Red and Black: The Debtor/Creditor Relationship
Editorial Reviews
Book Description
Beginning with a walk-through of a typical business transaction, this book shows readers how “business really works” and how debts arise and how liens are created. Bridging the gap between basic business law and the complex concepts in the Bankruptcy Code, it readers paralegals inside the arenas where clients conduct business, and helps them appreciate the laws and processes that govern collection of debts, repossession of personal property, prejudgment remedies, and enforcement and collection of judgments. A Typical Business Transaction. Laws that Limit Collection Activity. Prejudgment Remedies. Postjudgment Collection. Secured Transactions Under the Uniform Commercial Code. Bankruptcy Basics. For paralegals.
From the Inside Flap
An Overview of the Debtor/Creditor Relationship
Many view the areas of bankruptcy and the debtor-creditor relationship as specialized practices. Actually, these are areas of law that touch a variety of people on an individual basis. As Polonius advised Laertes, "Neither a borrower nor a lender be." (Hamlet, Act I, Scene iii) This is difficult advice to follow in the modern age. Upon reaching college age, the average person cannot avoid becoming a debtor. We all hope, someday, to become creditors. The debtor-creditor relationship will be an important one for every person who becomes an active participant in the free market economy.
There are numerous contexts in which knowledge of the debtor-creditor relationship ranges from useful to absolutely necessary. Most of an attorney's clients are participating in the mainstream of business and commerce. Many paralegals will seek employment in this mainstream. Knowledge of the various bodies of law that govern the debtor-creditor relationship creates a level of understanding of the ground rules under which clients operate, regardless of the type of legal problem presented. In addition, many jobs involving credit management, collection of accounts receivable, and bankruptcy coordination and management are available in corporations.
In the legal context, a basic understanding of debtor-creditor issues is essential in order to effectively assist clients. These clients may be consumers who, due to some catastrophic illness or disaster, are unable to pay their bills, or large corporations seeking counsel regarding customers who have not paid for goods or services. Even if you never counsel a client regarding payment or collection of money, the knowledge contained in this text will be useful in every area of legal practice. How can this be so? If you handle only plaintiff's personal injury cases, and you obtain a judgment for your client, it has absolutely no tangible value unless it can be converted to cash. In this book, you will learn which assets are protected from collection efforts of creditors, and the procedures you can use to get assets out of the hands of debtors, both before and after final judgment.
Often paralegals find lucrative jobs as law office managers or administrators. You may find that, as the only paralegal in a small office, day-to-day management chores may fall into your lap. Remember (and lawyers often do not) that the practice of law is also a business. Someone has to assure that accounts are paid and that any disputes that may exist regarding those accounts are resolved. This book will give you some of the tools needed to collect accounts in a I manner that is sensitive to clients and customers, and also in compliance with state and federal laws that govern debt collection.
An additional incentive for study of the debtor-creditor relationship exists on a very personal level. As individual participants in a free-market economy, we are all at some point debtors, creditors, or both. It is important to know your rights as they relate to the extension of credit and the collection of payments, as well as potential remedies should it be necessary to proceed from an individual basis to collect a debt. There are numerous consumer protection statutes that apply to each of us as we utilize credit to purchase goods and services for our personal, family and household purposes.
Finally, although this is not intended to be a comprehensive text on bankruptcy law, you will find some basic information regarding the ability of debtors to obtain a "fresh start" through the different chapters of the Bankruptcy Code. The main purpose of this book is to give a basic understanding of the laws that apply to debtors and creditors, as a foundation to unraveling the intricacies of the bankruptcy process. Many texts concentrate solely on the bankruptcy process. Unfortunately, students often do not have the basic knowledge of the legal relationships that existed long before the bankruptcy proceeding was filed. It is much like skipping to calculus when you have not mastered basic mathematics. I hope this book lays a foundation that lessens the anxiety that may be encountered upon delving into a more substantive study of bankruptcy law and procedure.
Barbara Kirby
Red and Black: The Debtor/Creditor Relationship
Red and Black: The Debtor/Creditor Relationship,Barbara E. Kirby,Prentice Hall,0929563417,General,Law,Legal Reference / Law Profession,Law / General
English Books:
Recommended Books