payday loans
Question:
i received a payday loan in set and had issues with my bank account and made them aware of it, they then told me it was going to go to collections, a company named i-collect in which i havent received a phone call. now im getting calls from a company named ccrm stating they represent Hawiian midland financial, but they refuse to send a invoice so that i can pay the bill or anything. and when i contact the company i got the loan through they insist they only go through i-collect. i have received nasty voicemails from ccrm stating jail and going to court and i better get a good lawyer. please advise what to do or what is possible, the company dont have a number for me to contact i-collect. i asked how do i pay the loan off if i-collect dont contact and the loan company rep said that she dont know
Answer:
If I were in that kind of situation my first thought would be that they must not want to get paid very badly. It seems logical to think that if they wanted to get paid they would provide me with the address where I could simply send them a U.S. Postal money order by certified mail return receipt requested. That is the only way I would pay them because I know that any debt collector who won't be up front with me would never give me a receipt for my money so I could prove I had paid the debt.
On top of that I would also know that a debt collector who wouldn't give me full contact information and even got so far out of line that they threatened me with jail was a debt collector who obviously wanted me to sue them for those violations of FDCPA and so I would be only too happy to oblige them.
Of course, I would be recording their phone calls and I would have sent them a debt validation letter within 30 days of their initial contact with me. I would be using the list of 18 questions to be found at 18 questions for debt collectors every time they called. They would either answer the questions or I would simply hang up on them. Then if they did send the account to a lawyer I'd sue them again and then send a debt validation letter to the attorney and get ready to start gathering evidence against the lawyer so I could take the lawyer to federal court naming the debt collector as a co-defendant.
I'd also be watching my public record at the courthouse on a daily or weekly basis so I would know when they filed a lawsuit against me and I would respond to their lawsuit before I ever got served by a sheriff. I wouldn't wait to get served.
Now why are you worried about how to pay them when you should be worried about how to make them pay you to go away and leave them alone?
Tuesday, March 10, 2009
Sunday, February 8, 2009
Homebuyers beware.
New Mortgage Guidelines
I don't know how it was before the housing crisis, but what are the current rules when two unmarried people want to buy an apt together (mind you the apt costs as much as some houses), and person A has great credit, and person B has horrible credit? I think they could both have the house in their names/buy the house together before because person A would shoulder the responsibility for person B's credit. But I'm not sure if its that way now. And I dont know if you have to also have liquid capital to boot. Does anybody know.
Quote:
| Originally Posted by greg1045  Nothing dramatically will change. Both applicants' credit reports will be scrutinized, both applicants' wages will be verified. Doesn't ,matter one way or another if the two are married to each other or not. |
Borrowers should steer clear of notes which contain any reference to a company named MERS or Mortgage Electronic Registration Systems. Borrowers are usually told that MERS is nothing but a data base for the storage of notes and mortgages but the truth is that they are also designated as the servicer of the note and ostensibly have the power to foreclose in lieu of the true lender who probably won't be the lender in fact. The final true lender is seldom if ever revealed or even known to the present lender who normally holds the note for a short period of time, often less than a month.
Once a lender has a sufficient number of outstanding notes in hand they are all bundled up and sold to a larger lender while the present lender remains the true servicing agent and the unsuspecting borrower continues to make his payments to the original lender. The note will eventually be sold on the securities and exchange markets to investors world wide who will each buy a tranche (piece of the original loan) Tranches are usually sold in amounts of $25,000 each so that if a note is worth $100,000 there might actually be four investors each owning one tranche. At the time of securitization the note and the mortgage are actually separated.
It is imperative that the borrowers understand as much of the loan process as possible so an attorney who is knowledgeable about notes and mortgages should always be hired to review the paperwork before signing. If at all possible one should hire an attorney who is also a mortgage fraud investigator. I would recommend Norm Bradford of Maryland or Neil Garfield of California. There are many more good ones out there and they are not very difficult to find if one searches for them but the important part is that whomever is hired should be both an attorney and a recognized mortgage fraud investigator. They won't be cheap, usually costing from about $500 to about $1,000 but are well worth it. If that is not affordable then borrowers should be well familiar with such things as the right to recession and the fact that both borrowers must be provided with written notice of their right to rescind the note within 3 days of the signing. If that condition is not met the right to rescind never expires.
Be very, very careful about buying a home at this time. The house you pay $250,000 for today will probably be worth much less than $100,000 next year. The housing bubble has burst and Obama isn't going to fix that. He will only throw more and more money at the problems thereby making the final economic crash much worse than it would have been had he not meddled with it.
Monday, December 22, 2008
Questioner: Lynn
Category: Collections Law
Subject: Medical Bills
Question: I have insurance, but even with 90% of everything covered, ended up owing $1,000.
