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CONSUMER e-ALERT
(November 9, 2009)

“Knowledge is Power-The mort knowledge you have, the more powerful you are.”

COLLECTION AGENCIES AND HOW TO STOP THE CALLS

FACTS

There are two different Fair Debt Collection Practice Acts. One is federal and does not apply to the original credito.. The other is the California State Rosenthal Fair Debt Collection Practices Act and applies to the original creditor as well. It is important when you object to the debt you cite the name of the act and the code sections. This creates the impression (which in this case is true) that you are in communication with an attorney and should make them comply. The code sections are: 1. Federal Fair Debt Collection Practices Act. 15 U.S.C. Sections 1692-1692p; and 2. California Rosenthal Fair Debt Collection Practices Act. California Civil Code Sections 1788-1788.33.

To stop the calls just tell the person pursuant to the above acts (cite them) please do not telephone me again. That should stop all calls. That leaves the person with the alternative to write or sue.

If the collector writes, the letter usually states if you dispute the debt you must do so in 30 days. I recommend within ten days. You address the letter in a business type fashion and you can state:

The debt listed in the letter you sent me dated (insert date) is disputed. A copy of your letter is enclosed herein. Proof of the debt in detail is demanded pursuant to the Federal Fair Debt Collection Practices Act (15 U.S.C. Sections 1692-1692p) and pursuant to the California Rosenthal Fair Debt Collection Practices Act (Civil Code Sections 1788-1788.33). Then sign and send letter certified mail return receipt requested to prove delivery and to show the collection agency you can prove they received it. To the left of the name and address in the letter put “certified mail, return receipt requested, receipt no. (insert the number of the ceritified mail receipt).

This should give you relief until the send the proof. You want the itemized list.

Some collectors request postdated checks. Do not do it. Debts at this stage are highly negotiable. Since you are emotionally involved in the problem let someone else (if you can) negotiate for you. In some cases the debt collector goes away but it may be assigned or sold to another collector. Repeat the process if a different collector is trying to collect the same debt.

Debts by law are only allowed to remain on a credit report for seven years from the original date.

MORAL

This is a summary only and should not be totally relied upon and is definitely not legal advice because each case differs on the facts. This is a starting point and helps relieve stress by demanding proof of the debt. The code sections can be reviewed on line by using Google among other search engines. I trust this is of some use to the consumer.

UNEMPLOYMENT RATE AT END OF OCTOBER 2009 WAS 10.2% HOWEVER PEOPLE CAN STILL PROTECT THEIR ASSETS LEGALLY FROM CREDITORS

FACTS

The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast. Payrolls fell by 190,000 workers in October 2009 compared with a 175,000 drop anticipated by the median forecast of economists surveyed by Bloomberg News, figures from the Labor Department published on November 6, 2009. The jobless rate gained from 9.8 percent in September and exceeded 10 percent for the first time since 1983. (azrep11609)

MORAL

Notwithstanding the unemployment people can still protect assets from creditors. In filing bankruptcy, assets up to a little over $20,000 can be protected for you the consumer when you have no real property and if you own a home, assets can be protected to over $150,000 if you are eligible. Bankruptcy is a way to relieve stress and remove a lot of credit card debts so you can get a fresh start in life. But you should not cash in your retirement or 401k retirement. This is protection for you and your family. If you have any questions contact me or Jozef Magyar at the office at 714-667-8529.

THE INFORMATION CONTAINED HEREIN IS NOT LEGAL ADVICE.
AN ATTORNEY SHOULD BE CONSULTED IF YOU DESIRE LEGAL ADVICE

SEMINARS
DATE: None scheduled at this time. If you have a particular area you are interested in let us know and if enough people would like to attend we can arrange the seminar. There will be no cost to you.
SUBJECT:
TIME:
LOCATION:
CONTACT; Loretta Lee-Toll Free 667-6529

Areas that may interest you are:
1. Estate Planning for your family and/or protection of your assets. Wills, Trusts and Health Care Directives. Family trusts
2. Personal Injury. What are your rights? How do attorneys determine their fees? What are the risks when you sue or are sued for personal injury?
3. Dissolution of Marriage or Legal Separation. Advantages and disadvantages of each. How to protect your assets for your children in the event of remarriage.
4. Real Estate- Do you really have to list your property for 6 months with one real estate broker. How to change the listing agreement. How to “hedge your bets when making or accepting an offer on Real Estate so that you have an escape clause.
These and other subjects are available. Just le me know at 888-667-8524

BANKRUPTCY

Remember: If your home is oversecured, a Chapter 13 bankruptcy may be able to remove that second and even third mortgage by making it unsecured. Taxes under certain circumstances are dischargeable in bankruptcy. Bankruptcy can give you a fresh start. If you have questions give us a call.

CURRICULUM VITAE

Our firm has been practicing law for over 37 years, the last 19 of which are at the exact same location in Hutton Centre, Santa Ana California where the 405 and 55 freeways meet. The firm attorneys represent numerous clients in California and nationally in personally injury, bankruptcy, estate planning and creditor litigation and negotiation. During the course of the firm’s history Mr. Thordsen has served as a pro tem judge in Traffic Court in West Los Angeles, Small Claims and Traffic in West Court in Orange County and Family Law Court in Los Angeles.

We have available personal injury attorneys including “super lawyers” who have obtained multi-million dollar verdicts and settlements as a matter of course where people are unfortunately catastrophically injured. We are counsel to numerous trade groups including the Arizona Association of Mortgage Broker (AAMB), Central Coast Chapter-(CAMB), Central Valley Chapter-(CAMB), East Bay Chapter-(CAMB), Inland Empire Chapter-(CAMB), Monterey Bay Chapter-(CAMB), North Bay Chapter-(CAMB), North San Diego Chapter-(CAMB), Orange County Chapter (CAMB), San Diego Chapter-(CAMB), San Francisco Peninsula Chapter-(CAMB). Silicon Valley Chapter-(CAMB), South Los Angeles Chapter-(CAMB) and the San Fernando-Santa Clarita Chapter of NAHREP. Mr. Thordsen has been a member of the Advisory Board of the Mortgage Banking and Real Estate Appraisal Programs at California State University, Fullerton. Mr. Thordsen has been a member of the California Department of Real Estate Solicitation Task Force Committee and the California Department of Motor Vehicles Anti-Fraud Task Force.

He is a panel member of the Los Angeles Police Department Protective League

We represent clients in wage and overtime violation cases and personal injury cases on a contingency fee basis and d wage disputes before various labor boards including minimum wage, overtime and unemployment compensation issues.
If we may be of service in these areas or estate planning and asset protection, please contact us, and one of our attorneys will discuss the matter with you.

Remember- - - You are the client. You come first and you are in effect our boss. You can terminate our relationship at any time for any reason or no reason at all. As attorneys we are here to serve you.

Chris Miscellaneous