Collection Industry News

OCTOBER 22, 2020

UNIVERSITY PARK, FL] National Creditors Bar Association (NCBA) presented its 2020 awards and scholarships this week at the NCBA 2020 Executive Experience event in Phoenix, Arizona. Outstanding SCBA Award: Michigan Creditors Bar Association. NCBA presented the 2020 Outstanding SCBA Award to the Michigan Creditors Bar Association (MCBA).

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The McHughes Law Firm

OCTOBER 21, 2020

Branding Arc is proud to be a sponsor of this year’s National Creditors Bar Association (NCBA) 2020 Executive Experience that will take place on October 21-23 in Phoenix. In his presentation, he will review the essential building blocks for creating positive brand messaging specifically in the creditor’s rights space.

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Jimerson Firm

NOVEMBER 23, 2020

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.

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The Creditors Rights

JUNE 21, 2016

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. Husky sued Ritz under a Texas statute which allows creditors to hold shareholders responsible for corporate debts under circumstances involving actual fraud.

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Sawin & Shea

NOVEMBER 15, 2023

If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).

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Consumer Financial Services Law

DECEMBER 29, 2016

Editor’s Note: On November 3, 2016, Smith Debnam’s Jerry Myers attended a meeting with the CFPB to discuss the proposed rules for third party debt collection. On Thursday November 3, 2016 I joined a group of colleagues for a meeting with the CFPB to discuss its proposed rules for third party debt collection.

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Jimerson Firm

JANUARY 27, 2021

The compromise amount must bear a reasonable relationship to the amount that could be recovered in a reasonable amount of time through enforced collection proceedings, and it must be sufficient to protect the integrity of the SBA program. illness), paying it would cause financial hardship. (4) SOP 50 57 ; SOP 50 55. SOP 50 57 ; SOP 50 55.

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FDCPA Defense

APRIL 17, 2019

Although this scenario may sound far-fetched, it is an everyday occurrence for creditors’ rights attorneys, who have been targeted by “meaningful attorney involvement” lawsuits for years. The CFPB is expected to announce proposed debt collection rules in the near future that may incorporate the theory. 1692, et seq. In Clomon v.

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Lawyers Creditor's Rights Law Firms Creditors 40

The Creditors Rights

AUGUST 2, 2016

In 2014 the Eleventh Circuit held that a debt collector violates the Fair Debt Collections Practices Act when it filed a proof of claim in a chapter 13 case on a debt that it knows to be time-barred. 1692f, to collect a debt. Crawford v. LVNV Funding, LLC , 758 F.3d 3d 1254 (11 th Circ. Travelers Cas. & Gas & Elec. 443 (2007).

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Collection Industry News

APRIL 8, 2021

Wednesday, April 7, 2021-Chicago- Commercial Collection Agencies of America is proud to announce the appointment of Mr. Kurt Albright to the Independent Standards Board effective immediately. Albright, Senior Advisor of Credit & Collections at Uline, Inc. Albright was recently approved by his Standards Board peers. “We

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Commercial Collection Collection Agencies Collections Agency Accounts Receivables Management 52

Jimerson Firm

AUGUST 7, 2020

sell, lease, license, exchange, collect, or otherwise dispose of receivership property.” § 714.02(14), A receiver is defined in the Act as a “person appointed by the court as the court’s agent, and subject to the court’s direction, to take possession of, manage, and, if authorized. Receivers have broad duties and powers under section 714.12

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Jimerson Firm

NOVEMBER 13, 2020

Lenders must give careful consideration on choosing this method because it may (unless otherwise negotiated in the written agreement) lose the right to collect any deficiency, and the property will remain subject to any existing liens. However, lenders should only use this option if it maximizes recovery on the SBA loan.

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Consumer Financial Services Law

AUGUST 30, 2016

Professional firms in all industries saw a new “normal” come to life and creditors rights attorneys and their firms were no exception. About the Author: Mark Dobosz currently serves as the Executive Director for NARCA – The National Creditors Bar Association. NARCA's values are: Professional, Ethical, Responsible.

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Financial Forensic Services

SEPTEMBER 19, 2021

80 percent of the civil money judgments in the United States are never collected. People or businesses file civil lawsuits because they’ve been damaged, and they’re entitled to recover their losses, plus interest, legal fees, and often are entitled to recover other costs of collection. Dickerson, CFE. This begs the question: Why?

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FDCPA Defense

JANUARY 8, 2020

If a law firm sends a letter seeking to collect the correct amount, from the correct consumer, on behalf of the correct creditor, can the consumer still sue, claiming the firm violated the FDCPA because no attorney was “meaningfully involved” in preparing the letter? The Sixth Circuit recently held the answer is “no” in Buchholz v.

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Consumer Financial Services Law

APRIL 10, 2018

Specifically, Plaintiff (the consumer) found issue with the following language in Defendant’s (the debt collection agency) form collection letter: “These settlement offers may have tax consequences. A collection letter “can be deceptive if [it is] open to more than one reasonable interpretation, at least one of which is inaccurate.”

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Collections Debt collector Creditor's Rights Law Firms 40

Jimerson Firm

JULY 30, 2020

Therefore, if the written guaranty limits the liability of the guarantor to a sum certain, unless otherwise set forth in the guaranty, the sum certain in the guaranty represents the guarantor’s aggregate liability and is not offset by the debtor’s payments to the creditor. In Kim , a guarantor provided a guaranty limited in amount to $3.8

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Jimerson Firm

JANUARY 28, 2021

Collecting the Deficiency Judgment. When the lender receives a deficiency judgment from the court, it can proceed to collect on that judgment against the borrower using conventional collection methods. MDC 5, LLC , 204 So. 3d 116, 118 (Fla.

