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. 60 calendar days), the lender/CDC must move forward with liquidating the collateral.

Loans 98

Loans Collateral Lender Foreclosure 98

Sawin & Shea

FEBRUARY 8, 2023

Bankruptcy is a great option for many, as it can help people get back on track with their finances. Plus, these bankruptcy options also provide protection from creditors. Here are some expert tips for rebuilding your credit and finding the best credit cards after bankruptcy. You may have to start small, with a secured card.

Bankruptcy 69

Bankruptcy Chapter 7 bankruptcy Collateral Creditworthiness 69

Debt Free Colorado

DECEMBER 9, 2021

Are you considering bankruptcy? Bankruptcy is a challenging, life-altering experience. . If you are considering consulting with an attorney about your debt-relief options, it is essential to remember that each type of bankruptcy comes with its advantages and disadvantages. . Advantages of Chapter 7 Bankruptcy.

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Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Unsecured Debt 75

Jimerson Firm

MAY 5, 2021

Certain entities facing ongoing financial hardship will chose to seek Chapter 11 or other bankruptcy protection, and while PPP loan and Coronavirus-related EIDL generally are forgivable, exactly how such loan default will be treated through reorganization is the subject of much current litigation and has yet to be fully determined.

Collateral 98

Collateral Loans Government Debtor 98

Jimerson Firm

FEBRUARY 5, 2021

When a SBA loan is in liquidation status, lenders and authorized CDC liquidators are required to perform “Prudent Liquidation.” When Prudent Liquidation is complete, it’s time for the lender or authorized CDC liquidator to submit a wrap-up report to the SBA and have the loan charged-off. 120.535(b). 120.535(b). SOP 50 55.

Loans 89

Loans Lender Collateral Bankruptcy 89

Fraser

JUNE 25, 2020

It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

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Creditors Bankruptcy Unsecured Creditor Debtor 72

Jimerson Firm

JANUARY 27, 2021

If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” All borrowers must submit their own offer in compromise to the lender or CDC. SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55. When is an Offer in Compromise Appropriate?

Loans 96

Loans Lender Collateral Creditors 96

Roths Child Law

SEPTEMBER 21, 2023

Filing for bankruptcy is a significant decision that can be simultaneously stressful and a source of relief for those who choose this path. When someone files for bankruptcy, an essential provision called the automatic stay comes into play. This turn of events is fundamental to the bankruptcy process.

Debtor 96

Debtor Creditors Bankruptcy Repossession 96

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. Bankruptcy stops foreclosure before the lender takes the vehicle.

Repossession 52

Repossession Lender Collateral Bankruptcy 52

Sawin & Shea

FEBRUARY 28, 2024

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

Personal loans 52

Personal loans Bankruptcy Chapter 13 bankruptcy Loans 52

Sawin & Shea

AUGUST 9, 2023

Credit card debt is a huge reason people end up filing for bankruptcy. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems. Many cardholders unable to pay their debt wind up filing for bankruptcy which may be a good answer to big financial problems.

Bankruptcy 52

Bankruptcy Credit Card Debt Collateral Lawyers 52

Sawin & Shea

MARCH 7, 2023

Are you wondering how to file bankruptcy Chapter 7? Or if filing for bankruptcy is right for you? If you’re struggling with debt and considering bankruptcy, speaking with a bankruptcy lawyer can help you determine your best options and give you some clarity on how the process works. What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Lawyers Bankruptcy Unsecured Debt 52

Roths Child Law

APRIL 30, 2024

Following bankruptcy, managing credit card usage requires a strategic approach to rebuilding financial stability and creditworthiness. Some tips to help you navigate credit card use after you file for bankruptcy can be found here. These cards require a security deposit, serve as collateral, and can help rebuild trust with lenders.

Bankruptcy 52

Bankruptcy Creditworthiness Collateral Lender 52

Roths Child Law

JULY 31, 2023

Rebuilding credit after filing for bankruptcy can seem like a daunting task. These require a cash deposit as collateral, which then becomes your credit limit. These are loans where the money borrowed is held by the lender in a savings account while the borrower makes payments. However, it's far from impossible.

