Steigerwalt Law Firm

Useful Information Regarding the Fair Debt Collection Practices Act

2011-11-03T13:45:00.000-07:00

What is the Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act (FDCPA) is federal law which is enforced by the Fair Trade Commission (FTC). The FDCPA makes it illegal for debt collectors to use misleading, overly aggressive, or abusive practices to collect debts from consumers. The law applies to personal and household debts, but not business debts.

How does the FDCPA help protect consumers?

The FDCPA regulates when and where debt collectors may contact you, and what debt collectors are permitted to say. Collectors may not call your employer if you inform them you are not allowed to receive phone calls at work. They are also not permitted to contact you at inconvenient hours of the day, like very early in the morning or late at night.

Debt collectors are permitted to contact third parties to get your address, phone number, or the name of your employer. However, they cannot discuss your debt with any third parties (other than your spouse or your lawyer).Collectors are required to provide consumers with a written notice of the debt that states how much is owed, the name of the creditor, and how to dispute the debt. Never agree to pay a debt over the phone without receiving the legally required written notice.

What are Debt Collectors prohibited from saying when attempting to collect a debt?

Collectors may not use methods that harass, mislead, or deceive consumers. This includes using profanity, claiming that you have committed a crime by not paying the debt, falsely claiming the collector works for the government/court, or threatening to have you arrested if you do not pay.

Can consumers stop a Debt Collector from contacting them?

You can make a written demand to a debt collector to request they stop contacting you. After receiving a written demand, a collector may only communicate with you to tell you either: they will no longer contact you regarding the debt, or they plan to take some particular legal action. But, requesting that a collector stop contacting you does not prevent them from filing a lawsuit. If the collector obtains a judgment, they may seek to have your wages garnished or your bank account levied.However, a debt collector may be permanently stopped from collecting a debt when a person files for bankruptcy. Once a bankruptcy case is filed, an automatic stay on all collection activities goes into effect. Debt Collectors are barred from contacting you for any reason. They may not send letters, make phone calls, file a lawsuit, obtain a judgment, garnish your wages, or levy your bank accounts. If a collector continues to contact a person who has filed bankruptcy, they may be sanctioned or fined by the court for violating the automatic stay.

If you are being harassed by creditors, contact the bankruptcy attorneys at Steigerwalt Law Firm. Our attorneys can stop creditor harassment by invoking the power of the bankruptcy code’s automatic stay. Schedule a free consultation to find out how we can help you take control of your debt and get a fresh financial start.

Beware of Credit Repair Scams

2011-10-12T13:52:00.000-07:00

If you are in debt, you’ve probably noticed the many advertisements on TV and the internet for credit counseling and credit repair companies. Many people wonder if they should try these types of services before deciding to file bankruptcy.

Unfortunately, credit repair scams are all too common. Many consumers hire a credit repair agency only to find that the agency takes their money and does absolutely nothing to help them. If a company promises to erase negative information from your credit report and requests upfront fees, it is likely the company is not legitimate. Negative credit information can only be removed from your credit report if it’s false information.

If you are looking for credit counseling services, contact the Office of the United States Trustee for a list of government approved agencies. Credit counseling can be beneficial if you need help making a monthly household budget or a plan for repaying your debt. Some companies also offer debt negotiation services. They will contact your creditors and attempt to negotiate settlement of the accounts in exchange for reduced lump-sum payments.

If you do not have the money available to make lump sum payments to creditors, or your debt stems from illness, divorce, or loss of income, bankruptcy may be a better option to eliminate your debt. The attorneys at Steigerwalt Law Firm can evaluate your financial situation and advise you on the type of bankruptcy that will offer the greatest benefit. Contact us to find out how we can help you get a fresh financial start.

Home Saving Options

2011-08-15T10:12:00.000-07:00

So what is new onthe housing market front?

I came across the below mentioned article from apopular real estate publication. Onthe upside, the homeowner, short term, they get to stay in their home. Thecaution would be down the road, long term, when the homeowner has paid down themortgage to create an equity blanket, but now will have to share that equitywith the mortgage company.

In my view, there could verywell be a tax consequence that may occur for the forgiveness of debt. As aprecautionary measure, get all the facts and have the loan modificationagreement reviewed by a tax professional and our bankruptcy attorney at Steigerwalt Law Firm .

ProgramHelps Troubled Borrowers Reduce Mortgage if They Share Upside with Investors

Ocwen FinancialCorporation is giving distressed home owners who owe more than their houses areworth an interesting option — the company will reduce your outstandingmortgage, but if your home increases in value by the time you sell or refinanceit, you have to share that profit with your lender.

In Ocwen’s SharedAppreciation Modification program, the principal of your loan is written downto 95% of the current market value of your home. The written-down portion isforgiven in one-third increments over the next three years, so long as you staycurrent on the modified mortgage. When you later sell or refinance your home,you have to share 25% of the appreciation with the investors that own the loan.You keep the other 75% of the gain.

