Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

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Collections Law

JULY 25, 2023

We seek to freeze a debtor’s assets prior to obtaining a judgment so that there is an identifiable resource from which to get you paid. Once you get that judgment, we seek leave of the court to direct the person or entity which is holding the debtor’s seized assets to pay you. What if our debtor doesn’t own a cash business?

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Debtor Judgment Creditors Collections 52

FFGN COLLECT NY

MARCH 25, 2024

A judgment creditor is not limited to taking execution one step at a time. The creditor can execute in a variety of ways at the same time. An easy way to enforce a judgment in New York is to restrain bank accounts. A judgment creditor would issue a restraining notice to the bank.

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Lawyers Judgment Judgment Enforcement Collections 98

Jimerson Firm

DECEMBER 27, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy.

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FFGN COLLECT NY

MARCH 25, 2024

They include: A multi-faceted approach: A judgment creditor is not limited to taking it one step at a time. The creditor can execute in a variety of ways at the same time. Enforcing Judgments against bank accounts An easy way to enforce a judgment in New York is to restrain bank accounts.

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Jimerson Firm

APRIL 9, 2024

When a court enters a civil money judgment, it creates a judgment debtor and a judgment creditor. If the judgment debtor fails or refuses to pay the amount of the judgment, the judgment creditor may elect to use statutory collection methods to partially or fully satisfy the judgment. on one’s vehicle.

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Collections Law

JANUARY 13, 2023

It is extremely frustrating to discover that your debtor owes other people a lot of money. The more debt they have out there, the smaller the slice each creditor can get, right? If your debtor hasn’t declared bankruptcy, there are several ways we can use to try to get you paid, even if you don’t have collateral or a court judgment yet.

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Jimerson Firm

NOVEMBER 16, 2020

In the event the borrower defaults, usually by failing to make loan payments, a secured creditor has a right to take possession of the collateral. The quickest and cheapest way for a secured creditor to take possession of the collateral is by self-help repossession. Barnett Bank of Pensacola , 397 So. 679.609, Fla.

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Credit Management Company

SEPTEMBER 30, 2022

When individuals or businesses fall behind in payments, the situation often results in frustration and a breakdown in communication for both the debtor and the creditor. At CMC, our decades of experience have led us to develop a proven process of building professional relationships with debtors on behalf of our clients.

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Jimerson Firm

JANUARY 26, 2023

When a judgment creditor in Florida attempts to collect on a judgment involving an individual, one mechanism for doing so is through a garnishment action of the judgment debtor’s bank account. Florida has a statutory garnishment process that judgment creditors must follow. See Florida Statute Chapter 77.

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FFGN COLLECT NY

APRIL 21, 2022

Absent a sense of urgency, most creditors want to start with a demand to see if the debtor will respond. A written demand can be sent via email (depending on whether the debtor is commercial or consumer), by fax, mail, or hand delivery. Creditors should avail themselves of the opportunity as part of the debt collection process.

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PBWT

OCTOBER 19, 2021

Gargotta rejected a debtor’s attempt to use “CARES Act” funds, which it did not actually qualify for, to pay creditors in its chapter 11 case. BR Healthcare Solutions (the “Debtor”) operated a nursing home under the name Karnes City Health & Rehabilitation Center near San Antonio.

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Troutman Sanders

JANUARY 29, 2024

As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition. She listed 45 unsecured creditors in her schedules of assets and liabilities, including the $7,400 credit card debt at issue. The court found this argument contrary to the plain text of the Bankruptcy Code.

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Bankruptcy Chapter 7 bankruptcy Credit Card Debt Garnishment 98

Troutman Sanders

FEBRUARY 16, 2024

Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those funds revert to the debtors. In In re McCrorey , the debtors confirmed a chapter 13 plan, which required them to make payments for 60 months and provided no payments to unsecured creditors.

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Fraser

JULY 21, 2020

What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy. In reality, all kinds of creditors, including those who have valid defenses to preference claims, typically get sued regardless of their defenses.

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Fraser

JUNE 25, 2020

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. The Petition Date. Proof-of-Claim Bar Date.

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Sawin & Shea

APRIL 24, 2024

Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. Which creditors can they pay? This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first.

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Collections Law

APRIL 9, 2021

You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. Bank and Real Estate Attachments. Cohen LLC will frequently seek to attach your debtor’s bank accounts — either with notice or ex parte — in our efforts to secure payments from your debtor.

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Collections Law

APRIL 2, 2024

When a debtor is delinquent, one of the biggest concerns for creditors is that the debtor doesn’t have enough money to pay what they owe. An ex parte attachment is a legal remedy that allows a creditor to secure a debtor’s assets without prior notice to the debtor. At Law Offices of Alan M.

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Collections Law

MARCH 19, 2024

When a debtor is delinquent, one of the biggest concerns for creditors is that the debtor doesn’t have enough money to pay what they owe. An ex parte attachment is a legal remedy that allows a creditor to secure a debtor’s assets without prior notice to the debtor. At Law Offices of Alan M.

