Represents Clients In Sequestration Or Replevin Actions (Recovering Collateral That Is Not Real Estate) In Counties In Texas.
The filing of sequestration is necessary when the borrower refuses to surrender the collateral. The first step is to send a demand letter. The fair Debt Collection Practices Act (“FDCPA “) requires that a debt collector provide the borrower 30 days in which to request verification of the debt. The FDCPA 3o-day period and the loan document periods may run at the same time, if an attorney sends the right-to-cure demand letter while the FDCPA 30-day period in which to request verification will not lengthen the time necessary prior to file suit.
Following the expiration of 30 days, a lawsuit is prepared, along with an application for sequestration and an Order approving the Writ of Sequestration. Once the pleadings are filed, they are presented to the Judge for entry of the Order for a writ of sequestration. The Court will set a bond amount in the Order. A bond must be obtained prior to service of the Writ of Sequestration. We have experience with several insurers who can help us obtain a bond in your case. After the bond is obtained the writ is served by the sheriff or constable. The collateral is either surrender and picked up or we will file a motion to have the borrower placed in jail until they comply with the Court’s order to surrender the collateral.