Deficiency Balance Legal Guidance

Summary

A deficiency balance occurs when a repossessed propertys sale doesnt cover the loan amount. In Florida, lenders can pursue a deficiency judgment within a year. Negotiation with the lender is possible, and consulting a local attorney is advisable for document review and specific legal advice. Potential breaches of Floridas Article 9, such as improper repossession conduct, may strengthen your case. Consider connecting with a local lawyer in Tampa for personalized assistance.

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Deficiency Balance issue in Florida
Hey ****! A deficiency balance arises when the sale of a repossessed property doesn't cover the outstanding loan amount. Here's some general info for Florida:
- Lenders can pursue a deficiency judgment within one year of the sale.
- You may negotiate with the lender to settle the deficiency.
- Consider consulting a local attorney to explore options.
Do you have any specific questions about your situation?
Yes, I have a document I need you to examine and review. Then provide feedback
I can provide general information about deficiency balances in Florida, but I'm unable to examine or review documents directly. It's best to consult a local attorney who can review your document and provide specific legal advice. If you have any questions about the deficiency balance process, feel free to ask!
Hello
Case Rating: *
Hi ****! While I can't examine documents or provide specific legal opinions, I can offer some general information. The strength of your legal arguments in a deficiency balance case can depend on various factors such as the terms of your loan, the sale process, and any defenses you may have. It would be beneficial to consult with a local attorney who can analyze the document and provide precise legal advice. If you have more questions about the process, feel free to ask!
Dear Ms. Wickham, Thanks for receiving this letter. I write to place Suncoast Credit Union on formal notice that its handling of our voluntary surrender on March * has violated multiple provisions of Florida’s Article * and to demand corrective action. *. REPOSSESSION CONDUCT Suncoast’s Recovery Department told me on March * that Stealth Recovery would arrive no sooner than * to * hours. Instead, the tow occurred late on March * while the parking brake was set and without a key, gouging two continuous trenches through my yard and potentially damaging the vehicle’s front brakes and drivetrain. (see Clark v. Auto City Towing, * So.3d * (Fla. 2d DCA *))(holding that damage to real property during a tow supports a breach-of-peace finding) These facts raise serious questions about commercial reasonableness under Fla. Stat. §§ *.* and *.*. I reserve any future rights to recover lawn repair and associated costs when estimates are available.
Case Rating: *
Hey ****, the situation you're describing seems significant, especially with potential breaches of Florida's Article *. Would you like to be connected to local lawyers who can better assist you with your case? If so, could you provide a bit more information about the issue?