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Attorney 1
Attorney 1, Attorney
Category: Real Estate Law
Satisfied Customers: 2446
Experience:  Knowledgable and Experienced Attorney
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I am a real estate agent ca. there is a law suit against

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i am a real estate agent ca. there is a law suit against about 400 licensees of a viatical product approved by vanguard we sold, that also had another product on nasdaq. it put my name in it. does that make the bre not want me to be licensed as a realtor? or a big box firm?
Submitted: 8 months ago.
Category: Real Estate Law
Expert:  Attorney 1 replied 8 months ago.
Hello, and welcome. I am a licensed attorney and happy to assist. In order to do that, I need some additional information. When you said "it put my name in it," what did you mean? I look forward to your response and providing you with more information. Best,Attorney 1
Customer: replied 8 months ago.
I Am a defendant in the adversarial law suit.
Expert:  Attorney 1 replied 8 months ago.
Is this a civil or criminal matter?
Expert:  Attorney 1 replied 8 months ago.
If this is just a civil suit, it should not affect your license just because you were named. If you have reporting requirements, it is important to comply and be forthcoming. If you are personally found liable, it could affect your license. I hope this helps. If you need additional information or clarification, just let me know. If I have addressed your issue and/or pointed you in a positive direction, please let me know that, as well. Also, please remember to leave a positive rating when prompted, as that is the only way attorneys on this site are credited for the help we provide​. Good luck! Best,Attorney 1
Customer: replied 8 months ago.
They plan to do default judgements if we don't respond. If we do, it's civil but as its Texas they love to try out criminal. If I resound answer showing proof it was with BD approval they don't care. They want money. If you don't settle. They judge against you. So will it mean no more real estate ? It's 29k plus atty fees.
Expert:  Attorney 1 replied 8 months ago.
The existence of a lawsuit, in and of itself will not cause you to lose your license, but your license will be more secure if you win. The last thing you want or need is a default judgment, so be sure to timely respond to the complaint, no matter what. If possible, it may be your best bet to hire an attorney, as soon as possible. If you choose to do so, a good referral source will be your county bar association. Good luck! Best,Attorney 1
Customer: replied 8 months ago.
This "if" is the entire Basis of all law suits. But I can only answer pro se. Do you mean that is forthcoming?
Expert:  Attorney 1 replied 8 months ago.
One of two things is going on here. Either this is a valid lawsuit and you need to reply in order to protect your interests, or this is a frivolous lawsuit and you need to reply in order to protect your interests. You mentioned that there are 400 defendants, and to me, that sounds rather absurd. It may be a good idea to contact some of the other defendants to maybe share the cost of a lawyer. If you find one that already has a lawyer, you can probably hire that attorney to file a reply at minimal cost because it has already been created. If this is a frivolous lawsuit, it should not affect your license. With so many other defendants, chances are that there is already an attorney involved who plans to have the whole lawsuit thrown out, but it is not a good idea to rest on your laurels and take the chance that someone else is going to handle it. That attorney may only get the case dismissed as to his/her own client, so be proactive. If you are going tohandle this on your own, check out your county court website self-help section. You should be able to find all the forms necessary to reply, with user-friendly instructions, too. I hope this helps. If you need additional information or clarification, just let me know. If I have addressed your issue and/or pointed you in a positive direction, please let me know that, as well. Also, please remember to leave a positive rating when prompted, as that is the only way attorneys on this site are credited for the help we provide​. Good luck! Best,Attorney 1
Customer: replied 8 months ago.
I've tried several questions. But this is the northern district fort worth bankruptcy court, and the trustee of the bankrupt chap 11 company filed an adversarial suit against all sellers of the product. the web site has no self help section and a pro se area only helps people filing bk. my main question is, do realtors get fired if they have a judgement for say about 45k. not a default judgement, just a texas judgement that is from a tx judge that is just not taking any proof. Texas just wants money. it's what they do.
Expert:  Attorney 1 replied 8 months ago.
The original post indicates California, but no matter. The good news is that you are being sued by a bankruptcy trustee in an adversary proceeding. While your license could potentially be in danger if the action results in a judgment on the merits, the likelihood that this matter will end in a judgment is low. The trustee has an obligation to consider all reasonable settlement proposals. If you feel the lawsuit will result in a $45,000 judgment, you can probably settle for less (at least the cost of litigation) and negotiate a deal that does not result in any kind of judgment. I hope this helps. If you need additional information or clarification, just let me know. If I have addressed your issue and/or pointed you in a positive direction, please let me know that, as well. Also, please remember to leave a positive rating when prompted, as that is the only way attorneys on this site are credited for the help we provide​. Good luck! Best,Attorney 1
Expert:  Attorney 1 replied 6 months ago.
Please let me know if there's anything else I can do for you. I'm here to help. Best,Attorney 1

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