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Nemeth & Associates Co., L P A Reviews (4)

This business response was received by Revdex.com via email.Dear [redacted] :Thank you for providing the information in this complaint and giving me anopportunity to respond All of the information in this response is either amatter of public record or has already been disclosed to you by [redacted] , and so no there are no issues relating to client confidentiality.It is correct that Matthew B [redacted] and I combined our firms on May 1, 2011and maintained a joint practice until May 1, MrB [redacted] worked outof an office in Amherst, Ohio I worked out of the office in Cleveland,Ohio[redacted] states that he met with MrB [redacted] in the Amherst office andwas told by MrB [redacted] that if he filed a bankruptcy separately from hiswife, he could discharge his wife's obligation on a car loan she co-signed,by removing her name from the title I wasn't present during this allegedconversation, and it is difficult for me to accept that MrB [redacted] told himthat.Most of our clients understand that the purpose of having a co-signer is toprotect the lender in the event one of the debtors files bankruptcy or isotherwise unable to pay If that happens, the lender may then collect fromthe co-signer The belief that someone could file bankruptcy and therebyautomatically get the co-signer off the hook is remarkably naïve It's sobasic a concept that it's very difficult for me to believe that MrB [redacted] told him that My guess is that MrB [redacted] told [redacted] that if hecould get his wife removed from the note, that she would have no furtherobligation That is correct.Assuming, however, that MrB [redacted] did make that statement, and [redacted] accepted it at face value even though it defies logic, there is nolegal remedy [redacted] suggestion that I should call [redacted] and try to get them to release his wife from her obligation would be futile[redacted] is a large national lender who understands its rights It is notgoing to concede To discharge her obligation, [redacted] must either payit, negotiate a settlement, or file her own bankruptcy When spouses electto not file a joint bankruptcy when they have joint debt, they run thisrisk This is a routine discussion we have with our married clients whowish to file separately.In reviewing [redacted] chapter repayment plan, I see that the plancalled for paying the principal owed to [redacted] in full withinterest at the market rate over years In chapter 13, debtors arepermitted to reduce the rate of interest to the market rate In this case,the market rate of interest was percent for both loans The contractrate of interest for the [redacted] was percent; the contract ratefor the [redacted] was percent [redacted] was paid in fullfor the principal owed on both cars, and was paid interest at percentfor both cars The only thing [redacted] was not paid was the difference in theinterest rates between the contract and the market rate When I crunch thenumbers, it appears that [redacted] may be overstating the amount they are owedby the co-signer.With regard to the [redacted] , when I amortized the principal balance of theloan at the contract rate of interest over the term of the plan, the totalamount that would have accrued (principal and interest) is $37, Thetrustee's records show that he paid $32,[at the market rate] whichmeans that there is a shortfall of $4, If [redacted] isattempting to collect $5,343.87, then [redacted] should request anaccounting because it appears it is attempting to collect $1,morethan it is entitled.Similarly, the total amount that [redacted] should have received for the [redacted] loan at the contract rate of interest is $11, The trustee's recordsindicate that it received $10,[at the market rate] so the amount theco-debtor should be required to pay is $ If [redacted] is attempting tocollect $1,144.44, [redacted] should request an accounting for the samereason.You should know that ethical considerations and the terms of our insurancepolicy indicate that we are not permitted to provide representation tosomeone who has not been formally retained the firm [redacted] has doneso, but his wife has not Accordingly, we are not able to speak on herbehalf, as [redacted] requests.My suggestion to [redacted] is that his wife contact [redacted] , negotiate,and make arrangements to pay She should also request an accounting to seewhy [redacted] appears to be charging her more than it is owed It may be thatthey are including late charges; and they may be willing to negotiate awaiver of those.Thanks again Please contact me if you would like any additionalinformation.Richard HN***Nemeth & Associates, LLC [redacted] ***Cleveland, OH 44114-1998** [redacted] ** [redacted] ** [redacted] [redacted] Member, Board of DirectorsNational Association of Consumer Bankruptcy Attorneys

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]I appreciate Mr N*** responding, however, this does not solve the problem I find it absurd that my wife should be liable for the remainder of this debt I fulfilled my obligations under the contract presented to me by his firm Any remaining balance should be satisfied by his firm as I did as I was instructed If this cannot be completed, I will have no choice but to report it to the Cleveland Bar Association I would like to avoid this and have this matter resolved without further actions. Thanks,
*** ***

