Bankruptcy filings affect businesses across America. The Bankruptcy Code is complex and difficult to navigate. But used properly, it can helpcreditors to minimize losses when a customer files bankruptcy. ...more
6/11/2024
/ Attorney's Fees ,
Automatic Stay ,
Bankruptcy Code ,
Chapter 11 ,
Chapter 13 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Insolvency ,
Liquidation ,
Proof of Claims
Bankruptcy offers debtors an opportunity for a "fresh start," the primary draw for many individuals seeking to unburden themselves of their debt. A bankruptcy discharge relieves a debtor of their legal obligation to repay...more
Recently, I had the privilege to attend the 29th Annual Factoring Conference in New Orleans. This annual conference is a unique event presented by the International Factoring Association (IFA), which caters to lenders and...more
Most community associations already know the Planned Community Act allows them to place a lien on a delinquent homeowner's property and foreclose on that interest. But to do so, associations must comply strictly with the...more
Creditors know that when a debtor files bankruptcy, the "automatic stay" prohibits further collection activity to give a debtor breathing room to reorganize his affairs. If a creditor willfully violates the stay, it can be...more
Last month, I attended the 28th Annual Factoring Conference presented by the International Factoring Association (IFA) in Boston.
This is the world's largest conference of its kind, dedicated solely to banks, lenders,...more
The Fair Debt Collection Practices Act (FDCPA) is a dense federal statute that governs debt collection.
If you have read some of my previous articles on the topic, you will recall that this set of laws, in conjunction...more
The North Carolina Court of Appeals issued a decision recently, providing clarity on how much time creditors have to domesticate a foreign judgment to North Carolina.
While the current statutory framework may appear...more
In North Carolina, many lawsuits result in the entry of a judgment that establishes one party's right to collect payment of a certain amount of money from another party. It may be easy to view the entry of judgment as the...more
Whether you are a board member or a property manager for a community association ("Association"), you have probably dealt with owners that fail to pay their assessments, and whose accounts need to be referred for...more
Many community association managers know that a lien can be placed on a delinquent owner's lot as a method of securing repayment of assessments.
In many cases, the mere threat of having a lien placed against the owners'...more
In a short period of time, COVID-19 has changed the way we live and conduct business.
Sadly, the pandemic seems as though it will cause (or already has caused, depending on who you ask) a devastating impact on our local...more
In the last week, COVID-19 has upended the normal routines of daily life in America. While the health and safety of all Americans is the paramount concern, the economic impact is a reality that cannot be ignored....more
How does a creditor enforce a judgment against a debtor who either relocates to another state, or owns property in another state?
If the judgment is not paid and satisfied, can the creditor follow the judgment-debtor...more
It may be hard to believe, but community associations ("Associations") occasionally deal with homeowners who don't think they are required to pay assessments.
The reasoning for these beliefs can range from "I don't use the...more
While relatively new to North Carolina's farm economy, industrial hemp is gaining traction as a promising cash crop.
Interest and acceptance are growing among market participants, both inside and outside of our state. The...more
6/4/2018
/ Agricultural Sector ,
Controlled Substances Act ,
Decriminalization of Marijuana ,
Emerging Markets ,
Federal Food Drug and Cosmetic Act (FFDCA) ,
Hemp ,
Manufacturers ,
Marijuana ,
Marijuana Cultivation ,
Marijuana Related Businesses ,
State Pilot Programs
Limited liability protections afforded by various corporate, limited liability, or limited partnership laws normally insulate business owners from personal liability for their business's debts.
However, lenders routinely...more