Kingcade Garcia McMaken, P.A. Bankruptcy Attorneys

Bankruptcy Law, Credit, Timothy Kingcade Posts

Dealing with Creditors and Debt Collectors While Filing for Bankruptcy in Florida

Posted on October 12, 2011by Admin

One of the reasons that many people file for bankruptcy is that they are being harassed by debt collectors, or are facing wage garnishment and foreclosure, and they know they cannot turn around their financial situations without help. Filing bankruptcy stops all collection actions, including home foreclosure, but while people are in the process of filing a bankruptcy petition, they are often still dealing with creditors. Following some simple steps can reduce the stress of debt collectors bothering a person filing for bankruptcy.

Bankruptcy Protections

One of the most attractive benefits of bankruptcy is the stay of all foreclosure, garnishment, repossession and utility shut-off actions by creditors. Once a person files a bankruptcy petition, all of the person’s assets become part of the bankruptcy estate for the trustee to distribute to the creditors according to their priority under the law. Creditors cannot try to take money or other assets from the bankruptcy estate because it would potentially be “cutting in line” in front other creditors who have a higher priority.

Tips for Dealing with Creditors While Filing Bankruptcy

If a creditor is harassing a debtor with phone calls and letters during the time the debtor is filing the bankruptcy petition, the best course of action for the debtor is to inform the creditor that he or she is in the process of filing bankruptcy and that any actions to collect will be in vain.

It is advisable to keep all communications with the debt collector brief and only inform them of the upcoming bankruptcy petition. Many debt collectors will say things that are upsetting to the debtor or try to get the debtor to say things contrary to his or her interest. Writing a letter to the creditor is one possible way of ensuring that the communication is limited.

However, if a creditor has already obtained a judgment against a debtor against the debtor, the creditor may be motivated to act even more aggressively upon hearing the news that the debtor is filing bankruptcy by garnishing wages or bank accounts. The creditor cannot take more than $600 or the bankruptcy court will likely call that a “preference” and make the creditor return it. However, creditors may rush to garnish wages or accounts and take just under $600, knowing that they will likely be able to keep it and that is possibly the only payment they will ever see on the debt. In such a situation, the only remedy is to file the bankruptcy petition as quickly as possible.

If you are in a financial crisis and are considering filing bankruptcy, contact an experienced attorney who can advise you of all of your options. 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, P.A. website at www.miamibankruptcy.com.

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Protests Spread Nationwide in Response to Corporate Greed and Poor Government Spending

Posted on October 6, 2011by Admin

Many Americans are fed up with the way our country is allocating its money in the midst of today’s economic crisis. In response, middle class, hard working individuals are taking their frustrations to the streets, holding rallies protesting corporate greed and social inequality. Demonstrators include unions, teachers, veterans, first responders, families, the unemployed and the underemployed. What’s known as the “Occupy Wall Street” movement has grown to more than 1,500 people in its second week in New York and is rapidly spreading across the country, with events popping up in Boston, Chicago and dozens of other cities nationwide.
The “99 percent,” as individuals involved in the movement refer to themselves as, are protesting against people who make $40,000 to $50,000 a year, who are struggling to make ends meet. The movement targets Wall Street- in particular big banks and corporations. One of the protestors explains their goal is to create national awareness of how state revenues are being funneled to big banks and corporations, instead of having these billions of dollars put toward job creation and creating solutions to the housing crisis.
To read more on the story visit:
http://abcnews.go.com/blogs/headlines/2011/10/occupy-wall-street-protests-spread-across-the-country-bloomberg-calls-them-misguided/
If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. 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, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Low Income New Yorkers Suffer due to Lack of Legal Representation

Posted on October 6, 2011by Admin

Lack of representation in foreclosure actions has resulted in a number of low-income New Yorkers unjustly losing court battles and even their homes due to not being able to afford adequate legal representation needed to fight baseless legal claims.

The state’s executive deputy attorney general testified that this lack of individual representation in foreclosure actions is one reason there has been systematic abuses of the legal system by lenders and debt collectors.

The top judge recently created a panel to aid the estimated 2.3 million and growing number of low-income New Yorkers who have no legal representation in civil cases ranging from child custody matters to home foreclosures.