The hospital is a non-profit, but would not work with me unless I could pay the entire balance off in 6 months or less. (I could not).
So, the bills were turned over to collections. (an Agency in Greeley, CO, who, ironically, has the majority of its clients as non-profit, medical organizations!).
1) Is it true that I, personally, had to agree or sign off on their turning this over to collections, more specifically, to this agency in particular?
2) Is it true the hospital is now likely collecting twice; once in its profit and loss statement, once selling this to Professional Finance?
3) I am really struggling to keep up with the $50 a month they demand; if I am making every effort, being sure to pay something each month, keeping in contact with them,can they still take me to court and garnish my wages?
I did not get sick intentionally. The economy sucks, there have been lay offs at my company, I struggle to keep utilities on, food on the table, a roof over my head. How do these people live with themselves? Must you sell your soul to Satan, to work in collections? Especially for medical bills?
Answer:
click here to enlarge
1) Is it true that I, personally, had to agree or sign off on their turning this over to collections, more specifically, to this agency in particular?
Probably not.
2) Is it true the hospital is now likely collecting twice; once in its profit and loss statement, once selling this to Professional Finance?
I have no knowledge of that subject. Maybe they did and maybe they didn't. Depends on their internal bookkeeping procedures.
3) I am really struggling to keep up with the $50 a month they demand; if I am making every effort, being sure to pay something each month, keeping in contact with them,can they still take me to court and garnish my wages?
Yes, they can and you should believe that they will do that sooner or later and start preparing for it now. Above all, you should never pay another dime to the hospital nor the debt collector and most especially not to the debt collector. Start learning all about FDCPA, FCRA and how to catch debt collectors breaking the law and how to take them to court for their violations. If you do that you can easily end up making them forget about ever collecting a dime and make them pay you instead. My students do it all the time.
I did not get sick intentionally. The economy sucks, there have been lay offs at my company, I struggle to keep utilities on, food on the table, a roof over my head. How do these people live with themselves? Must you sell your soul to Satan, to work in collections? Especially for medical bills?
Sounds logical to me. How do these people live with themselves? Easy! The same way all thugs, corrupt politicians, and other scam artists live with themselves. They convince themselves that what they do is right or at least OK and they can make good money fast and easy. They somehow kid themselves into believing that they won't get caught.
Category: Collections Law
Subject: Medical Bills
Question: I have insurance, but even with 90% of everything covered, ended up owing $1,000.
The hospital is a non-profit, but would not work with me unless I could pay the entire balance off in 6 months or less. (I could not).
So, the bills were turned over to collections. (an Agency in Greeley, CO, who, ironically, has the majority of its clients as non-profit, medical organizations!).
1) Is it true that I, personally, had to agree or sign off on their turning this over to collections, more specifically, to this agency in particular?
2) Is it true the hospital is now likely collecting twice; once in its profit and loss statement, once selling this to Professional Finance?
3) I am really struggling to keep up with the $50 a month they demand; if I am making every effort, being sure to pay something each month, keeping in contact with them,can they still take me to court and garnish my wages?
I did not get sick intentionally. The economy sucks, there have been lay offs at my company, I struggle to keep utilities on, food on the table, a roof over my head. How do these people live with themselves? Must you sell your soul to Satan, to work in collections? Especially for medical bills?
Answer:
click here to enlarge
1) Is it true that I, personally, had to agree or sign off on their turning this over to collections, more specifically, to this agency in particular?
Probably not.
2) Is it true the hospital is now likely collecting twice; once in its profit and loss statement, once selling this to Professional Finance?
I have no knowledge of that subject. Maybe they did and maybe they didn't. Depends on their internal bookkeeping procedures.
3) I am really struggling to keep up with the $50 a month they demand; if I am making every effort, being sure to pay something each month, keeping in contact with them,can they still take me to court and garnish my wages?
Yes, they can and you should believe that they will do that sooner or later and start preparing for it now. Above all, you should never pay another dime to the hospital nor the debt collector and most especially not to the debt collector. Start learning all about FDCPA, FCRA and how to catch debt collectors breaking the law and how to take them to court for their violations. If you do that you can easily end up making them forget about ever collecting a dime and make them pay you instead. My students do it all the time.
I did not get sick intentionally. The economy sucks, there have been lay offs at my company, I struggle to keep utilities on, food on the table, a roof over my head. How do these people live with themselves? Must you sell your soul to Satan, to work in collections? Especially for medical bills?
Sounds logical to me. How do these people live with themselves? Easy! The same way all thugs, corrupt politicians, and other scam artists live with themselves. They convince themselves that what they do is right or at least OK and they can make good money fast and easy. They somehow kid themselves into believing that they won't get caught.
