出于各种原因, some loans go bad and either are not paid as agreed or some other event occurs which the loan documents do not allow. 在这些情况下, our attorneys provide comprehensive legal services to lenders attempting to obtain repayment either from those obligated on the debt through litigation, judgment and post-judgment collection and/or from collateral recovery and liquidation through real estate and ship mortgage foreclosure, UCC和判决留置权出售, 还有其他方法. We have dedicated consumer and commercial paralegals trained and supervised to assist in all of these processes. Together our team has collected many millions of dollars in the face of fierce resistance from unwilling borrowers.
There is no set order which a creditor must follow to obtain recovery of a defaulted loan, but one of the first methods to consider is to file suit versus those obligated to repay the debt, which may be the borrower as well as any guarantors. Our attorneys are licensed in all Federal and State Courts in both Virginia and North Carolina and stand ready to start and aggressively pursue such claims to judgment and ultimately collection. 事实上, obtaining judgment is frequently the easier part of the process and the real work begins after one is entered. We are prepared to garnish wages and bank accounts, conduct debtor interrogatory depositions to locate income and assets, and place liens and levies on a judgment debtor’s personal property. We recognize however that some obligors are “judgment proof” and so we regularly discuss with our client all options and the costs and benefits of proceeding with any course of action.
Also high on the list of first steps in the collection process is to conduct a foreclosure of the real estate which secures repayment of the debt. Virginia and North Carolina have vastly different statutory requirements for conducting a foreclosure sale, but we have attorneys licensed and experienced in both states. 在消费贷款方面, Federal law imposes additional requirements but again our experienced attorneys stay up to date on the latest developments in the law and follow them strictly while still advancing the process as quickly as possible.
Not all loans are secured by real estate but instead are secured by collateral such as business inventory and equipment. Sales of those collateral types are primarily governed by the Uniform Commercial Code although every situation is unique and requires some interpretation. Our attorneys have conducted a number of such sales, sometimes with the assistance of auctioneers or other marketers. 关于判决留置出售, a judgment automatically becomes a lien on any real estate owned by the debtor in the jurisdiction where the judgment is docketed. Our attorneys are well versed in the process of conducting a judgment lien sale, 也被称为“债权人票据”, if necessary to recover proceeds to satisfy the claim.
Collateral recovery is generally a part of the collection effort as it is a process in and of itself. 例如, there are occasions where a creditor needs to have some level of control over real estate collateral prior to foreclosure. 类似的, if the collateral is business equipment, the creditor may need to make arrangements for recovery and/or sale with a landlord or other interested third party. 无论哪种情况, we have the knowledge and experience to follow the law but still obtain the property prior to a sale.