full service private investigation agency
info@flgulfcoastpi.com
(941) 894-9108

Surplus Trustee


               

Florida Surplus Trustee

Gulf Coast Investigative Solutions, LLC is licensed by the Florida Department of Agriculture & Consumer Services as a Class "A" Private Investigative Agency (FL #A1000149) and certified by the Florida Department of Financial Services as a Florida Surplus Trustee in accordance with Chapter 45, Florida Statutes.

Gulf Coast Investigative Solutions, LLC specializes in the recovery of surplus funds generated at foreclosure sales and ensures the timely disbursement of those funds to the rightful party, and we have a proven reputation for delivering quality results.  Our team is dedicated to providing both a superior customer experience along with a tremendous value to our clients.

Gulf Coast Investigative Solutions, acting on behalf of our clients, will take all the steps necessary to recover the monies you are entitled to resulting from the forced sale of your home.  There is never any out-of-pocket expense to you at any time during the entire process, and we pay all legal expenses and related fees necessary as part of the recovery process.  We work on contingency, meaning that we don’t get paid until we collect surplus funds on your behalf.  Our attorneys have many years of experience with these matters and have the experience it takes to get the job done correctly and in a timely manner.

We would love the opportunity to assist you in recovering your surplus funds.  Please feel free to give us a call or send us an email to schedule a free, no commitment consultation.  Again, we never charge our clients any upfront fees or anything out-of-pocket. 

Questions?  Call Us Today: (941)894-9108


FAQ’s

Why have you contacted me?

Because we believe you are owed surplus funds as a result of a judicial sale.

As a Certified Surplus Trustee, we are appointed by County Clerk's offices across Florida to locate individuals who are owed surplus money stemming from state court foreclosure sales.

 
What is a Surplus?

When the high bidder at a public auction bids in excess of the total amount of the plaintiff's judgment, there is a surplus.  The party entitled to the surplus must apply to the court to recover the surplus funds.  Florida Statutes limit the time for parties to file with the court to recover the surplus, so time is of the essence.  Prior to applying for the funds, the party seeking recovery must perform its due diligence to ensure that the funds belong to the party and not to junior lien holders.  Once the appropriate searches are performed, then the party seeking recovery must file a motion with the court and appear at a formal hearing before a judge to request the funds. 

What is a Surplus Trustee?

A Surplus Trustee is a private investigative agency who has been certified by the Florida Department of Financial Services to receive surplus appointments.

In order to qualify for certification and appointment in the State of Florida, a Surplus Trustee must comply with the requirements set forth in Chapter 45, Florida Statutes. To remain in compliance, Surplus Trustees must be insured/bonded, receive attorney oversight, have experience locating owners entitled to funds, and be re-certified on an annual basis.

Who are We?

Gulf Coast Investigative Solutions recovers surplus funds on behalf of individuals throughout the state of Florida.  Gulf Coast Investigative Solutions is overseen by an attorney with over thirty years of experience and employs a knowledgeable and talented staff to service its clientele.  Gulf Coast Investigative Solutions' principals are licensed and insured, and the company maintains the high standard necessary to be certified as a Trustee by the State of Florida.

What are Your Credentials?

Gulf Coast Investigative Solutions , LLC is a "Class A" Private Investigative Agency (FL Lic. Number: A1000149) and Certified Surplus Trustee Registered with the Florida Department of Financial Services.

Our Principal attorney, Lawrence J Forno, Esq., is a licensed attorney (Fla. Bar Number: 264555) with a law degree from Georgetown University and 38 years of good standing with the Florida Bar. and Licensed Private Investigator, John Garrison (License # A 1000149 and C 2500949)  The investigative team at Gulf Coast Investigative Solutions utilizes their expansive knowledge and expertise to provide trustworthy and reliable services throughout the state of Florida.  Gulf Coast Investigative Solutions is a member of the Florida Association of Licensed Investigators (FALI).

Why Do Florida Courts Appoint Surplus Trustees?

To locate and administer funds to owners, and to prevent fraudulent or deceptive practices.

The Florida Legislature adopted amendments to Chapter 45, Florida Statutes, in the early-mid 2000s to create the Surplus Trustee certification regimen to combat the predatory practice of "surplus purchasing." Prior to the Surplus Trustee system, deceptive individuals and companies would frequently contact foreclosure victims and offer to purchase rights to a surplus, often for pennies on the dollar. In light of the reality that most foreclosure victims could not afford an attorney to discuss the legal aspects of the surplus assignment, the Legislature created a system where funds are appointed after 60 days to a Surplus Trustee with a statutory duty to locate the owner and assist in getting the money disbursed to them.

How Much Do You Get Paid?

A Maximum of Twelve-Percent (12%) of the Surplus

The fee received by all Surplus Trustees is set by Florida Statute. The trustee bears the burden of legal fees, and no matter how high the fees become your 88% is not affected. Once we win the case for you, the clerk will issue the check directly to you. The clerk issues a separate check to Gulf Coast Investigative Solutions and we must then deduct for Private Investigator costs, Attorneys fees, and court costs. We don’t make much money per file, but we help a lot of people and make it up in volume so everyone wins.



How Long Does it Take to Get My Money?

The process typically takes 3-10 weeks.

As soon as you return your signed and notarized affidavit to us, our attorney will file a Motion with the court on your behalf.  Most of the wait thereafter results from the time it takes to get a hearing set. Following receipt of a judicial order, it usually takes the county between 5-14 days to issue a check.

Why Can't I Do This Myself?

You can.  It is possible to cut through all the bureaucracy and claim the funds yourself.  Other claimants have only 60 days to file a claim and then you are allowed to make your claim.  We recommend you use caution, as a common practice is for the bank to sell the debt to a greedy investor that has contacted them to assign the debt over to them.  This often times brings them up to the deadline and they submit the claim a day or two late.  Once becoming our client, we monitor your case all the way up to the deadline and if funds are available on Day 60, we file a motion with the court to get your money dispersed to you.  If any other party contests us, we fight them at our expense.  These greedy individuals do this for a living so it takes a strong attorney to stand up for you, and that is what we will provide to you.

What Happens to the Surplus if I Don't Do Anything?

The money gets turned over to the State Unclaimed Funds account.

After one year, the Surplus Trustee's Appointment is terminated and the funds are turned over to the Florida Unclaimed Funds Trust. Thereafter you may be contacted by an agency-approved "Claims Representative" to file a claim for the funds. Claims Representatives are allowed to receive higher fees than Surplus Trustees, as the process in retrieving these funds becomes convoluted.

How Do You Get Started?

In order to begin the process, please contact us so that we may provide you with the documentation necessary to allow us to represent you in recovery of the funds in the legal case.  If you have any questions about any part of the process, please feel free to call us today at (941)894-9108 or email us.


Contact us: (941)894-9108

Email:  info@flgulfcoastpi.com


References.

Link to Department of Financial Services on Transparency Florida and importance of dealing with State Registered companies.  Click Here

Link to Florida Bar Website showing Our Attorneys tenure and practice.  Click Here 

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