Monday, December 1, 2008
Licensing requirements
Questioner: Katia
Subject: Law Firm Licensing Requirements
Question:
I have a case with a debt collection law firm. The law firm first acted as a collection agency by sending out a dunning letter and then proceeded to file suit after validating. I keep reading according to my state's laws and Federal Law that this firm is acting as a collection agency within the law firm and according to my state's law, the firm must be licensed as a collection agency. My lawyer, however, says I should settle for the full claim (including all fees). If this firm is supposed to be licensed as a collection agency, shouldn't they be unable to collect on this account since they are not licensed?
Answer:
That is a really dumb lawyer you have there. Be that as it may, you need to check with your state consumer protection division but in most states lawyers are specifically excluded from such license requirements. Of course, there is a catch to that because if the law firm is not licensed to practice law in your state then I tend to think they would have to be licensed in your state. More importantly, have they complied with all aspects of FDCPA? Here is a starter list of 15 things that debt collectors cannot do.
__________________________________________________________________
The Fair Debt Collection Practices Act, FDCPA, dictates how debt collectors can act when collecting a debt from you. These are things a debt collector can't do. If you need to reference the law, citations have been provided.
1. Ask you to pay more than you owe
The collector cannot misrepresent the amount you owe. [15 USC 1692e] § 807(2)(a)
2. Ask you to pay interest, fees, or expenses that are not allowed by law. The collector can't add on any extra fees that your original credit or loan agreement doesn't allow. [15 USC 1692f] § 808(1)
3. Call repeatedly or continuously
The FDCPA considers repeat calls as harassment. [15 USC 1692d] § 806(5)
|4. Use obscene, profane, or abusive language
Using this kind of language is considered harassment. [15 USC 1692d] § 806(2)
5. Call before 8:00 am or after 9:00 pm
Calls during these times are considered harassment. [15 USC 1692c] § 805(a)(1)
6. Call at times the collector knew or should know are inconvenient
Calls at these times are considered harassment. [15 USC 1692c] § 805(a)(1)
7. Use or threaten to use violence if you don't pay the debt
Collectors can't threaten violence against you. [15 USC 1692d] § 806(1)
8. Threaten action they cannot or will not take
Collectors can't threaten to sue or file charges against you, garnish wages, take property, cause job loss, or ruin your credit when the collector cannot or does not intend to take the action. [15 USC 1692e] § 807(5)
9. Illegally inform a third party about your alleged debt
Unless you have expressly given permision, collectors are not allowed to inform anyone about your debt except:
* your attorney
* the creditor
* the creditor's attorney
* a credit reporting agency your spouse
* your parent (if you are a minor)
[15 USC 1692c] § 805(b)
10. Repeatedly call a third party to get your location information
The collector can only contact a third party once unless it has reason to believe the information previously provided is false. [15 USC 1692b] § 804(1)
11. Contact you at work knowing your employer doesn't approve
A collector is not allowed to contact you at work if you’ve let them know your employer doesn’t approve of these calls. [15 USC 1692c] § 805(a)(3)
12. Fail to send a written debt validation notice
Within five days of the collector's initial communication, it must send you a notice include the amount of the debt, name of the creditor, and notice of your right to dispute the debt within 30 days. [15 USC 1692g] § 809(a)
13. Ignore your written request to verify the debt and continue to collect
A collector can't continue to collect on a debt after you've made a written request to verify the debt as long as the request was made within 30 days of the collector's written notice. [15 USC 1692g] § 809(b)
14. Continue to collect on the debt before providing verification
After receiving your written dispute, the collector must stop collecting on the debt until you have receieved verification. [15 USC 1692g] § 809(b)
15. Continue collection attempts after receiving a cease communication notice
If you make a written request for the collector to cease communication, it can only contact you one more time, via mail to let you know one of the following: that further efforts to collect the debt are terminated, that certain actions may be taken by the collector, or that the collector is definitely going to take certain actions. [15 USC 1692c] § 805(c)
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
That's a pretty broad list of potential violations and it is virtually impossible for a debt collector (lawyers are 3rd party debt collectors) to collect or attempt to collect a debt without running afoul of the law. When they do break the law the best bet is to take them to federal court where the fact that you owe them money has no bearing on the outcome. You can win the case that way if they broke the law which they most likely did on multiple occasions.
They might very well get a judgment in local court but they will be more than willing to drop that and pay you some good damages, expenses and maybe more to keep from going before a federal judge and jury where they have no chance of winning.
For instance, I have a situation where an elderly lady lost her case in local court then the lawyer attempted to garnish her SSI. They cannot do that according to item #8 so they have probably violated. I say probably because all they have done so far is send her a question sheet wanting to know all about her finances. That in itself is not a violation so she has to wait until they actually make some move to grab SSI money so she can see what they actually try to grab. Asking questions isn't a violation.
