Sawin & Shea

JANUARY 11, 2024

Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy. Bankruptcy filings for both individuals and businesses are on the rise.

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Collections Law

FEBRUARY 14, 2024

Inevitably, a business may find themselves in a situation where a debtor or business owner dies with an outstanding bill. This is obviously a sensitive topic and can be a complex issue for a creditor. When a debtor dies, their outstanding debts do not die with them. What happens to the debt? Cohen & Associates LLC.

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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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Collection Industry News

OCTOBER 17, 2022

Under section 363 of the Bankruptcy Code, a debtor-in-possession in a chapter 11 bankruptcy proceeding can seek court approval to sell some or all of the debtor’s assets, free and clear of all claims and encumbrances. This process is beneficial for debtors in that it allows for a more streamlined method of liquidating its assets.

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FFGN COLLECT NY

DECEMBER 12, 2023

It is challenging to balance these factors for creditors who collect payments from debtors. As such, many creditors hire debt collection attorneys to ensure they comply with existing ethical and legal standards. However, adding a third party, such as an attorney, allows debtors to communicate and negotiate openly.

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Collections Law

FEBRUARY 2, 2024

Unfortunately, when a company has experience as a debtor, sometimes, this has given them an opportunity to learn a few tricks to try and avoid collection efforts. Cohen & Associates LLC know that debtors will sometimes go to great lengths to avoid paying their debts. Our collections attorneys at Law Offices of Alan M.

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Collections Law

JANUARY 10, 2024

However, if your debtor owns property in Massachusetts, your company has an edge on collecting the money that is owed to you. If the court approves your attachment pre-judgment, the debtor may not sell the asset before the case is decided. An attachment will put you at the front of the line of creditors. And then you wait.

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Sawin & Shea

JUNE 25, 2020

After you file for bankruptcy, it is illegal for your creditors to continue contacting you and asking for payments. If a creditor breaks the law, you can contact a lawyer to pursue a case against them. Here is a closer look at how you can take action against creditor harassment. Finally, you can have some peace!

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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.

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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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FFGN COLLECT NY

DECEMBER 12, 2023

Is there a law in NYC that protects consumers and debtors from debt collecting agencies, businesses, and their attorneys? Overview of NYC Law on Debt Collection Most people might not be aware of it, but New York has some of the strictest regulations and laws regarding debt collection and debtor protection.

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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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PBWT

FEBRUARY 5, 2023

This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. More specifically, in this case, a junkyard is the location of the debtor’s property, which consists of “construction debris, scrap piles, tire mounds, collapsed trailers, and inoperable vehicles.”

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In In re Marlena Joy Pizzo , the United States Bankruptcy Court for the District of South Carolina held that a debtor may voluntarily contribute to her retirement plan while paying creditors under a bankruptcy plan. [1] 6] The court referred to 11 U.S.C. 1325(b)(1)(B)). [8]

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Collections Law

JANUARY 25, 2023

While most people try to pay their debts, some debtors are dead set against paying their bills. One way some debtors try to get out of paying their bills is to transfer all their valuable property to friends or relatives. They keep control of the property and creditors can’t get at it. Did the debtor remove or conceal assets?

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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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Collections Law

MAY 4, 2023

This is often done in an effort to put their money out of reach from rightful creditors like you. When a debtor claims they can’t pay, we know how to investigate the debtor and find out where the money went. These trusts are sometimes called “creditor-resistant.” Sometimes, customers go bad. At the Law Offices of Alan M.

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FFGN COLLECT NY

MAY 18, 2022

Can you use a judgment to restrain a bank account or other assets maintained by a judgment debtor outside of New York state? When it comes to out-of-state debtors, restraining a bank account is possible, but depends on certain factors. A New York creditor files suit in New York against a California debtor.

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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. Entry Upon the Debtor’s Premises. 679.609, Fla. 2d at 625 (Fla.

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UK debt collections

NOVEMBER 2, 2022

Debtor jailed for hiding property assets from trustees. Due to the risk he posed to creditors, the Official Receiver previously sought further bankruptcy restrictions against Sukhi Sanghera. The court heard that Sukhi Sanghera (50) was made bankrupt in August 2017 by order of the County Court in Warwick, with debts of over £140,000.

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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

AUGUST 29, 2022

A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. The creditor, himself a trustee of the debtor’s employee stock-option plan, had standing to sue without prior court permission because his suit wasn’t brought on behalf of the bankruptcy estate.

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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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Collections Law

OCTOBER 12, 2021

When you win your judgment case against a debtor who has not paid, you may not want to celebrate just yet. Cohen LLC, we employ many different methods of collecting for our clients, but when the debtor fails to cooperate, we may turn to the courts for help through supplementary process. At Law Offices of Alan M.

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Collections Law

JUNE 14, 2023

If you have obtained a judgment in your state only to learn the debtor no longer has any assets there, you can look to assets they have in other states, such as Massachusetts. We file those with the court clerk, who then notifies the debtor. When time is money, this method can be preferable. Collection agencies can’t do any of this.

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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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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. Here’s how it works: A judgment creditor would issue a restraining notice to the bank. During the interview, several topics of interest were discussed.

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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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PBWT

OCTOBER 27, 2021

In many chapter 11 cases, creditors’ committees can play a vital role in maximizing the recoveries of unsecured creditors. But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. The debtor operated 28 franchise restaurants primarily in the Sun Belt region.

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PBWT

JUNE 3, 2021

A creditor in bankruptcy must normally file a proof of claim by a certain specified time, known as the bar date, or have its claim be barred. Can the creditor then take advantage of this provision, or does it only apply when the creditor matrix is not timely filed at all?

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PBWT

MARCH 7, 2021

It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? The issue arose recently where a chapter 11 debtor already had DIP financing in place. The debtor is an event design company.

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Sawin & Shea

JANUARY 5, 2022

Filing for bankruptcy is often a necessary yet scary and confusing process for debtors. If for some reason you realize that you forgot to add a creditor after you have already filed, your attorney can help you understand your options. It is not uncommon for debtors filing bankruptcy to forget to add a creditor when filing.

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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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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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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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Collections Law

APRIL 19, 2022

The process becomes even more problematic when your debtor is located in another state. Even if you do achieve a judgment in your own state, you have the added step of needing to domesticate the judgment in the debtor’s state. As an out-of-state creditor, you do have options for collecting a debt from a debtor in Massachusetts.

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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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