California Debtor And Creditor Legal Questions

You have the right to redeem the collateral by paying the creditor the value  of the collateral or the balance you owe, whichever is less, in a single lump sum payment.  If you surrender the collateral they have no right to collect any amount from you since your personal liability was discharged.... Read More

Legal action should not be required.  You need to find with someone with your lender who has authority to review your loan file and resolve the issue in writing.  Sometimes having an attorney contact them on your behalf gets their attention and gets you in contact with someone who cana resolve the problem.  Don't ignore it.... Read More

You are not personally liable for your spouse's debts merely because you are married.  You have to have also signed the application or contract.  However, his creditors can collect from your community property.  Whether they will take legal action (lawsuit) to do so is not certain.  If they do, you may be able to work out a settlement or discharge the debt in a bankruptcy.... Read More

You would need to hire an attorney who specializes in EDD issues if you want to deal with them directly on this.  But another option is to file a bankruptcy case to discharge the debt.  If your boyfriend is interested in a free consultation to go over his eligibility and options, have him visit https://www.bklaw.com/consultmain/individual/ to prepare for and schedule an appointment.... Read More

A charge-off is merely a bookkeeping entry.  It has nothing to do with liability on the debt.   The debt may be past the statute of limitations for collections, however.  That depends on a  number of factors, including which states laws apply, when the last payment was made on it, and other things.  ... Read More

I'm not sure what information you are seeking to obtain.  You already stated he has a judgment against you.  That's really the end of the story.  The judgment is valid for 10 years and is renewable.  Whether he continues to try and collect on it is up to him.   Presumably he has recorded an abstract of the judgment so that if and when you ever obtain real estate in the county where he records it, he will have a lien against that property. Beyond that, he has the judgment until it is paid off or settled.... Read More

A creditor cannot issue an arrest warrant.  Only the District Attorney or a court can do so. You may want to consider filing bankruptcy as that will eliminate the debt and resolve any legal problems related to it.  However, if that is your only debt it may not be worth it. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.       ... Read More

It depends on what you are being sued for and whether you dispute it.  If you are being sued for a debt you owe, then you have 30 days to file a response to the lawsuit.  If you do not, then a default judgment will be entered against you and the creditor can seek to garnish your wages, put liens against your assets, seize your bank account and similar remedies allowed under state law. Depending on what type of debt it is, you may be able to file bankruptcy to stop the lawsuit and eliminate the debt.  A consultation with a bankruptcy attorney will help you learn your options. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   ... Read More

Most likely not.  If the creditor has not yet filed suit against you and obtained a judgment, and you have not received a billing statement or made a payment to them in over 4 years, it is most likely beyond the statute of limitations for them to collect. However, if they DID obtain a judgment against you, then they can pursue you for collections via wage garnishment, asset liens, bank account seizure, etc.  ... Read More

If the corporation filed a Chapter 7 case, then you should file a proof of claim with the bankruptcy court so you can share in any distribution from the Trustee.  If you did not receive notice, you should be allowed to file a late claim (assuming it is late at this point--it all depends on what deadlines have been set in the case). Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. ... Read More

Usually the loan company will not release you from liability for the loan.  However, a student loan debt is generally assigned to the spouse who received the education (Family Code section 2641).  Check your divorce judgment and see what it says regarding the student loan liability.  You can try to have the loan company take you off if it states in the judgment she is liable for the debt but its still doubtful they will.  On the other hand, if she is not making the payments and the loan company is coming after you or its affecting your credit, (assuming she was assigned the debt in the divorce judgment) you can file a motion to enforce it.... Read More

Generally you cannot be responsible for the debts of another.  There are some exceptions: There are two options to handle someone's estate after they die if there was not a Living Trust set up:  The first is to probate the estate.  In California if the assets are over $100,000 it has to go through probate.  The second is a small estate procedure which is much easier, quicker and inexpensive for a smaller estate.  In probate, the creditors much file a claim or they get nothing out of the distributions.  In the second instance, the beneificiaries could take on the liability of any unpaid creditors ONLY up to the amount they received from the estate.  This is California law, though, and Florida may be different. Additionally, there are two ways to foreclose on property - one is through a trustee's sale like you see most often here in California.  In this procedure there is no deficiency judgment available to the creditor.  The second way is through a judicial foreclosure and your question states that is the case for your mom's home.  A judicial foreclosure allows a deficiency judgment on any unpaid balance.    In your case, you mention that there is a lawsuit which could result in a deficiency judgment however here in California you would not be liable as you received nothing from her estate.... Read More

Sure, if they have a lien against you property.  They aren't limited to one method of recovery on a judgment (which I'm assuming they already have). Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read More

Bankruptcy is the only way of which I am aware to force them to stop that process and it has the added benefit of eliminating your obligation to pay on the debt. I suggest having a consultation with an experienced bankruptcy attorney in your area.  If you are in California, I would be happy to assist. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   ... Read More

If they obtain a judgment against you, then they can seek all available collection remedies under applicable state law.  In California that includes garnishing your wages and they can seek to seize funds in your bank account.  This is not "freezing" your account; it is taking out whatever is in the account on a given date, so not leaving money in the account is a wise idea. Yes, they could go after the money in your mother's account, assuming the perfected the judgment in Illinois, which would take a bit more work for them (in addition to them finding out it even exists). Have you considered bankruptcy as an alternative to letting this creditor control your life like that?  This is a good time to have a consultation with an experienced bankruptcy attorney to explore your options. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  CONTACT MARK for more information or to schedule an appointment.   ... Read More