March 12, 2010

Lawsuits in Bankruptcy

A Roseville Attorney Discusses Lawsuits in Bankruptcy

Did you recently receive a summons for a lawsuit initiated against you by one of your creditors? Due to personal financial hardship, whatever their circumstance may be, many consumers have been relying on credit cards to meet their basic living expenses; then found themselves unable to make payments on those cards. As many consumers come up against financial hardships this winter, bankruptcy may be an option for freeing themselves of a lawsuit, as well as, other debts. As soon as a debtor files for bankruptcy, a waiting period called the automatic stay goes into effect. During this period, both lawsuits against a debtor and informal attempts to be paid by a debtor are temporarily prohibited. Thereafter, depending on the chapter of bankruptcy, and type of debt, a debtor qualifies for; the lawsuit may simply be discharged with no further action against the debtor for pre-bankruptcy debts being permitted.

On the other hand, the automatic stay may not necessarily apply to actions by the debtor. Therefore if for example a debtor has a pending lawsuit against someone else, that action will generally continue on. The automatic stay, however, does apply to counterclaims. This means that if other parties in the debtor's litigation have filed counteractions in that same dispute, the counterclaims could not generally proceed. Parties seeking relief by asserting a counterclaim would need to request that the stay be lifted.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento and Roseville!

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January 27, 2010

Loan Modification Scam

A Roseville bankruptcy attorney comments on the lawyer arrested on charges of loan modification fraud...

It's been released that a Southern California lawyer, and his business partners were arrested on charges of defrauding over 400 victims in a $1.25 million loan modification scam. The attorney, Christopher Lee Diener and his business partners, Stefano Joseph Marrero and Terrence Green Sr. were each charged with "one felony count of conspiracy to commit grand theft and 97 felony counts of grand theft by false pretense with setencing enhancements for white collar crime and excessive taking" according to a recent press release by the Orange County District Attorney's office.

The trio are alleged to have defrauded hundreds of distressed homeowners by guaranteeing a loan modification, and promising to negotiate lower interest rates, reduce principal, and have lenders forgive second mortgages or late fees. Clients were required to pay in advance for their services that were never provided. In total, they are accured of fraudulently taking $1.25 million, including over $350,000.00 from credit card companies who had to refund cardholders for the fraud. The defendants are further accused of soliciting client referrals in exchange for referral fees which were never paid.

Anyone with additional information, or anyone who believes they are a victim of the scam, is encouraged to contact the supervising district attorney on the case. Homeowners are advised that throughly examine the nature of services promised by those offering loan modification services, and are discouraged from paying professional fees in advance.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!


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January 19, 2010

Recent Law Suit by California Quake Company

Sacramento Bankruptcy Attorney finds interest in an investment fraud lawsuit...

Other Sacramento Bankruptcy Lawyers may have also read the news sources report that California's state-run earthquake insurer is filed a law suit last week against Wells Fargo & Co.'s Wachovia unit, alleging fraud in connection with a failed $62.3 million investment. The California Earthquake Authority accused Wachovia of unlawfully and recklessly investing funs in a high-risk vehicle tied to subprime mortgage loans. Wells Fargo, which purchase Wachovia in 2008 has denied to allegations and stated that they intend to vigorously defend against this lawsuit.

In August of 2008, one of Wachovia's traders invested $62.8 million of the California Earthquake Authority's money in an investment known as Mainsail II, LLC; an entity consisting mainly of securities back by suprime residential and commercial mortgages. Mainsail was not on the "approved-issuer" list which had previously been drafted by the quake authority, making Wachovia's decision to purchase this security very risky and unauthorized.

If you have questions regarding Bankruptcy in Sacramento please contact us at (916) 492-6020 in Sacramento or (916) 724-1690 in Roseville for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced Sacramento Bankruptcy Attorneys. After you have spoken with one of our Sacramento bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Sacramento Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or legal debt settlement case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, Sacramento!

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At Sagaria Law, PC we want to guide you on the path to financial freedom and realize this is not an easy task for most. We respect your devotion to better your circumstances even with financial hardship and thus are willing to guarantee that if you retain us, we will do everything we can, legally and ethically, to help you become debt-free.

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