Consumer Financial Protection Bureau issues new arbitration rule

By Marrero, Chamizo, Marcer Law, LP,

Most Florida debtors know that financial institutions do not issue credit cards until consumers have agreed to a long list of terms. These conditions often include provisions that require any debt relief disputes to be settled through binding arbitration. Lenders prefer arbitration because it is less public, less expensive and more predictable than traditional litigation….

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More high-income debtors choosing Chapter 11 bankruptcy

By Marrero, Chamizo, Marcer Law, LP,

When Florida debtors qualify for Chapter 13 bankruptcy, they might still choose to file under Chapter 11. Despite the greater expenses and complications of Chapter 11, researchers discovered that increasing numbers of individuals were opting for Chapter 11 protection. The ABI Endownment Fund commissioned the study, which found that individuals were entering the Chapter 11…

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Are you the next target of a mortgage modification scam?

By Marrero, Chamizo, Marcer Law, LP,

Mortgage modifications are often wise options for people who are behind in their mortgage payments or who are interested in lowering their payments. Unfortunately, there are a lot of scam artists out there conning innocent homeowners. Florida Attorney General warns residents about scams Despite crackdowns on mortgage scam artists, Florida residents are still being targeted…

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Supreme Court sides with truck drivers in bankruptcy case

By Marrero, Chamizo, Marcer Law, LP,

When a Florida company files for bankruptcy, the workers might worry about receiving their salaries like the drivers who worked for Jevic Holding Corp. They had to take their case all the way to the Supreme Court of the United States after lower courts ignored their $8 million claim for damages while settling the Chapter…

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Reasons to pay off debt

By Marrero, Chamizo, Marcer Law, LP,

Some people in Florida who are in debt might think that paying it off as soon as possible is not important. So many people carry debt these days that it is often seen as normal to be hundreds or even thousands of dollars in debt. However, there are a number of reasons to get rid…

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How bill collectors pusue left-behind debt

By Marrero, Chamizo, Marcer Law, LP,

The deceptive practices and intimidating tactics of debt collection companies in Florida and around the country have been criticized by state prosecutors, federal regulators and consumer advocates alike. One approach that has drawn particular ire is the practice of leading the loved ones of deceased debtors to believe that they are responsible for clearing up…

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How will Chapter 7 bankruptcy affect my credit?

By Marrero, Chamizo, Marcer Law, LP,

One of the top concerns for people considering filing for bankruptcy is the resulting effects on their credit score. A credit score can have a lot of power, dictating where you can live and what you can buy. It is important to know where you will stand after filing for bankruptcy. If your score is…

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Understanding debt negotiation companies

By Marrero, Chamizo, Marcer Law, LP,

Debt negotiation firms exist to help those who struggle with debts, such as credit cards and car loans. Florida residents who are struggling with debt might be interested in reading about how these types of companies work before using their services. Debt negotiation companies help people settle their credit card debts by negotiating with creditors,…

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Dealing with collection attempts for zombie debts

By Marrero, Chamizo, Marcer Law, LP,

When Florida consumers suddenly receive a letter or a phone call about a debt that they don’t know anything about, they could be facing a ‘zombie debt.” This term refers to an obligation that has lain dormant for years before being resurrected by a collections agency. It may or may not be legitimate. Sometimes a…

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Expired, invalid debts are often collected in bankruptcy

By Marrero, Chamizo, Marcer Law, LP,

Many Florida residents who are in debt to others are not aware that there is a statute of limitations regarding their obligations. After a certain period of time, an unpaid debt that has not been reaffirmed by the debtor becomes uncollectible. If a debtor files for bankruptcy, the owner of time-barred debt may be able…

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