The Law Offices of Ronald P. Slates, P.C.
Call Our team Schedule A Consultation 866-904-6965

March 2017 Archives

Getting At Those Revocable Trust Assets

Collecting upon a judgment is not for the faint of heart. Unless there is insurance or a solvent debtor, getting the judgment is only half the battle. The real theater comes after the client has expended considerable sums getting to the judgment only to learn that the debtor typically doesn't just cut a check to the creditor. Instead, many debtors see the writing on the wall and engage in what we in the business call "asset protection." Nothing is more frustrating than finding out that between the time the judge signed the judgment and the abstract of judgment was recorded, the debtor has transferred his residence to a newly set up revocable trust. For many debtors, their home is often the sole source of recovery for a judgment creditor.

Cracking the Shell Game

Creditors: Did you know that you can add an individual as the alter ego of a corporate judgment debtor post-judgment?

Requirements for Litigation Under the FDBCA

The FDBCA prohibits a debt buyer from filing suit or initiating arbitration or other legal proceedings to collect a consumer debt if the applicable statute of limitations on the debt buyer's claim has expired. See, California Civil Code § 1788.56. When a debt buyer does file suit, the Act includes nine specific requirements that must be included in the allegations of the complaint, as follows:

Debt Validation Requirements

Under the FDBPA, if the debtor makes a written request to the debt buyer "for information regarding the debt or proof of the debt" then the debt buyer must provide the debtor, within 15 calendar days and without charge, all of the information or documents required by sections 1788.52(a) and (b) of the Act. See, California Civil Code § 1788.52(c). If the debt buyer cannot provide the documents or information within 15 calendar days, then it must cease further collection efforts until it does provide the documents and information.

The Basics of the Fair Debt Buying Practices Act

On January 1, 2014, the California Fair Debt Buying Practices Act ("FDBPA") went into effect. The Act, which is intended to provide more protections to consumers whose debts have been sold to a debt buyer, only applies to these debt buyers. It does not apply to creditors, collection agencies, or collection attorneys.

How Can We Assist You? Schedule A Consultation today.

Contact our commercial collections lawyers at our firm to discuss your and your clients' business, commercial collections and enforcement of judgements' issues. The skilled and experienced team of attorneys at our downtown Los Angeles law offices offers hourly and blended fees (discounted hourly plus partial contingent fee) to our clients.

Call us at 213-599-7004 today or fill out the form below to get started.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Get Started
Map Marker

The Law Offices of Ronald P. Slates, P.C.
500 S. Grand Ave.
#2010
Los Angeles, CA 90071

Toll Free: 866-904-6965
Phone: 213-599-7004
Fax: 213-624-7536
Los Angeles Law Office Map