Lynn Ellen Coleman

I offer personal, compassionate assistance with debt and consumer law issues.

St. Mary's University School of Law

J.D. | Law

1983 - 1986

Trinity University

B.S. | History, Political Science

1979 - 1982

North Carolina State Bar

Member

Current

National Association of Consumer Advocates

Member

2010 - Current

National Association of Consumer Bankruptcy Attorneys

Member

2009 - Current

North Carolina Bar Association

Member

1999 - Current

North Carolina

Since 2000

Texas

1986-2000

• Free Consultation
  I offer a free online or telephone consultation.
• Credit Cards Accepted
  Debit cad only for bankruptcy. Credit card (all major cards) for other areas.
• Contingent Fees
  For certain consumer law cases only.
• Rates, Retainers and Additional Information
  I offer flat fees, contingency fees, and hourly fees depending upon the nature of the case.

Arbitration & Mediation

Business Arbitration, Consumer Arbitration, Family Arbitration

Bankruptcy

Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Relief

Collections

Consumer Law

Lemon Law

Foreclosure Defense

• General Civil

Q. My car is collateral for a loan I have with one main financial company. Can I voluntarily surrender the car?

June 21, 2022

A: Unfortunately, it is impossible to answer this question in a public forum like this because a detailed analysis of your financial situation - income, expenses, assets, and debts - will be required. You do not want to expose that kind of personal information on a public forum. I can say in very general terms that OneMain is typically very generous with "refinance" options to lower payments on loans. Depending upon the term of the loan refinance offered, that may not be very smart. You can wait until the debt goes to a collection agency and work out a payment plan. That will hurt your credit because the collection account will show as a negative for 7+ years even if you stick to the payment plan on time and pay it off. You could also consult with a qualified NONPROFIT consumer credit counseling your area such as Family Service of the Piedmont. Nothing beats a personal consultation with an attorney over asking for specifics like this in a public, online forum that can be read by anyone - including your OneMain loan officer who might recognize you by anything specific you post on here. I'm not critical of you asking the question, but surely you must understand this forum has its limitations. We are only allowed to givegenral advice here.

Q. My car is collateral for a loan I have with one main financial company. Can I voluntarily surrender the car?

June 20, 2022

A: This will have a negative effect on your credit. You can try to voluntarily surrender the car. OneMain is NOT required to take the car in satisfaction of the loan. They can refuse to come pick up the car or take the car. They also don't have to release the lien on the title if they refuse to take the car. Instead, they will report your account as delinquent to the credit bureaus and eventually "charge off" the unpaid balance. Even if they do take the car, they will sell it and if the sale price is not high enough to pay off the loan, you are still responsible for the unpaid balance of the loan. They can sue you and get a judgment for the balance including all of the late fees and added interest. The end result is you will owe a much larger balance and have possession of a car that you can't sell. Even if they do not sue and get a judgment, the negative remarks will remain on your credit report for about 7 and a half years. If you are having financial problems and can no longer afford to make the loan payment, you should have a consultation with a local consumer bankruptcy attorney. He or she will explain all of your options - non bankuptcy options and bankruptcy options. Many offer free consultations.

Q. Can I remove a debt collection charge if I can provide proof that I am not responsible for the debt?

June 15, 2022

A: You are asking a hypothetical question. Typically a property management company would not submit this kind of thing to a credit bureau until after you move out because they would simply take the fee out of your security deposit. Assuming that the landlord reports a debt of $35 plus late fee to a credit bureau, or any collection amount, you have the right to file a dispute with the credit bureau. Send in your written dispute with all of your proof to the address shown on the credit report for mailing in a dispute. Do NOT submit the dispute online. Save a copy of the letter and all attachments and send the letter certified mail with a tracking number you can look up the tracking online. Print and keep a copy of the tracking. The credit bureau then asks the proeprty management company to validate/verify the information. If the property management company verifies the debt is legitimate, the credit bureau will note that you dispute the account, but the report will remain. The only way the report will be completely removed is if the property management company fails to respond to the request for validation/verification or of the management company chooses to remove it.