Tag Archives: Chapter 13
Trustee retroactively adjusts Chapter 13 payments
Florida residents might like to know about the events in Texas that led to a court decision stating that a bankruptcy trustee cannot retroactively adjust Chapter 13 payment plans for home-mortgage claims. In 25 cases, one trustee adjusted confirmed plan payments to retroactively accommodate home-mortgage claims filed after repayment plans were approved. The court… Read More »
Multiple kinds of debt from bankruptcy perspective
Florida residents who are considering filing for bankruptcy might like to know more about what happens to their debts through this process. How they are handled depend upon their classification and the particular bankruptcy chapter that is being used. From a bankruptcy perspective, creditors fall into three classes: priority, secured and unsecured. Priority debts… Read More »
Collection agencies employ more sophisticated techniques
Florida consumers who are struggling with their financial obligations might also be dealing with new and intrusive tactics by collection agencies. For example, there are regulations that prevent collectors from calling repeatedly, but new technology allows them to leave direct voice mails without the phone ringing. Consumer advocates say they are trying to sidestep… Read More »
Lender must pay millions in wrongful foreclosure case
Florida consumers might expect that when they file for bankruptcy, all creditors are supposed to stop any proceedings against them. When a lender in California went ahead with foreclosure proceedings even after a couple filed for Chapter 13 bankruptcy, it was sued and ordered to pay more than $45 million in damages. The case… Read More »
Some consumers harassed over medical debt
The second-largest number of complaints about collection agencies violating the Fair Debt Collection Practices Act comes from Florida, and in many cases, those debts are medical debts. Some collection agencies use prohibited practices like calling repeatedly, calling employers or threatening consumers. In other cases, the debts do not even belong to the people who… Read More »
How a personal bankruptcy affects credit scores
Florida residents who are struggling to cope with overwhelming debt are often reluctant to file for bankruptcy for several reasons. Many fail to pursue this form of debt relief because they believe that filing under Chapter 7 or Chapter 13 will irreparably damage their credit ratings, but a discharged personal bankruptcy can sometimes make… Read More »
Debt collectors often resort to coercion
There are more than 6,000 debt collection companies around the country, and they contacted about 70 million consumers about allegedly unpaid bills in 2016, according to a survey conducted by the Consumer Financial Protection Bureau. Debt collectors most often contact consumers in Florida and elswewhere regarding credit card or medical debt, and an alarming… Read More »
Bank argues that it is not subject to the FDCPA
In Florida and across the U.S., debt collectors and creditors are required to follow different procedures when they are attempting to collect debts that are owed. The practices of debt collectors are stringently regulated under the Fair Debt Collection Practices Act. By contrast, creditors who originate their own loans are able to collect on… Read More »
About medical debt collection practices
Every year, millions of people in Florida and throughout the nation who have debt related to medical expenses get contacted by debt collectors. Aggressive collection tactics are routinely used by the debt collectors, many of whom try to collect payments from the wrong customers. Based on the 17,701 complaints that have been submitted to… Read More »
Credit use climbs in Florida
A report from the Federal Reserve indicates that the total amount of consumer credit reached $15.2 billion in February 2017. This represents a growth rate of 4.8 percent, and it pushed total use of credit cards over $1 trillion. Revolving credit, which includes credit cards, grew at an annual rate of 3.5 percent. This… Read More »