Being contacted by a debt collector is stressful enough. It can be even worse when the company contacting you is also a law firm. However, law firms like Coastal Law Firm have to abide by the same rules and restrictions that other debt collectors do. They are also able, and in many cases quite willing, to settle the balance of what debtors owe for substantially less money.
That’s where The Fullman Firm comes in. We help our clients negotiate debt settlements that save them not only money but time and headaches dealing with collectors. Have you been contacted by Coastal Law Firm? If so, it’s time to consider how debt settlement can help you.
The Basics About Coastal Law Firm
The California Department of Financial Protection & Innovation maintains a list of debt collectors whose license to collect is pending review. That list includes, as of this writing, Coastal Law Firm, A Professional Law Corporation (which may be listed as Coastal Law Firm, APLC). ”Pending” means the company can continue engaging in debt collection while the state reviews its application for a full license. That means, for now, the company can legally contact debtors to try to collect.
Coastal Law Firm is located in Newport Beach, California. As a law firm, it represents creditors that try to collect on non-federal student loans, among other debts. Iver Capital Corporation in Lake Forest, California is one particular client of Coastal Law Firm.
Coastal’s business practices have drawn a number of complaints over the years, including:
- Attempting to collect on a debt not owed
- Suing a debtor without proper notification of a lawsuit
- Taking or threatening an illegal action
What Are Your Rights As A Debtor?
Even though Coastal Law Firm is a law office, its attorneys are required to follow the same state and federal laws that other debt collectors must follow. These laws are designed to prevent abusive collection tactics, including:
- Calling debtors early in the morning or late at night
- Calling debtors at work after being instructed not to
- Using obscene or profane language over the phone or in written correspondence
- Threatening or intimidating debtors, for example by threatening imprisonment over a debt
- Failing to properly identify themselves as debt collectors
- Discussing the debt with co-workers or family members
Debt collectors are required to provide the debtor with basic information about what they allegedly owe, such as:
- The identity of the original creditor
- The balance of the debt
- A statement informing the debtor of the right to dispute the debt within 30 days
Steps to Take If You Are Contacted By Coastal Law Firm
If a debt collector like Coastal Law Firm contacts you, it is important to determine, first, whether the debt is actually yours. While this may seem obvious, many debtors actually end up paying on accounts they don’t even owe due to clerical errors or negligence on the part of the debt collector. This is especially true for individuals who have common names like John Smith.
If you are not comfortable talking with Coastal Law Firm or you need help disputing the debt, The Fullman Firm can assist you.
What Do I Do If Coastal Law Firm Sues Me?
Since Coastal Law Firm is a law office, the company may sue you without using standard collection tactics like phone calls and letters. A lawsuit includes a summons and complaint. The summons instructs you to answer the complaint, and the complaint contains the factual allegations against you.
It is important that you read the complaint closely and identify any errors, which again do happen often in debt collection lawsuits. Debtors generally have only 30 days after being served with a complaint to file an answer. You should not answer a debt collection lawsuit without the assistance of a skilled attorney, since there are substantive and procedural rules that must be followed to protect your rights.
What Comes After Being Served with A Lawsuit?
Once you are served with court papers, don’t ignore the lawsuit. This can lead to a default judgment being entered against you. Answering the lawsuit lets you assert any legal defenses you have, like an expired statute of limitations.
If you actually owe the debt, Coastal Law Firm will likely obtain a judgment against you. That judgment can then be used to garnish your wages, seize money from your bank account, place a lien on your property, and force the sale of property to satisfy the debt.
For these reasons and more, it’s time to consider debt settlement.
How Debt Settlement Can Work For You
Debt collectors are often eager to settle with debtors since trying to obtain money can be difficult even after a judgment is entered. This gives the debtor leverage to negotiate a debt settlement.
Typically, the debtor will make a lump sum payment for less than the total owed on the debt. The debt collector, in turn, wipes out the balance. However, negotiating a debt settlement is not something you should do on your own. There are various tricks that collectors use such as orally agreeing over the phone to a settlement and refusing to honor it later.
Our firm is experienced with negotiating debt settlements that are legally binding on the collector. That gives our clients the peace of mind of knowing that once the debt is paid (for less than what was owed), it’s gone forever.
We’re Ready to Serve You Today
Don’t deal with debt collector harassment and stress any longer. If Coastal Law Firm has contacted you demanding payment, The Fullman Firm is ready to help you settle the account once and for all. Give us a call today.
