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Do not underestimate the importance of a written document for personal loans. If someone wants to borrow money from you, get a written agreement.  I am a collection attorney and I frequently get calls from people who lend money to friends, relatives, boyfriends, girlfriends, etc.  They do not have a written agreement and the other party refuses to pay them back.  Many times, the sum of money is quite large.   Without a written agreement, the other party will frequently allege that you provided them with a gift, not a loan and it is your word against theirs.  What should you do? If you are... Read More

Debt collection can be frustrating. Many times people promise they will send you the money they owe to you and nothing happens.  You may need to file legal documents so that you can take your debtor to court. If that is the case, it is important to understand process serving basics for creditors. In the United States, you must notify all parties if you are taking legal action against them.  Specifically, you must deliver a set of documents describing the legal action to the parties that you are suing.  These legal documents include writs, summons, complaints, subpoenas, etc. The delivery of these... Read More

Are you planning to loan money to either a person or a company? Is there a voice in the back of your head telling you that you should draft a written agreement? We strongly encourage you to listen to that voice. We will give you some pointers for drafting promissory notes. Let’s begin by defining what a promissory note is. A promissory note is a legally binding written document. With a promissory note, one party promises to pay another party either a sum of money or installment payments in the future. Typical Things to Include in a Promissory Note: The... Read More

Are you a creditor and you just found out that your debtor declared bankruptcy?  You probably find it confusing and you are not sure what you need to do next.  We can help.  The first thing you need to do is to stop all collection actions immediately.  By filing for bankruptcy, the debtor has several benefits. The most important is an “automatic stay”.  An automatic stay stops all or most collection actions.  Additionally, it will generally remain in effect until the bankruptcy court closes the case, dismisses the case, or grants the debtor a discharge.   A creditor who violates the automatic stay could face fines, costs,... Read More

Do you have a judgment in your state against a debtor and the debtor refuses to pay?  Even worse, does your debtor now reside, work, or have assets in Maryland or Washington, DC?   If so, we have some tips for enrolling a foreign judgment in Maryland or Washington, DC. If you want to attach your debtor’s assets in Maryland, you will need to obtain an exemplified copy of your judgment under seal. In addition, you will need to register your judgment in Maryland.  Likewise, if you want to attach any assets in Washington, DC, you will need to register the judgment there.  ... Read More