Creditors have to worry about not only pursuing their rights against a borrower or debtor, but also against other creditors. State (and some federal) laws regarding creditors’ rights help determine which creditor has priority, but sometimes this involves a race to the courthouse. Through judicial and out-of-court remedies, creditors can run into problems, such as obtaining a prompt outcome when court action is required, figuring out leverage points and when and how to use such leverage, and avoiding making a bad situation worse (e.g., with bankruptcy preference claims).
Taft attorneys who practice in the area of creditors’ rights have extensive experience representing creditor interests in all types of matters. We provide services for our clients that include UCC Article 9 and Article 2 remedies, foreclosure and receiverships and streamlined collection litigation. We have assisted:
- Regional banks
- Nontraditional lenders.
- Private buyers of bank paper.
- Construction companies and mechanic’s lien holders.
- Other statutory or possessory lien holders.