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credit union vehicle reaffs
This is not new. Credit unions have a clause in their agreements that state any collateral they have for any loan is collateral for all of their loans.
If you get your client to trade in the car before the bk is filed, using noncredit union financing, the collateral vanishes and you won't have the credit union later refusing to turn over the pink slip until all loans are repaid.
d
Dennis McGoldrick, 350 S. Crenshaw Bl., #A207B, Torrance, Ca 90503 310-328-1001-voice
> On Feb 3, 2014, at 2:09 PM, "Desiree Causey" wrote:
>
> Many credit unions agreements now contain a cross collaterization provision between secured loans such as automobiles and unsecured debts like credit cards. I saw this with a client last fall and checked with my credit union about the policy and found that my CU did so as well. This may be a trend we see more of.
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> Desiree Causey, Esq.
>
> Law Office of Desiree Causey
>
> 17011 Beach Blvd., Suite 900
>
> Huntington Beach, CA 92647
>
> causeylaw@gmail.com
>
>
>
> 714-375-6663
>
> 714-908-7646 (fax)
>
>
>
> Any tax advice contained in the body of this e-mail (and any attachments thereto) was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.
>
> Privileged And Confidential Communication.
> This electronic transmission, and any documents attached hereto, (a) are protected by the Electronic Communications Privacy Act (18 USC 2510-2521), (b) may contain confidential and/or legally privileged information, and (c) are for the sole use of the intended recipient named above. If you have received this electronic message in error, please notify the sender and delete the electronic message. Any disclosure, copying, distribution, or use of the contents of the information received in error is strictly prohibited.
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> Please consider the environment before printing this e-mail.
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Leventhal Law Group, P.C.
> Sent: Monday, February 03, 2014 1:21 PM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] credit union vehicle reaffs
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> Heads up they often try to slip in the cc debt with the auto.
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> Jonathan Leventhal, Esq..
> Leventhal Law Group, P.C.
> 818-347-5800
>
> This email and any attachments thereto may contain private, confidential, and privileged material for the sole use of the intended recipient. Any review, copying, or distribution of this email (or any attachments thereto) by others is strictly prohibited. If you are not the intended recipient, please contact the sender immediately and permanently delete the original and any copies of this email and any attachments thereto.
>
> Leventhal Law Group, P.C. is a Debt Relief Agency under federal law.
>
> Note: The Leventhal Law Group, P.C. does not represent you until a written fee agreement has been signed by you and a representation ive of the Leventhal Law Group, P.C. and all fees listed in the agreement have been paid.>
> -------- Original message --------
>
>
> Date:02/03/2014 12:50 PM (GMT-08:00)
>
> To: cdcbaa@yahoogroups.com
>
> Subject: [cdcbaa] credit union vehicle reaffs
>
>
>
>
>
> Just curious, has anyone in here ever had a credit union seek to repossess a vehicle of a debtor that did NOT reaffirm the debt with them?
>
>
> *************************
> Mark J. Markus
> Law Office of Mark J. Markus
> Mailing Address Only:
> 11684 Ventura Blvd. PMB #403
> Studio City, CA 91604-2652
> (818)509-1173 (818)509-1460 (fax)
> web: http://www.bklaw.com/
> Certified Bankruptcy Law Specialist--The State Bar of California Board of Legal Specialization
> This Firm is a Qualified Federal Debt Relief Agency
> ________________________________________________
> NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
> IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.
>
>
>
>
>
The post was migrated from Yahoo.
To: cdcbaa@yahoogroups.com
X-Yahoo-Newman-Id: groups-system
Many credit unions agreements now contain a cross collaterization provision
between secured loans such as automobiles and unsecured debts like credit
cards. I saw this with a client last fall and checked with my credit union
about the policy and found that my CU did so as well. This may be a trend
we see more of.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
causeylaw@gmail.com
714-375-6663
714-908-7646 (fax)
Any tax advice contained in the body of this e-mail (and any attachments
thereto) was not intended or written to be used, and cannot be used, by the
recipient for the purpose of avoiding penalties that may be imposed under
the Internal Revenue Code or applicable state or local tax law provisions.
Privileged And Confidential Communication.
