Banks Commercial Collection Debtor Lender 
Jimerson Firm
NOVEMBER 23, 2020
When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. In Florida, the lender can choose from the following methods: UCC Sale. Barnett Bank of Pensacola , 397 So.
Jimerson Firm
NOVEMBER 13, 2020
When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. If the collateral is real property, the lender must liquidate all parcels of real property that has a Recoverable Value over $10,000. Is the Recoverable Value of the Property Over $10,000? See SOP 50 57.
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Collections Law
APRIL 5, 2022
Nearly any commercial enterprise can benefit from professional collection assistance. What does a collection attorney do? Some collection agencies simply send threatening letters, but may not provide much follow through. We then pursue a judgment from the court in order to collect your money.
Jimerson Firm
NOVEMBER 16, 2020
When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. collateral. Florida courts have also found a secured creditor breached the peace, if the secured creditor damaged the debtor’s property during repossession efforts, or used force to repossess the collateral.
Jimerson Firm
DECEMBER 30, 2020
In the event a borrower is seriously delinquent on making payments under a SBA loan, or the SBA loan is classified in liquidation status, lenders and CDCs must develop a prudent and commercially reasonable strategy to maximize their recovery on the loan. What is a Workout Agreement? SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55.
Jimerson Firm
JANUARY 27, 2021
SBA lenders should understand the appropriate protocols after receiving an offer in compromise from a borrower, including what an offer in compromise is, when it is appropriate, the general requirements, and the process for reviewing, approving and completing a compromise. If there are any discrepancies, the lender must investigate them.
Jimerson Firm
AUGUST 7, 2020
The Act codifies existing common law in Florida regarding the right to have a receiver appointed by the court in commercial foreclosure actions, and provides much needed clarity, predictability, and uniformity on the standard for the appointment of a receiver and the powers of receivers. What is a Receiver, and Why are They Important?
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