If you are a creditor that is attempting to collect on a debt that is owed, it is essential to understand how time-barred debt could impact your ability to collect. In short, there is a statute of limitations on debt.…

Most creditors in Columbia, South Carolina know about the Fair Debt Collection Practices Act (FDCPA) and know that debt collectors are required to abide by the terms of debt collection outlined in this federal law. But can creditors also be subject to…

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.

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.

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. Though you have sympathy for their issues, your company needs this money to continue doing business. If a homeowner stops paying a mortgage, he or she has broken the mortgage agreement. As a South Carolina lender, you have the right to foreclosure on the property. Before your company begins the process, here are some things you and your team may need to know.

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 bankruptcy and financial hardships.

There is always the chance it will turn into an expensive, time-consuming process for you when you’re forced to evicting 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.

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.

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.

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.