Did you know that there is a statute of limitation on collecting debt? That means that if a creditor or debt collection agency is attempting to get you to pay an outstanding debt that has been around a long time, they will be unsuccessful in suing you if your debt has been delinquent longer than the statute of limitations allows.The credit card debt statute of limitations varies from state to state, and you would be well advised to know what the length of time is both in your home state and in the state in which the creditor is housed. This is because the statute of limitations may apply to either place, depending on the court's decision. For example, if you live in Florida, whose credit card debt statute of limitations is five years, but the credit card company is based out of Arizona, whose time limit is three years, you may have the option of foregoing payment on the statute of limitations regulations.For the most part, it is up to the consumer to prove that a debt has exceeded the … [Read more...] about What Are the Credit Card Debt Statute of Limitations?
Florida credit card statute of limitations
The Credit Repair ProfessionalThe credit repair business requires a clear grasp of the interaction of many factors. Credit bureaus, creditors, and collectors are each regulated under their own set of federal laws. There are state laws that may supercede the federal laws. In the background of all of this activity is Fair Isaac and Company that formulates your FICO Score based on the makeup of the information on your report. Credit repair professionals must have a working knowledge of all of these factors and more.And the Not-So-ProfessionalTrue credit repair professionals provide an incredibly valuable service. But there are also those that misrepresent themselves and the services they offer. These deceptive practices will waste your money, and in some cases leave you worse off than ever. Here is our list of the top offences...Authorized User AlertSome so-called credit repair companies have been brokering "authorized user" status on credit card accounts. This involves making the … [Read more...] about Credit Repair – Avoiding Scams!
Each state in the Union has a different Statute of Limitations. Do not get confused regarding the Statute of Limitations in collecting debt versus the seven year period of reporting adverse information on your credit report. South Carolina for example has a three year statute regarding open end debts. These have been categorized as credit card debts, store card debts and gasoline cards. Home mortgages and loans do not fall into this category. This means that the amount you owe will change monthly depending on the activity of the account. This is different than an agreed contract that spells out a monthly payment for an agreed upon time limit. Be very careful to understand that IF you make a payment regardless whether or not you got caught up, the Statute of Limitations is tolled.There are also statutes of limitations regarding how long a judgement can remain on your credit report. In Florida a judgement is granted for seven years and can be renewed twice for an additional seven years. … [Read more...] about Statute of Limitations … is it Going to Protect you or Make Things Easier for the Creditor?
She's a woman of her word. A whip-cracking dominatrix, who promises to punish her "slaves" to their absolute limit, is accused of burning a $500,000 hole in an elderly man's bank account — as well as weaseling him out of his Florida home. A lawsuit filed against Judith Gumbrecht, also known as Goddess Jude, accuses the Orlando woman of bilking the 68-year-old divorcee who suffers from dementia and Alzheimer's disease, WKMG News reported. "Given his mental and physical condition, he was exploited," Alex Abrams' attorney, Brian Mark, told the station. But an attorney for Gumbrecht has slammed those claims as not only "simply false" but "absurd." "This is a case about regret, cognitive dissonance, and an attempt to get the courts involved in setting aside gifts voluntarily provided during a romantic relationship," her attorney, Larry Walters, said in an email to the Daily News. "Adults had the right to show their affection in any way they desire, in a free … [Read more...] about Dominatrix ‘goddess’ bilked sick, elderly Florida man out of $500K and home: lawsuit
Editor’s note: Attorneys at Goede, Adamczyk, DeBoest & Cross respond to questions about Florida community association law. With offices in Naples, Fort Myers, Coral Gables and Boca Raton, the firm represents community associations throughout Florida and focuses on condominium and homeowner association law, real estate law, litigation, estate planning and business law.Q: We are noticing a significant influx of corporate investors in our community with clear intentions of renting. Our board wants to limit the number of rentals in the community to preserve values. How do we do this? T.E., NaplesA: Possibly. This is a growing concern for many communities, many of which differ on whether they believe the rental situation is a problem. Legally, condominiums and homeowners’ associations (HOAs) can act to address this issue.In a condominium, there is a very important court decision which provides that rental restrictions in the … [Read more...] about Can board limit number of rentals in a community?