My long experience in determining claims of creditors for distribution in liquidation cases has led to a new experience. I've been appointed by the Superior Court of Cabarrus County as the arbitrator to determine the distribution of approximately $500,000 to between more than 150 potential claimants.The process has been carefully crafted to avoid long, drawn-out, and expensive litigation. … [Read more...]
Texting to Collect?
May 21, 2010 By
We work with both debtors and creditors, which makes the issue of texting to collect on past-due debts very interesting. A South African study showed that using cellphone SMS messaging in debt collection has driven response rates as much as 200% higher than what was achieved by letters and even summonses.From the debtor's perspective, a text reminds without feeling confrontational. Text … [Read more...]
If The Paperwork Is Wrong, It’s Not Enforceable
May 6, 2010 By
In this recession, it is no surprise that the Federal Trade Commission -- which has primary enforcement responsibility as to the Fair Debt Collection Practices Act -- reports an absolute increase in the number of complaints by consumers about third-party debt collectors' practices. An April 21, 2010 slip opinion by the United States Supreme Court in the matter of Jerman v. Carlisle, McNellie, … [Read more...]
The Importance of Paperwork
September 9, 2009 By
The American Bankruptcy Institute covered this story from New York concerning foreclosures: While the nation’s largest banks come to his court seeking to take the homes of New Yorkers who cannot pay their mortgages, New York State Supreme Court Justice Arthur M. Schack rejects nearly half of the banks’ motions because the foreclosure papers contain errors, the New York Times reported … [Read more...]
Texting for Collections
August 24, 2009 By
The law lags often behind technological advances; one example is the area of debt collection. While financial service providers send 12 million text messages per day, most of them are service-related (such as account balance alerts) and permitted by the account holder.However, if you are a creditor thinking of using text messaging as part of your collections efforts, you might think twice … [Read more...]
In Financial Distress?
June 25, 2009 By
We help clients facing these financial difficulties:Foreclosures, wage garnishments, creditor harassment and repossessions Creditor negotiation (including credit card companies) to lower debt and avoid bankruptcy Restructuring, liquidating and winding down troubled operations Negotiate unpaid taxes with local, state and federal agencies Asset planning and protection after a harmful … [Read more...]