Lanigan & Lanigan, P.L.
831 W. Morse Blvd., Winter Park, Florida 32789
407-740-7379
Contact Us
The Law
Investment fraud can happen to anyone, however, Florida’s a state rich in scam artists because of the large number of senior citizens and retirees who reside in the state. Florida’s economy isn’t fantastic, yet it’s a state rich in retirement funds which makes Florida residents targets for investment schemes. If you’ve been taken advantage of or believe that there has been broker mismanagement of funds, fraud or securities or investment losses due to the negligence of a broker, don’t write it off as a loss. Consult with Eric Lanigan and Roddy Lanigan. The Lanigans will work with you to determine whether you can recover the losses if fraud or theft has occurred. Floridians of All Ages Have to be Careful Investors Fraudulent investments include mortgage fraud, Ponzi schemes, MLM (multi-level marketing), get-rich-quick investments, or investment losses due to irresponsible broker behaviors. Since January 2011 there have been several individuals charged or sentenced for fraudulent investments: Scott Rothstein pleaded guilty in January 2010 to five counts of racketeering, money laundering and wire fraud, admitting he sold investors interests in bogus settlements in sexual-harassment and whistleblower suits. He was sentenced to 50 years in prison for taking people for $1.2 billion in Florida, and other parts of the U.S., Europe and Asia. The FBI Miami Field Office charged five defendants in connection with violation of securities laws. Specifically, the cases charged “microcap” stock market insiders and promoters. Microcap stock refers to companies with low capitalizations, meaning the total value of the company’s stock. Microcaps usually have limited assets and its stocks tend to be low priced and trade in low volumes. To date,...
The Law
Warn, Support the Seniors in Your Family to Avoid Scams The AARP shares articles on its website about how to avoid the latest scams targeting seniors. There are tips on how to warn seniors within your family about what they could be approached with by scam artists and watch for seminars that the AARP offers on fraud protection. Winter Park attorneys Eric Lanigan and Roddy Lanigan regularly work with seniors and individuals in a variety of securities and investment losses situations to recover funds. The cases seen include class-action lawsuits against financial professionals, stockbrokers, and retirement fund account managers, who are accused of mismanagement, faulty investment advice, retirement fund misappropriation or theft. The FBI, Securities and Investment Fraud Initiative, has issued warnings in Florida alerting seniors and family members of seniors about common investment scams and fraud. Individuals with senior relatives in Florida are also told to be particularly wary of investment scams due to the large number of investment and Ponzi schemes that occur in the state. Florida’s population is the fifth oldest state in the nation according to the US Census Bureau. Retirees have more long-term savings, steady income from fixed pensions and other retirement funds than younger populations. This makes the state and seniors in Florida a marked interest to criminals who target seniors and the millions of retirement fund dollars that they hold. In an effort to protect and educate people over the age of 50, AARP information sessions are held across the country by local chapters on investment fraud, fraudulent offers that come in through direct mail, in-person, online, over the phone and on TV. Tips to Avoiding Scams Targeting Seniors...
The Law
It’s important to know a lawyers’ experience if you’ve been in an accident and are dealing with a life-altering injury. Winter Park personal injury attorney Roddy B. Lanigan works with and Eric A. Lanigan, at Lanigan & Lanigan, P.L. Eric has been practicing law in Florida for 36 years strengthening the Winter Park, Florida, firm through partnership with Roddy in 2007. Roddy Lanigan puts the full resources and legal capabilities of Lanigan and Lanigan behind every personal injury case. He works directly with clients who benefit from the one-on-one legal counsel and the immediacy of an attorney available in-person and by phone. Roddy handles all aspects of personal injury cases and is the attorney who will work with you, the client. Roddy Lanigan knows the status of the case because he’s handling its progress. Roddy is who you will speak to from the first meeting through its completion and every meeting and phone call in-between. He is available for updates, questions and concerns. He personally calls clients and returns all calls within 24 to 48 hours. Roddy writes and files legal briefs, motions, pleads cases, completes documentation, researches cases, and prepares you for every part of the process. Experience From 36 Years of Practing Law Lanigan and Lanigan, P.L., have experience representing individuals who have been tragically injured or have had physical trauma that has affected their quality of life. There are situations where families’ or individuals’ lives are changed forever due to an accident or a product failure. Then it’s up to the lawyers’ trial experience, negotiation skill, ability to manage time, billing and ultimately the outcome of a settlement that...
