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If your business has sent bad debt accounts off to a collections agency, you likely have questions about recovering that debt. Typically, commercial collections agencies only charge a fee if they're able to collect. MORE
The person who bought the certificate will have the right to collect the tax debt from the property owner, plus interest. Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial Collections MORE
Facebook announced last week a new plan that it will launch in October to help small businesses collect on unpaid invoices, perhaps setting up an eventual entry into consumer debt collections as well. Is Consumer Collections Next? MORE
As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action. This article discusses the appointment of receivers during the commercial foreclosure action and provides considerations for whether to seek appointment of a receiver. MORE
Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsThe Florida Supreme Court has published the proper form to use when seeking a final judgment of foreclosure: Form 1.996(a), Final Judgment of Foreclosure (8-18-20). MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale). MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, mortgage foreclosure lawsuits are filed in the county where the property is located. MORE
The first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action. Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties. Part 5: Commercial Foreclosures 101. MORE
On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. sell, lease, license, exchange, collect, or otherwise dispose of receivership property.” § 714.02(14), MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsAlthough a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Pursuant to Section 702.07 MORE
Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections MORE
The court strongly encourages that lenders, whether private lenders, commercial institutions, or mortgage servicing companies, enter the mediation process with their borrowers before filing a foreclosure lawsuit. MORE
Lenders must give careful consideration on choosing this method because it may (unless otherwise negotiated in the written agreement) lose the right to collect any deficiency, and the property will remain subject to any existing liens. MORE
A secured creditor fulfills this notice requirement by conducting a search using commercial reasonable methods between 20 and 30 days before the sale, and sending notice to those secured creditors identified in the search. Collection of Accounts Receivable. MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial Collections MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, lenders may find themselves foreclosing on real property with a mobile home attached to the land. MORE
When you’re looking for a commercial debt collection agency, it’s easy to feel overwhelmed. We know what makes a good debt collection agency because we strive to be the best we can be. Debt Collection Process. What are their methods for debt collection? MORE
ITASCA, IL – Brown & Joseph, an international commercial collection agency for Insurance Premium Recovery announces that Tom Yodzis, formerly with CNA Insurance and Zurich… The post Tom Yodzis Joins Brown & Joseph appeared first on Brown & Joseph, LLC. MORE
Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsWhen 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. MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, foreclosure actions must be brought in the county where the land is located. This is typically referred to as the “local action rule.” MORE
Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections MORE
ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC. Articles News news MORE
Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Practically speaking, a commercial foreclosure action proceeds much the same as other civil actions. MORE
Collecting the Deficiency Judgment. When the lender receives a deficiency judgment from the court, it can proceed to collect on that judgment against the borrower using conventional collection methods. MORE
Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsA residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court. MORE
— Commercial Collection Agencies of America recently announced that through its initiative, Commercial Collection Agencies of America Gives Back , a portion of the proceeds of its virtual annual meeting has been given to Mental Health Advocates of WNY, formerly known as the Mental Health Association of Erie, New York. About Commercial Collection Agencies of America. CHICAGO, Ill. MORE
With commercial loans, typically the loan documents will include an acceleration clause, which allows the lender to accelerate all or most of the remaining amounts due under the loan. Personal guaranties offer lenders additional tools when seeking to collect on defaulted loans. MORE
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. MORE
Tuesday, October 21, 2021-Chicago-Commercial Collection Agencies of America is proud to. announce that National Service Bureau-Commercial Division has recently earned the industryrespected Certificate of Accreditation and Compliance. Member agencies adhere to requirements promulgated by an esteemed Independent Standards Board, which is charged with the creation, review and amendment of certification standards met by each collection agency member. MORE
Banking & Financial Services Industry Legal Blog Banking and Lender Liability Law Creditors Rights and Commercial Collections MORE
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsWhen a borrower dies, lenders are often left wondering what to do. MORE
In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. Guarantees can be classified as being either guarantees of payment or guarantees of collection, and the distinction is important to recognize. A provision for the recovery of collection expenses and attorney’s fees should be inserted. DEBT COLLECTION MORE
Additionally, during a foreclosure action, the lender/mortgagee can request the borrower/mortgagor to deposit the collected rents into the registry of the court or in such other depository as designated by the court. §697.07(4). Losing the Right to Collect Rents: Junior Foreclosure Sales. MORE
The compromise amount must bear a reasonable relationship to the amount that could be recovered in a reasonable amount of time through enforced collection proceedings, and it must be sufficient to protect the integrity of the SBA program. MORE
Brown & Joseph/Altus, the leading commercial collections company in the U.S., Articles News Spotlights debt collection news press release MORE
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. However, there is an exception where the commercial landlord retakes possession of the premises for the benefit of the tenant. MORE
Commercial Collection Related Topics Account Recovery
SEPTEMBER 14, 2021
Facebook announced last week a new plan that it will launch in October to help small businesses collect on unpaid invoices, perhaps setting up an eventual entry into consumer debt collections as well. Is Consumer Collections Next?
Collection Industry News
DECEMBER 21, 2020
— Commercial Collection Agencies of America recently announced that through its initiative, Commercial Collection Agencies of America Gives Back , a portion of the proceeds of its virtual annual meeting has been given to Mental Health Advocates of WNY, formerly known as the Mental Health Association of Erie, New York. About Commercial Collection Agencies of America. CHICAGO, Ill.
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The McHughes Law Firm
JUNE 22, 2016
In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. Guarantees can be classified as being either guarantees of payment or guarantees of collection, and the distinction is important to recognize. A provision for the recovery of collection expenses and attorney’s fees should be inserted. DEBT COLLECTION
Jimerson Firm
MARCH 12, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, foreclosure actions must be brought in the county where the land is located. This is typically referred to as the “local action rule.”
