Law Firms Lender Repossession 
Jimerson Firm
NOVEMBER 16, 2020
When a borrower applies for a loan, most lenders require the borrower to pledge an asset as security for the repayment of the loan, i.e. 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. 679.609, Fla.
Jimerson Firm
NOVEMBER 23, 2020
When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. In Florida, the lender can choose from the following methods: UCC Sale. See SOP 50 57. 679.609(2)(b), Fla.
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Jimerson Firm
NOVEMBER 11, 2020
Site visits allow lenders and CDCs to gain a first-hand impression of the borrower’s business operations, evaluate risks, and inventory the collateral. Frequent site visits help lenders and CDCs make prudent lending decisions by keeping them up-to-date with the condition of the collateral and the borrower’s business operations.
Credit Corp
AUGUST 25, 2020
It’s a notice on your credit reports that encourages lenders to take extra precautions when approving credit in your name. Repossession and foreclosure. In certain cases, creditors must get court orders to repossess or foreclose on property of an active service member. Place an Active Duty Alert on Your Credit Reports.
Credit Corp
APRIL 2, 2024
Repairing your credit often requires more than responsible credit management—you also may need to have inaccurate negative items removed from your credit report, such as missed payments, debt collections, repossessions and more. Negotiate Debt Settlements With your permission, your attorney can also speak to lenders on your behalf.
Sawin & Shea
MARCH 7, 2023
When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. However, if you used your home or car as a secured debt with a lender, you may need to return the property to the lender if you don’t pay as agreed.
Debt Free Colorado
MARCH 3, 2023
Every case is unique, and every case merits the careful consideration of a law firm dedicated to providing specialized bankruptcy solutions. For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. What Can’t Bankruptcy Do?
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