AboutMichael Brotherton Expertise Consumer/Debtor Rights Advocate.
Current President of Financial Emergency, Inc FKA Debt Mediation & Financial Counseling. Inc, a debt mediation service.
30 years in the credit and collections industry. Former loan officer and debt collector. Managed two middle to large finance companies.
I am well versed in Loss Mitigation practices and the legal collection process. I have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. It is my opinion that the more informed you are of your rights in the credit and collections practices the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mediation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser)
Experience Former loan officer 23 of last 30 years. I have been a debt counselor and mediator since 1992. Current owner of Financial Emergency, Inc. A Debtor Advocacy organization. I also have a radio program called "Financial Emergency" where I routinely answer call in questions from listeners about credit, debt, and the collection system. My emphasis is on "Consumer/Debtor Protection" and the collection process.
Education/Credentials Many years hands on experience. No formal eduction other than Finance and Credit Management training through former employers where I managed two rather large finance companies.
Awards and Honors Numerous letters of recognition from previous employers for excellence in my field.
Expert: Michael Brotherton Date: 12/29/2007 Subject: Defaulted on an auto loan. Served court papers.
Question I took out a loan for a vehicle for my ex-husband in 2005. He defaulted on the loan and the auto was repossesed in 2005. Three days ago I was served papers to appear in court over this issue. I don't have the money and I cannot afford to make payments. I just took out a loan for a used vehicle for myself and I own outright another vehicle (1996 Toyota 4 Runner) What will happen when I go to court? How can I resolve this? I'm scared!!! Please help! Thank you. Mona Silva
Answer First and foremost relax. You cannot pay what you don't have. It is unfortunate though that you are being held responsible. If you wish to contest the loan you may write the courts or
"answer" the complaint. This means you will need some legal reason to dispute the debt. Financial hardship is not a defense. They will likely get a judgment but then they have to find assets in order to attach them. Keep your balances low in checking and savings. If you live in a state that allows garnishment of paychecks you may have to deal with that but if they don't know where you work they cannot gx your check. You may write them and offer a payment plan for something you can afford. Don't let them intimidate you into paying more than you can afford. If they are aggressive and start taking your check or other assets you need to protect your family and your job. Contact a Bankruptcy attorney and consider filing a chapter 13 or chapter 7. Don't panic. Tell the judge your hardship and that you cannot afford to pay at this time. Don't let it go indefinitely without payment because the debt can grow substantially and become unmanageable. You may also sue your ex-husband for non payment and try to get him to pay it.