Jimerson Firm
FEBRUARY 15, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, mortgage foreclosure lawsuits are filed in the county where the property is located.
Jimerson Firm
JANUARY 28, 2021
Collecting the Deficiency Judgment. When the lender receives a deficiency judgment from the court, it can proceed to collect on that judgment against the borrower using conventional collection methods.
Jimerson Firm
FEBRUARY 18, 2021
Banking & Financial Services Industry Legal Blog Banking and Lender Liability Law Creditors Rights and Commercial Collections
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.
Jimerson Firm
DECEMBER 15, 2020
As discussed in parts 1-4 of this series, lenders have several options prior to instituting a commercial foreclosure action. This article discusses the appointment of receivers during the commercial foreclosure action and provides considerations for whether to seek appointment of a receiver.
Jimerson Firm
SEPTEMBER 22, 2020
Additionally, during a foreclosure action, the lender/mortgagee can request the borrower/mortgagor to deposit the collected rents into the registry of the court or in such other depository as designated by the court. §697.07(4). Losing the Right to Collect Rents: Junior Foreclosure Sales.
Jimerson Firm
NOVEMBER 23, 2020
A secured creditor fulfills this notice requirement by conducting a search using commercial reasonable methods between 20 and 30 days before the sale, and sending notice to those secured creditors identified in the search. Collection of Accounts Receivable.
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Jimerson Firm
NOVEMBER 13, 2020
Lenders must give careful consideration on choosing this method because it may (unless otherwise negotiated in the written agreement) lose the right to collect any deficiency, and the property will remain subject to any existing liens.
Jimerson Firm
OCTOBER 9, 2020
Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections
Jimerson Firm
SEPTEMBER 28, 2020
Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsA residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court.
Jimerson Firm
JANUARY 27, 2021
The compromise amount must bear a reasonable relationship to the amount that could be recovered in a reasonable amount of time through enforced collection proceedings, and it must be sufficient to protect the integrity of the SBA program.
Jimerson Firm
JANUARY 20, 2021
The court strongly encourages that lenders, whether private lenders, commercial institutions, or mortgage servicing companies, enter the mediation process with their borrowers before filing a foreclosure lawsuit.
Jimerson Firm
AUGUST 7, 2020
On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. sell, lease, license, exchange, collect, or otherwise dispose of receivership property.” § 714.02(14),
Jimerson Firm
MAY 25, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn every foreclosure action, the foreclosing lender will be required to publish some sort of legal advertisement or notice in a newspaper (e.g. the Notice of Foreclosure Sale).
Jimerson Firm
MAY 24, 2021
The person who bought the certificate will have the right to collect the tax debt from the property owner, plus interest. Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial Collections
Jimerson Firm
MAY 19, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsAlthough a lender may have won the battle by obtaining a final judgment of foreclosure from the court, it may not win the war. Pursuant to Section 702.07
Jimerson Firm
FEBRUARY 3, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsIn Florida, lenders may find themselves foreclosing on real property with a mobile home attached to the land.
Jimerson Firm
JULY 30, 2020
With commercial loans, typically the loan documents will include an acceleration clause, which allows the lender to accelerate all or most of the remaining amounts due under the loan. Personal guaranties offer lenders additional tools when seeking to collect on defaulted loans.
Jimerson Firm
MAY 26, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial Collections
Jimerson Firm
MAY 12, 2021
Banking & Financial Services Industry Legal Blog Creditors Rights and Commercial CollectionsWhen a borrower dies, lenders are often left wondering what to do.
Taurus Collect
APRIL 26, 2021
When you’re looking for a commercial debt collection agency, it’s easy to feel overwhelmed. We know what makes a good debt collection agency because we strive to be the best we can be. Debt Collection Process. What are their methods for debt collection?
Jimerson Firm
JANUARY 14, 2021
The first half of this series evaluated options available to lenders prior to instituting a commercial foreclosure action. Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties. Part 5: Commercial Foreclosures 101.
Jimerson Firm
AUGUST 24, 2020
Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections
Jimerson Firm
OCTOBER 22, 2020
Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Practically speaking, a commercial foreclosure action proceeds much the same as other civil actions.
Jimerson Firm
NOVEMBER 16, 2020
Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsWhen 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.
Jimerson Firm
JULY 15, 2020
Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. However, there is an exception where the commercial landlord retakes possession of the premises for the benefit of the tenant.
Brown and Joseph
JANUARY 7, 2021
Brown & Joseph/Altus, the leading commercial collections company in the U.S., Articles News Spotlights debt collection news press release
Brown and Joseph
AUGUST 3, 2020
ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC. Articles News news
Brown and Joseph
JULY 7, 2020
ITASCA, IL – Brown & Joseph, an international commercial collection agency for Insurance Premium Recovery announces that Tom Yodzis, formerly with CNA Insurance and Zurich… The post Tom Yodzis Joins Brown & Joseph appeared first on Brown & Joseph, LLC.
Enterprise Recovery
FEBRUARY 12, 2021
If your business has sent bad debt accounts off to a collections agency, you likely have questions about recovering that debt. Typically, commercial collections agencies only charge a fee if they're able to collect.
Collection Industry News
OCTOBER 5, 2021
Tuesday, October 21, 2021-Chicago-Commercial Collection Agencies of America is proud to. announce that National Service Bureau-Commercial Division has recently earned the industryrespected Certificate of Accreditation and Compliance. Member agencies adhere to requirements promulgated by an esteemed Independent Standards Board, which is charged with the creation, review and amendment of certification standards met by each collection agency member.
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