Collections Law

MARCH 27, 2023

When you have a commercial debtor who won’t pay but stays in business, they’re using your money to stay afloat. We called this “creditor financing.” Your debtor claims they cannot pay (“CANOPS”), but they’re still in operation. We may also seek a pre-judgment attachment on certain assets, without notice to the debtor.

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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

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? Since your debtor isn’t in bankruptcy, we can pursue the debt aggressively. This helps to prevent your debtor from hiding the bacon.

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Collections Law

MARCH 8, 2022

As a creditor, the last thing you want to hear is that one of your debtor businesses may be filing for bankruptcy. Cohen LLC know that you must act quickly if you think your debtor will be filing for bankruptcy soon. Cohen LLC know that you must act quickly if you think your debtor will be filing for bankruptcy soon.

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ABI

JANUARY 19, 2024

Nationstar Mortgage LLC , the bankruptcy court held that a debtor’s marital interest in his family residence would become a “property interest” warranting an invocation of the automatic stay against a foreclosure proceeding if he obtained a divorce. [1] 8] The bankruptcy court relied upon the decision from the U.S. Builders Transp.,

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Collections Law

APRIL 22, 2024

This scenario can be frustrating to a debtor. We have successfully pierced the corporate veil to collect on debts from the creditor company’s owners or shareholders. Unless the debtor can pierce the corporate veil. Legally, the rights or liabilities of a corporation become the rights or liabilities of its shareholders.

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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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ABI

JANUARY 25, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363 of title 11 of the United States Code (the “Bankruptcy Code”) allows a debtor to sell its bankruptcy assets free and clear of liens and interests only if certain circumstances are met. [1] Jae Hwang St. 22] [1] See 11 U.S.C. § 363 (2023). [2]

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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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ABI

JANUARY 22, 2023

the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] 7] Generally, under the Bankruptcy Code, once a debtor files for bankruptcy, an unsecured claim no longer accrues interest. [8]

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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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FFGN COLLECT NY

OCTOBER 16, 2020

After finally collecting the monies owed to you through debt collection litigation, the debtor wants their money back. Can a debtor really get their money back? How a Debtor Can Get Their Money Back. There are two scenarios in which you’d have to return monies to a judgment debtor following debt collection litigation.

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Collections Law

APRIL 23, 2024

After you secure a judgment, Rule 69 of the Massachusetts Rules of Civil Procedure provides a creditor the opportunity to find a debtor’s money. Under Rule 69, a creditor has the right to conduct discovery into a debtor’s financials. There are few limits to the financial information we can seek.

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PBWT

MARCH 14, 2021

It’s rare for a debtor in bankruptcy to raise allegations of involuntary servitude and a violation of the Thirteenth Amendment. But one debtor did just that after a chapter 11 trustee was appointed to take over the debtor’s bankruptcy estate. United States (In re Breland) , No. 19-14321, 2021 U.S. Laidlaw Envtl.

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ABI

JANUARY 19, 2024

In In re Aearo Technologies , the United States Bankruptcy Court for the Southern District of Indiana (the “Bankruptcy Court”) held that a financially healthy debtor may not file for chapter 11 bankruptcy in good faith and, therefore, the case is subject to dismissal under section 1112(b). [2] 10] The U.S.

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Taurus Collect

FEBRUARY 1, 2024

They are responsible for pursuing the repayment of debts on behalf of creditors. Understanding the Debt Collection Process The debt collection process typically initiates once a creditor concludes an account is non-performing, meaning the debtor has missed payments for several months.

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FFGN COLLECT NY

JUNE 12, 2022

Are you or your collection attorney attempting debt collection efforts even though the debtor filed for bankruptcy? The debtor did not pay. We executed on the judgment and before any monies could be restrained to satisfy the client’s judgment, the debtor filed for bankruptcy; a no-asset case. Violating an Automatic Stay.

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Nexa Collect

SEPTEMBER 23, 2021

Several collection agencies have been using electronic mediums like emails, social media platforms, and SMS to contact debtors. To a standard person, it may appear that contacting a debtor either way (traditional or electronic) is the same, a contact made is a contact made regardless of the medium. In fact, many prefer it that way.

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Jimerson Firm

DECEMBER 10, 2021

Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. What Options do Florida Creditors Have for the Recovery of Personal Property? Self-Help Repossession.

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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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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. Purposely transferring assets is known as a “fraudulent conveyance.”