This electronic transmission, and any documents attached hereto, (a) are
protected by the Electronic Communications Privacy Act (18 USC
2510-2521), (b) may contain confidential and/or legally privileged
information, and (c) are for the sole use of the intended recipient named
above. If you have received this electronic message in error, please notify
the sender and delete the electronic message. Any disclosure, copying,
distribution, or use of the contents of the information received in error is
strictly prohibited.
Please consider the environment before printing this e-mail.
The post was migrated from Yahoo.
X-Yahoo-Newman-Id: groups-system
Many credit unions agreements now contain a cross collaterization provision
between secured loans such as automobiles and unsecured debts like credit
cards. I saw this with a client last fall and checked with my credit union
about the policy and found that my CU did so as well. This may be a trend
we see more of.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
causeylaw@gmail.com
714-375-6663
714-908-7646 (fax)
Any tax advice contained in the body of this e-mail (and any attachments
thereto) was not intended or written to be used, and cannot be used, by the
recipient for the purpose of avoiding penalties that may be imposed under
the Internal Revenue Code or applicable state or local tax law provisions.
Privileged And Confidential Communication.
This electronic transmission, and any documents attached hereto, (a) are
protected by the Electronic Communications Privacy Act (18 USC
2510-2521), (b) may contain confidential and/or legally privileged
information, and (c) are for the sole use of the intended recipient named
above. If you have received this electronic message in error, please notify
the sender and delete the electronic message. Any disclosure, copying,
distribution, or use of the contents of the information received in error is
strictly prohibited.
Please consider the environment before printing this e-mail.
The post was migrated from Yahoo.
Heads up they often try to slip in the cc debt with the auto.
Jonathan Leventhal, Esq..
Leventhal Law Group, P.C.
818-347-5800
This email and any attachments thereto may contain private, confidential, and privileged material for the sole use of the intended recipient. Any review, copying, or distribution of this email (or any attachments thereto) by others is strictly prohibited. If you are not the intended recipient, please contact the sender immediately and permanently delete the original and any copies of this email and any attachments thereto.
Leventhal Law Group, P.C. is a Debt Relief Agency under federal law.
Note: The Leventhal Law Group, P.C. does not represent you until a written fee agreement has been signed by you and a representation ive of the Leventhal Law Group, P.C. and all fees listed in the agreement have been paid.
Date:02/03/2014 12:50 PM (GMT-08:00)
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] credit union vehicle reaffs
Just curious, has anyone in here ever had a credit union seek to repossess a vehicle of a debtor that did NOT reaffirm the debt with them?
*************************
Mark J. Markus
Law Office of Mark J. Markus
Mailing Address Only:
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
Certified Bankruptcy Law Specialist--The State Bar of California Board of Legal Specialization
This Firm is a Qualified Federal Debt Relief Agency
________________________________________________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.
Heads up they often try to slip in the cc debt with the auto.
Jonathan Leventhal, Esq..
Leventhal Law Group, P.C.
818-347-5800
This email and any attachments thereto may contain private, confidential, and privileged material for the sole use of the intended recipient. Any review, copying, or distribution of this email (or any attachments thereto) by others is strictly prohibited. If
you are not the intended recipient, please contact the sender immediately and permanently delete the original and any copies of this email and any attachments thereto.
Leventhal Law Group, P.C. is a Debt Relief Agency under federal law.
Note: The Leventhal Law Group, P.C. does not represent you until a written fee agreement has been signed by you and a representation ive of the Leventhal Law Group, P.C. and all fees listed in the agreement have been paid.
-------- Original message --------
Date:02/03/2014 12:50 PM (GMT-08:00)
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] credit union vehicle reaffs
Just curious, has anyone in here ever had a credit union seek to repossess a vehicle of a debtor that did NOT reaffirm the debt with them?
*************************
Mark J. Markus
Law Office of Mark J. Markus
Mailing Address Only:
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
Certified Bankruptcy Law Specialist--The State Bar of California Board of Legal Specialization
This Firm is a Qualified Federal Debt Relief Agency
________________________________________________
NOTICE: This Electronic Message contains information from the law office of Mark J. Markus that may be privileged. The information is intended for the use of the addressee only. If you are not the addressee, note that any disclosure, copy, distribution or use
of the contents of this message is prohibited.
IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i)
avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication.
The post was migrated from Yahoo.