Remove Creditors Remove Law Firms Remove Secured Creditor
article thumbnail

Law firm ‘disappears’ owing £37.5m to Creditors

UK debt collections

The administrators of a collapsed Liverpool law firm have admitted they do not know if creditors will receive a return, amid ongoing uncertainty over exactly how the business came to grief. Meanwhile, the amount owed to creditors within a year jumped from £5.8m a year before.

article thumbnail

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. 679.609, Fla. What Does it Mean to “Breach the Peace”?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

What are the Conditions Precedent (if any) to Perfecting a Claim to an Assignment of a Life Insurance Policy as Security Collateral for a Loan?

Jimerson Firm

Furthermore, in the event the collateral was pledged to multiple lenders, lenders will need to know how to discern whether their assignment of life insurance takes precedent over the collateral interest of a competing secured creditor. appeared first on Jimerson Birr Law Firm.

article thumbnail

9th Cir. Reverses Trial Court Ruling in Favor of Defendant on FDCPA Claim Related to Bankruptcy

Collection Industry News

In January 2009, after a homeowner (“debtor”) fell behind on his homeowners’ association (HOA) dues, a law firm acting as a debt collector for the HOA sent notices to the debtor regarding the unpaid debt. The law firm filed a separate proof of claim for the HOA, and the debtor’s Chapter 13 plan was eventually confirmed.

article thumbnail

10 Common Questions About Bankruptcy

Debt Free Colorado

Are My Creditors capable of appealing My Bankruptcy? Every case is unique, and every case merits the careful consideration of a law firm dedicated to providing specialized bankruptcy solutions. Are there Available Alternatives If You Have a Lot of Debt and don’t Want to File for Bankruptcy? What Can’t Bankruptcy Do?

article thumbnail

JUST IN TIME: NEW BANKRUPTCY RELIEF FOR SMALL BUSINESSES – NEW YORK LAW JOURNAL

Collection Industry News

Creditors will also benefit from the lower costs, quicker proceedings, and increased certainty about the outcome of the process, if at the expense of some leverage. Owners now have a way to keep their equity ownership even over the objection of creditors. This trustee may even interface with creditors in negotiations.