King Law Firm Blog
What is Cross-Collateralization in Bankruptcy
Individuals who apply for a loan and sign off on an application are responsible for all of the information which is contained in the agreement. However, many individuals do not read the small print when they sign loan agreements and other contracts, and they are not aware that these agreements oftentimes contain a cross-collateralization clause which is part of the agreement. Moreover, these cross-collateralization clauses can create serious complications for…
Debt Law North Carolina
If you are not willing or unable to pay off a debt voluntarily, the State of North Carolina has various legal means for a creditor to collect your debt. However, a creditor cannot immediately try and force you to pay the money which you owe. First, the creditor must go to the court and obtain a judgment against you. Once the court enters a judgment, the creditor can then begin…