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How Can a Secured Creditor Repossess Collateral Without Breaching the Peace?

Jimerson Firm

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.

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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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Secured Creditors Beware: Ninth Circuit Holds a Chapter 13 Debtor may Avoid Liens Even if not Entitled to a Discharge

The Creditors Rights

This section prohibits the granting of a chapter 13 discharge if the debtor received a chapter 7 discharge within four years prior to the commencement of his chapter 13 case. 2015) held a chapter 20 debtor may in his chapter 13 case avoid a lien under § 506(d) even if § 1328(f) precludes him from receiving a discharge.

Debtor 40
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Supreme Court Expands Creditors’ by Allowing Denial of a Discharge Under Sec. 523(a)(2)(A) if Debtor Transfers Assets in Violation of State Fraudulent Transfer Statute

The Creditors Rights

Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. Husky sued Ritz under a Texas statute which allows creditors to hold shareholders responsible for corporate debts under circumstances involving actual fraud.

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SBA Loans: How to Maximize Recovery by Liquidating Real Property

Jimerson Firm

The court can also order a deficiency judgment against the debtor—that is, a money judgment—to the extent the foreclosure sale does not produce sufficient funds to pay the debt owed to lender on the SBA loan. However, foreclosures (particularly contested foreclosures) can be expensive and less efficient than other liquidation methods.

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Hanna Lahr Named in Birmingham Business Journal’s 2021 Top 40 Under 40

Burr Forman

Hanna is a partner in the firm’s CreditorsRights & Bankruptcy group. Her practice focuses on representing creditors and debtors, both in and out of court, on a variety of issues. Hanna helps clients enforce or restructure debt obligations, including through the bankruptcy process. About Burr & Forman LLP.

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Burr’s Anna Akers Named a 2020 Honoree in Birmingham Business Journal’s “Next Gen: Rising Stars of Law”

Burr Forman

Anna is an associate in the Birmingham office where she practices in the firm’s CreditorsRights and Bankruptcy group. At Burr, Anna represents both creditors and debtors to enforce or restructure debt obligations.