3975 University Dr # 410,
Fairfax, VA 22030


Creditor Rights Collections Lawyers, Fairfax, Northern Virginia

We provide legal services like : International collection, Fraudulent transfer, breach of contract.
Gross, Romanick, Dean & DeSimone, P.C. > Creditor Rights Collections Lawyers, Fairfax, Northern Virginia

A. Charles Dean to Moderate CLE

A. Charles Dean, partner of Gross, Romanick, Dean & DeSimone, P.C., will moderate a faculty panel for a CLE Course presented by the DC Bar Association. The course is titled Collection of Debts and Money Judgments in DC, MD and VA. If you wish to attend the seminar on November 8 from 6:00 to 9:15PM in person, please visit the registration website or contact the DC Bar Association at 202-626-3488. You can also attend via webinar. Price: $89 to $129 Faculty: Erik Goodman, Legal Counsel for the Elderly Charles Gormly, Rosenthal Gormly, Chtd. A....

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Prebankruptcy Provisions Should you include them in your contracts?

Creditors and lending institutions have recently been including various provisions in their contracts and credit agreements, which contemplate what will happen in the event of a bankruptcy. The provisions can be divided into three basic categories: (1) Waivers; (2) Covenants; and, (3) Representations/Admissions. Waivers limit a borrower’s right to either file a bankruptcy petition or to oppose the creditor’s lifting of the automatic stay. Covenants provide for immediate relief from the automatic stay or consent not to contest a lift stay motion. Representations/Admissions include provisions in the agreement which admit the elements necessary for the creditor to lift the automatic stay, admit that any future...

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Financing a Company in Chapter 11

Who would lend money, lease property or extend credit for supplies to a company in bankruptcy? Why would anyone want to do that?! Who would want to provide financing to a company that has already mismanaged itself into bankruptcy? Answer: you may want to. Inevitably a Chapter 11 debtor will require additional cash flow or extensions of credit. Because companies in bankruptcy need money, leases and supplies, if a creditor is willing to provide funds, offer a lease or extend credit, that creditor stands to obtain very favorable terms. Because few creditors are willing to enter into high risk investments, Congress...

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Chapter 11 Bankruptcy & Creditors

A long time purchaser of your inventory has just filed bankruptcy under Chapter 11 of the Bankruptcy Code while still owing you a large sum of money. A creditor’s initial reaction is often despair. They believe that it is the end of the world and that they will be lucky to recover a few cents on the dollar. Do not despair! There is some hope for recovery of your money. Plan of Reorganization In a Chapter 11 bankruptcy, the debtor’s goal is to reorganize and reemerge as a functioning entity. This goal is accomplished by developing a business plan, which must be...

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The Collection Plan: Taking Control of Your Accounts Receivable

Publications & Seminars Related Articles: Business Law/Commercial Landlord The Collection Plan: Taking Control of Your Accounts Receivable You’ve completed your service for the client and sent out the bill. But the money is not yet in your hands. You could just sit and wait (and hope), but we suggest a better alternative: a collection plan. A comprehensive plan will make collections more successful by informing clients of their obligations and identifying bad debts early enough to take appropriate action. Formulating an effective collection plan is the first and most important step in getting control of your accounts. By setting up a comprehensive scheme for...

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Introduction to Judgment Collection Methods

You won your court case and the judge signed an Order stating that the defendant owes you quite a bit of money. The appeals court has dismissed the defendant’s appeal and the whole ordeal with the defendant should be shrinking into little more than a bad memory. Break out that expensive champagne and celebrate victory, because the defendant, now known as the “judgment debtor”, is picking up the tab for the festivities. NOT SO FAST!!! Since the abolition of debtor’s prison in 1833, most court orders commanding the payment of money, also known as “money judgments”, are not enforced through the coercive...

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The Role of Federal Courts in the Judgment Collection Process

Judgment Collection is a creature of state law. Rule 69(a) of the Federal Rules of Civil Procedure very clearly articulates the procedures that will apply if a judgment is collected in federal court: “The procedure on execution — and in proceedings supplementary to and in aid of judgment or execution — must accord with the procedure of the state where the court is located …” It is important to note that the language of Rule 69(a) goes beyond the traditional outlines of the Erie doctrine. Rule 69(a) does more than graft state substantive law onto federal procedure; Rule 69(a) authorizes the...

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The Territorial Scope of Garnishment upon Multinational and International Banks

The process of garnishment is intended to reach the intangible property of the judgment debtor. Accordingly, garnishment is used to attach a judgment debtor’s bank account in order to satisfy the underlying judgment. Often, however, the judgment debtor’s bank accounts were opened or are maintained at a branch of a bank located outside the jurisdiction where the underlying judgment was rendered. For example, a judgment debtor maintains bank accounts at a bank with branches in Virginia and Maryland but originally opened its accounts at a Maryland branch of the bank. If the judgment creditor obtained a judgment in a Virginia...

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What is a Garnishment?

  In the process of collecting a judgment, it is common to utilize garnishments. Commonly used phrases, such as “garnishing wages” or “garnishing bank accounts”, do not accurately describe the legal procedure. More accurately, a garnishment is defined as a suit by the judgment debtor in the name of the judgment creditor against a third party (garnishee) for the purpose of recovering intangible assets owned by the judgment debtor. Butler v. Butler, 219 Va. 164 (1978). This is obviously a very dense definition that needs to be parsed. First, a garnishment is a suit by the judgment debtor against the garnishee. Although a...

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Garnishment of Reverse Mortgages

When garnishing the assets of a judgment debtor, it is not unusual for several parties to come forward and claim an interest in the assets that are the subject of the garnishment. When a bank account is the target of the garnishment, the bank itself will often claim a superior interest in the monies held by that bank. The law usually supports the conclusion reached by many Courts that the bank stands superior to the judgment creditor who initiated the garnishment action. However, just last week in a garnishment proceeding directed at a bank, the Appellate Division of the New Jersey Superior...

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