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. Self-Help Repossession. Self-help asset recovery is more commonly known as repossession. 2d 752 (Fla.

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Secured Creditor Repossession Collateral Creditors 98

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). In Hohns v.

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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

Consumer Financial Services Law

JANUARY 31, 2020

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. After repossession, Denby-Peterson filed an emergency Chapter 13 Bankruptcy petition in the Bankruptcy Court for the District of New Jersey. any act to.

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Collateral Repossession Bankruptcy Chapter 13 bankruptcy 40

Troutman Sanders

APRIL 24, 2023

In its analysis, the court noted initially the complaint’s admission that the plaintiff had failed to make payments on her loan since 2021, which resulted in the vehicle being repossessed and sold at auction.

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Loans Repossession Secured Creditor Construction 52

Sawin & Shea

NOVEMBER 15, 2023

That means that you must continue to pay on most secured debts to keep or hold onto the collateral. This is a voluntary agreement between a secured creditor and the debtor that re-obligates the debtor on the secured debt. The debtor must maintain regular payments on the secured loan in order to keep the collateral.

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Unsecured Debt Chapter 7 bankruptcy Collateral Bankruptcy 52