Bankruptcy 52

Bankruptcy Collateral Loans Lender 52

Debt Free Colorado

DECEMBER 23, 2024

Creating a Life Free From the Burden of Unpaid Debt Bankruptcy can be a way out for many people struggling with debt. Understanding what debts bankruptcy can eliminate is important. Unsecured debt is a type of debt that is not backed by collateral. Some debts stay with you even after bankruptcy.

Unsecured Debt 52

Unsecured Debt Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy 52

Sawin & Shea

MAY 2, 2024

If you’re struggling with overwhelming debt, you may be wondering if bankruptcy is the right solution for your financial situation. One of the most common questions people have is “How Much Debt is Needed to File for Bankruptcy?” However, that doesn’t mean bankruptcy is the best option for everyone with debt.

Bankruptcy 52

Bankruptcy Chapter 7 bankruptcy Chapter 13 bankruptcy Unsecured Debt 52

Burr Forman

JANUARY 26, 2022

Meek have been recognized in the January 2022 issue of Lawdragon’ s “500 Leading Bankruptcy & Restructuring Lawyers” List. Lawdragon says, “The start of the pandemic brought expectations for mountains of commercial bankruptcy work. Golden was named in the Bankruptcy & Commercial Litigation specialty.

Lawyers 52

Lawyers Bankruptcy Unsecured Creditor Creditors 52

PBWT

DECEMBER 22, 2020

In sophisticated real estate financing transactions, most prudent lenders attempt to deter borrowers from filing for bankruptcy before loans are paid in full by providing in loan documents that such a filing constitutes an event of default. Bankruptcy Code to delay the foreclosure.

Bankruptcy 52

Bankruptcy Loans Foreclosure Lender 52

The Creditors Rights

JULY 5, 2016

Lenders often go to great lengths to ensure their borrowers are Special Purpose Entities —entities whose assets will not be commingled with the assets of parent or affiliated companies—rendering bankruptcy filings by the SPE less likely. In Opportunity Finance , the debtors were Petters Company, Inc. (“PCI”) The Eighth Circuit agreed.

Lender 40

Lender Bankruptcy Creditors Collateral 40

PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. One way committees try to enhance recoveries is by seeking “derivative standing” to commence adversary proceedings challenging the validity of a secured lender’s pre-petition liens. Bankruptcy Judge Joseph N.

Creditors 59

Creditors Debtor Collateral Unsecured Creditor 59

Roths Child Law

MAY 11, 2021

Unfortunately, it also means that the car, truck, van or SUV that you drive to your job every day is also collateral for the loan used to purchase it. . When you fall behind on payments, the lender who financed the purchase might decide to repossess the vehicle. Bankruptcy stops foreclosure before the lender takes the vehicle.

Repossession 40

Repossession Lender Collateral Bankruptcy 40

Sawin & Shea

JULY 5, 2023

Declaring Chapter 7 bankruptcy may be the best solution in cases like this. There are effects that should be considered, preferably alongside a bankruptcy attorney. What is Chapter 7 Bankruptcy? Filing for bankruptcy is more common than you might think. But what exactly is a Chapter 7 bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Creditors Collateral 52

PBWT

AUGUST 16, 2022

In an adversary proceeding, the collective owners of the Makaha Valley Country Club , golf courses, surrounding undeveloped land, and other related assets (the “Owners”) avoided obligations undertaken in connection with a loan extension provided by Tianjin Dinghui Hongjun Equity Investment Partnership (the “Lenders”).

Debtor 65

Debtor Construction Collateral Lender 65

Sawin & Shea

MARCH 13, 2024

If you’re considering bankruptcy, you may wonder which filing type is right for you. The two basic types of bankruptcy classifications for individuals and families are Chapter 7 and Chapter 13. Have additional questions regarding bankruptcy or reaffirming secured debts? Who Is Eligible for Chapter 7 Bankruptcy?

