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Can you still collect if the debtor has filed for bankruptcy?

Collections Law

There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount the business owes you. You should not give up, though. At Law Offices of Alan M.

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How can a mechanic’s lien help an architect?

Collections Law

Cohen LLC, our experienced commercial collections attorneys often help architects and other parties involved in real estate development pursue payment through mechanic’s liens. We have nearly 50 years of combined experience representing businesses in debt collection. At the Law Offices of Alan M.

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How long do I have to collect on a debt in Massachusetts?

Collections Law

A judgment also puts you in line for payment if your debtor files for bankruptcy. Reach out for help Although you may have four years to collect if you are subject to the Uniform Commercial Code or Six years for non-uniform commercial code for breach of contract, that does not mean it’s wise to wait that long.

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Commercial Debt Collection for Businesses – 2023 Guide

Direct Recovery

This covers things like the Fair Debt Collection Practices Act and the state and local laws that build on it. This allows commercial collection agents more flexibility in collecting on your behalf, but it is always a fine line between pushing too hard and not pushing hard enough.

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Keeper attachments: How do they help you collect your money?

Collections Law

The commercial collection process can feel overwhelming sometimes. This might be especially helpful if the customer heads into bankruptcy, which could make collections much more difficult. Cohen LLC To Help You Collect We are here to explain your options for commercial debt collection.

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SBA Loans: Offers in Compromise

Jimerson Firm

4) Collection of the loan balance is not barred by a valid legal defense, such as discharge in bankruptcy or the statute of limitations; (5) The borrower has not engaged in fraud, misrepresentation, or other financial misconduct; and. (6) illness), paying it would cause financial hardship. (4)

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Lenders Beware: Foreclosure Judgments Can be Set Aside At Any Time Before The Sale Occurs

Jimerson Firm

For example, if the court entered a final judgment of foreclosure after the borrower filed a petition for bankruptcy in federal court, the judgment will be void and therefore, must be set aside. Citibank, N.A. Unknown Heirs , 197 So. 3d 1214, 1215 (Fla.