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FFGN COLLECT NY

DECEMBER 12, 2023

Debt collection is a complex process that requires transparent and seamless communication, proper documentation, and preservation of rights. It is challenging to balance these factors for creditors who collect payments from debtors. The primary reason many creditors hire a debt collection attorney is to ensure legal compliance.

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FFGN COLLECT NY

FEBRUARY 21, 2024

To enforce your rights to get paid, you filed a New York debt collection case. It’s only when the debtor (now defendant) defends the case that you learn you failed to comply with a local law or ordinance. Although the debtor uses the defenses, it does not necessarily mean that they are valid or that they apply to the case.

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Taurus Collect

FEBRUARY 1, 2024

Simply put, it’s an individual or a debt collection agency in the UK employed by a creditor to retrieve funds that are overdue. Let’s take a closer look at the role of debt collection agencies and what your rights are when interacting with them. Your Rights : As a debtor, you have rights that you can and should exercise.

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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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ABI

JANUARY 13, 2021

2] The SBRA is silent as to its availability to small business debtors that had filed for bankruptcy relief prior to the effective date of the statute, February 19, 2020. [3] 4] Deirdre Ventura (the “Debtor”) was the owner and operator of the Harbor Rose, a bed and breakfast located in New York. [5] Gregory and the U.S.

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Jimerson Firm

FEBRUARY 11, 2022

This article will provide an overview of what happens when a property owner files for bankruptcy and what contractors and subcontractors can do with their construction lien rights in bankruptcy to try to protect their interests. However, it may not include subcontractors if they are not already creditors known by the owner.

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PBWT

FEBRUARY 7, 2021

This is especially true if you’re a creditor in a chapter 11 case. Debtor Fred Jay Bressler, M.D. Debtor Fred Jay Bressler, M.D. Two mortgage companies held more than $800,000 in secured claims, and 33 creditors had unsecured claims totaling about $1.1 Just seven unsecured creditors voted on the plan, all in favor.

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ABI

JANUARY 12, 2022

Subject to court approval, a trustee or debtor in possession may assume or reject an executory contract or unexpired lease of a debtor under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). [i] i] The trustee or debtor in possession must cure any defaults to assume a contract or lease. [ii]

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ABI

JANUARY 12, 2022

Brinskele (“Spouse”) was enforceable against the real property of his wife, Rebecca Brown Brinskele (“Debtor”), where the Spouse quit-claimed his interest in that property to the Debtor after a judgment lien had been recorded. [1] 7] Debtor filed an objection to the proof of claim on July 16, 2019. [8] on May 30, 2002. [3]

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PBWT

JANUARY 30, 2023

The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors. The Debtors filed for bankruptcy in July 2022, at which point there were approximately 60,000 such Earn Accounts. See 11 U.S.C. §

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. the “Debtor”) $1.5 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]

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Sawin & Shea

MARCH 13, 2024

If you’re considering bankruptcy, you may wonder which filing type is right for you. A reaffirmation agreement is a document that re-obligates a debtor to repay a particular debt, such as a car loan, mortgage, or other loan type. The trustee is responsible for setting up the 341 meeting , known as the Meeting of Creditors.

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Taurus Collect

OCTOBER 30, 2023

Establishing Contact with the Debtor The first step in the debt collection process is establishing contact with the debtor. This often involves several key actions: Initial Communication: A business or a debt collection agency, like a debt collection agency in Derby, will send a letter of demand to the debtor.

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PBWT

MAY 22, 2022

Since companies facing bankruptcy usually try to keep an anticipated filing quiet in order to prevent creditors from taking adverse actions, customers may unexpectedly lose control over their crypto assets. Furthermore, a debtor may use or sell its property either in the ordinary course of business or with court authorization.

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Sawin & Shea

JUNE 29, 2022

If, like many, you are struggling with debt and are behind on payments, you may be stressed out by all of the calls you are receiving from your creditors. Creditor harassment is unlawful, and there are many other things that debt collectors don’t want debtors to know to make it easier for them to get away with things they aren’t supposed to.

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ABI

JANUARY 28, 2024

4] Speedwell issued four notices to Berley and Pazzo Pazzo from April to August 2017, pursuant to which Speedwell informed the parties that it was terminating the lease and Berley would have thirty days from termination to exercise its right to repurchase. [5] 6] Neither Berley nor Pazzo Pazzo responded to the notices.

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