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Chapter 13 bankruptcy Bankruptcy Collateral 52

Sawin & Shea

NOVEMBER 15, 2023

If you’re struggling with financial hardship, filing for bankruptcy can be an effective way to get back on your feet. But filing for bankruptcy in Indiana doesn’t mean every outstanding debt you’ve ever incurred gets wiped away. Declaring bankruptcy will discharge most types of debt but not others. What do we mean by this?

Unsecured Debt 52

Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52

Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

Bankruptcy 52

Bankruptcy Chapter 13 bankruptcy Credit Counselor Chapter 7 bankruptcy 52

Sawin & Shea

JANUARY 25, 2022

Dealing with debt can be scary and overwhelming, especially if you don’t know what will happen if you miss too many payments and default or have to file bankruptcy. While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. What is Secured Debt?

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Debt Free Colorado

APRIL 9, 2020

Many creditors such as mortgage servicers, auto lenders, and credit card companies are offering assistance to individuals financially affected by the pandemic. Unlike mortgage lenders, most landlords are simply not in a financial position to weather the loss of rental income due to the high expenses associated with the rental property itself.

Student Loans 81

Student Loans Student loans Chapter 13 bankruptcy Chapter 7 bankruptcy 81

Burr Forman

AUGUST 10, 2020

Bankruptcy and Restructuring Lawyers. Derek is the chair of the firm’s Creditors’ Rights and Bankruptcy practice group and a Fellow in the American College of Bankruptcy. Mike is also a partner in the firm’s Creditors’ Rights and Bankruptcy Practice Group.

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Lawyers Bankruptcy Collateral Manufacturing 40

Debt Guru

MARCH 6, 2020

Use the same formula that lenders rely on when evaluating a loan application. The result is a percentage that determines your creditworthiness – in short, if lenders believe you’ll be able to repay the loan. Here’s how the typical lender classifies debt-to-income ratio: Less than 15%: Your debt load is within an affordable range.

Credit Counselor 86

Credit Counselor Student Loans Student loans Loans 86

Roths Child Law

MAY 13, 2024

For example, two common types of bankruptcy , Chapter 7 and Chapter 13, offer different benefits and drawbacks in the context of foreclosure. Chapter 7 Chapter 7 bankruptcy can eliminate most unsecured debts that aren’t secured by collateral, in the way that auto and home loans are.

Foreclosure 52

Foreclosure Chapter 13 bankruptcy Chapter 7 bankruptcy Unsecured Debt 52

BN Lawyers

MARCH 23, 2020

It can make the difference between being able to work out an arrangement with a landlord or equipment lessors and needing to file for a chapter 11 bankruptcy to save your business. Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. Work with Creditors.

Bankruptcy 67

Bankruptcy Creditors Lender Lawyers 67

Credit Corp

OCTOBER 31, 2023

No credit check to apply *Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. FICO® Scores are used by 90% of top lenders ¹Credit score calculated based on FICO® Score 8 model. Chime Checking Account required.

Collateral 104

Collateral Credit Card Debt Banks Lender 104

Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt.

Chapter 13 bankruptcy 52

Chapter 13 bankruptcy Chapter 7 bankruptcy Bankruptcy Personal loans 52

Hudson Weir

SEPTEMBER 11, 2023

To reduce the lender’s risk exposure, a secured business loan provides them with collateral – a company asset. In contrast, an unsecured loan provided by a lender does not involve a company asset’s usage as collateral. What is a secured loan? Therefore, secured loans tend to be for larger amounts.

Loans 52

Loans Collateral Secured Creditor Unsecured Creditor 52

Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Bankruptcy Unsecured Creditor Debtor 52

Jimerson Firm

AUGUST 7, 2020

This new legislation is likely to be important to lenders and borrowers due to the anticipated higher volume of commercial foreclosures due to economic effects of the current COVID-19 pandemic. What is a Receiver, and Why are They Important? When Can the Court Appoint a Receiver Under the Act? 714.14, Fla. Authors: C. Ryan Maloney, Esq.

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