Client Matters

Gallagher & Associates Law Firm, P.A. May 2009
In This Issue
Increased Court Filing Fees
Credit Card Bill of Rights
Foreclosure Prevention Plan
St. Patrick's Day Party
Foreclosure Case Profiled
April Fools Email
Email Directory
$2000 Court Filing Fee...Its No April Fools
By: Charles R. Gallagher III

If you are looking to file a civil lawsuit in the near future, its going to cost you quite a bit more if Senate Bill 1718 passes.  The bill sponsored by Victor Crist, R-Tampa, would increase civil court filing fees from $295 to $1000 or $2000 depending on the value of the case. 
 
Proponents of the bill argue that it is necessary to keep the courthouse doors open due to budget constraints.  Opponents contend that it will result in the denial of access to the courts and will price out many lower value legitimate claims.  If passed, Florida would have the highest court filing fees in the nation.
 
The bill received support in committee and a vote will soon be set on the measure.
 
Senate Bill 1718 was profiled by 10 Connects.  The interview can be seen here: 10 Connects Story
 
Credit Card Bill of Rights  
 
On Thursday the House of  Representatives approved a bill to restrict credit card practices and eliminate sudden increases in interest rates and late fees.  The legislation, the Credit Card Holders' Bill of Rights, passed by a bipartisan vote of 357-70 following lobbying by President Barack Obama and members of his administration. The measure prohibits so-called double-cycle billing and retroactive rate hikes and would prevent companies from giving credit cards to anyone under 18.  Additionally, customers get 45 days' notice before their interest rates are increased.
 
The House measure incorporates Federal Reserve regulations due to take effect in July 2010 but goes further by adding restrictions for credit cards for college students as well as other changes. Payments made by card holders that exceed the minimum monthly level would have to be applied first to the portion of the remaining balance with the highest interest rate, and then to any other balances in descending order.

*Consumers would have to be notified 30 days before their accounts are closed.
*Double-cycle billing eliminates the interest-free period for consumers who move from paying the full balance monthly to carrying a balance.
*Opponents tried vainly on the House floor to temper a fast-moving bill with amendments that would have given credit card issuers some openings to raise rates within the proposed restrain
Foreclosure Prevention Program
 
The Obama Administration recently released its Foreclosure Prevention Program, aimed at arresting the current foreclosure crisis.  The administration has targeted $75 billion for the plan which is expected to assist 5 million homeowners. 
 
The plan includes cash payments for mortgage holders who choose not to foreclose on borrowers.  It also includes payments to mortgage servicers (not actual lenders) for successful modifications. ($1000 up front and $1000 each year that the modification is effective up to 3 years).  Borrowers can expect reduced rates, some as low as 2%.  Also included in the plan are refinancing and modification incentives.  
 
One of the most significant measures includes changes in bankruptcy laws to allow judges to restructure home loans in court.  However, this only applies to owner occupied homes (no investment properties).  Included in this modification option is a new formula for calculating monthly payments. Mortgages will be restructured so that home payments account for no more than 31% of the borrower's gross monthly income.  Unfortunately, only loans insured or owned by Fannie Mae and Freddie Mac will be part of the program.  Sadly, this segment of the bill did not pass.
 
St. Patrick's Day Party

St Paddys Day

 
Thank you to all our clients and friends of the firm that attended our St. Patrick's Day Party.  The weather cooperated and we had a great turnout.  We hope you all had a great time.  Plans are under way for a 4th of July BBQ and Happy Hour.  Details to follow.
Foreclosure Case Profiled on Channel 13 
 
Fox 13 recently profiled a G&A foreclosure defense case, where Fox 13's Consumer Lawyer Eric Seidel discussed the defense of standing.  Often times lenders transfer the note and mortgage from lender to lender.  In order to bring a lawsuit to foreclose the mortgage, the lender must prove to the court that they are the rightful owner of the note and mortgage.  Demanding that the lender provide an Assignment of Mortgage is an effective tool in defending residential foreclosure actions.
 
April Fools Email
 
As you may recall, last month we decided to skip our regular content and send out an April Fools Newsletter.  We hope you all enjoyed it and it brought a smile to your face.  Thanks for all your comments in connection with our April Fools Email.  To that end, I am happy to report that Jeri is enjoying her time on The Hills, we have complied with the Bar's dress code and the NCAA looks to relent on their mascot attack.
G&A News & Notes
 
-Tracy Evans has joined the firm as a law clerk.  She is a third year law student at Stetson College of Law.  She is a graduate of FSU.  
 
-Eileen McGee has also joined the firm as a law clerk.  She is a second year student at Stetson College of Law and a graduate of University of Florida.  Prior to law school Eileen worked as an insurance adjuster.
 
-Pye Young, Erika Mariz and Charles Gallagher spoke to local high school students on the rights and responsibilities of being an adult as part of Law Day.
 
-Charles Gallagher was featured on Your Turn with Kathy Fountain on Fox 13 to discuss GM's potential bankruptcy.

-On April 16  Charles Gallagher and Erika Mariz presented a talk on Estate Planning and Probate Issues at the City of St. Petersburg's Lunch and Learn.
 
-Pye Young and Charles Gallagher presented Landlord Tenant & Real Estate Law at the Peoples Law School at St. Petersburg College.
 
-G&A sponsored the Stetson/St. Pete Bar Mixer on April 22 at Stetson College of Law.
G&A Email Directory
   
Charles R. Gallagher III crg@attorneyoffices.org
 
Erika Mariz   
 
Joseph F. Milligan
 
Tracy Evans
 
Eileen C. McGee
 
    Ginny Keeter-Bodkin ginny@attorneyoffices.org
 
   Christine Heise chris@attorneyoffices.org  
  
 
Cynthia Corder

Gallagher & Associates Law Firm, P.A. accepts cases throughout the Tampa Bay area.  Our main practice areas include: insurance litigation, real estate & business litigation, accident/injury litigation, consumer law, and employment litigation.  www.attorneyoffices.org

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