Jimerson Firm

DECEMBER 10, 2021

Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. Security Underwriting Consultants, Inc. Self-help asset recovery is more commonly known as repossession.

Secured Creditor 98

Secured Creditor Repossession Collateral Creditors 98

Jimerson Firm

FEBRUARY 11, 2022

The bankruptcy automatic stay prohibits all creditors from proceeding with collection actions, lawsuits, and enforcement of judgments against the debtor. Instead, the property owner debtor will have the opportunity to either assume or reject the executory construction contract as part of the bankruptcy. See 11 U.S.C. §

Construction 98

Construction Bankruptcy Secured Creditor Debtor 98

Collections Law

DECEMBER 14, 2021

Once you win your judgment case against someone who owes you money, you should be able to collect on your judgment and move on with your life. Unfortunately, many debtors do not readily pay up, even with a court order against them. Those methods often include seizing the debtor’s assets. How does asset seizure work?

Commercial Collection 52

Commercial Collection Collections Debtor Judgment 52

PBWT

DECEMBER 13, 2020

Because it was solvent at confirmation, the debtor proposed to pay secured creditors in full, with interest at the contract rate, and general unsecured creditors in full, with postpetition interest at the “legal rate,” or a rate determined by the Court that leaves the creditors unimpaired. [1]

Unsecured Creditor 65

Unsecured Creditor Bankruptcy Debtor Creditors 65

Debt Free Colorado

MARCH 3, 2023

A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. This type of bankruptcy does not stop secured creditors from seizing your property, so if you have money to pay the debt, this isn’t the best option to take.

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed. A copy of the opinion in Manikan v.

Bankruptcy 40

Bankruptcy Chapter 13 bankruptcy Law Firms Debtor 40

Sawin & Shea

JANUARY 25, 2022

However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. In a Chapter 7 you will be given a choice to either allow secured creditors to seize your collateral or continue to make payments until the debt is paid off.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52