As a landlord in North Carolina, you must adhere to a certain set of rules to maintain a positive, legal relationship with your tenants. However, North Carolina laws are largely favorable to landlords, which means you also enjoy plenty of…
When a business owner files for bankruptcy, creditors might be concerned about how and what they'll recover for debts owed. Here, we’ll discuss which business debts could be discharged in Chapter 7 bankruptcy and your rights as a creditor. Debts…
Chapter 11 bankruptcy (“reorganization bankruptcy”), in most instances, allows a business to remain in possession of its assets, continue operations, and in some instances, borrow new money. Affected creditors can vote on the company’s reorganization plan, and the court may…
Collecting money from a debtor who refuses to pay can be challenging, especially in this economic climate. When cash is unavailable, property can sometimes be seized to make good on a debt. However, in South Carolina, certain property, or equity…
In some instances, creditors can recover what they’re owed through a process and procedure called “receivership.” This is a state court process that allows for the preservation of assets and the equitable distribution of an insolvent debtor’s assets. This often…
As a creditor, you’ll see hundreds, if not thousands, of people who owe you money file bankruptcy in their bankruptcy schedules in an attempt to get out from under their debt. This is perfectly legal, of course, but you may…
It’s one thing to win your case against someone who owes you a debt, but it’s another thing entirely to collect on the judgment. Collecting on a judgment may be challenging for various reasons, but it is up to you,…
The Fair Debt Collections Practices Act (FDCPA) limits what type of contact debt collectors and loan servicers can have when attempting to collect a debt. As of November 30, 2021, a final rule amending Regulation F will take effect,…
Mortgage Servicers Are Reminded to Check Those Boxes! On June 25, 2021, the Consumer Financial Protection Bureau (CFPB) handed down a new rule amending Regulation X of the Real Estate Settlement Procedures Act (RESPA), to assist mortgage borrowers affected by…
If you are owed money by someone who has passed away, you might need to file a claim in probate court in order to collect the debt. The South Carolina Probate Code outlines specific requirements that you must meet in…