Nearly 30 Years Of Representing Businesses And Their Owners

Bakersfield Banking And Finance Attorneys

For over 30 years, members of the firm have provided responsive services to the financial community. Services include:

Alternative dispute resolution
Banking and finance
Business, corporate and real estate transactions
Collection and creditor rights
Creditor rights in bankruptcy
Enforcement of judgments
Enforcement of loan agreements – secured, unsecured and consumer obligations
Enforcement of lease obligations
Loan and lease documentation (secured and unsecured)
Loan participation negotiation and documentation
Loan workouts and refinancing
Provisional remedies including claim and delivery, and installation of a receiver
Revolving credit transactions

Frequently Asked Questions About Banking And Finance

At Coleman & Horowitt, LLP, we understand that banking and finance matters can be complex. Our attorneys are committed to providing clarity on these issues. Below, we address some common questions our clients ask about banking and finance in California.

What is the difference between secured and unsecured loans?

Secured loans are backed by collateral, such as property or assets, which the lender can claim if the borrower defaults. This collateral reduces the lender’s risk, often resulting in lower interest rates for the borrower. Examples include mortgages and auto loans.

Unsecured loans, on the other hand, are not backed by collateral. These loans are based primarily on the borrower’s creditworthiness and promise to repay. Because they pose a higher risk for lenders, unsecured loans typically have higher interest rates. Common examples include credit cards and personal loans.

In California, the laws governing secured and unsecured loans can differ significantly, particularly in terms of the lender’s rights in case of default. Our lawyers can provide guidance on the implications of each type of loan for both lenders and borrowers.

What is the process for enforcing a loan agreement?

Enforcing a loan agreement in California typically involves several steps:

Reviewing the loan agreement to ensure all terms are clear and enforceable
Sending a formal notice of default to the borrower
Working with the borrower to find a mutually agreeable solution, which may include a revised payment schedule
If negotiation fails, filing a lawsuit to obtain a judgment against the borrower
Enforcing the judgment through various means such as wage garnishment, bank levies or property liens

The specific process can vary depending on whether the loan is secured or unsecured, and whether it’s a consumer or commercial loan. Our attorneys can guide you through each step, ensuring compliance with California’s laws and protecting your interests throughout the enforcement process.

How can I protect my creditor rights in bankruptcy?

Protecting creditor rights in bankruptcy requires prompt and strategic action. Here are the key steps:

File a proof of claim: This document asserts your right to payment from the bankruptcy estate.
Attend the 341 meeting of creditors: This provides an opportunity to question the debtor under oath.
Contest the discharge: If evidence suggests the debtor engaged in fraudulent activities or committed other bankruptcy-related offenses, you have the right to contest their discharge from debt.
Closely follow the bankruptcy proceedings: Update yourself on the important deadlines and any developments in your case.
Petition to remove the automatic stay: In some cases, you might be able to request court permission to continue your collection efforts, even during the bankruptcy process.

In California, creditor rights in bankruptcy can be influenced by unique state laws, including those related to homestead exemptions and community property. Our bankruptcy attorneys have in-depth knowledge of these state-specific regulations. We can guide you through this complicated legal landscape by developing strategies to protect your interests.

At Coleman & Horowitt, LLP, we’re committed to providing comprehensive legal support for all your banking and finance needs.

Let’s Review Your Banking And Finance Needs

Coleman & Horowitt, LLP, has been known for integrity, effectiveness and skillful representation for nearly three decades. Our banking and finance lawyers are ready to listen to your concerns, evaluate your case and direct you in the most efficient direction forward.

To schedule a consultation, call 559-248-4820, or send an inquiry, and we will get in touch to put you on our appointment calendar.