Remove creditors-rights
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What Are Creditors’ Rights During Insolvency Proceedings?

Hudson Weir

If your business is struggling to pay its debts when they fall due, its important to keep in mind what are creditors rights during insolvency proceedings? As a director of an insolvent company, your overriding duty moves from maximising profits for the owners to preventing further losses, with creditors repayments in mind.

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S.C. Drops Review of Right-to-Cure Lawsuit

Account Recovery

The South Carolina Supreme Court has changed its mind and will not issue a ruling in a case over whether a debt collector is required to send a right-to-cure notice to a consumer under state law before filing a lawsuit to collect on an unpaid debt. The Supreme Court had heard arguments in the case of Portfolio Recovery Associates v.

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FTC Sues, Gets TRO Against Debt Collector

Account Recovery

Additionally, the defendants often failed to provide legally required notices, such as written communications disclosing the amount of debt, the name of the creditor, and the consumer’s right to dispute the debt within 30 days.

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Appeals Court Partially Reverses Dismissal of FDCPA Case Over Consumer Status and Debt Definition

Account Recovery

The ruling emphasized that a bankruptcy discharge eliminates personal liability but does not extinguish a creditors right to enforce a lien on property. The court found that, despite the discharge, the plaintiff retained a debt as defined under the FDCPA because the mortgage lien on the property remained enforceable.

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Red flags of negative cash flow and when to get help

American Profit Recovery

Soon, creditors will call you to resolve past-due obligations. For many small businesses, that’s using the right collection agency. Working closely with the right collection agency is a wise investment but freeing up your internal resources can be a game changer. One, never ignore the red flags of negative cash flow.

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Daily Digest – December 5. Senate Bill Aims to Restrict Medical Debt Collections; Calif. Appeals Court Upholds Ruling for Creditor in RFDCPA Case

Account Recovery

SENATE BILL SEEKS TO PLACE RESTRICTIONS ON MEDICAL DEBT COLLECTION A bill has been introduced in the Senate that seeks to cap the interest rate that can be charged on unpaid medical debts, create a private right of action, and force providers to wait 180 days after a bill has been sent before engaging in … The post Daily Digest – December 5.

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Prodigal Raises $12M in Series A Funding

Account Recovery

More proof that there is plenty of interest from investors in the accounts receivable management industry came yesterday, in the form of a $12 million Series A funding announcement from Prodigal, a technology company that provides an automation platform for debt buyers, debt collectors, and creditors rights law firms.