Debt Collectors Misled Borrowers

On September 6, 2012, in Debt collection defense, by Jason Mays, Esq.

Debt Collectors Misled Borrowers

Court Finds that Debt Collectors Misled Borrowers

A debt collection agency recently sent a letter to borrowers telling them that their student loan debts could not be discharged in bankruptcy, and must be paid. The truth is, student loans CAN sometimes be discharged in bankruptcy, although it is uncommon. Read more about this topic here.

Debt collectors misled borrowers often, judging from the number of successful Fair Debt Collection Practices lawsuits against them. If you have been harassed, lied to, contacted at unusual hours, or otherwise abused by debt collectors, you may be entitled to compensation.

Long Island Litigation Attorneys

The attorneys at The Law Firm of Vaughn, Weber & Prakope, PLLC can help in these matters.  Call (516) 858-2620 today for a free consultation!

Aggressive Debt Collectors

On September 6, 2012, in Debt collection defense, by Jason Mays, Esq.

Aggressive Debt Collectors

This article seems to suggest that they are. Although this is bad news for borrowers, the law, fortunately, protects borrowers from overly aggressive debt collectors. Debt collectors that harass borrowers, contact borrowers at odd hours, or contact borrowers’ employers may be violating the Fair Debt Collection Act. If so, those debt collectors may be forced to pay borrowers $1,000 in damages. Additionally, without proper documentation, the debt may be discharged.

If you believe that you have been harassed by aggressive debt collectors, the Law Firm of Vaughn, Weber & Prakope, PLLC is here to help! Call (516) 858-2620 for a free consultation.

Foreclosures and Loan Modifications Up

On January 5, 2012, in Foreclosure, by Robbie L. Vaughn, Esq.

Foreclosures are Increasing

Foreclosures are increasing.

According to several recent news articles and reports,  it appears that foreclosure actions are once again on the rise. Fortunately, we have noticed much of an increase in foreclosure actions being brought.  At any rate, this is still troubling news.

Loan Modifications are up.

At least in our office, we have seen an increase in Loan Modifications. Many of our clients have recently received loan modification offers. Many of the offers are for a HAMP trial modification. However, we have received some permanent in-house modification offers.

Each case varies:

  • Some cases involved lengthy litigation (years).
  • Some cases were resolved in a matter of months.
  • Several of our clients had already filed for chapter 7 bankruptcy
  • Most, if not all, of our clients were previously turned down for a loan modification.

Note: Prior results do not guarantee a similar outcome.

The Law Firm of Vaughn, Weber & Prakope, PLLC routinely represents homeowners facing foreclosure. We examine each homeowner’s specific situation to determine their best course of action. We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, and Manhattan) with their foreclosure matters.

Call (516) 858-2620 to arrange a FREE  consultation with a foreclosure attorney!

 

Chapter 13 Debtor Can’t Strip 2nd Mortgage

On December 12, 2011, in Bankruptcy, by Robbie L. Vaughn, Esq.

In a recent chapter 13 bankruptcy case, IN RE WRIGHT, Bankr. Court, ED New York 2011, a debtor was NOT allowed to “strip off” a second mortgage held by Chase. At trial several issues were raised regarding how the Debtor’s appraiser conducted his appraisal. The Court found that the Debtor failed to meet its burden of establishing that Chase’s lien was wholly unsecured.

A second mortgage can only be “stripped” and treated as unsecured if the chapter 13 debtor can prove that his/her home is not worth any more than their first mortgage.

As always, the bankruptcy Law Firm of VAUGHN & WEBER, PLLC is here to assist you.  We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., #208, in Mineola, NY.  Contact us at (516) 858-2620 to arrange a consultation with a bankruptcy attorney.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. This website is Attorney Advertising. It does not form an attorney-client relationship. We are a debt relief agency and a law firm that helps people file for bankruptcy relief under the U.S. Bankruptcy Code – Title 11. Prior results do not guarantee a similar outcome. Proudly assisting residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, Manhattan



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