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 …
Wednesday, June 18, 2014 from 3:00 to 3:30 p.m. Vann Attorneys Webinar: Credit Management 101: The Practical Steps of Effective & Efficient Management of Accounts Receivables Understanding the basics of business credit is important to strengthen your overall knowledge and business credit for all companies. We will discuss the foundations of business credit with topics such as reviewing contract terms and conditions, …
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 …
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 …
Obviously, creditors would like to obtain as much security as possible prior to making a loan, but it is also important to keep in mind the Equal Credit Opportunity Act (ECOA). For anyone not familiar with the ECOA, it is a federal law that prohibits lenders from discriminating against borrowers based on their race, religion, national origin, sex, or marital …
Renewing a Judgment for Money in North CarolinaBy James R. VannAttorney at LawSuppose your business was awarded a substantial money judgment eight years ago and it has never been collected or only a portion was collected. You know that your judgment is valid for ten years from the date it was awarded by the Court, and you do not want …
Most businesses and business people are all too familiar with the protracted exercise that is involved when attempting to collect on a judgment. Few, however, are as familiar with two potentially powerful methods that can be used before entry of a judgment and may alleviate the need for drawn out post-judgment execution proceedings.
Obtaining a judgment in court is only the first step in pursuing delinquent accounts. While a judgment is a binding acknowledgement that money is owed, it does not actually force a debtor to pay. In light of that, and in order to combat a debtor’s avoidance efforts, there are some important things that need to be done after a judgment …
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 …
North Carolina has been making headlines. Why? Because in October 2010, the state’s residential foreclosure rate increased 40 percent from last year’s figure and 13 percent from September 2010’s figure. According to the Irvine, CA based company Realty Trac Inc., which keeps tabs on default notices, auction sale notices, and bank repossessions, in October 2010, 4,818 North Carolina homes were …
In the recent North Carolina Court of Appeals case, Gardner v. Tallmadge, the Court held that a foreign judgment (a judgment issued in another state) was not enforceable in North Carolina since the Ohio court that originally issued the judgment lacked subject matter jurisdiction to do so. In Gardner, Mr. Tallmadge entered into a demand cognovit promissory note with Mr. …
