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Surplus funds, also known as overages, refer to the excess money that remains after a foreclosed property is sold at auction and the outstanding debts (including the mortgage and taxes) are satisfied.
We specialize in helping individuals like you reclaim surplus funds from foreclosure auctions. We initiate a thorough investigation to identify if surplus funds exist in your case, and if so, we guide you through the legal steps required to recover those funds.
Eligibility criteria can vary by jurisdiction and case. Generally, you might be eligible if you were the previous property owner, lienholder, or someone with a valid claim to the surplus funds.
We'll need documents like foreclosure notices, auction details, and property ownership records. Our team will guide you on exactly what's required based on your case.
Our experienced team reviews the auction records and assesses the property's sale price against outstanding debts. If there's a surplus, we'll proceed with the recovery process.
We have successfully helped numerous clients recover surplus funds across various jurisdictions. Our team includes legal professionals and experts well-versed in surplus funds recovery processes.
We often work on a contingency basis, meaning we only get paid if we successfully recover funds for you. Our fees are a percentage of the recovered funds. There's generally no upfront fee.
Absolutely, we can provide references from clients who were satisfied with our services and successfully received their surplus funds.
The timeline varies, but it can take a few months to a year, depending on the complexity of the case and the specific jurisdiction.
We can't guarantee success, but our team will carefully assess the details of your case and provide an honest evaluation of your chances of recovery.
Yes, we generally work on a contingency basis, ensuring that we are motivated to achieve the best outcome for you.
Our team includes legal experts who are well-versed in the legal requirements of surplus funds recovery in various jurisdictions. We'll guide you through every step to ensure compliance.
We'll provide you with a clear timeline and milestones, outlining key stages such as document collection, claim submission, and distribution of recovered funds.
Yes, we will handle all communication and interaction with the relevant parties to streamline the process for you.
In case of disputes, our experienced team will work to resolve them. We'll leverage our legal expertise to ensure your interests are protected.
While recovery is the goal, there can be no guarantees due to legal complexities and specific case circumstances.
Absolutely, we're knowledgeable about the laws and regulations in various jurisdictions and will guide you accordingly.
Yes, we have a clear and transparent written agreement that outlines the terms and conditions of our services.
Yes, we believe in open communication. We'll keep you informed at every step and provide updates on the progress of your case.
Our company combines legal expertise with a commitment to personalized service. We prioritize our clients' interests and work diligently to maximize their chances of recovering surplus funds.
In bankruptcy cases that have assets, the Trustee pays out money collected from liquidating the assets to creditors who have filed claims in a particular case. Sometimes, the money paid out by a Trustee, always issued as a check, is returned by the post office as undeliverable or the check is not cashed within 90 days. By law, in Chapter 7 and Chapter 13 cases, the Trustee is required to deposit those funds to the court as unclaimed. In most cases, the Claimant did not receive the check and it was returned to the Trustee as undeliverable typically because the claimant had moved and did not report the change of address to the court and the Trustee. The Clerk of the Bankruptcy Court will hold these funds for several years. The unclaimed funds are still subject to the claims of Creditors even after they are turned over to the Clerk. It should be noted that the claimants due unclaimed funds consist of both commercial and non-commercial creditors and that some of these unclaimed funds are in significant amounts. In fact, a recent estimate of the amount of unclaimed funds held by the Bankruptcy Courts or the U.S. Treasury is staggering—in excess of $200 million.
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