They didn't actually threaten to take money from her. While I realize that filing an action against her might seem like a threat to take her SSI they might only put a lien on her property and wait until she passes on. So until they actually make some palpable threat or make a move to go after her SSI money she doesn't have a solid case. At least not on that grounds but she does have a possible cause of action on another grounds. Combine multiple causes of action and then a solid case can be built.
So if you want to win then you need to think in terms of finding their violations and go after them in federal court where you can win.
You don't need a lawyer in either local or federal court and you will never see the inside of a federal courtroom.
Your lawyer says you should just pay up in full? With friends like that who needs enemies? What have you done to respond to the case? Nothing yet? I'm not a lawyer so obviously I can't give you legal advice but I sure know what I would do if I were sued for a debt. First thing I would do is file a denial as my response then I'd prepare my demand for admissions and send both of them to the plaintiff's attorney and we would go from there. You should have done that long ago instead of getting some lawyer who is only going to sell you down the river.
Subject: Law Firm Licensing Requirements
Question:
I have a case with a debt collection law firm. The law firm first acted as a collection agency by sending out a dunning letter and then proceeded to file suit after validating. I keep reading according to my state's laws and Federal Law that this firm is acting as a collection agency within the law firm and according to my state's law, the firm must be licensed as a collection agency. My lawyer, however, says I should settle for the full claim (including all fees). If this firm is supposed to be licensed as a collection agency, shouldn't they be unable to collect on this account since they are not licensed?
Answer:
That is a really dumb lawyer you have there. Be that as it may, you need to check with your state consumer protection division but in most states lawyers are specifically excluded from such license requirements. Of course, there is a catch to that because if the law firm is not licensed to practice law in your state then I tend to think they would have to be licensed in your state. More importantly, have they complied with all aspects of FDCPA? Here is a starter list of 15 things that debt collectors cannot do.
__________________________________________________________________
The Fair Debt Collection Practices Act, FDCPA, dictates how debt collectors can act when collecting a debt from you. These are things a debt collector can't do. If you need to reference the law, citations have been provided.
1. Ask you to pay more than you owe
The collector cannot misrepresent the amount you owe. [15 USC 1692e] § 807(2)(a)
2. Ask you to pay interest, fees, or expenses that are not allowed by law. The collector can't add on any extra fees that your original credit or loan agreement doesn't allow. [15 USC 1692f] § 808(1)
3. Call repeatedly or continuously
The FDCPA considers repeat calls as harassment. [15 USC 1692d] § 806(5)
|4. Use obscene, profane, or abusive language
Using this kind of language is considered harassment. [15 USC 1692d] § 806(2)
5. Call before 8:00 am or after 9:00 pm
Calls during these times are considered harassment. [15 USC 1692c] § 805(a)(1)
6. Call at times the collector knew or should know are inconvenient
Calls at these times are considered harassment. [15 USC 1692c] § 805(a)(1)
7. Use or threaten to use violence if you don't pay the debt
Collectors can't threaten violence against you. [15 USC 1692d] § 806(1)
8. Threaten action they cannot or will not take
Collectors can't threaten to sue or file charges against you, garnish wages, take property, cause job loss, or ruin your credit when the collector cannot or does not intend to take the action. [15 USC 1692e] § 807(5)
9. Illegally inform a third party about your alleged debt
Unless you have expressly given permision, collectors are not allowed to inform anyone about your debt except:
* your attorney
* the creditor
* the creditor's attorney
* a credit reporting agency your spouse
* your parent (if you are a minor)
[15 USC 1692c] § 805(b)
10. Repeatedly call a third party to get your location information
The collector can only contact a third party once unless it has reason to believe the information previously provided is false. [15 USC 1692b] § 804(1)
11. Contact you at work knowing your employer doesn't approve
A collector is not allowed to contact you at work if you’ve let them know your employer doesn’t approve of these calls. [15 USC 1692c] § 805(a)(3)
12. Fail to send a written debt validation notice
Within five days of the collector's initial communication, it must send you a notice include the amount of the debt, name of the creditor, and notice of your right to dispute the debt within 30 days. [15 USC 1692g] § 809(a)
13. Ignore your written request to verify the debt and continue to collect
A collector can't continue to collect on a debt after you've made a written request to verify the debt as long as the request was made within 30 days of the collector's written notice. [15 USC 1692g] § 809(b)
14. Continue to collect on the debt before providing verification
After receiving your written dispute, the collector must stop collecting on the debt until you have receieved verification. [15 USC 1692g] § 809(b)
15. Continue collection attempts after receiving a cease communication notice
If you make a written request for the collector to cease communication, it can only contact you one more time, via mail to let you know one of the following: that further efforts to collect the debt are terminated, that certain actions may be taken by the collector, or that the collector is definitely going to take certain actions. [15 USC 1692c] § 805(c)
++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
That's a pretty broad list of potential violations and it is virtually impossible for a debt collector (lawyers are 3rd party debt collectors) to collect or attempt to collect a debt without running afoul of the law. When they do break the law the best bet is to take them to federal court where the fact that you owe them money has no bearing on the outcome. You can win the case that way if they broke the law which they most likely did on multiple occasions.