“Like allmodifications, SAMs help home owners avoid foreclosure,” said Ocwen CEO RonaldFaris. “But they also restore equity. That’s a significant benefit to thecustomer and, we believe, the economy and housing market.”

Ocwen data show anunderwater home owner is one-and-a-half to two times more likely to default onhis mortgage than one with at least some positive equity in his house.

Ocwen launched theSAM program on a pilot basis in August, 2010. “The results of our initial pilotwere extremely positive — 79% borrower acceptance rate with only 2.63%re-defaults,” Faris said.

Ocwen has sinceramped up the program and now has regulatory clearance to make it available toqualified customers in 33 states. “We think this program can make a real impacton curing the negative equity problem and are working hard to obtain approvalsfor SAMs in all jurisdictions,” Faris said.

Ocwen currently services $74 billion in residential mortgages.

Benefits of the Powerful Chapter 13 Bankruptcy

2011-08-05T15:28:00.000-07:00

Have you ever wondered who benefits from filing a Chapter 13 Bankruptcy? A Chapter 13 Bankruptcy benefits individual and married consumers by addressing and resolving a number of the issues life throws their way. Throughout this blog, I will present three of the major benefits a Chapter 13 Bankruptcy has to offer.

The most obvious issue addressed in a Chapter 13 Bankruptcy is unsecured creditors. Throughout the duration of their payment plan, a Chapter 13 client is required to repay a portion of their unsecured debt. This portion can range from 0% to 100% of the client’s total liability and lasts for three to five years. The percentage of pay back and duration of plan are specific to each individual case, however, are generally determined using household size and gross annual income. While the benefits of a low percentage plan are obvious, you may wonder why a consumer would choose to file their case if a high percentage plan is proposed. Even if a consumer is required to repay 100% of their unsecured debts, they are able to do so at a 0% interest rate without the accrual of late fees and/or additional charges. The balances of all accounts are frozen upon filing and cannot increase. In addition, consumers are protected from summons, lawsuits, wage garnishments, levies, collection notices and, not to mention, harassing phone calls associated with creditors during the duration of their plan. Once a Chapter 13 plan is complete, the remaining balances on all unsecured accounts are discharged.

Many consumers also file for Chapter 13 Bankruptcy in an effort to address mortgage arrears. With the state of the economy today, many individuals have fallen behind on mortgage payments and found themselves drawing nearer to default or foreclosure. A Chapter 13 Bankruptcy can cure these arrears by putting the amount required to become current through the plan. Mortgage arrears must be paid in full during the first 36 months of the plan, and it is the client’s responsibility to remain current on both first and second mortgages moving forward. The same rule applies for back property taxes and back hoa dues. For those consumers who have fallen too far behind and are emotionally ready to part with their properties, a Chapter 13 Bankruptcy can surrender their mortgages in full and final. In other words, the consumer will not be held liable for any second or third mortgages post filing all while postponing the date of their Trustee Sale and allowing additional time to make a home elsewhere.

Lastly, a Chapter 13 Bankruptcy can benefit consumers with outstanding IRS or Franchise Tax liability. All liability will be paid in full at a 0% interest rate throughout the duration of the Chapter 13 plan. Upon filing, all garnishments, levies, installment payments, and notices with accruing interest and late fees will cease, and the balances owed will be addressed through the Bankruptcy. Moving forward post filing, it is the consumer’s responsibility to refrain from incurring future tax debt.

In conclusion, addressing unsecured debts, mortgage arrears, and tax liability are just three of the many benefits of the powerful Chapter 13 Bankruptcy. The San Diego bankruptcy attorneys at Steigerwalt Law Firm have extensive experience representing individuals through bankruptcy proceedings. We are committed to helping everyday people who have insurmountable credit card bills, medical bills, and other types of debt. Contact the bankruptcy attorneys at Steigerwalt Law Firm today for expert legal representation. Find out why we are one of the largest filers of consumer bankruptcy in San Diego.

Stay tuned for additional benefits and insight into a complex yet gainful Bankruptcy Chapter.

How do you know it’s time to file bankruptcy?

2011-07-26T15:29:00.000-07:00

Filing bankruptcy is an easy decision to make to address your personal financial crisis. This tough decision may come as a result of a loss of employment, divorce or illness. Sometimes it comes as a result of a combination of all of these things. It can be a very complex process and may take a toll on your daily activities. The only way to ensure that bankruptcy is the right option for you is to discuss your situation with a lawyer who specializes in consumer Bankruptcy. Steigerwalt Law Firm is staffed with experienced bankruptcy lawyers, who can help you at every stage of the process, maximize the retention of your assets while reducing your liabilities.

Listed below are some of the indicators that suggest that it’s time for you to file bankruptcy.

