Prejudgment Attachment: When and How Can a Creditor Obtain an Attachment Order?

The typical collections process when we receive a new file includes sending a demand letter, filing a lawsuit, obtaining a judgment, and then beginning post-judgment execution against the debtor’s assets. The process can take several months to more than a year to get to the point where assets can be seized. In some cases, this lengthy process can be devastating to the ability to collect the debt. North Carolina law offers some prejudgment options that can be utilized immediately under the right circumstances. Among these is a prejudgment remedy known as attachment.

Podcast: Demand Letters: Waste of Money or Critical Part of the Process?

In this episode of the Vann Attorneys Legal Pad Podcast Attorneys James Vann and Ian Richardson dive into issues surrounding the use of demand letters. Topics include what information is contained in a demand letter, the legal significance, or lack thereof, of demand letters, and how to deal with responses to demand letters.

Collecting Debts Owed by Defunct Corporations and LLCs

Judgment creditors face unique challenges when attempting to collect a debt from a corporate entity as opposed to an individual. Among many challenges, one is what to do when a debtor corporation or LLC ceases to exist. It should come as no surprise that corporate entities are not always around forever. They are often merged with other entities, dissolved, or abandoned. While that may spell the end of the road for creditors, it is not necessarily the case.

Effect of Notice of Appeal on Judgment Enforcement

We often have situations arise where a debtor seeks to avoid execution on a judgment by giving notice of appeal to the North Carolina Court of Appeals. Often debtors, and even some lawyers, operate under the impression that if they appeal a judgment, a creditor is precluded from taking steps to execute on the judgment. This is an incorrect assumption.

Podcast: What Contract Terms are Needed for a Successful Collection Effort?

In this episode of the Vann Attorneys Legal Pad Podcast Attorneys James Vann and Ian Richardson discuss issues associated with business contracts. Topics include, whether credit should be extended, and how much, key contract terms, effective credit applications, and how to set yourself up to possibly recover your attorney’s fees if you must use a lawyer to collect on an account.

Podcast: Commercial Collections Basics

In this episode we provide an overview of the Vann Attorneys Legal Pad Podcast which will focus on issues that arise in business and credit and collections litigation. Attorneys James Vann and Ian Richardson provide a high level overview of the credit and collections process from the initial contract through post-judgment collection efforts. In the episodes which follow, James and Ian will breakdown each of the topics discussed in more detail.

Help For Creditors Regarding Collecting Out-of-State Judgments

Suppose you have a judgment against a debtor and the debtor either leaves the state or owns property in another state. How can you collect on your judgment? The answer to this question lies in a basic understanding of how these “foreign judgments” operate.

Collections Techniques in Bankruptcy

Jim Beck discusses discusses situations in which a bankruptcy is either beneficial to a creditor or only a mild hindrance to collection. Creditors should actively seek out opportunities to use the bankruptcy laws to their benefit and make sure there are no available recovery options prior to ceasing collection activities.

Webinar: What Happens To Your AR When Your Customer Files for Bankruptcy

Thursday, May 19, 2016 from 3:00 to 3:30 p.m.Vann Attorneys Webinar: What Happens To Your AR When Your Customer Files for Bankruptcy Join us for a conversation about how to best protect your company when your customer files for bankruptcy. What protections should you be putting into practice? How soon will you see your money? Do you have a potential preference …

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

NSF Checks: How to Respond When a Customer Issues an Non-sufficient Funds CheckBy James R. VannAttorney at Law 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 …

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 …

Webinar: Business Credit 2015: Brains, Experience & Relationships; Why These Three Matter

Thursday, February 26, 2015 from 3:00 to 3:30 p.m.Vann Attorneys Webinar: Business Credit 2015: Brains, Experience & Relationships; Why These Three Matter We all know the power of intelligence, experience and relationships with others. How does using these three qualities impact business credit in 2015? Join us as we discuss using intelligence, the value of experience and the power of relationships in …

Joint Check Agreements – Not a Silver Bullet

Joint check agreements, or joint pay agreements, are a common credit management device, and can be an excellent tool to make sure that you get paid when your customer does. In most cases, however, they do not create a situation where you can seek money directly from the general contractor. In order to use them effectively, it is important to …

The Dreaded Preference Action: How Long Until You Are Safe?

Receiving a notice that a customer has filed bankruptcy is never a good feeling, especially if that customer has been a large component of your business. The initial shock is generally followed by a feeling of unease regarding all of the recent payments you received from that customer and the knowledge that any payment received in the past 90 days …