws.

Judgment Enforcement 40

Judgment Enforcement Collections Debt collector Law Firms 40

Consumer Financial Services Law

FEBRUARY 1, 2017

1692g by failing to accurately identify the creditor. According to the debtor, the demand letter which simply including the name “Encompass Management Consultants” in the subject line followed by an account number did not expressly state that Encompass was the creditor and moreover, the entity named in the letter did not even exist.

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Debt collector Debtor Creditors Judgment 40

Consumer Financial Services Law

JANUARY 22, 2021

19-357, resolves this split in favor of the creditor. 2009), that a creditor must return a debtor’s vehicle upon the debtor’s filing a petition for bankruptcy in order to comply with the automatic stay. The case, City of Chicago v. Fulton, No. General Motors Acceptance Corp. , 3d 699 (7th Cir. 11 U.S.C. § 11 U.S.C. § Strumpf , 516 U.S.

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Bankruptcy Chapter 13 bankruptcy Construction Debtor 40

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. Therefore, if a final judgment of foreclosure of a mortgage is void, the trial court must vacate the judgment.

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Consumer Financial Services Law

MARCH 23, 2021

District Court for the Eastern District of New York recently denied cross-motions for summary judgment on a debtor’s claim that a law firm’s validation notice constituted a meaningful attorney involvement violation of the FDCPA. By: Landon G. Van Winkle The U.S. Solovyova v. Grossman & Karaszewski PLLC , No. 19-CV-2996, 2021 U.S.

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Collection Industry News

SEPTEMBER 29, 2020

Yesterday, the New York Department of Financial Services (NYDFS) announced that it filed its first enforcement action against a debt collector under New York’s Debt Collection Regulations. CONSUMER-4 also relayed to Respondent that her financial distress was such that she was on the brink of homelessness.

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Debt collector Student Loans Student loans Judgment 40

Burr Forman

JANUARY 29, 2021

Early cases to consider this issue resulted in a grant of summary judgment for the defendant upon a finding that the data was accurately reported according to the CRRG guidelines. Americredit Financial Services, Inc. , Defendant’s Motion for Summary Judgment & Brief in Support at 38-43, Macik , No. In Moulton v.

Judgment 52

Judgment Loans Credit Card Debt Banks 52

Consumer Financial Services Law

OCTOBER 12, 2016

The Eleventh Circuit recently joined the First and Eighth Circuits in concluding that the FDCPA’s venue provision does not apply to post-judgment garnishment proceedings. Post judgment, the law firm filed a garnishment proceeding against the consumer’s bank seeking to collect on the judgment. 1692i(a)(2). 1692i(a)(2).

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Garnishment Law Firms Judgment Debt collector 40

Jimerson Firm

SEPTEMBER 22, 2020

Thus, the trial court did not abuse its discretion by requiring the borrowers to deposit all hotel revenue into the court registry pending final judgment.

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Foreclosure Lender Law Firms Collections 98