The vast majority of bankruptcy cases begin when a debtor files a petition seeking relief from creditors. This document is known as a “Voluntary Petition” and usually results in the bankruptcy court assuming jurisdiction over a debtor’s assets and, in the case of an individual, entry of an order discharging pre-bankruptcy debts. Debtors are not […]
Creditor’s Rights: 6 Tips To Get The Information You Need In A Deposition In Aid Of Enforcement In many lawsuits, the real challenge begins after the plaintiff becomes a judgment creditor by winning the judgment. Collecting from the defendant can feel daunting, even impossible. Sometimes defendants have transferred their assets, hid their assets or have […]
Bankruptcy And The Frozen Bank Account: Keep Your Money On Deposit Safe When deposit account holders write a check or make a withdrawal, they may believe that they are accessing their own money, but that is not precisely true, for important reasons. What is actually happening is that the account holder is making demand upon […]
Use A Forbearance Agreement To Negotiate With Your Creditors And Stay Out Of Bankruptcy Anyone in business will tell you that bumps come up in the road. Temporary dips in sales, problems collecting accounts receivable, even adding expense to manage a potentially profitable new line of business may all contribute to creating a cash flow […]
Shifting the Power Dynamic: A Baltimore Creditors’ Rights Lawyer Shows Financial Institutions How to Regain the Upper Hand with Debtors Today’s politics and news reports tend to paint the economic recession in a mostly one-sided way, and the story is that creditors have debtors in an iron-fisted grip. If one were to subscribe to this […]
Distressed Maryland debt Certain states impose a heightened burden on debt collectors in order to regulate the collection of delinquent debt. In Maryland, investors in bad debt need to obtain a license to collect this debt; failure to do so may lead to violations of both federal and state consumer protection laws. The Maryland law […]
Foreclosures are amongst the most local kind of law there is: every state and county has its own procedure for allowing lien creditors the right to force a sale of property to pay down the debts secured by the real property in its jurisdiction. In judicial foreclosure states, the note holder files a lawsuit asking […]
I recently received a letter from the Sussex County Sheriff regarding their December 2012 foreclosure schedule. Here is the text: TO: ALL ATTORNIES, NEWSPAPERS The Sussex County Sheriff’s Office would like to inform the public, attorneys and newspapers that we will NOT be holding a Sheriff’s Sale in the month of December due to the […]
The San Diego City Council this month approved the creation of a foreclosure registry, which requires banks to log every San Diego city home in the foreclosure process into a city-run database. Local experts are almost unanimous that this is NOT an idea whose time has come. • Paul Barnes: President of Shea Homes San Diego: […]
Guernsey Bank is a small, privately owned Ohio bank that is approaching bank foreclosures in a revolutionary way: they are fixing up homes and renting them out until the right buyer comes along. This practice is contrary to most banks’ tendency to credit bid on their foreclosure auctions, keep the usually beaten-up properties vacant and […]
