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Debtors Payment Plans

Dickinson Wright

A Payment Plan Does Not Equal a New Contract

Dickinson Wright on

When parties enter into a transactional contract, they are free to enter into a payment plan agreement for outstanding debt owed under the contract.  However, the payment plan itself does not necessarily mean that the parties...more

Kerr Russell

Bankruptcy Threshold Adjustment And Technical Corrections Act Enacted

Kerr Russell on

On June 21, 2022, President Joe Biden signed into law the “Bankruptcy Threshold Adjustment and Technical Corrections Act”. The Act restores the increase of the debt limit for small businesses filing for bankruptcy under...more

Manatt, Phelps & Phillips, LLP

[Webinar] Navigating the Challenges of Medical Debt Recovery - October 19th, 3:00 pm - 4:00 pm ET

With Medical Debt Hitting $140 Billion, Hospitals Are Taking Action. How Can You Maximize Collections While Minimizing Risks? Find Out at a New Manatt Webinar... New research published in the Journal of the American...more

Jaburg Wilk

Tips for Collecting What You Are Owed

Jaburg Wilk on

1. Make sure you have what you need from the start - Take advantage of all information needed to collect at the time the loan is made or the services are provided, including obtaining a security interest in collateral....more

Fox Rothschild LLP

Secured Creditors’ State Court Rights Affected By Proof Of Claim Choices

Fox Rothschild LLP on

Secured creditors have many choices when it comes to how to file a proof of claim in bankruptcies. Those choices should be weighed carefully, however, because certain choices can have important unexpected consequences that...more

Adler Pollock & Sheehan P.C.

Protecting Your Business: Payment Plans Are Not Necessarily Bankruptcy Proof

“Neither a borrower nor a lender be . . . .” Hamlet Act 1, scene 3, line 75 With all due respect to the great Bard, that simply isn’t possible in today’s business world. Even businesses that are not directly involved...more

Shumaker, Loop & Kendrick, LLP

The $382,901 Check Really is in the Mail

We recently delivered a $382,901 check to a client in payment of a Bankruptcy Section 503(b)(9) claim, known as a “20-day administrative” claim. The claim arose from the client’s pre-petition sale of goods to its customer....more

Winstead PC

Beware Of "Pocket" Judgments In Settlement Negotiations

Winstead PC on

In settlements, we often request that the debtor enter into an agreed judgment, perhaps with a simultaneous forbearance agreement outlining a payment plan. Debtors are often reluctant to sign these and typically ask that the...more

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