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. What Options do Florida Creditors Have for the Recovery of Personal Property? Self-Help Repossession.

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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. Debtor’s Consent to the Entry and Repossession.

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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). 679.620(6).

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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. If a secured creditor breaches the peace, it may be liable to the debtor for damage done to the debtor or its premises during an unauthorized entry.

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Collateral Loans Secured Creditor Lender 98

PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view. .’

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Bankruptcy Debtor Creditors Repossession 65

Consumer Financial Services Law

JANUARY 31, 2020

2019) that creditors who refuse to relinquish an item that was seized pre-petition are not subject to sanctions because their refusal does not violate 11 U.S.C. § Joy Denby-Peterson purchased a 2008 Corvette in July 2016, and several months later the vehicle was repossessed when Denby Peterson failed to make all of the required loan payments.

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Collateral Repossession Bankruptcy Chapter 13 bankruptcy 40

Sawin & Shea

JANUARY 25, 2022

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?

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