Archive for: ‘March 2016’

Miami Bankruptcy Attorney Timothy S. Kingcade Receives the Prestigious AVVO Clients’ Choice Award 2016

March 24, 2016 Posted by kingcade

Managing Shareholder, Timothy S. Kingcade of the Miami-based law firm of Kingcade & Garcia, P.A. was recently honored with the 2016 AVVO Clients’ Choice Award.  In order to achieve this honor, an attorney must have received five or more exceptional client reviews within the last year.

One of attorney Kingcade’s recent client reviews on AVVO had this to say, “Making the decision to file for bankruptcy was difficult and scary.  17 years of marriage ended in a bad divorce and my entire world collapsed.  At 60 years of age my future looked pathetic and hopeless.  The phone rang constantly, I was not able to sleep and all I did was cry.  I was lost and didn’t know what to do.  During my first meeting with Mr. Kingcade his words were, “I want you to take a deep breath, and stop crying, everything is going to be OK.  I have your back and I will take care of everything.”  Timothy eliminated the stress and treated me with respect, compassion and understanding.  He explained everything, answered all my questions and I felt (and still feel) protected. When I call or send emails, he replies the same day.  Throughout the entire process and today I can say, “everything is going to be OK.” If you are in need of legal assistance in bankruptcy, I would highly recommend Mr. Kingcade. I know you will not regret it. He will explain all your options and guide you all the way. Selecting Mr. Kingcade as my attorney was the best decision!  I am forever thankful for his assistance and the advice he gave me.

Attorney Timothy S. Kingcade founded the law firm Kingcade & Garcia, P.A. in 1996. He has been dedicated to helping thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. Timothy is also a certified public accountant (CPA), which allows him to better understand tax-motivated bankruptcy cases against the IRS. Timothy’s vast experience and expertise in the area of bankruptcy law allow him to know what bankruptcy trustees in the Southern District of Florida are looking for, preventing his clients from some of the pitfalls that can lead to the dismissal of a bankruptcy claim.

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Miami-based Kingcade & Garcia, P.A. was established by managing partner and attorney, Timothy S. Kingcade in 1996. The firm represents clients throughout the State of Florida in Chapter 7 bankruptcy and foreclosure defense. The firm is committed to providing personalized service to each and every client. The office environment and the service provided are centered on a culture of superior client care. Additionally, all attorneys and staff members at the firm are bilingual speaking Spanish.

House Passes Foreclosure Extension Protection for Military Homeowners

March 23, 2016 Posted by kingcade

The Foreclosure Relief and Extension for Servicemembers Act of 2015, which extends foreclosure protection for military homeowners, has been extended from the current 90-day period to a one-year period beginning in January 2018.

The foreclosure protection element of the Servicemembers Civil Relief Act (SCRA) expired at the end of last year, but the extended protection will be retroactive when the bill is signed by President Obama.  The legislation was backed by a coalition of veterans’ organizations and housing and financial services trade associations.

The SCRA’s extension provides important foreclosure protections to the brave men and women of our military who are transitioning back into civilian life.  This is a vital homeownership tool that helps members of the military stay in their homes.

The Consumer Financial Protection Bureau announced that it received approximately 2,800 complaints from military personnel related to mortgages during 2015.  The majority of these complaints were related to servicing issues, including loan modifications, collections and foreclosures.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Miami Bankruptcy Judge Sides with Homeowner Facing Foreclosure

March 22, 2016 Posted by kingcade

U.S. Bankruptcy Judge Laurel Isicoff recently ruled in favor of a Miami homeowner facing foreclosure, an important decision linking bankruptcy and foreclosure cases.  The 14-page ruling challenged other decisions forcing homeowners to stop fighting foreclosure on property they surrender in bankruptcy.  The judge ruled that surrendered property not administered by a trustee is abandoned to the debtor, not the creditor.

“Compulsory surrender of real property collateral by a debtor to a lienholder in Chapter 7 is not supported by and indeed ignores the express provisions of the Bankruptcy Code,” Isicoff wrote. “And consequently I must disagree with my colleagues who have held otherwise.”

The case involved mortgage holder AS Theia LLC, a Miami homeowner and his Sunny Isles Beach condo.  It was the latest in an ongoing debate about the meaning and consequences of house surrenders in bankruptcy court. The central question is whether homeowners who surrender their property to get bankruptcy protection must stop fighting in state court to save the same homes from foreclosure.

