When a Tennessee borrower files for bankruptcy while going through foreclosure, lenders immediately face long-term title risks and legal exposure. Bankruptcy filings trigger the automatic stay, stopping foreclosure activity and collection efforts. At this stage, brief missteps by a lender…
As a property owner, you’ve likely had your share of tenants who push the limits when it comes to paying late. But what happens when a tenant declares bankruptcy in a way to avoid eviction when they know they cannot…
Federal law allows a consumer or business to file for bankruptcy under certain circumstances. Although creditors have the right to repayment of their debt through the bankruptcy process, they often end up with less than the full amount that they…
If you’re a creditor, the prospect of a debtor filing for bankruptcy in North Carolina can be concerning, raising questions about your ability to recover the money owed to you. However, North Carolina bankruptcy isn’t a one-sided process. Creditors have…
If you’re a South Carolina business owner who is owed money by a customer, the phrase “automatic stay” might evoke concern, especially when you’re anxious about recouping outstanding debts. When a debtor files for bankruptcy in South Carolina, the automatic…
Filing for bankruptcy offers debtors a degree of protection from the collection of unsecured debt. However, as a creditor, you may wonder how to protect yourself and recover your money when one of your debtors files for bankruptcy. The good…
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…
It is not uncommon for businesses to have mutual debts. As long as both firms are able to fulfill their financial obligations, there will not be much of a problem. However, if one of the companies hits a financial rough…
When a commercial tenant files for Chapter 11 bankruptcy, the commercial landlord can find itself in a difficult position. The tenant may owe unpaid rent, and the landlord will likely be concerned about getting that unpaid rent and any future…