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For homeowners that fall behind on mortgage payments and are nearing default of their mortgage loan, the possibility of foreclosure by the mortgagee-lender looms mightily. In Florida, foreclosure is accomplished by the initiation of a judicial proceeding to recover the collateral secured by the mortgage. Typically, the end result of…

Discharging income taxes in bankruptcy will not remove a tax lien which existed prior to the filing of a bankruptcy case. Such a lien is still valid and may not be discharged unless the lien is paid in full or some other resolution is negotiated with the IRS. To determine…

The amount of equity in a motor vehicle is a large factor in determining whether a bankruptcy trustee may take a motor vehicle to repay general, unsecured creditors. If the equity in a car is minimal, then a chapter 7 trustee will typically not sell it. However, if the equity…

Debtors primarily file Chapter 7 bankruptcy cases for the purpose of obtaining a discharge or release of the obligation to repay a debt. A discharge order at the end of a Chapter 7 case cancels or erases a debtor’s personal liability for most debts. The reaffirmation of a debt in…

Loan Lawyers, LLC is licensed to practice law in the state of Florida. If you have a legal matter that you would like to discuss and you are NOT located in Florida, please contact your state’s Bar Association to get the information of a lawyer that can assist you in…

Repossession of an automobile, motorcycle, motor home, boat or other vehicle is damaging to an individual’s credit score. Credit experts report that a repossession remains on a credit report for seven years after the original delinquency date. Obviously, such a reporting may negatively impact credit for the entire duration of…

An offer-in-compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that resolves tax liabilities for less than the full amount of the tax debt. The IRS may accept an Offer in Compromise Settlement based on three grounds: Doubt as to Liability; Doubt as to Collectibility; and…

An offer-in-compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that resolves tax liabilities for less than the full amount of the tax debt. However, if the tax debt may be fully paid through an installment agreement or another payment arrangement, the taxpayer will typically not…

The Telephone Consumer Protection Act (TCPA) allows the Federal Communications Commission (FCC) to helps consumers stop unwanted telephone calls and text messages. It is important to note that rules differ between landline and wireless phones. While FCC rules limit many types of robocalls, some robocalls are allowable if consumers grant…