Bankruptcy

Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds. What is Article 9 explained? Article 9 protects your right to freedom of thought, belief…

During a Chapter 7 bankruptcy, a court wipes away your qualifying debts. Unfortunately, your credit will also take a major hit. If you’ve gone through a Chapter 7 bankruptcy, you’ll need to wait at least 4 years after a court discharges or dismisses your bankruptcy to qualify for a conventional…

Real Estate – Real estate which is to be transferred into a trust must be conveyed in an Arizona Deed. The document must be signed by all parties in front of a Notary Public and filed with the County Recorder’s Office.  How do I transfer my real estate to a…

Department of Financial Protection and Innovation If you need assistance with the complaint form, please call 1-866-275-2677.  How to file a complaint against a mortgage lender in California? Make a complaint on the Better Business Bureau: Although the BBB is a non-profit opposed to a regulatory authority, filing a complaint…

within 30 days(2) Time to Respond. The responding party must serve its answers and any objections within 30 days after being served with the interrogatoriesinterrogatoriesIn a civil action, an interrogatory is a list of questions one party sends to another as part of the discovery process. The recipient must answer…

When a company enters administration the control of the company is passed to the appointed administrator (who must be a licensed insolvency practitioner). The administrator’s primary goal is to leverage the company’s assets to repay creditors as quickly and as fully as possible without preference.  What happens to a company…

Consumer protection is a selection of laws that protect individual consumers against unfair selling practices for goods, services and digital content. What is the purpose of consumer protection? Consumer protection safeguards the well-being and interests of consumers through education, mobilization and representation. Consumer protection ensures that consumers make well-informed decisions…

Gerald (“Jerry”) Gault was a 15 year-old accused of making an obscene telephone call to a neighbor, Mrs. Cook, on June 8, 1964. After Mrs. Cook filed a complaint, Gault and a friend, Ronald Lewis, were arrested and taken to the Children’s Detention Home. What was the Gault decision? 8–1…

Summary judgment is a legal principle that allows a court to decide a case without a full trial if it determines that no reasonable jury could return a verdict for the plaintiff. It’s based on the idea that a court should only decide matters that are truly in dispute, and…

Solvency is the ability of a company to meet its long-term debts and financial obligations. What do you mean by solvency of a company? Solvency is the ability of a company to meet its long-term financial obligations.  What is solvency example? For example, a company with a solvency ratio of…

You have 10 years from the date the judgment was issued to collect your money. If you cannot collect within 10 years, you can renew the judgment for another ten years by filing the forms called EJ-190 Application For And Renewal of Judgment and EJ-195 Notice of Renewal of Judgment.…

Mailing a copy of the summons and complaint, two copies of a noticenoticeNotice is the legal concept describing a requirement that a party be aware of legal process affecting their rights, obligations or duties. There are several types of notice: public notice (or legal notice), actual notice, constructive notice. How…

The Home Affordable Foreclosure Alternatives (HAFA) Program The HAFA program allows borrowers to leave their properties through two possible means, a short sale or a deed in lieu of foreclosure. Short sales require you to sell your house for less than what you still owe on your mortgage. What does…

Once you know the county where probate was filed, you can do a search for the estate. You would go to the county government’s website and search by name of the deceased. You may also be able to search by the court docket or attorney. You can also use the…

If you file for Chapter 7 bankruptcy, you cannot get rid of second mortgages, home equity lines of credit (HELOCs), or home equity loans. Filers in the Eleventh Circuit Court of Appeals, are no longer able to strip off (remove) these types of liens in Chapter 7 bankruptcy. How can…

The two main reasons to avoid probate are the time and money it can take to complete. Remember that probate is a court process, and along with the various proceedings and hearings, simply gathering assets and paying off debts of an estate can take months or even years. How do…

Fiduciaries are responsible for protecting the property until all debts and taxes are paid and to promptly and efficiently administer the estate. In general, fiduciaries have three responsibilities: Collect, inventory, and appraise all the assets of the estate. What is the purpose of a fiduciary? A fiduciary is someone who…

Probate can be started immediately after death and takes a minimum of four months. If the estate includes property that takes a while to sell, or if there are complicated tax or other matters, probate can last much longer. A small estate proceeding cannot be filed until 30 days after…

An involuntary lien, on the other hand, is one filed by a creditor in pursuit of outstanding debt. Involuntary liens are typically placed on your assets by a court; they give a creditor legal claim to what they’re owed and can result in foreclosure if they go unpaid. What is…

What is a negotiating style? Negotiation styles, or behaviors, are patterns of communication used during a negotiation situation to achieve a desirable outcome. There are five primary negotiation styles: accommodating, avoiding, collaborating, competing, and compromising. What are the negotiating strategies? Six Successful Strategies for Negotiation The negotiating process is continual,…