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 Check By 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 …

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 …

Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk

Preferential Transfers in Bankruptcy: How to Minimize the Preference Risk By James R. VannAttorney at Law   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 …

Cashing a Customer’s Check: What Creditors Need to Know about Accord and Satisfaction

Cashing a Customer’s Check: What Creditors Need to Know about Accord and Satisfaction By James R. VannAttorney at Law   We had a webinar on this topic on Tuesday, May 13, 2014 from 3:00 – 3:30 p.m.   Our webinar was titled : Handling Money of Others – Sales Tax, Escheat Property & Cashing Checks.  Visit our event page for details. You have …

Enforcement of Foreign Judgments: Information For Creditors Regarding Collecting Out-Of-State Judgments

Enforcement of Foreign Judgments: Information For Creditors Regarding Collecting Out-Of-State Judgments By James R. VannAttorney at Law   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 …

Bankruptcy, Dismissal & Statutes of Limitation: A Landmine For The Unwary

Bankruptcy, Dismissal & Statutes of Limitation: A Landmine For The Unwary By James R. VannAttorney at Law   A recent opinion issued by the North Carolina Court of Appeals should serve to remind all creditors of the necessity of vigilance when a debtor is in bankruptcy. In Person Earth Movers, Inc. v. Buckland,N.C. App. , 525 S.E.2d 230 (2000), the …