In a similar 2011 case, In re Failla, the judge ordered the borrowers to stop defending a pending foreclosure action.  The judge acknowledged the bankruptcy law did not specify whether a surrender was to the trustee or lienholder, but found the borrowers committed fraud by agreeing to surrender in one court but fighting to keep the property in another.

The district court upheld the decision, ruling the critical question was the “legal effect of the debtor’s decision to surrender,” not whether the property went to the trustee or lienholder.

Isicoff suggested the ruling ignores a key factor: whether or not the debtors complied with the surrender by not interfering with the trustee’s administration of the property.

This is an important decision because it gives homeowners the opportunity to have their day in court and require the lenders prove their case.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

WARNING: Personal Loans with No Credit Check a Bad Idea

March 21, 2016 Posted by kingcade

Lenders who do not require credit checks seem too good to be true.  That’s because they are. These offers are as predatory as payday loans. “Installment loans,” are also something consumers need to beware of.  These loans come with extremely high interest rates, often more than 200%, and lenders do not consider a borrower’s ability to repay the loan.  A paycheck and a bank account are usually all you need to qualify, because lenders withdraw payments electronically, often relentlessly.

It’s no wonder borrowers frequently default or get trapped in new loans.  Consider this: One lender advertises a $2,600, 18-month loan at 187% interest.  That would mean a borrower would repay almost $8,000!

Borrowers usually have low incomes and limited access to traditional forms of credit, according to studies by the Center for Responsible Lending.  Installment loans may seem like a good alternative compared with payday loans, but the exorbitant interest rates make them more harmful in the long run.  Some lenders tack on additional fees, like credit insurance, that drive up the cost of these loans even more.

The increase of these predatory loans have gotten the attention of the U.S. Defense Department that recently expanded regulations to cap the interest rate on all loans at 36% for military members and their families.

There are safer alternatives to no-credit-check loans and installment loans.  If you are in need of cash and have poor credit, your local credit union is a good option.  Most credit unions offer small-dollar loans of $500 and above, and they are often willing to work with you to make the payments affordable, even if you do not have the best credit.  Many also have starter credit cards or loans to help you build a credit history. The interest rate charged by a federal credit union is capped at 18%.

If you are in financial crisis and considering filing for bankruptcy, contact an experienced Miami bankruptcy attorney who can advise you of all your options. As an experienced CPA as well as a proven bankruptcy lawyer, Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade & Garcia, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.

Related Resources: http://www.nerdwallet.com/blog/loans/no-credit-check-installment-loan/

Multiple South Florida Condos under Investigation for Election Fraud

March 18, 2016 Posted by kingcade

There have been numerous reports of “electoral irregularities” at The Beach Club at Fountainebleau Park, Los Sueños and the Hialeah complex, Bella Venezia.  These are just a portion of the hundreds of complaints submitted in 2015 by condo owners in Miami-Dade and Broward to the Florida Dept. of Business and Professional Regulation (DBPR), the state agency that supervises condo operations.

Florida has nearly 1.6 million condos, 38% of them in Miami-Dade and Broward.  The state has long faced difficulties combating fraud and bribes to members of the board of directors and the administrative companies that they hire. Some condo associations are not even holding elections anymore.

The reason, “Sometimes, in an effort to save money we commit violations,” the administrator wrote to an owner who had complained about the lack of an election.  Since the Great Recession, the budgets for the state and local regulatory agencies and state prosecutors have faced cutbacks and the challenges continue.

There have been efforts to strengthen the state laws, but the application of those laws has been inconsistent. Frustrated condo residents say they have limited options, as most of the complaints do not involve criminal activities and are handled in civil courts.  After receiving several complaints in recent months from residents alleging financial mismanagement, lack of transparency and electoral fraud in condominiums, el Nuevo Herald and Univisión 23 launched their own investigation.

Their findings included at least 84 fraudulent signatures on ballots for the board of directors at The Beach Club at Fountainebleau Park. From the more than 500 complaints filed with the DBPR by condo owners in Miami-Dade in 2015, the investigation focused on the 81 cases still pending.

Of those, 27 involved alleged irregularities in elections to boards of directors — people who approve lucrative contracts for the condos and 31 involved a lack of access to information that owners have a right to obtain under state laws. Another nine cases involved allegations of financial mismanagement. The rest involved the unauthorized use of reserve funds, disputes over fines and other issues.

Miami-Dade recorded the highest number of complaints of irregularities and fraud in the administration of condos of any county in 2015, according to the DBPR. Out of 1,908 complaints received in the State of Florida, 566 were filed in Miami-Dade.

Click here to read more on this story.

Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami foreclosure defense attorney Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia website at www.miamibankruptcy.com.