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. Self-Help Repossession. Self-help asset recovery is more commonly known as repossession. 2d 752 (Fla.

Secured Creditor 98

Secured Creditor Repossession Collateral Creditors 98

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. Barnett Bank of Pensacola , 397 So.

Secured Creditor 69

Secured Creditor Collateral Repossession Creditors 69

Jimerson Firm

NOVEMBER 27, 2023

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. 679.609(1). Spellman v.

Secured Creditor 59

Secured Creditor Collateral Creditors Debtor 59

Jimerson Firm

NOVEMBER 23, 2020

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. Barnett Bank of Pensacola , 397 So. Secured creditors are not required to provide notice to unknown creditors. Brinkley , 282 So.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Jimerson Firm

FEBRUARY 3, 2021

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. Therefore, even if a mobile home becomes permanently affixed to the land, a foreclosure of the land on which it is attached does not impact valid security interests in the mobile home, nor does it impact the foreclosure.

Foreclosure 96

Foreclosure Collateral Lender Repossession 96

Sawin & Shea

JANUARY 25, 2022

To enforce secured debts, your creditors may repossess your car or other vehicles, they may foreclose on your mortgage, or levy against other property you have either pledged as collateral or that is subject to an involuntary lien. How your debt is handled in bankruptcy will depend on which type you file.

Unsecured Debt 52

Unsecured Debt Collateral Secured debt Bankruptcy 52

Sawin & Shea

APRIL 24, 2024

If the payments were made to an insider creditor, the preference period changes from 90 days to within one year of filing. Secured vs. Unsecured Creditor A secured creditor has a lien of some kind on a debtor’s property. Unsecured creditors lend money without any collateral.

Bankruptcy 52

Bankruptcy Unsecured Creditor Debtor Creditors 52