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Loan Default in Michigan - Will my Credit Union or Regional Bank Pursue Me for the Debt?
Posted by AcclaimLegalService
In general, banks are becoming more aggressive in pursuing loan deficiency claims. From our experience, small regional banks and credit unions are much more likely to pursue collection on a loan default simply because:
- They cannot absorb losses like larger banks;
- They do not receive government funding to offset losses.
What…
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Prior to filing a Chapter 13 Reorganization, one of my biggest concerns was “how will this affect my credit?” After talking with one of the attorneys at Acclaim Legal Services, they showed me that a Chapter 13 would allow me to consolidate my bills based on my…
Just wanted to thank you for all your help settling our deficiency with the bank.
After finding out the bank wanted us to pay the difference between what we owed them on the house and what they sold it for, I didn’t know which way to turn…the thought of possibly loosing our building kept…
The help I received from acclaim was invaluable! Considering the complexity of bankruptcy, I’m especially thankful for the assistance of my attorney in establishing a plan and initiating the process. I’m also thankful for the ongoing help of paralegal Nicole…
I would like to extend a special thank you to your firm, especially Cindy Millns and our attorney – they were both very helpful in this whole process very reassuring. I would recommend your firm to anyone that needs assistance!