Legal Question in Civil Litigation in Florida

Used 3rd party lender for loan against long term military annuity

I used a 3rd party lender to borrow money against my long term military annuity, which I received as result of a military injury. Before I could make payment, I was hospitalized for 17 months where I was unable to manage my finances and make loan payments. The 3rd party lender is trying to take the entire annuity payouts by placing stop payment on my annity. What can I do to keep this from happening? I am not sure what area of law this situation falls under.


Asked on 1/08/08, 7:00 pm

2 Answers from Attorneys
James R. Becker, Jr. Becker Law Firm

Re: Used 3rd party lender for loan against long term military annuity

There may be some issues with military law which may provide some relief. You may want to contact a JAG officer about this. Otherwise, what you have is a contract/collection matter. The bulk of your rights are going to be governed by the contract you signed.

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Answered on 1/08/08, 8:25 pm
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

Re: Used 3rd party lender for loan against long term military annuity

You need to look at your contract. They are typically horribly one sided and overly favor the "lender." They are usually horrible deals. All those stupid commercials that push these loans paint such rosey pictures when the details of the contract are onerous. I wish there was an easy fix, but you will need to look closely at the contract itself for your rights.

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Answered on 1/08/08, 9:29 pm


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