They might very well get a judgment in local court but they will be more than willing to drop that and pay you some good damages, expenses and maybe more to keep from going before a federal judge and jury where they have no chance of winning.
For instance, I have a situation where an elderly lady lost her case in local court then the lawyer attempted to garnish her SSI. They cannot do that according to item #8 so they have probably violated. I say probably because all they have done so far is send her a question sheet wanting to know all about her finances. That in itself is not a violation so she has to wait until they actually make some move to grab SSI money so she can see what they actually try to grab. Asking questions isn't a violation.
They didn't actually threaten to take money from her. While I realize that filing an action against her might seem like a threat to take her SSI they might only put a lien on her property and wait until she passes on. So until they actually make some palpable threat or make a move to go after her SSI money she doesn't have a solid case. At least not on that grounds but she does have a possible cause of action on another grounds. Combine multiple causes of action and then a solid case can be built.
So if you want to win then you need to think in terms of finding their violations and go after them in federal court where you can win.
You don't need a lawyer in either local or federal court and you will never see the inside of a federal courtroom.
Your lawyer says you should just pay up in full? With friends like that who needs enemies? What have you done to respond to the case? Nothing yet? I'm not a lawyer so obviously I can't give you legal advice but I sure know what I would do if I were sued for a debt. First thing I would do is file a denial as my response then I'd prepare my demand for admissions and send both of them to the plaintiff's attorney and we would go from there. You should have done that long ago instead of getting some lawyer who is only going to sell you down the river.
Sunday, October 5, 2008
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PMB-11185
428 Childers Street
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Wednesday, October 1, 2008
Court Summons for Credit Card Debt.
Court Summons for Credit Card Debt.
Question:
I live in Florida. The alleged credit card debt was initiated in Massachusetts. My question is; under my credit card agreement under "Applicable Law" This Agreement and your Account will be governed by federal law, and the laws of Arizona, whether or not you live in Arizona and whether or not your Account is used outside of Arizona. You agree that:(1) this Agreement is entered into in Arizona; (2) all credit under this Agreement will be extended from Arizona; and (3) all credit extended under this Agreement is subject to, and governed by, Section 44-1205(C) of Arizona Revised Statutes. All terms and conditions of this Agreement (including Returned Check Charge and Over Limit Change provisions) are deemed to be material to a determination of the finance charge.
My argument would be to dismiss this law suit due to this debt is pass the SOL period. Since Arizona Open accounts is 3 yrs. Do you think this argument will work?
My second argument would be that the debt amount is incorrect and I would then request a original application with my signed signature. I know the amount is incorrect and read some where that it's illegal for them to state an amount this is false; is that true?
My last question is I received another letter from the same Attorney, same Case No. but for a larger amount. Do you think their falsifying their documents?
Thank you so much for your time and any response that you can give me is so much appreciated.
Sincerely,
Guest101
Answer:
Will your SOL argument work? Probably not unless you really know how to make it stick. Most judges simply won't want to hear it first of all because if that argument were to be accepted they would just about have to go to school all over again. It isn't just the SOL argument that can be used against plaintiffs. There are other ramifications and arguments that can be used as well if judges accept that argument. So you are likely to get denied even though there is a fair amount of case law to support your argument. As a result I would guess that you will not only need to know how to argue that point but how to force the judge to accept it whether he wants to or not. Be aware that in order to prevail you may have to take it to the appellate level or even higher. If you are willing to do that then I'd say you have a pretty fair chance. I am aware of an ongoing Florida case that is currently being decided by the judge who took it under advisement and is studying the matter. That person, a student of mine based his argument on another Florida case against Capital One wherein Cap One lost the case argued on the same grounds. The problem is that the first case was also decided in another district court in Florida so it is not a compulsary case.
There is another case that I am aware of that was ruled on in the 10th Circuit court of appeals. That case is not exactly the same but definitely similar and could be cited as well. Once again, however, rulings of the 10th circuit would not be compulsary in your state so all of the cases could only be advisory cases. They might help and they might not. You might very well have to take it all the way to your circuit court of appeals too. I would very deeply appreciate your keeping me abreast of what happens if you do argue it.
Then you ask about getting the original agreement to see if all the charges are allowable under the terms and conditions of the agreement. Another excellent argument that should be vital to the outcome of the case but again you may have to put up a hard fight to get that accomplished.
Are they falsifying their documents to get more money? Most likely they are.
