by Jeff Folkersen | Sep 14, 2010 | Blog
You do. Seems simple enough. However, you would be surprised at the number of creditors that are under the mistaken belief that the debtor will be on the hook for any and all expenses associated with a creditor’s lawsuit to collect on a debt. For example, your...
by Jeff Folkersen | Aug 19, 2010 | Blog
According to a recent article in the New York Times, individual and corporate bankruptcies are at a five-year high. As a creditor, here are three things to keep in mind during these difficult financial times: 1) With the increase in “under water” secured...
by Jeff Folkersen | Aug 10, 2010 | Blog
Under Pennsylvania common law, “the primary difference between a surety and a guarantor is the time at which a creditor can collect from each. With regard to suretyship, the creditor can look to the surety for immediate payment upon the occurrence of a default by the...
by Jeff Folkersen | Jul 26, 2010 | Blog
Unfortunately, the Code does not require that the administrative claim be paid in full immediately after the Court allows the claim. Instead, the Code only sets the relative priority of the claim. In Chapter 11, a requirement for the confirmation of a Plan is that...
by Jeff Folkersen | Jul 8, 2010 | Blog
Since clients ask about this all the time, I thought it would be a good time to give a quick refresher on 20-day claims and briefly discuss how creditors are faring in Bankruptcy cases when it comes to 20-day claims. Under most state laws, a credit seller has...
