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Creditors’ Rights in Collecting

The collection of debts has become regulated by a seemingly ever-changing set of rules set by federal and state governments under laws such as the Missouri Merchandising Practices Act, the Illinois Consumer Fraud and Deceptive Practices Act, Federal Fair Debt Collection Practices Act, RESPA, and HAMP, and the alphabet soup of confusing regulations goes on and on.

The Wasinger Daming team of attorneys includes lawyers who specialize in creditors’ rights who can provide assistance with a variety of different issues, including:

  • Foreclosures and suits on promissory notes, in addition to suits on deficiencies;
  • Navigating the choppy waters of notice-and-right-to-cure statutes and regulations;
  • Receiverships and/or attachments to prevent diminishment of commercial property collateral;
  • Compliance with the strict requirements for arranging sheriffs’ sales on execution, mechanic’s liens and other liens on real property, garnishments of accounts and debts, and garnishments of wages;
  • Negotiating workout agreements to protect creditors while maximizing collection of going concern value rather than fire-sale value when appropriate;
  • Defending against claims by bankruptcy trustees seeking awards for preferential transfers and fraudulent conveyances.

Creditors’ rights are very complex and the laws are always
changing,often in favor of the debtor. At Wasinger Daming, our experienced attorneys will work to represent your best interests as a creditor, providing guidance and assistance as you work to collect the debts that are owed to you.

Contact Wasinger Daming’s seasoned creditors’ rights attorneys today by calling 314-961-0400.