Bankruptcy
Don’t Lose a Rental Property to Foreclosure A Cramdown is a Bankruptcy Tool Lower investment property debt with a cramdown, a tool of the bankruptcy court to modify secured debt owed that’s other than a primary residence. A cramdown is a tool that the bankruptcy court has available to modify the amount owed on a secured debt—other than a mortgage–or similar debt on a primary residence. Nearly five million Americans lost their homes to foreclosure since the housing bubble popped between 2007-12, according to the New York Times. about 3.5 million are in foreclosure proceedings. But the worst is yet to come. In September 2011, a U.S. Senate Banking subcommittee heard testimony from a prominent mortgage industry analyst that 10.4 million mortgages, approximately one out of every five outstanding mortgages in the country, could default, if Congress does not take action to address the housing crisis. Cramdown May Modify Amount of Secured Debt Owed A secured debt is one where property is used as collateral to secure a debt. If the debt isn’t paid, the creditor gets the property. In a Chapter 13 rental property cramdown, the secured debt, i.e., mortgage on a rental, income, or investment property is reduced to the property’s market value, which is, after all, all the secured creditor could count on recovering if it had to foreclose. The cramdown is available for any sort of secured debt other than for the primary residence. It’s most commonly used for vehicles which depreciate to be worth less than their loans, as well as income or investment properties where there’s been a market downturn and the property is worth less...
Mortgage Workout
Mortgage Cramdown a Foreclosure Option on Investment Property Before you decide to let an investment property go or file bankruptcy consider a Mortgage Cramdown. When you receive papers stating that your bank will be filing foreclosure against you on an investment property consult with Eric Lanigan or Roddy Lanigan foreclosure and bankruptcy attorneys in their Winter Park, Florida, office to find out what your options may be. The basic idea of a cramdown is that a judge strips the loan into two parts: a secured loan, with a principal equal to the current value of the asset; and the equity line or the second mortgage usually an unsecured loan, with a principal equal to the rest of the original mortgage. Mortgage Cramdowns for Investment Properties The payments on the secured loan may be decided with a new principal plus an interest rate that offers a reasonable compensation for risk, possibly Prime plus one to three percent. Meanwhile, the unsecured portion is moved down in the payment queue with the other unsecured debt; very little of this is ever paid off. Congress never authorized bankruptcy judges to modify mortgages on primary residences so these cramdowns are only for investment and vacation properties. The amount of the cramdown varies by state, property value and borrower situation but usually includes a reduction in the principal amount of the loan to fair market value. The bankruptcy cramdown was part of the original language of the Helping Families Save Their Homes Act of 2009 and would have amended the federal bankruptcy law governing a Chapter 13 bankruptcy debtor to allow judges to alter the terms of mortgages...
Bankruptcy
Be Prepared for All Your Meetings After the recent economic meltdown a large number of people are falling into debt and are turning to bankruptcy or a debt consolidation program to pay off the debt. The number of people filing for bankruptcy or pursuing debt consolidation is constantly increasing. When filing for Chapter 13 bankruptcy people go to a lawyer who helps them pay creditors in compliance with a court-ordered repayment plan. Knowing how to file this bankruptcy properly with the direction of a qualified lawyer is important. Winter Park bankruptcy attorney Eric Lanigan and Roddy Lanigan will give you a questionnaire and find out who your debts are owed to in what amounts. They’ll complete all forms after you’ve provided an in-depth informational questionnaire. They’ll provide you with dates for any court appearances you must attend, and what counseling prior to filing that you will need to go through and complete. · Fill out all answers completely, accurately and according to the directions the Lanigans provide. You must provide answers honestly and complete all paperwork for the Chapter 13 as instructed. The more completely, accurately and promptly you complete your paperwork, the more quickly the process will go. Be sure to keep copies of all of your paperwork and do not give your originals away. You will not be able to get them back. · You will have to pay for and complete a session with a credit counseling organization and go through the first of two sessions online before filing your Chapter 13 bankruptcy. The counselor will ask you a few questions about your debt from the...
Bankruptcy
Judgment Proof in Bankruptcy Some individuals considering the filing for bankruptcy may not benefit much at all from a bankruptcy filing even though they are dealing with debt issues. Most individuals who are struggling with debt but would not benefit from a bankruptcy are considered judgment proof. An individual is considered judgment proof if creditors who obtain a judgment would be unable to collect anything with the judgment. The reason creditors may not be able to do anything with a collection judgment is due to the source of income of an indebted individual. If the sole source of income of an individual is social security or any other source that is off limits to creditors then the individual is judgment proof if all of his or her property is exempt as well. The attorneys at the Orlando area law firm of Lanigan and Lanigan can help you understand the many possibilities surrounding your bankruptcy filing. An individual who is considered judgment proof may, however, benefit from filing for bankruptcy. One benefit for judgment proof individuals who do file for bankruptcy is that filing for bankruptcy can cease harassment from creditors. It is common for creditors to relentlessly call individual’s regarding their debt. The bankruptcy filing process can be challenging and frustrating. Winter Park attorney Eric Lanigan or Roddy Lanigan can help you through the bankruptcy process. Call the Central Florida attorneys at Lanigan and Lanigan and set an appointment to meet with them in their office for any legal issues you may have....
