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Legal Articles

  • Charging Off a Bad Debt: How, When and Why to Do It
    For many creditors, the frustrating reality is that it costs money and it takes time to recover the money that is legally owed to them if a borrower stops repaying a loan. The costs of debt recovery can be significant. Foreclosure, for example, can be expensive and take over a year to complete in some states. Therefore, many businesses choose to write off their bad business … more
  • Property That is Exempt From Bankruptcy
    Has one of your borrowers filed for bankruptcy? Are you concerned about recovering the money that you loaned to the borrower? Many creditors are concerned and rightly so. Often, a borrower who is filing for bankruptcy protection has several debtors who need to be paid from a finite amount of assets and not all of a borrower’s assets can be used to satisfy his or her debts … more

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