Mariner Finance: Aggressive Default Loan Tactics Exposed

Mariner Finance is a credit card issuer that offers personal loans ranging from $1,000 to $25,000. The company caters to borrowers with poor credit or a history of bankruptcy and operates in 27 states across the US. Mariner Finance has been accused of violating consumer protection laws by charging extra for products that consumers did not request. The company has also been known to sue consumers who default on their loan obligations, seeking default judgments that can prevent individuals from purchasing homes or cars and affecting their employment prospects.

Mariner Finance sues consumers who default on payday loans

Mariner Finance is a national, branch-based, consumer finance company that offers personal loans to customers. The company has been known to sue consumers who default on payday loans. Mariner Finance counts on the fact that the consumer will not respond or show up to court. If the consumer does not respond, the company may take a default judgment against them. This judgment can be collected for ten years in Texas and twenty years in Florida, and it can be renewed, giving Mariner Finance ample time to pursue the consumer.

Consumers may believe that a judgment is a worthless piece of paper and that they cannot be forced to pay. However, this is incorrect. Judgment creditors can garnish bank accounts, file a motion for receivership to access funds at any time, and prevent the sale or purchase of assets such as homes or automobiles. They can also deny loans and employment opportunities.

Mariner Finance has faced complaints and legal action related to its debt collection practices. In one instance, a class-action lawsuit was filed against the company, resulting in a $1.5 million settlement. Additionally, 11 states and Washington, D.C., have filed a lawsuit against Mariner Finance, alleging violations of consumer protection laws.

If you are facing a lawsuit from Mariner Finance, it is important to take action and respond to the complaint. Doing nothing can result in adverse consequences, as mentioned above. Some possible options to consider are:

• Negotiating a settlement with Mariner Finance before the answer is due. The company may be receptive to a quick settlement to avoid further legal costs.
• Answering the lawsuit and challenging Mariner Finance to provide documentation and prove that the debt is owed.
• Seeking legal assistance to understand your rights and develop a defence strategy.

The company files lawsuits to collect on defaulted balances

Mariner Finance is a credit card issuer that sues consumers to collect on defaulted balances. The company files lawsuits against consumers in an attempt to collect the debt they feel is owed to them. They often count on the fact that the consumer will not respond or show up to court. If the consumer does not respond, Mariner Finance may take a default judgment against them and then ultimately have their bank accounts frozen. Judgment creditors can also garnish wages.

In Texas, a judgment can be aggressively collected for ten years and can be renewed if the judgment is not satisfied. This gives Mariner Finance a long time to come after the consumer. A judgment can prevent consumers from purchasing homes and cars, and an employer may deny employment. Judgments do keep increasing in value as they carry a state minimum interest rate that judgment creditors often calculate.

In Florida, a judgment can be aggressively collected for twenty years and can be renewed if the judgment is not satisfied. This gives Mariner Finance a long time to come after the consumer. A judgment can prevent consumers from purchasing homes and cars. Judgment creditors can garnish bank accounts and take the money. They can file a motion for receivership, which allows them to remove money at any time from the bank account.

If you have been sued by Mariner Finance, it is recommended that you answer the lawsuit. Participants in the system often have a better outcome than those that do nothing. Some options that you have are to attempt to negotiate a settlement with Mariner Finance before the answer is due or answer the lawsuit filed by Mariner Finance. Even if a consumer thinks they owe a debt, it is still up to Mariner Finance to prove that they own the debt, have the right to file suit, and have enough documentation to prove a debt is owed.

Consumers can be held accountable for up to 20 years in Florida

Mariner Finance is a credit card issuer that sues consumers to collect on defaulted balances. They file lawsuits against consumers, counting on the fact that they will not respond or show up to court. If the consumer does not respond, Mariner Finance may take a default judgment against them. In Texas, a judgment can be aggressively collected for 10 years and even longer if they keep renewing the judgment. Similarly, in Florida, a judgment can be aggressively collected for 20 years and can be renewed. This gives Mariner Finance a long time to come after consumers.

