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If a creditor successfully pursues a lawsuit against you for an unpaid debt, the courts will enter a final judgment against you. Once that judgment is entered, the creditor can send you a form requesting your complete financial disclosure. This form is the fact information sheet, an essential part of the process. If you fail to fill it out, are dishonest in your answers, or don’t fully cooperate, you can face criminal charges.
The Fact Information Sheet
The fact information sheet is officially known as Form 1.977 or Form 7.343. These forms allow the creditor to perform a consolidated discovery or learn about your financial situation. This helps them understand how to best proceed with the judgment.
There are guidelines for the fact information sheet in the Florida Rules of Civil Procedure. When entering a judgment against you, the judge will likely include a paragraph about the fact information sheet. The fact information sheet will also contain instructions about what to have and the importance of completing it entirely and accurately.
The fact sheet and all associated information must be returned to the creditor within 45 days of receiving it. Upon completion, you must sign the fact sheet, and you must do so under oath. For this reason, you can face perjury charges if there is any misleading information or fraudulent statements within the fact sheet. Documents are typically requested; the fact sheet includes tax returns, deeds, and car titles.
The financial situation of specific debtors is sometimes very complex, and the allowed 45 days may not be enough time to collect all the necessary documents. When this is the case, the creditor can ask the court to extend the deadline. However, if the courts allow it and you miss the second deadline, you can still face criminal charges of contempt of court.
Information About a Spouse
Fact information sheets sometimes ask questions or request documents that pertain to a debtor’s spouse. When this is the case, the debtor is often reluctant to fill in this information, knowing that their spouse isn’t responsible for the debt. However, this is usually a mistake. If a creditor asks for dispatch, in most cases, you must provide it. The information is discoverable anyway, so the creditor will likely find it even if you don’t. More so, failing to provide any information may be considered either perjury or contempt of court.
In some cases, providing information about a spouse’s finances can help a patient. For example, if it is demonstrated that the spouse also has few attachable assets, it can validate the debtor’s financial situation claims.
Failure to Comply
Filling out the fact information sheet and signing it under oath is not an optional part of the proceedings when there is a judgment against you. If you are dishonest when providing information or fail to return the fact information sheet by the deadline, the creditor will take legal action against you.
First, a creditor will file a motion to compel. This asks the court to order you to return the fact information sheet or provide additional information. If the creditor does not receive an answer, they file a second motion to compel.
Once the second motion is filed, a judge can issue a civil bench warrant if you still do not answer or fully cooperate. This is a warrant for your arrest. If you are arrested, you will likely face criminal charges for perjury or contempt of court.
Re-submitting a Fact Information Sheet
No question that submitting a fact information sheet is nerve-racking. One small mistake and you could face serious consequences. In addition, handing over your most personal information is something only some people enjoy going through. For these reasons, it’s natural to feel relieved when the entire process ends, and you no longer have to fear it.
However, you should know that if you’ve been asked to submit a fact information sheet once, the creditor will likely ask you to fill out another one in the future. This discourages most people, mainly when they learn there is no limit to how many times a creditor can ask for this information.
The creditor will do this if they suspect that there has been a change in your financial situation. For example, if some time has passed, they may assume that although you were unemployed when the final judgment was entered, you may have found a job by now. Or, they may see on your credit report that you were recently approved for a credit card or a loan and ask you to submit your financial information again.
It’s important to remember that when you’re re-submitting a fact information sheet, all the same rules still apply. You must include whatever documentation is requested and answer all questions as honestly and accurately as possible. Failing to do so could result in the exact criminal charges applied when you filled out the sheet the first time.
Although there is no limit to how many times a creditor can ask for a fact information sheet, a judge will apply the test of general reasonableness to a request for one. For example, if the original fact information sheet was submitted only two months ago, a judge may not find it reasonable for the creditor to ask for another. Generally speaking, though, judges will grant the request approximately once a year.
Don’t Fill Out This Sheet Alone – Call a Fort Lauderdale Debt Defense Lawyer
If you’ve had a final judgment entered against you, don’t try to handle the rest of the process alone. This is a highly stressful time, and you must take the proper steps. A Fort Lauderdale debt defense lawyer can advise on what those are to make it as easy as possible.
At Loan Lawyers, we want to help people through the debt collection process in whatever way we can. If you’re facing debt, we can help prepare defenses against aggressive creditor tactics, and if you’re facing legal action, we can advise on how to proceed. You don’t have to go through any part of this process alone. Call us at (954) 523-HELP (4357) or fill out our online form for your free consultation.
Loan Lawyers has helped over 5,000 South Florida homeowners and consumers with their debt problems. We have saved over 2,000 homes from foreclosure, eliminated more than $100,000,000 in mortgage principal and consumer debt, and recovered over $10,000,000 on behalf of our clients due to bank, loan servicer, and debt collector violations. Contact us for a free consultation and learn more about our money-back guarantee on credit card debt buyer lawsuits and how we can help you.
