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NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds Check

Customer Issues a NSF Check that Does Not Clear Even with all the payment options available today, paper checks are still a popular form of payment especially in the business world.  So, what options are available to you to help recover the check if your customer’s NSF check does not clear?  North Carolina law provides several options for creditors. Civil Penalties The person or corporation who knowingly issues a check …Read More

Webinar: How to Handle Judgments in NC

Thursday, October 8, 2015 from 3:00 to 3:45 p.m.Vann Attorneys Webinar: How to Handle Judgments in NC Join our webinar as we discuss “How to Handle Judgments in North Carolina from a Creditor’s Perspective”. We will discuss how judgments are obtained, what to do with a judgment upon being issued by the court and how to turn the judgment into a valuable asset. When should you hire an attorney to help …Read More

Supreme Court Will Determine Whether ECOA Applies to Guarantors

About eighteen months ago, we wrote in this space about the Equal Credit Opportunity Act (ECOA) and its application to requiring spousal guaranties as part of extending credit to customers. Recently, the U.S. Supreme Court agreed to hear a case to determine whether the ECOA applies at all to guarantors. Under the terms of the statute, the law applies only to “applicants” for credit. In administrative regulations, the agency responsible …Read More

Foreclosing Deeds of Trust: Another Collection Tool

Over the past couple of years, there has been a substantial increase in foreclosures in North Carolina and around the nation. Certainly, the poor economy has been a major reason for the increase. However, according to the Greater Wilmington Business Journal, foreclosures in North Carolina declined in September. Many of our clients make use of Promissory Notes secured by Deeds of Trust on real property as a means of securing …Read More

Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk

Creditors should be aware that there are contexts in which payment can be exacted from a debtor without fear that the transfer will be avoidable at some future date.

−Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk

For suppliers of goods and services, nothing may be more unsettling than discovering that a customer has filed for bankruptcy. To add insult to injury, there is a risk that any recently received payment or settlement might be recaptured by the bankruptcy trustee as a preferential transfer or “preference.” The first thing to remember if you receive a letter from the bankruptcy trustee requesting money to be returned to the …Read More

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