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4 Nov 2021, 6:01 am
Creditors lend money to debtors under the presumption that these debts will be repaid. [read post]
3 Nov 2021, 2:16 pm
Most of our clients actually see their score improve, because their debt-to-income ratio instantly improves, and because creditors are required to remove any negative reporting from the credit report. [read post]
3 Nov 2021, 2:08 pm
The medical provider may sue you in the future and win a monetary judgment against you, or it could also result in wage garnishment, a bank levy, or the placing of a lien against your non-exempt property.Medical BankruptcyIf you can’t pay the bill and it appears that the creditor will pursue you for payment, your good credit will suffer since a collection action will appear on your credit report. [read post]
3 Nov 2021, 9:00 am
Court of Appeals for the Sixth Circuit recently ruled in a case involving a Chapter 13 debtors’ attempt to shield contributions to a 401(k) retirement account from “projected disposable income,” therefore making such amounts inaccessible to the debtors’ creditors.[1] For the reasons explained below, the Sixth Circuit rejected the debtors’ arguments. [read post]
3 Nov 2021, 8:16 am
Sutterer, 869 NE 2d 354 – Ill: Appellate Court, 5th Dist. 2007 Furthermore, married people in Illinois, if they buy the home they’ll live in, they are automatically deeded the home as a tenancy by the entirety which further protects the home from creditors. [read post]
3 Nov 2021, 8:15 am
Dykema’s work with debt collectors and the financial services industry informs our ability to maneuver complex FDCPA and creditor rights litigation. [read post]
3 Nov 2021, 6:00 am
Tom has represented debtors, creditors, creditors’ committees, and purchasers of property in bankruptcy and has represented creditors in cases like Enron and Mirant Energy. [read post]
2 Nov 2021, 6:30 pm
Jim’s practice focuses on commercial litigation including a concentration on representation of state court and federal equity receivers, director and officer litigation, financial services representation, lender liability defense and creditors’ rights. [read post]
2 Nov 2021, 5:48 pm
Usually very quickly after the creditor files the request, the court will formally enter a judgment against you in favor of the creditor. [read post]
2 Nov 2021, 12:49 pm
As the Hunton Insurance Recovery Blog noted in its post about this ruling, the underlying claim does provide “another example of different claims that can come out of the pandemic and other adverse events,” noting in particular that D&O policies “may be implicated for future pandemic-related losses for government investigation, insolvency-related claims by creditors, trustees, and other company stakeholders involved in bankruptcy, False Claims Act and qui tam… [read post]
2 Nov 2021, 12:49 pm
As the Hunton Insurance Recovery Blog noted in its post about this ruling, the underlying claim does provide “another example of different claims that can come out of the pandemic and other adverse events,” noting in particular that D&O policies “may be implicated for future pandemic-related losses for government investigation, insolvency-related claims by creditors, trustees, and other company stakeholders involved in bankruptcy, False Claims Act and qui tam… [read post]
2 Nov 2021, 8:49 am
After long negotiations, creditors were offered 55 per cent on the dollar. [read post]
2 Nov 2021, 4:00 am
Compound interest is claimable only in certain defined circumstances namely (a) where parties agree to pay compound interest (b) if the obligation to pay interest is alleged and it is proved that in the circumstances of the agreement (for instance arrear rentals) it is a universal custom in relation to such an agreement (for example a lease) for the creditor to charge compound interest on overdue amounts as a uniformly and universally observed practice throughout South Africa in… [read post]
2 Nov 2021, 4:00 am
Compound interest is claimable only in certain defined circumstances namely (a) where parties agree to pay compound interest (b) if the obligation to pay interest is alleged and it is proved that in the circumstances of the agreement (for instance arrear rentals) it is a universal custom in relation to such an agreement (for example a lease) for the creditor to charge compound interest on overdue amounts as a uniformly and universally observed practice throughout South Africa in… [read post]
1 Nov 2021, 7:07 am
D&O policies in particular may be implicated for future pandemic-related losses for government investigation, insolvency-related claims by creditors, trustees, and other company stakeholders involved in bankruptcy, False Claims Act and qui tam claims, and cyber-related claims from shareholders or customers. [read post]
30 Oct 2021, 9:00 pm
Before, it enabled collective creditor remedies against merchant debtors; after, it provided relief to insolvent debtors threatened by economic oppression. [read post]
30 Oct 2021, 3:06 am
Additional provisions can be added to the trust to increase protections against creditors, divorcing spouses, and predators, and to ensure that the trust beneficiary benefits from the money. [read post]
29 Oct 2021, 3:02 pm
Clients are often surprised that creditors may put a lien on their homestead property, thinking because its homestead, it is protected against creditors. [read post]
29 Oct 2021, 9:47 am
The creditor has the burden of showing nondischargeability by a preponderance of the evidence; the relevant exception is § 523(a)(6), which excepts from discharge any debt “for willful and malicious injury by the debtor to another entity or to the property of another entity. [read post]
29 Oct 2021, 7:00 am
L’etat est moi loses its charm if one is a creditor worried about being paid back. [read post]