The Financial Crimes Enforcement Network (FinCEN) is a Treasury Bureau with key requirements for many financial businesses. FinCEN regulations aim to prevent money laundering and other financial offenses. When necessary for a business, complying with FinCEN regulations is critical to avoid legal or even criminal consequences. Beginning January 1, 2024,…
Continue ReadingLender liability claims are among the most complex cases that lenders will face at some point. These claims are brought against small and large banks, private and commercial lenders, leasing companies, mortgage lenders, finance companies, and even retailers and auto dealers. Lender liability law provides strong protection for borrowers. In…
Continue ReadingEffective debt collection is integral to the financial health and viability of any business. Fortunately, when bills pile up because creditors can’t collect the money they’re owed, the law provides a range of rights, like the ones below, to help make certain that they recover the money they are entitled…
Continue ReadingThe answer to this question varies based on the specific kind of debt that the creditor is trying to collect. The statute of limitations on debt collection in Arkansas refers to the time limit or deadline given to creditors for collecting debt through legal channels. The time limit, which is…
Continue ReadingWhen an account goes into collections, there are state and federal laws in place to help protect both creditors and borrowers, and a better understanding of these laws can help you better protect your bottom line. If you’re facing a concern related to debt collections, reach out for the skilled…
Continue ReadingColorado has some unique banking laws and regulations regarding consumer credit, and a recent law helps emphasize this point. If you have questions or concerns regarding your rights and ability to collect on consumer debt, don’t hesitate to consult with an experienced Colorado business and banking attorney. A Limit on…
Continue ReadingWhether you have a startup, already have a thriving business, or are considering opening a business, it’s in your best interest to seek guidance from a competent Colorado banking and finance lawyer. They can advise you on how to structure and operate your business to meet your goals and ensure…
Continue ReadingIf you own a business and are owed money from a customer or vendor, you may wonder if you can recover the amounts owed if they file for bankruptcy. When someone who owes you money files for bankruptcy, their debts do not magically disappear. The type of bankruptcy they file…
Continue ReadingCreditor objections often play a pivotal role in shaping or defeating a Chapter 11 plan. In Chapter 11 bankruptcy, the debtor proposes a reorganization plan to restructure debts while continuing operations. It is like a Chapter 13 plan except that it’s for businesses. But this doesn’t mean creditors are powerless. …
Continue ReadingBankruptcy isn’t a get out of jail free card for debtors. Although it stops collections and stays litigation, both secured and unsecured creditors have significant rights during the bankruptcy process. At Brown Dunning Walker Fein Drusch PC, we’ve been representing the rights of lenders during bankruptcy proceedings since 1987. Our…
Continue ReadingAlthough Chapter 7 petitioners are required to disclose their creditors, this does not guarantee the security of your claim. Creditors must still take quick and decisive action to protect their interests once a debtor files for Chapter 7 bankruptcy in Colorado. For over 30 years, the dedicated creditors’ rights lawyers…
Continue ReadingWhether Chapter 7 creditors can get all their money back during bankruptcy proceedings depends on their priority status, if any, and the debtor’s assets. Unsecured creditors –such as credit card companies– rarely recover all their money. However, certain secured and priority unsecured creditors might obtain some relief if they work…
Continue ReadingBankruptcy creditors are defined as those with claims against the debtor that arose before the bankruptcy case was filed. Because bankruptcy involves tiered payments –whether in a lump sum or through a repayment plan– some creditors have priority over others. This gives them the first right to repayment when the…
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