Repossession and Foreclosure of Personal Property
In today’s age of high prices for everything from cars to furniture, from flat screen TVs to washing machines, many businesses find it necessary to allow their customers to buy things on credit. Some businesses choose not to offer credit cards or credit lines but instead allow a customer to purchase a particular item on credit which allows the business to keep a security interest in …
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What Is Fraudulent Conveyance and How Can I Avoid it?
The Classic Fraudulent Conveyance The classic fraudulent conveyance occurs when a person intentionally transfers property to another with the intent to defraud, hinder, or delay a creditor’s ability to collect on a debt. For example, let’s say a car dealership finances a car for a buyer based on the buyer’s credit report and bank account funds. Later, the buyer transfers his …
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