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How to Get a Deficiency Judgment After a Foreclosure Sale

Jimerson Firm

When a lender obtains a final judgment of foreclosure from the court, the mortgaged property is sold at public auction and, if bought by someone other than the foreclosing lender, the proceeds are applied to the debt owed by the delinquent borrower. Compass Bank , 164 So. Procedure For Getting a Deficiency Judgment. 702.06, Fla.

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Does Bankruptcy Clear Lawsuit Debt?

Sawin & Shea

Judgment creditors can actually take money right out of your bank account, garnish wages from your paycheck, and put a lien on your real estate in order to collect what you owe. House foreclosure. If you don’t repay it, it’s their right to seize the real estate through a foreclosure action.

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What is an Emergency Bankruptcy Filing?

Sawin & Shea

If you’re in an emergency situation such as wage garnishment, eviction, or pending repossession filing an emergency bankruptcy may be right for you. Those filing an emergency bankruptcy receive an automatic stay even before completing certain documents. An automatic stay is an injunction prohibiting creditors from collecting debts.

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Dealing With Debt From COVID-19

Debt Free Colorado

You can work directly with the mortgage lender on a loan modification, or reach out to the Colorado Foreclosure Hotline for free assistance. Guide to Coronavirus Mortgage Relief Options. Credit Cards. If you own a home the consequences of a judgment against you are more significant as judgment creditors can place liens against your home.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. On March 17, Virginia Attorney General Mark Herring announced a new law preventing garnishment or seizure of economic support payments.

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Domesticating and Enforcing Your Foreign Judgments With a Massachusetts Collections Attorney

Collections Law

Pre-judgment attachments such as bank attachments, real estate attachments and reach and apply attachments, to name but a few, are equally available even before you have a judgment. If the court decides not to allow ex parte attachment of the debtor’s bank account, we then seek to attach their accounts with notice.

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CFPB Issues COVID-19 Special Edition Supervisory Highlights

Collection Industry News

Consumer risks included delays in processing suspensions of administrative wage garnishments, potential FDCPA compliance risks associated with new bank attachments or wage garnishments, and delays in payment processing. insufficient loss mitigation processes.