Judgment Collection

Are Stocks Pledged For Margin Loan Vulnerable To Writ of Garnishment?

One of my clients has a securities account at a national stock brokerage company with about $300,000 of liquid, marketable securities. The client borrowed about $230,000 from the brokerage company “on margin” so that the loan is secured by the stocks in the account. The client has a judgment against…

Lender’s Demand For Spouse’s Signature On Promissory Note or on Loan Guarantee May Violate Federal Law According To Florida Court

Institutional lenders understand well Florida’s tenants by entireties protection, and they understand that they may not be able to enforce promissory notes against a married borrower unless the note is signed by both the borrower and his spouse. For this reason, most lenders will insist on joint signatures to loans…