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Jimerson Firm

SEPTEMBER 22, 2020

Additionally, during a foreclosure action, the lender/mortgagee can request the borrower/mortgagor to deposit the collected rents into the registry of the court or in such other depository as designated by the court. §697.07(4). Losing the Right to Collect Rents: Junior Foreclosure Sales.

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Foreclosure Lender Law Firms Collections 98

Jimerson Firm

FEBRUARY 3, 2021

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. In this case, the mobile home will become part of the foreclosure of the real property. Lenders should include a description of the mobile home in the legal description of the real property.

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Foreclosure Collateral Lender Repossession 96

Jimerson Firm

JANUARY 17, 2023

8, 2016) (collecting cases), report and recommendation adopted , No. Lopez-Silvero , 827 So. 2d 338, 339 (Fla. 3d at 634 (finding party who did not sign agreement “clearly accepted the proposal by its actions, i.e. paying the initial $5,000 deposit and the two subsequently invoiced $15,000 payments”); see also Sundial Partners, Inc.

Construction 52

Construction Creditor's Rights Government Commercial Collection 52

Jimerson Firm

JULY 15, 2020

Additionally, if there is an acceleration clause in the lease agreement, the landlord cannot double-dip by collecting accelerated rent from the prior tenant while reletting the premises to a new tenant for the remainder of the lease term and retaining all rental proceeds. See Horizon Med.

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Judgment Law Firms Creditor's Rights Loans 86

Jimerson Firm

DECEMBER 30, 2020

During workout agreement negotiations, there are many workout options that the lender/CDC and borrower can consider.

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Loans Collateral Lender Foreclosure 98

Jimerson Firm

MAY 24, 2021

The person who bought the certificate will have the right to collect the tax debt from the property owner, plus interest. Next, on the sale date, the tax collector will sell a tax certificate for the amount of taxes due. 197.432.

Collateral 52

Collateral Lender Foreclosure Judgment 52

Jimerson Firm

MARCH 12, 2021

In Florida, foreclosure actions must be brought in the county where the land is located. This is typically referred to as the “local action rule.” However, lenders often wonder where they should file the foreclosure action if the loan is secured by mortgaged land situated in different counties.

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Foreclosure Lender Collateral Loans 98

Jimerson Firm

FEBRUARY 18, 2021

However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Florida’s Construction Lien Law found in Chapter 713, Florida Statutes, may seem like an area of the law that is only relevant to contractors and property owners.

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Construction Lender Loans Banks 98

Jimerson Firm

FEBRUARY 15, 2021

In Florida, mortgage foreclosure lawsuits are filed in the county where the property is located. Although Florida foreclosures are governed by Chapter 702 of the Florida Statutes , foreclosing lenders must also check the local rules of the court where the lawsuit is filed to make sure that they comply with any additional requirements.

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Foreclosure Judgment Lender Government 98

Jimerson Firm

DECEMBER 15, 2020

As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action. Additionally, as briefly discussed in part 5 of this series, during the foreclosure action, lenders have options to try to preserve the value of the underlying collateral and to minimize further losses.

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Foreclosure Lender Banks Collateral 98

Jimerson Firm

DECEMBER 8, 2020

The Florida Supreme Court has published the proper form to use when seeking a final judgment of foreclosure: Form 1.996(a), Final Judgment of Foreclosure (8-18-20). Form 1.996(a) is incorporated in the Florida Rules of Civil Procedure under Rule 1.900.

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Foreclosure Judgment Law Firms Creditor's Rights 98

Jimerson Firm

OCTOBER 9, 2020

In 2010, the Florida Supreme Court approved an amendment to the Florida Rules of Civil Procedure regarding mortgage foreclosures and enacted new forms, such as Form 1.996(b), Motion to Cancel and Reschedule Foreclosure Sale. In 2014, the Florida Supreme Court renumbered this form to the current Form 1.996(c) (2019).

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Foreclosure Judgment Law Firms Bankruptcy 98

Jimerson Firm

SEPTEMBER 28, 2020

A residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. All named defendants will need to be notified of the lawsuit by being served process with a copy of the complaint and a summons. The defendants may be served by personal service or substituted service.

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Foreclosure Construction Judgment Lender 98

Jimerson Firm

JANUARY 14, 2021

The first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action. The second-half of this series has evaluated available options to lenders during the pendency of the foreclosure action.

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Foreclosure Lender Judgment Law Firms 90

Jimerson Firm

OCTOBER 22, 2020

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Parts 1-4 of this series discussed pre-foreclosure options available to lenders dealing with hotel/restaurant mortgage defaults.

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Foreclosure Lender Judgment Collateral 94

Jimerson Firm

JANUARY 18, 2023

The Telephone Consumer Protection Act (“TCPA”) contains strict provisions to ensure that businesses are not abusing that technology and harming consumers with harassing telemarketing calls and texts.

Creditor's Rights 52

Creditor's Rights Commercial Collection Creditors Collections 52

Jimerson Firm

AUGUST 24, 2020

Since 2013, residential foreclosure actions in Florida have been significantly shortened—from over two (2) years to possibly less than six (6) months—because of the new “fast-track” process provided in section 702.10, Florida Statutes.

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Foreclosure Judgment Law Firms Creditor's Rights 96

Jimerson Firm

JANUARY 18, 2023

As technology advances, businesses have more options to employ big data and implement lost-cost marketing strategies in reaching customers and generating revenues.

Trade 52

Trade Creditor's Rights Commercial Collection Creditors 52

Jimerson Firm

JANUARY 20, 2021

In response to the mortgage foreclosure crisis, the Supreme Court of Florida established a statewide mandatory mediation program for residential mortgage foreclosures. Due to the mandatory mediation program being largely unsuccessful, the Supreme Court of Florida terminated the program on December 19, 2011. 44.102(2)(b), Fla.

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