Debt Collection Attorneys Beware: Debtors are Learning The Law to Fight For Their Rights

As record numbers of homeowners default on their mortgages, questionable practices among lenders are coming to light in courts, leading some legal specialists to contend that companies instigating foreclosures may be taking advantage of imperiled borrowers. Mr. Julio Martinez-Clark, a businessman and a seasoned real estate investor, has done extensive research on debt collection law and announces the release of his upcoming book, "How To Legally Beat Debt Collectors," in which he provides legal education to average individuals victims of the deceptive tactics of the debt collection industry.

According to Mr. Martinez-Clark's research, in the last past weeks there have been important events unknown by many homeowners and individuals facing debt collection lawsuits. In a study of foreclosures, Katherine Porter of the University of Iowa found questionable fees on almost half of the loans and discovered that though bankruptcy laws require documentation that a creditor has a claim on the property, 4 out of 10 claims in Ms. Porter’s study did not attach such a promissory note. The second event is a court ruling on October 31, 2007 in which a federal judge in Ohio has ruled against a longstanding foreclosure practice, potentially creating an obstacle for lenders trying to reclaim properties from troubled borrowers and raising questions about the legal standing of investors in mortgage securities pools. The third event is another ruling on November 15, 2007 by a federal judge in Ohio who has given lenders 30 days to prove that they own the promissory notes on the properties they intend to seize from troubled homeowners in 27 other cases.

Mr. Martinez-Clark leveraging on his many years of real estate investing and dealing with homeowners in foreclosure and in financial hardship, has written what perhaps will be the first published book that teaches basic law concepts to empower individuals facing debt collection lawsuits such as foreclosure, credit card breach of contract, etc. Among other issues, the book brings to the public eye that It has long been a common practice for lenders to bring foreclosure proceedings without attaching proof of ownership of the underlying note. Tracking down such documentation may be more challenging because of securitization, the pooling of mortgages into trusts that are subsequently sold to investors. On his new book, Mr. Martinez-Clark provides more than 300 pages of legal education, sample letters, pleadings, etc that any individual can use to
defend himself in court with or without an attorney.

The proliferation of legal education books and events such as the ones named above are a waking call for the lending and legal industries; thus making the job of a debt collector attorney more difficult after enjoying decades of easy judgments against individuals who don't know their rights. Mr Martinez-Clark says…"As Ms Porter's study suggests, if one were to carefully analyze debt collection cases, one would probably discover that many of them lack legal standing due to insufficient proof of claims. The amount of debt collection void judgments in our courthouses is perhaps so vast, that it’s almost impossible to estimate how many there are. If every void judgment were vacated with damages, the whole financial and legal system would crumble perhaps representing an unprecedented shift in wealth."

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About the Author: Julio Martinez-Clark has a Bachelor's degree in Electrical Engineering (B.S.E.E), a Master of Business Administration (M.B.A.) and extensive domestic and international business experience in the telecommunications and real estate industries. Mr. Martinez-Clark has been a victim of the deceptive practices of the debt collection industry and has done extensive research on debt collection law. He is the author of a book titled “How To Legally Beat Debt Collectors” available at www.Beat-Debt-Collectors.com and soon at major bookstores.