• When you owe more debt than your financial ability is capable of addressing.

• You lost your job and meeting the living expenses is becoming a headache.

• You are ill and can’t pay the medical expenses.

• Debt collectors are calling you.

• You are struggling to pay your monthly credit card payments.

• You have to use credit cards to pay for necessities.

• You are falling behind on your mortgage payments.

• Your bank accounts have been frozen or levied upon.

• You have no idea how much actually owe.

• Your creditors have initiated or are about to initiate legal proceedings.

• The mere thought of sorting out your finances makes you feel scared or out of control.

• Your vehicle is about to be repossessed.

• Your home is in foreclosure.

According to “A New Horizon”, record numbers of 1,530,078 personal bankruptcies were completed in 2010 according to a press release , which is an increase of 9% from the year 2009. Experts say that this number might climb 2011. California was one of the hard hit states, with an increase of 25% of bankruptcy filings.

If you are facing any of the above mentioned problems then filing bankruptcy may very well be an option you need to exercise. It’s always beneficial to contact a lawyer early before things get out of hand. Only a qualified bankruptcy lawyer can fully advise you of all your options and formulate a plan that will address your financial goals.

Contact our San Diego Bankruptcy Law Offices to schedule your free debt evaluation. We offer a no-charge, no-pressure initial consultation so that you can decide for yourself which option suits you best. You can call us at (858)-362-3484, where our legal assistants are available to assist you 24/7. We also offer weekend appointments for your convenience.

Questions to ask your Lawyer

2011-07-18T13:46:00.000-07:00

No one ever expects to get in trouble with the law, but if you do what steps would you take to find the best lawyer for you? Here are some pointers on finding a lawyer that is the right fit for you.

In general, the first step most individuals take is online research. You should start by searching for a local law firm and/or lawyer that practices in the area of law that applies to your individual situation. After reviewing the search results narrow the list to two firms and pick the one that you think will be most compatible to your case demands. Take time to review their website and other clients’ feedback.

With the current dawn of social media in almost every domain, it is a good option to scan their online presence. Law firms at times offer certain deals on their social networks like Facebook and Twitter . These social media sites are available for your benefit so take advantage of them.

Once you finalize which law firm/lawyer will suit you best, it is smart to prepare for your meeting. Since time is valuable for both the law firm and you, begin to think about what questions and concerns you may have. The first consultation is the most optimal time to determine if the law firm and you are the right match for your legal matter. Initial consultations generally last from 30 minutes to an hour and you need to be prepared in order to fully benefit from this meeting.

Since many times these meetings are an individual’s first experience with the law and legal matters, it may be hard to even determine what questions you may have. We have created a list below outlining some common questions that will help you gain some insight and allow you to be prepared for your first meeting.

Questions to ask before hiring a lawyer:

1) How long have you been practicing law?

2) Have you had a chance to work on similar cases?

Questions to ask while discussing your financial capabilities:

1) What will be the cost?

2) What if I can’t pay you upfront?

3) Do you have a payment plan?

4) How often and on what dates will you bill me?

Questions to ask while discussing your case:

1) What is the status of my case? Is it complex or pretty straight forward?

2) What are the possible outcomes of my case?

3) What are the procedures involved in my case?

4) How long will it take to have the case resolved completely?

Other general questions:

1) What is the best means of communication when contacting you?

2) Who will be the contact person on my case?

The legal process is complicated and frustrating. Contact our group of experts at Steigerwalt Law Firm for assistance. We offer experienced attorneys with flexible and affordable payment plans. We know that this is a tough time for you and we promise that you will always be treated with respect. You can call us at (858)-362-3484, where our legal assistants are available to assist you 24/7. We also offer weekend appointments for your convenience.

Remember time is of the upmost importance when it comes to legal matters, therefore contact us today. We are here to help.

Bankruptcy Case Result

2011-07-11T13:58:00.000-07:00

Steigerwalt Law Firm's mission statement is : "To Exceed Client Expectations". Our team of experts and lawyers strive to give best possible services and results to our clients. We would like to share one of the many such case results.

Actual case history:

Chapter 13 clients file a repayment plan to address unsecured debt in 2008. The clients made every payment then, unexpectedly one of the clients is diagnosed with esophageal cancer and becomes disable. Client only has a 30-40% survival rate. Client undergoes several operations and begins chemotherapy. With the loss of income, clients can no longer maintain the debt payment and their mortgage payment, and still meet all the out of pocket expenses for medicines and deductibles.

The Chapter 13 Bankruptcy Team of Katie Parker, Krystle DeRocco and D.J. Rausa gather all the necessary documents and files a Motion in the Bankruptcy Court for a Hardship Discharge. The Discharge will enable this family to remain in their home. Chapter 13 trustee objects to Motion for Hardship Discharge. The Bankruptcy Team files additional statements with the Court in an attempt to convince the Chapter 13 Trustee that a Discharge is warranted. The case is heard in Court before the Bankruptcy Judge.