Again, I think your arguments have much merit but trying to get a judge to agree with you isn't likely to be easy unless you know how to argue the case well and be prepared to back it up with further action if things don't go well.
Please keep me posted as your situation progresses.
Question:
I live in Florida. The alleged credit card debt was initiated in Massachusetts. My question is; under my credit card agreement under "Applicable Law" This Agreement and your Account will be governed by federal law, and the laws of Arizona, whether or not you live in Arizona and whether or not your Account is used outside of Arizona. You agree that:(1) this Agreement is entered into in Arizona; (2) all credit under this Agreement will be extended from Arizona; and (3) all credit extended under this Agreement is subject to, and governed by, Section 44-1205(C) of Arizona Revised Statutes. All terms and conditions of this Agreement (including Returned Check Charge and Over Limit Change provisions) are deemed to be material to a determination of the finance charge.
My argument would be to dismiss this law suit due to this debt is pass the SOL period. Since Arizona Open accounts is 3 yrs. Do you think this argument will work?
My second argument would be that the debt amount is incorrect and I would then request a original application with my signed signature. I know the amount is incorrect and read some where that it's illegal for them to state an amount this is false; is that true?
My last question is I received another letter from the same Attorney, same Case No. but for a larger amount. Do you think their falsifying their documents?
Thank you so much for your time and any response that you can give me is so much appreciated.
Sincerely,
Guest101
Answer:
Will your SOL argument work? Probably not unless you really know how to make it stick. Most judges simply won't want to hear it first of all because if that argument were to be accepted they would just about have to go to school all over again. It isn't just the SOL argument that can be used against plaintiffs. There are other ramifications and arguments that can be used as well if judges accept that argument. So you are likely to get denied even though there is a fair amount of case law to support your argument. As a result I would guess that you will not only need to know how to argue that point but how to force the judge to accept it whether he wants to or not. Be aware that in order to prevail you may have to take it to the appellate level or even higher. If you are willing to do that then I'd say you have a pretty fair chance. I am aware of an ongoing Florida case that is currently being decided by the judge who took it under advisement and is studying the matter. That person, a student of mine based his argument on another Florida case against Capital One wherein Cap One lost the case argued on the same grounds. The problem is that the first case was also decided in another district court in Florida so it is not a compulsary case.
There is another case that I am aware of that was ruled on in the 10th Circuit court of appeals. That case is not exactly the same but definitely similar and could be cited as well. Once again, however, rulings of the 10th circuit would not be compulsary in your state so all of the cases could only be advisory cases. They might help and they might not. You might very well have to take it all the way to your circuit court of appeals too. I would very deeply appreciate your keeping me abreast of what happens if you do argue it.
Then you ask about getting the original agreement to see if all the charges are allowable under the terms and conditions of the agreement. Another excellent argument that should be vital to the outcome of the case but again you may have to put up a hard fight to get that accomplished.
Are they falsifying their documents to get more money? Most likely they are.
Again, I think your arguments have much merit but trying to get a judge to agree with you isn't likely to be easy unless you know how to argue the case well and be prepared to back it up with further action if things don't go well.
Please keep me posted as your situation progresses.
Thursday, September 25, 2008
Facing foreclosure in Oklahoma
Question: Hello, I got information today from a home investor that LB&N had some type of lien or had attached an $8000.00 dept to my home, I am trying to avoid foreclosure, and am trying to sell fast, as I also have a new job which will have me out of state for 4 weeks starting the 5th of OCT. Any way that $8000.00 would come out of the price I do get for the house, problem is I am getting less than that after pay off.
I have not received any certified mail regarding this, and the last piece of mail I did receive was back in 2002 or 2003, it was for a repossessed car in 2002. I want to call this place tomorrow and ask if they will take less, but after google searching their name to get a phone number and running across nothing but the words "scam" "rip off" and many other negative reports filling the entire first page of the search window I am a bit hesitant. Please I need good advice.
Answer:
creditwrench
I certainly would advise against contacting LBN in any way because judgments have a 5 year statute of limitations in Oklahoma. If there has been no collection activity for 5 years after the judgment as entered against you then there is no judgment against you. It is null and void and unenforceable. The fact of the lien may make that a different story but although I don't know what the length of time a lien can remain on a property may be in Oklahoma I think there is a limit on that too. You can do your research on Oklahoma liens here --
Oklahoma Statute on Liens
I would be very hesitant to label LBN as some websites may have done. They hardly fall under the scam classification regardless of what many of their victims may say about them. While indeed they are one of Oklahoma's most aggressive law firms that fact does not make them scam artists by any means.
You say you are trying to avoid foreclosure by selling the home before it happens? That isn't going to be easy to say the least. If you are going to get less than you owe out of the home then the lender isn't going to let the sale go through. Seems you have some real problems going on and you are going to need some real help if you can't pull out of the foreclosure situation by bringing the not up to date or working something out with the servicer.