Bankruptcy
The bankruptcy laws have made it very difficult and discharging student loan debt through bankruptcy is only very rarely possible with non-Federal student loans. A common source of debt for many Americans is student loans. It has recently been estimated that student loan debt in the United States has hit over 1 trillion dollars. The Internal Revenue Code Section 221(d)(1) defines student loans as “any indebtedness incurred by the taxpayer solely to pay qualified higher education expenses (A) which are incurred on behalf of the taxpayer, the taxpayer’s spouse, or any dependent of the taxpayer as of the time the indebtedness was incurred, (B) which are paid or incurred within a reasonable period of time before or after the indebtedness is incurred, and (C) which are attributable to education furnished during a period during which the recipient was an eligible student. Such term includes indebtedness used to refinance indebtedness which qualifies as a qualified student loan.” The only way to discharge a private student loan is to show undue hardship. This is a very challenging requirement to prove and highly unlikely. To get the successful discharge of a student loan, an individual must file a Complaint to Determine Dischargeability of Student Loan and have the court rule in his or her favor. Courts generally rule against the claimant in these matters. When facing the prospect of bankruptcy it is important to have the right legal counsel to guide you through your options. Winter Park, Florida, attorneys Eric Lanigan and Roddy Lanigan have experience helping clients with bankruptcy complexities and issues. Contact Central Florida attorneys Eric Lanigan and Roddy Lanigan...
Bankruptcy
Facing Eviction While Filing Chapter 7 Bankruptcy Many individuals considering filing for Chapter 7 bankruptcy are also facing the possibility of being evicted from their current residence. In the past it was not uncommon for people to file for Chapter 7 bankruptcy to prevent an eviction. New bankruptcy laws in place today have made it easier for landlords to evict tenants despite an automatic stay resulting from filing for bankruptcy. A landlord who obtains a judgment of possession before an individual files for bankruptcy is able to proceed with an eviction regardless of an automatic stay. However, there may be exceptions to this rule that may apply to your case. Winter Park lawyer Eric Lanigan and Roddy Lanigan at the law firm of Lanigan and Lanigan will be able to help you through this process. They can answer questions, help clarify next steps and provide direction on your options. A landlord may also evict a tenant if the tenant is endangering the property or using illegal drugs. To evict under these grounds the landlord must file and serve certification saying that the grounds for the eviction was endangering property or illegal use of controlled substances on the property. A tenant is able to challenge an eviction by filing an objection to truth of the statements in the certifications. The court will hold a hearing on the objection and decide whether the eviction must wait till after the bankruptcy. It is important to consult with an attorney regarding bankruptcy which is a complex process. The Winter Park attorneys at Lanigan and Lanigan have 36 years of experience helping clients file...
Bankruptcy
Creditor Harassment From Heavy Debt A common annoyance and disturbance for those struggling with debt and considering bankruptcy is persistent harassment from creditors. Many creditors will repeatedly call you at your residence and work seeking payment of your debt. Sometimes the calls will not be from creditors but instead from collection agencies. Many times creditor harassment can be stopped by simply talking to the proper party at a creditor. Sometimes the best approach is to write a letter to the party harassing you. Writing a letter can be the most effective means of stopping harassment being done by a credit agency. If you feel you have been harassed by creditors despite your best attempts to stop it, there is a remedy available for you. The Fair Debt Collections Practices Act (15 U.S.C. §§ 1692-1692o) provides those being harassed by creditors with the remedy they deserve. The Act allows an individual to recover for any damages he or she suffers as a result of the creditor harassment. This includes medical expenses that occurred due to the harassment. The Act also allows for statutory damages up to $1,000 and the collection of attorneys fees. Central Florida bankruptcy attorneys Eric Lanigan and Roddy Lanigan can help you put an end to creditor harassment. The Lanigans have assisted numerous clients with bankruptcy and foreclosure issues. For all your legal needs contact Lanigan and Lanigan located in Winter Park, Florida. Set an appointment for your initial consultation. When you file bankruptcy you’ll turn your calls from creditors over to the Lanigans. Upon filing bankruptcy the calls will...
