Legal Question in Banking Law in Florida

consumer loan in litigation with a federal credit union

I recieved a letter from the litigation department at the credit union in Dade City, Florida of a jeep I returned and it was auctioned off. There is a balance owed and the credit union has threated me with a lawyer and court fees in addition to what I owe them. Should I put my house up for collerator which I owed to consolidate the other loans which I am up to date with and add the amount I owe on the consumer load. What should I do and if I don't fill out a paper for a loan and use my home for collerator what should I do? I am suppose to do it sometime on Wednesday, November 23, 2007. I need advise regarding what will happen to me if I don't do the loan application and use my home for collerator.


Asked on 11/20/07, 10:01 pm

1 Answer from Attorneys
Michael Stewart Michael D. Stewart

Re: consumer loan in litigation with a federal credit union

Have they already sued or are they threatening to? Your house, if it is homestead, is protected. You should get a lawyer to work this out for you, without risking your house.

Read more
Answered on 11/20/07, 10:52 pm


Related Questions & Answers

More Banking Law questions and answers in Florida