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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.

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What Should Construction Contractors Do When a Property Owner Files For Bankruptcy?

Jimerson Firm

When a property owner files for bankruptcy, a “Notice of Commencement of Case” will be sent to all creditors listed in the owner’s bankruptcy petition to let them know that the bankruptcy has been filed and to provide deadlines for key events in the bankruptcy. See 11 U.S.C. § What Can Be Done With a Perfected Construction Lien in Bankruptcy?

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Secured vs Unsecured Debt: Everything You Need to Know

Sawin & Shea

If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. That means that you must continue to pay on most secured debts to keep or hold onto the collateral.

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Burr & Forman Names Eight New Partners Across Five Offices

Burr Forman

From Burr & Forman’s Jacksonville office: Armando Nozzolillo is a member of the firm’s Creditors’ Rights and Bankruptcy practice group. For more information, visit the firm’s website at burr.com. The post Burr & Forman Names Eight New Partners Across Five Offices appeared first on Burr & Forman.

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What Is An Insolvent Estate? All You Need To Know

Hudson Weir

In addition to the personal representative, an insolvency administration order can be sought by a creditor, a liquidator, a temporary administrator or the supervisor of an individual voluntary arrangement that the deceased person was subject to. utility bills) Interest due on unsecured loans Deferred debts (e.g. loans from family members).

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Asset seizures: How they work in commercial collections

Collections Law

Search for secured creditors – Before you seize your debtor’s property, you want to make sure another creditor does not have a lien on that property, or you could become liable for that debt. Under Massachusetts law, certain basic necessity items are exempt from seizure, so you should seek legal guidance.

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SURVIVING FINANCIAL DISTRESS FROM COVID-19 IN THE RESTAURANT, BAR, AND SERVICE INDUSTRY

BN Lawyers

Work with Creditors. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. Many creditors will be willing to work with businesses. Creditors face their own pressures. To the extent possible, payments to creditors should be delayed while negotiations are ongoing.