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Collections Law

JULY 6, 2021

Cohen LLC, you will find that the process of domesticating and enforcing foreign judgments against your debtors is a much more straightforward process than one would typically expect. For out-of-state creditors, the commercial litigation collections lawyers at Law Offices of Alan M. Filing of Judgments.

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FFGN COLLECT NY

AUGUST 12, 2021

When the usual steps, such as levying the debtor’s bank account and garnishing the debtor’s wages, result in little success recovering monies owed, the judgment may seem uncollectible. However, if the debtor is a beneficiary of a deceased New Yorker’s estate, you may be able to enforce the judgment through estate distribution.

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Burr Forman

OCTOBER 20, 2021

An article titled “Avoiding Fraudulent Transfer Claims from Loan Workouts” written by Partner Hanna Lahr and Associate James Roberts was published in the Risk and Compliance section of the ABA Banking Journal.

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FFGN COLLECT NY

OCTOBER 15, 2023

One of the many powers given to a judgment creditor is the right to subpoena either the debtor or a third party in aid of enforcing a civil money judgment entered in a New York state court. A process server typically must serve the judgment debtor. The judgment debtor often will be represented by counsel at the deposition.

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Debtor Judgment Creditors Banks 52

FFGN COLLECT NY

JANUARY 20, 2021

States have their own rules and regulations when it comes to freezing or restraining bank accounts. Creditors and debtors alike often wonder how debt collection attorneys restrain bank accounts. Below we demystify the process and explain how to freeze a bank account. Before Judgment. After Judgment.

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Nexa Collect

APRIL 27, 2021

Simple Answer: Once the bad debt entry hits the credit report, the fear in the debtor’s mind is gone. You just used the most effective tool in debt recovery before giving enough time to the debtor to settle your unpaid bills. The debtor thinks “ What worse can happen? The fear in the debtor’s mind is gone.

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Jimerson Firm

NOVEMBER 8, 2023

Judgment creditors are often faced with the question of how to collect an out-of-state judgment (also commonly referred to as a foreign judgment) in Florida. Once the foreign judgment is domesticated, the judgment creditor may pursue post-judgment collections efforts in Florida. An affidavit to domesticate the foreign judgment.

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UK debt collections

JULY 18, 2022

A CCJ ratifies a debt and makes it official that the debtor owes money and it must be repaid. When a CCJ is not repaid despite a request by the court to do so, there are various options available to the claimant and creditor. If the debtor fails to make payment then CCJ enforcement action can be taken. Enforcing a CCJ options.

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Debtor Creditors Banks Judgment 81

Collections Law

DECEMBER 1, 2022

Aggressive and Relentless Collection Tactics Legal tactics that can result in payment can include: Bank attachments. A trustee attachment is a legal tactic allowing a creditor to freeze monies in non-exempt bank accounts. As the name provides, this tactic gives the creditor a security interest in the debtor’s real estate.

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Sawin & Shea

AUGUST 17, 2022

In a Chapter 13 bankruptcy , the debtor agrees to a payment plan instead of having their property taken to pay creditors. In contrast, in a Chapter 7 bankruptcy , the bankruptcy trustee will often use property to help pay off creditors before the remaining debt gets discharged. Transferring or disposing assets before bankruptcy.

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Burr Forman

AUGUST 19, 2021

Paul Durdaller – Atlanta, Litigation and Banking and Finance. Paul Durdaller – Litigation, Banking and Finance. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Ed Snow – Banking and Finance Law, Commercial Finance Law, Securitization and Structured Finance Law.

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Stevens Lloyd

DECEMBER 13, 2018

You have initiated a lawsuit and won a Default Judgment against the debtor. Judgments are worthless unless you can locate and garnish the debtor’s assets, however. Extracting money from judgments necessitates obtaining significant information about the debtor as it relates to their assets. So now what ?

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Nexa Collect

JANUARY 14, 2023

Extra costs to comply with these laws would be passed on to businesses /creditors, who are already unwilling to pay the current costs associated with hiring a professional debt collector. This means all collection agencies must secure consumer data nearly the same way as banks. Read: Impact of the GLBA on Collection Agencies.

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FFGN COLLECT NY

OCTOBER 20, 2021

When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. Any objections to the debtor’s exemption must be made within 7 days.

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FFGN COLLECT NY

JUNE 3, 2020

With both consumers and small businesses receiving funds from the Paycheck Protection Program (PPP) and CARES Act, questions have come up as to whether these amounts can be frozen or garnished by debt collectors or creditors. Is garnishing PPP or CARES Act funds an option for satisfying outstanding monies owed to judgment creditors?

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Collections Law

APRIL 9, 2021

You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. Bank and Real Estate Attachments The Law Offices of Alan M. Cohen LLC will frequently seek to attach your debtor’s bank accounts — either with notice or ex parte — in our efforts to secure payments from your debtor.

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Jimerson Firm

FEBRUARY 10, 2022

The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency. Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i).

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