Yesterday I spoke with Matthew B[redacted] the person [redacted] claims told him that by removing his wife from the title of his vehicles, she would not be liable for the debt.  Mr. B[redacted] told me that, although he does not specifically remember [redacted], he would never tell a prospective client that because, 1) it is not true and doesn't even make sense; and 2) he doesn't believe a lender, who would be in possession of the title, would cooperate in allowing a debtor to do that.  Mr. B[redacted] then did a title search for [redacted] vehicles and determined that [redacted] did not transfer title of the vehicles out of his wife's name anyway.  Specifically, the database [redacted] reviewed showed that [redacted] remained the title owner of the [redacted] until it was sold to [redacted] on March 25, 2017.  She remains an owner of the [redacted] which is still owned by her.  Mr. B[redacted] states that the database he reviewed is not 100% reliable, so he ordered a title report from the state of Ohio Bureau of Motor Vehicles.  Once he obtains it, he will provide it to the Revdex.com.  I dictated an affidavit for Mr. B[redacted] to sign indicating that he would never tell a prospective client that taking a co-owner's name off the title of a vehicle would relieve that person from liability.  Once I receive it back from Mr. B[redacted], I will provide a copy to the Revdex.com.  In any event, it is clear that [redacted] is not reporting the facts correctly to the Revdex.com.  Even if [redacted] did tell him that taking his wife off the title would relieve her from liability [he did not tell him that], it doesn't matter because [redacted] never removed her from the title anyway.   Richard N[redacted] Attorney at Law.

This business response was received by Revdex.com via email.Dear [redacted]:Thank you for providing the information in this complaint and giving me anopportunity to respond.  All of the information in this response is either amatter of public record or has already been disclosed to you by [redacted],...

and so no there are no issues relating to client confidentiality.It is correct that Matthew B[redacted] and I combined our firms on May 1, 2011and maintained a joint practice until May 1, 2013.  Mr. B[redacted] worked outof an office in Amherst, Ohio.  I worked out of the office in Cleveland,Ohio.[redacted] states that he met with Mr. B[redacted] in the Amherst office andwas told by Mr. B[redacted] that if he filed a bankruptcy separately from hiswife, he could discharge his wife's obligation on a car loan she co-signed,by removing her name from the title.  I wasn't present during this allegedconversation, and it is difficult for me to accept that Mr. B[redacted] told himthat.Most of our clients understand that the purpose of having a co-signer is toprotect the lender in the event one of the debtors files bankruptcy or isotherwise unable to pay.  If that happens, the lender may then collect fromthe co-signer.  The belief that someone could file bankruptcy and therebyautomatically get the co-signer off the hook is remarkably naïve.  It's sobasic a concept that it's very difficult for me to believe that Mr. B[redacted]told him that.  My guess is that Mr. B[redacted] told [redacted] that if hecould get his wife removed from the note, that she would have no furtherobligation.  That is correct.Assuming, however, that Mr. B[redacted] did make that statement, and [redacted] accepted it at face value even though it defies logic, there is nolegal remedy.  [redacted] suggestion that I should call [redacted]and try to get them to release his wife from her obligation would be futile.[redacted] is a large national lender who understands its rights.  It is notgoing to concede.  To discharge her obligation, [redacted] must either payit, negotiate a settlement, or file her own bankruptcy.  When spouses electto not file a joint bankruptcy when they have joint debt, they run thisrisk.  This is a routine discussion we have with our married clients whowish to file separately.In reviewing [redacted] chapter 13 repayment plan, I see that the plancalled for paying the principal owed to [redacted] in full withinterest at the market rate over 5 years.  In chapter 13, debtors arepermitted to reduce the rate of interest to the market rate.  In this case,the market rate of interest was 4.25 percent for both loans.  The contractrate of interest for the [redacted] was 9.29 percent; the contract ratefor the [redacted] was 7.99 percent.  [redacted] was paid in fullfor the principal owed on both cars, and was paid interest at 4.25 percentfor both cars.  The only thing [redacted] was not paid was the difference in theinterest rates between the contract and the market rate.  When I crunch thenumbers, it appears that [redacted] may be overstating the amount they are owedby the co-signer.With regard to the [redacted], when I amortized the principal balance of theloan at the contract rate of interest over the term of the plan, the totalamount that would have accrued (principal and interest) is $37,221.65.  Thetrustee's records show that he paid $32,942.42 [at the market rate] whichmeans that there is a shortfall of $4,279.23.  If [redacted] isattempting to collect $5,343.87, then [redacted] should request anaccounting because it appears it is attempting to collect $1,064.64 morethan it is entitled.Similarly, the total amount that [redacted] should have received for the [redacted]loan at the contract rate of interest is $11,139.04.  The trustee's recordsindicate that it received $10,150.58 [at the market rate] so the amount theco-debtor should be required to pay is $988.46.  If [redacted] is attempting tocollect $1,144.44, [redacted] should request an accounting for the samereason.You should know that ethical considerations and the terms of our insurancepolicy indicate that we are not permitted to provide representation tosomeone who has not been formally retained the firm. [redacted] has doneso, but his wife has not.  Accordingly, we are not able to speak on herbehalf, as [redacted] requests.My suggestion to [redacted] is that his wife contact [redacted], negotiate,and make arrangements to pay.  She should also request an accounting to seewhy [redacted] appears to be charging her more than it is owed.  It may be thatthey are including late charges; and they may be willing to negotiate awaiver of those.Thanks again.  Please contact me if you would like any additionalinformation.Richard H. N[redacted]Nemeth & Associates, LLC[redacted]Cleveland, OH  44114-1998**  [redacted]
**  [redacted]
**  [redacted] [redacted]
Member, Board of DirectorsNational Association of Consumer Bankruptcy Attorneys

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