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June 2017 Archives

Man detained pending charges of foreclosure, bankruptcy fraud

One man was arrested this month and ordered to be detained on claims that he ran a scheme that targeted those who were trying to avoid losing their homes. The foreclosure avoidance scheme is reported to have earned the man $7 million from homeowners who were already in grave financial shape. He is being held pending federal charges. Homeowners living in Florida who are in danger of losing their homes to foreclosure should take care to avoid schemes like this one.

Avoiding a debt collector scam

While creditor harassment is a big issue in the U.S. scams are also a source of strife among those in this country. In fact, debt collector scams are said to be one of the most common types. It is bad enough to be harassed about a debt that one owes, but even worse when the debt does not even exist. So what can those living in Florida do to avoid debt collection scams?

Bank accused of illegally changing mortgages to stop foreclosure

After the scandal that rocked Wells Fargo last year, one might think that the company's officials would be careful to make sure that all of their activities were legitimate. With that said, it seems a bit unbelievable that they are now being accused of making changes that were unauthorized to the home loans of customers that are in bankruptcy and trying to stop a foreclosure. Before allowing any changes to their mortgages, Florida customers may want to seek the advice of an attorney or at least read the fine print.

Car exemption: How to keep your car during bankruptcy

One of the questions that people often ask about bankruptcy and filing Chapter 7 is whether they will be able to keep their car. The car exemption is especially important to those who have paid their auto loan off and owe nothing on the vehicle. Many Florida residents want to know if they can pay the trustee and keep the car since it is often the only form of transportation that they own.

Creditor harassment earns man 78 months in prison

One man was sentenced to 78 months in prison recently after he was found guilty of preying on those who were behind on payments. Not only did the man's collection agency target those who owed money, but he sometimes went after those who did not even have a real debt. In Florida, as in other states, the Fair Debt Collection Practices Act protects those who are in debt from this type of creditor harassment.

Fay Servicing fined $1M for illegal foreclosure practices

Fay Servicing has been fined over a million dollars for what the Consumer Financial Protection Bureau calls illegal foreclosure practices. During the investigation, it was discovered that the servicing agency was not upfront with its clients about the choices that they had to prevent foreclosure. Fay was found to have been moving forward with foreclosures against borrowers who were looking for help in saving their homes. Servicing agencies such as Fay work with clients in Florida and all over the country.

What can be done when a debt collector crosses the line?

One of the most stressful times in an adult's life is when he or she falls behind on bills. The constant calls and threatening letters from a debt collector can add heavy amounts of pressure to an already scary situation. One of the most potent weapons against fear is knowledge. The best thing for anyone in Florida or other states to do is to be aware of what a debt collector can do, and what he or she cannot do.

Chapter 13 bankruptcy and when to file

For many, it is hard to understand exactly what bankruptcy is and how it can benefit them. Filing Chapter 13 bankruptcy, for example, is a way for a person to gain control of his or her finances without having to give up everything that he or she owns. With this type of bankruptcy, a person will only have to make one payment per month to a trustee. The trustee is then responsible for paying each of that person's creditors. Many Florida residents choose this method to catch up on their bills.

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