Who is the purported lender in your case? The reason I say "purported" lender is that as you may well know by now is that the note may have been sold on the securities and exchange market.
You not only need to get busy trying to get those payments up to date or doing something but you also need to get up to speed on the mortgage meltdown situation and how that works.
The problem also is that while the proposed massive cash influx into the financial arena may shore things up for a while the crash that the politicians are currently trying to stave off isn't likely to work and the economy will crash no matter what they do. If the American economy crashes it will probably make such a huge impact on the entire world that other countries will also see their economies crash setting off a global depression the likes of which are almost unimaginable.
It also is not an economic crisis it is also a worldwide food shortage that confronts us at the same time. Although most don't understand the full scope of the world's problems today I think they will soon enough and the tasting of it will not be good for anybody.
I've been predicting the oncoming crash for the last two years now. The pinch was actually starting to be felt a year ago in July and maybe even before that. What congress is now proposing as a cure is nothing more than a small bandaid on a gaping wound. Secretary Henry Paulson recently stated that if they don't get this legislation passed in a hurry the situation will soon escalate to the point where companies cannot even pay their employees and will have to close their doors. I predict that is going to happen no matter what they do because it will become a chain reaction. Defaults on credit card debt and automobile loans are escalating rapidly as well. When it is all said and done there won't be enough money in all the world to contain the mess.
I know you don't want to hear that there may well be no escaping the foreclosure but I would start thinking in those terms while doing all you can to keep it from happening. I'd starto learning how to fight the foreclosure before it starts happening. As soon as it does you will start getting letters from scam artists telling you that they can save your home from foreclosure with their so called mortgage fraud programs and mythical attorneys who will go to court and fight for you. I know of most if not all of those scam artists here in Oklahoma. I'm working with some of the victims of those scams now.
What happens is that the scammers will have you sign a response to the summons and complaint that looks like it really ought to get the job done but is actually nothing but legal gobble-de-gook that will get you nowhere yet cost you another bundle of money. They will be talking about such foolish ideas as accord & satisfaction, contributory negligence, duress, Estoppel, Fraud, illegality, laches, waiver and regaling you with tales about how their mortgage fraud investigators will scrutinize your mortgage and find all the fraud and RESPA violations so you can sue the lender for those violations.
They may very well include a long list of interrogatories, demand for admissions and production of documents and the whole thing will look very legitimate. When the attorney returns with a laundry list of cut and past objections they may even be smart enough to file a motion to compel the plaintiff to comply with those demands but when the attorney comes back with an objection your scammer runs out of bullets to fire back with and suddenly they lose interest in your case and you are left hanging out to dry but the attorney is still full of fight.
The response that the scammers are now providing also include a laundry list of complaints that they file in a counter claim. Most of those counter claims might very well be valid complaints but the proper place to file them is not in local court as a counter claim but in a federal case against the lender. Local judges don't want to hear all that stuff because they are far to busy to go into the lengthy trials that would ensue if they paid them any attention. Their remedy is to simply dismiss your counter claims no matter how valid they may be and move on to give judgment to the plaintiff and you lose. Of course you lose your property and all the money you invested in that but you lose any money you paid the scammers as well.
The next problem you face is that since you didn't know how bad the scammer's supposed magical cure really is you also can't hire an attorney because you aren't equipped to know whether they are any better than the scammers plus they will cost you much more money than the scammers will. One is as bad as the other.
There is a good possibility that you will be facing LBN all over again or if not them then Baer, Timberlake & company. Between the two of them they probably do the majority of foreclosures in Oklahoma.
Of course, I don't know what county you live in but if you live in Oklahoma County I know most of the judges although not personally but I do know what they are like and how they treat defendants. Most are about as friendly as a pack of wolves on a dark and wintery night.
You might want to call in to my Friday night conference call which starts at 7:00 P.M. central time. The number for that is 712-432-1601 and the pin number is 508548#. You might also want to call in to my Monday night Radio talk show. The number for that is (914) 803-4464 The show starts at 10:00 P.M. central time.
I have not received any certified mail regarding this, and the last piece of mail I did receive was back in 2002 or 2003, it was for a repossessed car in 2002. I want to call this place tomorrow and ask if they will take less, but after google searching their name to get a phone number and running across nothing but the words "scam" "rip off" and many other negative reports filling the entire first page of the search window I am a bit hesitant. Please I need good advice.
