The amendments to Article 9 are scheduled to take effect in a few short months. All creditors that file UCC Financing Statements to secure their interests in personal property need to understand the changes taking place. As Article 9 stands presently, in order for your security interest to be properly perfected, you must name an organization with the “registered name” as found in the public records of the applicable jurisdiction ...

In California, when a creditor obtains a judgment from the courts against a debtor, that creditor must then go through the process of locating assets that the debtor has that can be levied upon. In order for a creditor to find assets such as bank accounts, real property, vehicles, brokerage accounts, or employment information, the courts allow creditors to apply for and file with the court, an Application and Order ...

This article only addresses proofs of claim in Chapter 7 bankruptcy proceedings. The general rule for proofs of claim is: Proofs of claim must be filed on or before any deadline set by the bankruptcy court for filing proofs of claim. The corollary to this rule is: Proofs of claim do not need to be filed in bankruptcy cases where a deadline for filing proofs of claim is not set. A deadline ...

I have found that there are four things in life one can always count on. They are change, death, taxes and that when entering into settlement negotiations with a debtor, at some point in the discussion the debtor will threaten to file bankruptcy. In fact, this happens so frequently that I find myself making bets with my associates as to how many seconds into the conversation these magic words will ...

A few years back when the economy was better, it was quite common for credit managers and loan officers to hold on to their delinquent accounts for up to six months trying to work out a payment plan with their debtors. In fact, it made economic sense to hold on to delinquent accounts for as long as possible, because once an account was turned over to an attorney, the monies ...

Unfortunately fraud is extremely prevalent in business credit today. One reason for this is that in this tough economy, many businesses are so eager to make the sale, that they do not perform as thorough a credit check as they should. Another reason for an increased amount of credit fraud, is due to otherwise honest individuals "fudging" on their credit application to make sure they are extended the credit they ...