Dyck O’Neal Lawsuits in Orlando, FL

I was at the courthouse the other day looking at lawsuits filed in Orange County in State Court. I only looked at lawsuits filed during May 2014.

There were over 100 lawsuits filed by Dyck O’Neal Inc against various defendants.  Again, this is Orange County alone.  It does not include other counties that makes up Metro-Orlando/Central Florida.

Who is Dyck O’Neal?

“Dyck-O’Neal, Inc., incorporated in 1988, is a leading nationwide purchases, collector and servicer of real estate deficiencies, first and second mortgage notes and promissory notes. We proactively recover charged-off assets both for our clients and on our own behalf.”  (From www.dyckoneal.com)

They are a Debt Collector!

Most likely, you had a foreclosure and now this company is suing you for the deficiency on what was owed on the mortgage and what the property was worth, or sold for at the time of auction.

I met with a woman last week who lost the home to foreclosure about 4 years and 11 months ago.

That is right… they beat the statute of limitations by one month.

She is considering a chapter 7 bankruptcy to eliminate an almost $100,000 deficiency lawsuit.

Why is Dyck O’Neal suing me?

I touched on it above…  they are a debt collector.  They probably bought your debt from the mortgage lender for pennies on the dollar and are now trying to collect the deficiency.

Under the old Florida foreclosure law, for cases filed prior to July 2013, the lenders had 5 years to collect on a deficiency.

Under the new Florida foreclosure law, for cases filed from July 2013 going forward, the deficiency period is shortened to one year.

Hopefully if you did a short sale, you had a deficiency waiver.  If not, you might sweat out the deficiency period to see if you have to deal with this company, or a similar company.

But my old mortgage was charged-off!

I highlighted that word above.  Did you notice it before?  Go back up and look again… I’ll wait…

“We proactively recover charged-off assets both for our clients and on our own behalf.”

There is a huge misconception with consumers and debtors.  They will say: but my credit shows that debt was charged off, so they cannot collect anymore!

Charged-off on a credit report does not mean the debt cannot be collected.  It simply means the original creditor has written it off their books. It is an accounting term.

The original creditor has sold the debt to a collector and charged-off the debt.  But the collector, Dyck O’Neal is now suing you for the debt.

Call me at (407) 749-0080, or contact me, to see how I might be able to help with your lawsuit or collection activity.