Judgment creditors can garnish bank accounts and remove money at any time. They can also stop the sale or purchase of a home or automobile. A judgment can prevent consumers from obtaining loans and employment, purchasing homes and cars, and an employer may deny employment. Judgments do keep increasing in value. They carry a state minimum interest rate that judgment creditors often calculate.

In the case that a consumer is sued by Mariner Finance, they have several options. Firstly, they can attempt to negotiate a settlement with Mariner Finance before the answer is due. Many consumers recognize they may owe a debt and choose to attempt to settle the debt before an answer is due in court. Mariner Finance is often receptive to a quick settlement rather than spending more time and money on a lawsuit. Secondly, even if a consumer thinks they owe a debt, it is still up to Mariner Finance to prove that they own the debt, have the right to file suit, and have enough documentation to prove a debt is owed.

As of April 2024, 11 states and Washington, D.C., have filed a lawsuit against Mariner Finance, alleging violation of consumer protection laws. The suit claims the company charged extra for products that consumers didn’t request. A court denied Mariner Finance’s motion to dismiss all claims, allowing the lawsuit to proceed. The company, meanwhile, disputes the allegations. Mariner Finance states that the Federal Trade Commission and multiple state attorneys general investigated similar claims in 2018 and took no action.

Mariner Finance offers loans to those with poor credit

Mariner Finance is a credit card issuer that sues consumers who default on their loans. The company has been accused of counting on the fact that consumers will not respond or show up to court, allowing Mariner Finance to take a default judgment against them. This judgment can be aggressively collected for 10 years in Texas and 20 years in Florida, with the potential for renewal, giving Mariner Finance a long time to pursue the debtor.

Despite this aggressive approach, Mariner Finance does offer loans to those with poor credit. The company provides personal loans ranging from $1,000 to $25,000, with loan terms between 12 and 60 months. Mariner Finance does not list a minimum credit score requirement and considers applicants with a history of bankruptcy, subject to underwriting requirements. The application process can be completed in about five minutes online, by phone, or at a branch.

Mariner Finance is one of the few lenders that allow co-signers who are not family members. They offer both secured and unsecured loans, with the option to pursue a secured loan if the unsecured loan rates are unattractive. Secured financing is available for new and used cars up to 10 years old.

It is important to note that Mariner Finance has faced legal issues, with 11 states and Washington, D.C., filing a lawsuit in 2024, alleging violations of consumer protection laws. The company disputed these claims, stating that similar investigations in 2018 resulted in no action.

While Mariner Finance may provide loans to those with poor credit, it is essential for borrowers to carefully review the terms and conditions, be mindful of potential risks, and ensure they understand their rights and responsibilities.

The company has been sued for violating consumer protection laws

Mariner Finance is a credit card issuer that sues consumers who default on their loan obligations. The company has been accused of counting on the fact that consumers will not respond or show up to court, allowing them to take a default judgment against them. This judgment can be aggressively collected for up to twenty years in some states, giving Mariner Finance a long time to pursue the consumer.

Mariner Finance has been sued for violating consumer protection laws. As of April 2024, 11 states and Washington, D.C., filed a lawsuit against the company, alleging that it charged consumers for products they did not request. The lawsuit claims that Mariner Finance "charged consumers for hidden add-on products that consumers either didn’t know about or didn’t agree to buy." The company disputes these allegations, stating that similar claims were investigated in 2018 by the Federal Trade Commission and multiple state attorneys general, who took no action.

The consequences of a default judgment can be severe for consumers. Judgment creditors can garnish bank accounts, taking money at any time. They can also prevent the sale or purchase of homes or automobiles and interfere with employment opportunities. These judgments can remain in public records for a long time, increasing in value and carrying a minimum interest rate.

When faced with a lawsuit from Mariner Finance, consumers have several options. They can choose to negotiate a settlement with the company before the answer is due or answer the lawsuit, requiring Mariner Finance to prove that they own the debt, have the right to file suit, and provide sufficient documentation. Seeking legal assistance and bankruptcy protection are also options for consumers facing these lawsuits.

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