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, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Governor Gone Crazy

Posted on October 4, 2011by Admin

With Florida having the nation’s second-highest foreclosure rate and court proceedings taking an average of 638 days, the pressure has mounted for the state to eliminate courts from the foreclosure process. Supporters of the concept-which is used in nearly 30 states, say it will speed up the foreclosure process, get houses back onto the real estate market and boost the economy. Opponents say it puts property owners at the mercy of banks.

Governor Rick Scott, House Speaker Dean Cannon and Senate President Mike Haridopolos are proponents of new legislation which will change Florida laws so judges will no longer be necessary in the foreclosure process. Florida is one of the 20 states that require all foreclosures go through the court system.
Even in states where judges are not forced to preside over foreclosure cases, property owners can take the proceedings to court. However, with the filing fee being nearly $2,000 in the State of Florida, that’s cost prohibitive for most people struggling to keep their home and their finances intact. Taking away individuals’ property rights is denying their ability to access the courts.

This has not been the first attempt to eliminate courts from the foreclosure process. In 2010, the Florida Bankers Association pushed unsuccessfully to change the state’s law so judges did not need to sign off on foreclosures. Representative Darren Soto, D-Orlando, who fought against the 2010 legislation, said he will fight again if it returns in 2012.

Foreclosures, Timothy Kingcade Posts

Recent Ruling could have major implications on Florida Foreclosures setting Precedent for Similar Cases

Posted on September 18, 2011by Admin

A recent ruling in Wellington, FL could have major implications on foreclosure proceedings statewide. The ruling from the 4th District Court of Appeal ruled in favor of the owners of a Wellington home whose bank filed papers sworn by a loan service employee who had no personal knowledge of the case.

This decision reversed an earlier ruling stating the homeowners owed more than $400,000 to LaSalle Bank. The amount was based on an affidavit of indebtedness signed by an employee who obtained the information from a company computer.

The decision hits at the essence of the nation’s foreclosure robo-signing scandal in which tens of thousands of foreclosure court documents were signed by people swearing they had personal knowledge of cases when they did not. From July 2010 to June of this year more then 100,000 foreclosure cases were dismissed in Florida courts often because lenders did not file important paperwork properly.

Bankruptcy Law, Credit, Timothy Kingcade Posts

Economic Conditions Push U.S. Poverty Rate to New Heights

Posted on September 18, 2011by Admin

It is estimated that 46.2 million people are now considered to be living in poverty, which is 2.6 million more than last year. New census data released for 2010 show that the poverty rate has risen 15.1%. That’s up from 14.3% in 2009. With the current economic conditions and many Americans out of work, these statistics are not surprising.
The U.S. government defines the poverty line as an income of $22,314 a year for a family of 4 or $11,139 for an individual. The poverty rate for adults 18-64 rose to 13.7% and the rate for children under 18 increased to 22% in 2010. This translates to 1 in 5 children in America living in poverty. The rate for women living below the poverty line is 16.2% and for men the rate is 14%. Race was also a factor in the study. The poverty rate was lowest for non-Hispanic whites at 9.9%. Blacks had the highest rate at 27.4%, followed by people of Hispanic origin at 26.6%. Asians had a poverty rate of 12.1%.

The income used to calculate poverty status includes earnings, workman’s compensation, unemployment insurance, Social Security, veteran’s payments, pensions, interest and dividends.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy attorneys at (305) 285-9100. 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. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

Thirty-Two Plaintiffs File RICO Action against JPMorgan Chase Bank and Chase Home Finance, LLC

Posted on September 10, 2011by Admin

A Complaint has recently been filed in the Circuit Court of Palm Beach County, Florida against JPMorgan Chase Bank and Chase Home Finance, LLC. The 29-page Complaint alleges several causes of action including violations of the Florida RICO Act, and requests temporary and permanent injunctive relief on a national level to halt all Chase-related foreclosure activity in the eight separate states in which the Plaintiffs reside.

