article thumbnail

How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

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. 679.609, Fla. Northside Motors of Fla.,

article thumbnail

Rick Steinberg to give live webinar presentation on October 6 at 1:00 through Strafford on Bankruptcy and Secured Creditor Priority: Identifying, Resolving, or Avoiding Hidden and Springing Liens

Price Meese

Steinberg and the firm are pleased to announce that he will be speaking in an upcoming Strafford live video webinar, “Bankruptcy and Secured Creditor Priority: Identifying, Resolving, or Avoiding Hidden and Springing Liens” scheduled for Wednesday, October 6, 1:00pm-2:30pm EDT.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

SBA Loans: How to Maximize Recovery by Liquidating Personal Property

Jimerson Firm

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.

article thumbnail

Secured Creditors Beware: Ninth Circuit Holds a Chapter 13 Debtor may Avoid Liens Even if not Entitled to a Discharge

The Creditors Rights

Congress enacted § 1328(f) of the Bankruptcy Code when its passed BAPCPA. This section prohibits the granting of a chapter 13 discharge if the debtor received a chapter 7 discharge within four years prior to the commencement of his chapter 13 case. The Ninth Circuit in In the Matter of Blendheim , 803 F.3d 3d 477 (9 th Cir.

Debtor 40
article thumbnail

Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

Secured Debt in Bankruptcy A bankruptcy can discharge your underlying responsibility to pay the debt, but it does not do away with the creditors rights to the collateral they hold as security. That means that you must continue to pay on most secured debts to keep or hold onto the collateral.

article thumbnail

Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

He represents various financial institutions, creditors, landlords, and other parties in all aspects of loan modifications and restructuring, commercial foreclosures, enforcement of security interests and domestic and foreign judgments, Chapter 7 and 11 bankruptcies, and creditorsrights litigation.

article thumbnail

Foreclosing on Property With a Mobile Home

Jimerson Firm

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. In this case, the mobile home will become part of the foreclosure of the real property. Lenders should include a description of the mobile home in the legal description of the real property.