Lead Bankruptcy Attorney D.J. Rausa, argues the case. The attorney for the Chapter 13 Trustee states his position. After a very long and detailed analysis of the issue presented, the Court rules that sufficient evidence was presented by Mr. Rausa. The Court found that the facts and circumstances were compelling and ruled in favor of the debtors. The request for the Hardship Discharge was granted.

The clients were hoping for this result and were very happy. When asked how much the fees were for the excellent work done by the Bankruptcy Team, they were informed that all fees were waived. It was decided that under these circumstances, the great result was payment enough.

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If you are wondering if bankruptcy could save your home and protect your family from the hardship of foreclosure, please call us at Steigerwalt Law Firm for your free consultation. We take appointments on short notice. We are not judgmental, and you will be treated with kindness and respect at all times.

Contact us :
SD Defense lawyers
SD Bankruptcy

Call us:
(858) 362-3484.

Student Loans

2011-07-07T14:33:00.000-07:00

Graduation has come and gone, now what?

In 6 months or so, recently graduated college students will have to face the prospect of paying on the student loans incurred while in college. For some, this will be a nightmare for some as the job marked is tough. The Department of Education is not going to wait for payment. So here are a couple of helpful hints.

Ascertain the balances of all your student loans, track them down through the National Student Loan Data System. www.nslds.ed.gov.
If there are private loans out there, get all that information as well.
Inform all student loans of your present mailing address and keep them informed of your current contact information
Begin paying on them as soon as possible
Pay the largest balances first as these loans have a percentage of interest which will accumulate.
Compare the interest rates of these loans and pay the highest interest rate one first.

Check into other programs that may assist you, such as an income based repayment plan at http://www.ibrinfo.org/what.vp.html

You may be able to consolidate all of your loans into one lower interest rate loan. For more information http://loanconsolidation.ed.gov/

As a Bankruptcy Lawyer of over 18 years, let me give you some advice. DO NOT IGNORE THEM! They will never go away!

For more information visit our website : http://www.sd-bankruptcy.com/ or call (858) 362-3484. Contact our San Diego bankruptcy law offices to schedule your free debt evaluation.

Meet our attorneys!

2011-07-06T15:01:00.000-07:00

When asked a question: "Why do you love being a lawyer?" , our attorneys shared below mentioned responses. Check out their replies in their own words.

Jay Finnecy:

Jay S. Finnecy is an attorney for the criminal division of Steigerwalt Law Firm. Mr. Finnecy brings 15 years of experience as a criminal attorney to the benefit of his clients. He has been a featured legal commentator on KOGO AM-600, KFMB AM-760, and Court TV.

In his words:
I like the challenge and reward of helping people through difficult situations. I like working with the client, the prosecution, and the court to reach a reasonable and fair resolution that takes into consideration my client’s unique situation.

Bradley Corbett:

Bradley was hired out of law school by San Diego's largest criminal defense firm where he was entrusted with hundreds of cases. Bradley has taken numerous cases to jury trial and has won Not Guilty verdicts in EVERY courthouse in San Diego County and in Long Beach. He is known in the legal community for being passionate and a tireless worker. Bradley is a "true believer" in the criminal justice system and takes pride in helping his clients take control of their future by fighting back against those who want to see his clients in jail.

In his words:
I like being a lawyer, because I get to help people get second chances. I get to fight for them when nobody else will. It feels good to help be the voice of those who don’t have a voice.

D.J. Rausa:

D.J. Rausa has specialized in consumer bankruptcy since 1994. He has twice served on the Board of Directors for the San Diego Bankruptcy Forum, D.J. has helped thousands of San Diego residents seek debt relief with Chapter 7 and Chapter 13 bankruptcies.

In his words:
I get to obtain instantaneous relief for our clients. Bankruptcy Law is the only area of law where you can obtain a court order that will stop all collection activities immediately. I love the challenge of putting that all together for our clients and enjoy the results just as much as they do. When we stop a foreclosure or get a car returned, that makes my day. When I exceed the expectations of a client, it makes all the hard work so worth it.

Katie Parker:

Katie Parker is an attorney with Steigerwalt Law Firm practicing in the area of consumer bankruptcy. She works on both Chapter 7 and Chapter 13 bankruptcy cases. She is committed to helping clients through difficult financial times by obtaining relief under the bankruptcy code.

In her words:
I enjoy helping our clients get a fresh financial start. People come to us overwhelmed and stressed out because of their finances. Through our work, we’re able to obtain a discharge of debt for the clients. By the time the case is closed, the clients are able to focus on other important parts of their lives, like their families and kids, rather than being constantly worried about finances. It’s great seeing that result over and over again and knowing we’re helping a lot of people.