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Recovering Personal Property Collateral: When Should Secured Creditors Consider Replevin Instead of Self-Help Repossession?

Jimerson Firm

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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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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Another Bankruptcy Court Weighs in on Postpetition Interest

PBWT

Because it was solvent at confirmation, the debtor proposed to pay secured creditors in full, with interest at the contract rate, and general unsecured creditors in full, with postpetition interest at the “legal rate,” or a rate determined by the Court that leaves the creditors unimpaired. [1] 94 (BAP 9th Cir.

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Asset seizures: How they work in commercial collections

Collections Law

Once you win your judgment case against someone who owes you money, you should be able to collect on your judgment and move on with your life. Cohen LLC, we often combine asset seizure with other methods of pre- or post-judgment attachment. Unfortunately, many debtors do not readily pay up, even with a court order against them.

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All in a Day’s Work. Belk Achieves Confirmation of Pre-Packaged Plan in Record Time

PBWT

” [1] Critically, the plan leaves all unsecured creditors unimpaired. We posit a few of those here: Broad Creditor Support. It’s not terribly insightful, but no less essential, to observe that no pre-packaged bankruptcy case can hope to win confirmation quickly, let alone in a single day, without broad creditor support.

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Foreclosing on Property With a Mobile Home

Jimerson Firm

Foreclosures in Florida are judicial, meaning the secured creditor must file a lawsuit. If the lender receives a foreclosure judgment from the court, the real property, including the mobile home, will be sold at public auction. What To Do If The Mobile Home is Not Retired.

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What is the Difference Between Secured and Unsecured Debt?

Sawin & Shea

Secured debts are a type of debt backed by an asset that is used as collateral. If you miss payments and default on this type of debt, the creditor can seize the asset to liquidate it and apply those proceeds to the money you owe. What Happens When You Can’t Pay Secured Debts?