The Complaint alleges a pattern of criminal activity on the part of JPMorgan Chase Bank and Chase Home Finance in connection with the institution of both judicial and non-judicial foreclosures. These include but are not limited to the filing and recording of forged and fraudulent documents, fraudulent collection activities, intentional misuse of the MERS system, and the intentional misrepresentation in foreclosures across the United States. The four counts from the complaint include:

COUNT I: COMMON LAW FRAUD
COUNT II: CONSPIRACY TO DEFRAUD
COUNT III: VIOLATIONS OF FLORIDA CIVIL REMEDIES FOR CRIMINAL
PRACTICES ACT (FLORIDA RICO ACT)
COUNT IV: TEMPORARY AND PERMANENT INJUNCTIVE RELIEF

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. Since 1996 the attorneys at Kingcade & Garcia, P.A. have been helping people from all walks of life build a better tomorrow. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Credit, Foreclosures, Timothy Kingcade Posts

U.S. is set to Sue Big Banks over Mortgages

Posted on September 10, 2011by Admin

The Federal agency that oversees mortgage giants Fannie Mae and Freddie Mac is scheduled to file suit against more than a dozen big banks. The suit is accusing Bank of America, JPMorgan Chase, Goldman Sachs, Deutsche Bank and other banks of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and are seeking billions of dollars in compensation.

The Federal Housing Finance Agency suits are expected to be filed in the coming days and stem from subpoenas the finance agency issued to banks a year ago. The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under securities law and missed evidence that borrowers’ incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value. Fannie Mae and Freddie Mac lost more than $30 billion, in part as a result of the deals. These losses were borne mostly to tax payers.
The suits are being filed now because regulators are concerned that it will be much harder to make claims after a three-year statute of limitations expires this Wednesday, the third anniversary of the federal takeover of Fannie Mae and Freddie Mac.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Bankruptcy Law, Foreclosures, Timothy Kingcade Posts

Bankruptcy Attorney Timothy Kingcade Discusses Bankruptcy Trends with South Florida’s Sun-Sentinel

Posted on September 10, 2011by Admin

Bankruptcy attorney Timothy Kingcade was recently quoted in the Sun-Sentinel and talked bankruptcy trends with workplace reporter, Marcia Pounds. The story was published on September 2, 2011 and discussed how the number of South Florida consumers filing for bankruptcy fell nearly 21 percent, to 2,690 in August, from 3,387 that same month in 2010.

Timothy Kingcade attributes this trend to a stalled home foreclosure process and people being unable to afford to file bankruptcy. “I see so many people who have been unemployed for 18 months. They say, ‘I need to file, but I need a job first,’ he said.

Since 1996 Timothy Kingcade has been helping people from all walks of life build a better tomorrow by taking advantage of their rights under bankruptcy protection laws. To compliment Attorney Kingcade’s extensive experience in bankruptcy law, he is also a certified public accountant (CPA), which provides him with a unique understanding of how to handle tax-motivated bankruptcy cases against the IRS.

If you have any questions on this topic or are in need of a financial fresh start, please contact our experienced team of bankruptcy and foreclosure defense attorneys at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.

Foreclosures, Timothy Kingcade Posts

Burt Reynolds Florida Home in Foreclosure

Posted on September 4, 2011by Admin

It seems that even Hollywood celebrities are not exempt from financial difficulties these days. Burt Reynolds joins the list of Hollywood celebrities that recently had their home foreclosed upon. The 4-acre waterfront estate the actor owned in Hobe Sound, Florida had a $1.2 million mortgage on the house, which reports state had not been paid since September 2010.

Merrill Lynch is asking a judge to order the Reynolds’ home be sold to satisfy all debts, including a $750,000 second mortgage held by Bank Atlantic. It is reported that the Mediterranean-style home, which has a swimming pool, private beach, boat dock, cinema and its own hair salon, is valued at $2.4 million.

To read more on the story visit:

http://abcnews.go.com/Entertainment/burt-reynolds-bottoms-florida-foreclosure/story?id=14324008
http://money.cnn.com/2011/08/17/real_estate/burt_reynolds_foreclosure/index.htm
http://www.huffingtonpost.com/2011/08/18/burt-reynolds-facing-foreclosure_n_930443.html