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Why the Financial Crisis is Still Making Legal Support Vital for Bankruptcy and Foreclosures

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Why the Financial Crisis is Still Making Legal Support Vital for Bankruptcy and Foreclosures

August 09
23:52 2019

In the field of litigation, one of the most sensitive and potentially ruinous areas of dispute relates to financial matters, and these can come to the fore in a range of scenarios. Complex matters involving mortgages, bankruptcy, debt collection and tax issues carry their own unique challenges and processes, and handled in the wrong way they can have devastating consequences.

Harry J Ross is a Boca Raton bankruptcy lawyer who specializes in many forms of finance-related litigation. He cites the global financial crisis of 2008 as being the source of regular legal issues that have required his input, and principal in this is mortgage foreclosure litigation.

Missed mortgage payments, default notices and foreclosure notices have been a near-constant series of issues since the collapse of the sub-prime mortgage market that sparked the financial crisis. The legal team of Harry J Ross works to disrupt and halt altogether the process of troubled homeowners losing their house, by providing a defense in mortgage foreclosure proceedings or reopening default judgments.

This can involve a range of options, such as ensuring mortgage companies comply with state and federal laws that protect consumers; filing lawsuits for owners who have fallen foul of predatory lending or fraud; and filing a Chapter 14 bankruptcy – this can help homeowners who have fallen behind on mortgage payments to catch up, and also to take care of other debts.

The price of buying a home in the local Boca Raton area can also be an issue for people, and the Harry J Ross legal team often sees clients who are keen to modify their mortgage to handle the expense. This is also an option when homeowners have received default and foreclosure notices because they have been unable to keep up with their repayments. The legal team can take some immediate action to defend homeowners and negotiate with mortgage lenders for more preferable rates through reducing the interest rate, changing a variable rate back to a fixed rate, or agreeing a longer loan term.

Bankruptcy is another related area that the Harry J Ross legal team is experienced in handling. It does not just relate to mortgages and there is action that can also be taken to address credit card debt. An approach called credit card debt workout means the Harry J Ross legal team can renegotiate aspects of the debt so the client pays back a lower amount rather than the original sum owed. In many cases, a creditor will agree to this because they realize they will get nothing back if their debtor enters complete bankruptcy – the Harry J Ross legal team is experienced in handling such negotiations and ensuring all relevant state and federal laws are correctly followed.

Dealing with tax issues can arguably be the most complex aspect of a person’s finances, with complicated terminology and various laws to understand. The Harry J Ross legal team can support people in any disputes with the IRS, including negotiating with them to accept smaller, more affordable repayments from clients who are struggling financially.

“In all financial matters we handle on behalf of clients, we are also able to use civil mediation to avoid drawn-out legal conflicts,” says a spokesperson for Harry J Ross. “In most cases, it is a mutually preferable process of reaching compromises on both sides, and encouraging them to agree to an outcome that is reasonable for both.”

About Harry J Ross

Harry J Ross, Attorney at Law, is based in Boca Raton, Florida, and has practiced law since 1990. His team works across a number of areas of law practice, including bankruptcy, mortgage foreclosures and tax issues. His website is at https://www.hjrlaw.com/contact-civil-litigation-lawyer/  and the team can be followed on social media at Facebook and LinkedIn.

Media Contact
Contact Person: Harry Ross, Attorney at Law
Email: Send Email
Phone: 561-482-2400
Address:6100 Glades Road, Suite 211
City: Boca Raton
State: Florida 33434
Country: United States
Website: https://www.hjrlaw.com/