Answer:
creditwrench
I certainly would advise against contacting LBN in any way because judgments have a 5 year statute of limitations in Oklahoma. If there has been no collection activity for 5 years after the judgment as entered against you then there is no judgment against you. It is null and void and unenforceable. The fact of the lien may make that a different story but although I don't know what the length of time a lien can remain on a property may be in Oklahoma I think there is a limit on that too. You can do your research on Oklahoma liens here --
Oklahoma Statute on Liens
I would be very hesitant to label LBN as some websites may have done. They hardly fall under the scam classification regardless of what many of their victims may say about them. While indeed they are one of Oklahoma's most aggressive law firms that fact does not make them scam artists by any means.
You say you are trying to avoid foreclosure by selling the home before it happens? That isn't going to be easy to say the least. If you are going to get less than you owe out of the home then the lender isn't going to let the sale go through. Seems you have some real problems going on and you are going to need some real help if you can't pull out of the foreclosure situation by bringing the not up to date or working something out with the servicer.
Who is the purported lender in your case? The reason I say "purported" lender is that as you may well know by now is that the note may have been sold on the securities and exchange market.
You not only need to get busy trying to get those payments up to date or doing something but you also need to get up to speed on the mortgage meltdown situation and how that works.
The problem also is that while the proposed massive cash influx into the financial arena may shore things up for a while the crash that the politicians are currently trying to stave off isn't likely to work and the economy will crash no matter what they do. If the American economy crashes it will probably make such a huge impact on the entire world that other countries will also see their economies crash setting off a global depression the likes of which are almost unimaginable.
It also is not an economic crisis it is also a worldwide food shortage that confronts us at the same time. Although most don't understand the full scope of the world's problems today I think they will soon enough and the tasting of it will not be good for anybody.
I've been predicting the oncoming crash for the last two years now. The pinch was actually starting to be felt a year ago in July and maybe even before that. What congress is now proposing as a cure is nothing more than a small bandaid on a gaping wound. Secretary Henry Paulson recently stated that if they don't get this legislation passed in a hurry the situation will soon escalate to the point where companies cannot even pay their employees and will have to close their doors. I predict that is going to happen no matter what they do because it will become a chain reaction. Defaults on credit card debt and automobile loans are escalating rapidly as well. When it is all said and done there won't be enough money in all the world to contain the mess.
I know you don't want to hear that there may well be no escaping the foreclosure but I would start thinking in those terms while doing all you can to keep it from happening. I'd starto learning how to fight the foreclosure before it starts happening. As soon as it does you will start getting letters from scam artists telling you that they can save your home from foreclosure with their so called mortgage fraud programs and mythical attorneys who will go to court and fight for you. I know of most if not all of those scam artists here in Oklahoma. I'm working with some of the victims of those scams now.
What happens is that the scammers will have you sign a response to the summons and complaint that looks like it really ought to get the job done but is actually nothing but legal gobble-de-gook that will get you nowhere yet cost you another bundle of money. They will be talking about such foolish ideas as accord & satisfaction, contributory negligence, duress, Estoppel, Fraud, illegality, laches, waiver and regaling you with tales about how their mortgage fraud investigators will scrutinize your mortgage and find all the fraud and RESPA violations so you can sue the lender for those violations.
They may very well include a long list of interrogatories, demand for admissions and production of documents and the whole thing will look very legitimate. When the attorney returns with a laundry list of cut and past objections they may even be smart enough to file a motion to compel the plaintiff to comply with those demands but when the attorney comes back with an objection your scammer runs out of bullets to fire back with and suddenly they lose interest in your case and you are left hanging out to dry but the attorney is still full of fight.
The response that the scammers are now providing also include a laundry list of complaints that they file in a counter claim. Most of those counter claims might very well be valid complaints but the proper place to file them is not in local court as a counter claim but in a federal case against the lender. Local judges don't want to hear all that stuff because they are far to busy to go into the lengthy trials that would ensue if they paid them any attention. Their remedy is to simply dismiss your counter claims no matter how valid they may be and move on to give judgment to the plaintiff and you lose. Of course you lose your property and all the money you invested in that but you lose any money you paid the scammers as well.
The next problem you face is that since you didn't know how bad the scammer's supposed magical cure really is you also can't hire an attorney because you aren't equipped to know whether they are any better than the scammers plus they will cost you much more money than the scammers will. One is as bad as the other.
There is a good possibility that you will be facing LBN all over again or if not them then Baer, Timberlake & company. Between the two of them they probably do the majority of foreclosures in Oklahoma.
Of course, I don't know what county you live in but if you live in Oklahoma County I know most of the judges although not personally but I do know what they are like and how they treat defendants. Most are about as friendly as a pack of wolves on a dark and wintery night.
You might want to call in to my Friday night conference call which starts at 7:00 P.M. central time. The number for that is 712-432-1601 and the pin number is 508548#. You might also want to call in to my Monday night Radio talk show. The number for that is (914) 803-4464 The show starts at 10:00 P.M. central time.
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