As many landlords know, the daily costs of living can get expensive. For families who are struggling financially, paying rent each month can be a challenge. Fortunately, there’s a voucher system to help people get back on their feet.
Continue reading Things to consider when evicting Section 8 tenants
The federal automatic stay in bankruptcy is a powerful tool that protects a debtor in active bankruptcy. There are aspects of the stay creditors should know about before proceeding against a debtor to avoid violating it and incurring penalties.
Continue reading Dealing with the automatic stay when your debtor files bankruptcy
Though the recession is over and the real estate market has largely rebounded, there are still circumstances that may lead to homeowners defaulting on their mortgages. Perhaps they were laid off, are going through a divorce or maybe they are dealing with a large amount of debt.
Continue reading How to proceed with a foreclosure in South Carolina
As a business owner, you probably work with other businesses on a daily basis. Your company provides valuable services to the community, consumers and companies. In return, you expect to be compensated. Unfortunately, not all businesses fulfill the financial agreements. Despite efforts to contact the business and receive payment, they ignore your attempts. This denial could be the result of the other business facing financial hardships.
Continue reading Bankruptcy workout plans offer alternatives for businesses
There is always the chance it will turn into an expensive, time consuming process for you when you’re forced to evict a tenant. Whether they were once a good tenant who went afoul of their lease, or are problematic and must be removed, evictions are seldom neat and tidy.
This is why it’s often a good idea to have an experienced attorney on your side to ensure the eviction process goes smoothly and you can carry on with your business. Even drafting the proper documents requires considerable precision and an eye for detail. A skilled eviction lawyer will put in the extra time now to make sure things don’t become tangled later.
Continue reading Questions to ask yourself before evicting a tenant
Movies and television have popularized the “repo man,” and the sight of muscle-bound men hauling away furniture, vehicles, and other possessions. Repossession is a well-known concept among the public.
Replevin is much less known–it can be more expensive and take longer, so most businesses choose not to utilize it.
Continue reading Repossession vs. replevin: When to turn to replevin
If you are a rental property owner, you have probably had to evict tenants for non-payment of rent. It’s a process that no one wants to go through as it is complicated and often heartbreaking. The process is rarely orderly and property damage is far too common.
If your tenant has declared bankruptcy, however, it becomes even more complicated. It may take months to fully resolve. When this happens, time is of the essence and experience with bankruptcy and debt collection becomes even more important than ever.
Continue reading Tenant bankruptcy and eviction
We all understand that people can get in over their heads and will use the protections of Chapter 13 bankruptcy to keep their property while making payments. But what does this mean if you are the creditor?
Let’s put it right out there: you have rights too. However, there are some things you shouldn’t do as well as some best practice things you should be doing when your borrower files for bankruptcy.
Continue reading When your borrower files for bankruptcy: The dos and don’ts
A lot has been written about lease negotiations for good reason. You should never take a commercial lease for granted. It’s one of the most significant contracts a business owner signs, and a single paragraph of ambiguous language in a commercial real estate lease can result in years of frustration or possible lawsuits.
There are a few noteworthy trouble spots in commercial real estate leases that you want to avoid. Here are a few:
Continue reading Important considerations of lease negotiations
It is one thing for a customer declaring bankruptcy to discharge its debts to you as uncollectable. But there is an even worse outcome that can occur, called a preference action.
You know you are in a preference action when your company receives a letter of demand from either the debtor or the trustee. The demand is for immediate payment. It will feel like money is going in the wrong direction, and it is.
Continue reading Defending against preference actions in bankruptcy