by Mike Wallace | Sep 24, 2016 | Bankruptcy
I appeared as a guest today on the Financial Roundtable today, which is broadcast every Saturday and Sunday from 12-1pm on KTBB AM 700 and FM 97.5 in Tyler, and can be heard on the web at www.ktbb.com.
The Host, Randy Stevenson, asked whether I have seen more elderly clients in my practice filing for bankruptcy protection. I have definitely seen that in my practice. The majority of those elderly clients have either helped their children or have paid medical bills and prescription costs, which has led to a slow process of accumulating more and more credit card debt. Because the overwhelming majority of these older clients are on a fixed income, they have come to a point where it is very difficult to meet their monthly living expenses and keep the credit card debt serviced. If you find yourself in this situation and you live in the Tyler or East Texas area, then please give me a call at 800-867-1583. I offer free consultations, so give me a call and we will try to get you on a track of financial stability.
I highly encourage you to be a regular listener to the Financial Roundtable broadcast every Saturday from 12 :00 to 1:00 p.m. on KTBB AM 600 and 97.5 FM in Tyler. You can also stream it live from www.ktbb.com. It is also rebroadcast on Sunday at the same time. Randy Stevenson and his co-host, Jim White, are a wealth of knowledge that will equip you to be the best steward of the resources that God has entrusted you with.
by Mike Wallace | Sep 11, 2016 | Bankruptcy, Motor Vehicles
A TEXAS DRIVER’S LICENSE CAN BE SUSPENDED AS A RESULT OF AN ACCIDENT CAUSED BY A MOTORIST WHO HAS FAILED TO MAINTAIN LIABILITY INSURANCE AT THE TIME OF THE ACCIDENT.
One method to get the suspension of a Texas Driver’s License lifted after suspension resulting from a liability judgment or the probability of a judgment being entered is to file a Chapter 7 or Chapter 13 bankruptcy. I have successfully assisted numerous judgment debtors in lifting suspensions from their driver’s license for unsatisfied liability judgments entered as a result of no insurance at the time of a motor vehicle accident.
If you need to check the current status of your Texas Driver’s License you can click on the following link: Texas Department of Public Safety Driver License Division License Eligibility. Please give me a call at (800) 867-1583 if you are considering bankruptcy in order to solve a license suspension or any other financial problem.
As always, any opinions expressed on this website are just that, opinions. Your individual situation might be different than outlined above, so it is probably best that you give me a call to discuss your individual situation. I pride myself on giving you the answers to your questions that are based on your individual circumstances.
by Mike Wallace | Sep 11, 2016 | Debt Collectors
THE FIFTH CIRCUIT COURT OF APPEALS HAS RULED THAT THE SENDING OF A COLLECTION LETTER TO AN UNSOPHISTICATED CONSUMER ON A TIME-BARRED DEBT, WITHOUT REVEALING THAT THE DEBT IS JUDICIALLY UNENFORCEABLE, CAN VIOLATE THE FAIR DEBT COLLECTION PRACTICES ACT (“FDCPA”).
The Fifth Circuit Court of Appeals on September 8, 2016, issued its opinion in Daugherty v. Convergent Outsourcing, Inc., et al., concluding that the sending of a debt collection letter on a time-barred claim to an unsophisticated consumer without revealing that the claim is judicially unenforceable can violate the FDCPA. This means that the debtor can file suit against the collection agency and seek the statutory damages and attorney’s fees that are allowed under the FDCPA.
The collection agency in Daugherty, Convergent Outsourcing, sent correspondence to the Debtor, Roxanne Daugherty, offering to settle a claim in the amount of $32,405.92 for a one-time payment of $3,240.59. The correspondence did not acknowledge that the claim was time-barred and thus judicially unenforceable. The failure to disclose the fact that the claim was judicially unenforceable violates the FDCPA prohibition against “the false representation of the character or legal status of any debt.”
If you have received correspondence from a collector that you believe relates to a time-barred claim, which typically means in the State of Texas a debt that was incurred more than four years prior to the attempted collection without any intervening payments or collection attempts, then give me a call at (800) 867-1583 and we can discuss whether you might have a potential claim against the collector.
As always, any opinions expressed on this website are just that, opinions. Your individual situation might be different than outlined above, so it is probably best that you give me a call to discuss your individual situation. I pride myself on giving you the answers to your questions that are based on your individual circumstances.
by Mike Wallace | Aug 24, 2016 | Existing Clients
HAVE YOU RECEIVED A MOTION FOR RELIEF FROM AUTOMATIC STAY IN THE MAIL WHILE YOU ARE IN A CHAPTER 13?
I always tell Chapter 13 clients if they receive what is known as a “Motion for Relief from Automatic Stay” it generally means that they are not doing what is required under their Chapter 13 Plan of Reorganization. There are exceptions, but they are rare and I want to provide information to my Chapter 13 clients who are facing a Motion for Relief.
If you receive a Motion for Relief from the Automatic Stay in the mail and I am representing you in a current Chapter 13 case, then I have already received the Motion electronically before you receive the same in the mail. If I don’t make contact with you about the Motion, then I would respectfully request that you make contact with me to discuss why the Motion was filed. Even though car creditors can file a Motion for Relief, it is more common for your mortgage company or mortgage servicer to file the Motion.
Why was the Motion filed? Typically it means you have failed to stay current with the direct payments to your mortgage company during the course of your Chapter 13 Plan. This means you are not in compliance with the terms of your plan. Under those circumstances the mortgage company is asking the bankruptcy court to lift the automatic stay (which prevents the mortgage company from foreclosing while your in the bankruptcy).
When a Motion for Relief is filed it is necessary for me to object to the Motion within a set period of time. The bankruptcy court then sets the Motion for hearing. The setting of that hearing generally spurs a conversation between myself and the attorney representing the mortgage company. For informational purposes we are going to assume that an agreement is worked out between myself and that attorney, which is the case the majority of the time. That agreement is typically reduced to writing in an Agreed Order that is presented to the bankruptcy court for approval. Again, most typically the agreement gives the Debtor a six month period to cure the post-petition mortgage arrears. These are the payments that came due after the filing of the bankruptcy case, but were not made by the Debtor. It is important to keep in mind that these post-petition arrearages must be made in addition to the plan payments and the normal direct payments to the mortgage company.
What happens if a payment called for under the Agreed Order is not made, or the normal direct payments to the mortgage company and/or plan payments are not kept current? If this occurs the mortgage company will send the Debtor a Notice of Default by mail. This Notice of Default will give the Debtor ten (10) days to cure the default. If the default is not cured within that ten (10) day period, then the automatic stay will lift and the mortgage company can resume all collection activity, including proceeding with a foreclosure. If the Debtor defaults for a third time under the typical Agreed Order, then the stay will automatically lift upon that third default.
As always, any opinions expressed on this website are just that, opinions. Your individual situation might be different than outlined above, so it is probably best that you give me a call to discuss your individual situation.
by Mike Wallace | Aug 14, 2016 | Bankruptcy
FILING BANKRUPTCY- NEW TYLER OFFICE
I am pleased to announce that I now have an office in Tyler, Texas (Meetings with me at the Tyler office will be by appointment only).
The office is located at 6655 Oak Hill Blvd., Tyler, Texas 75703, which is behind Fresh off of Old Jacksonville Hwy. If this office is more convenient for you then please give me a call at (903) 594-4451 and we will set a consultation.
I appeared as a guest today on the Financial Roundtable today, which is broadcast every Saturday and Sunday from 12-1pm on KTBB AM 700 and FM 97.5 in Tyler, and can be heard on the web at www.ktbb.com.