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June 2019 Archives

Fraud and identifying a debtor's assets

When it comes to asset recovery, there are many challenges that creditors may face and every situation is different. Sometimes, debtors conceal their assets, which can be very problematic with regard to asset recovery. There are a number of ways in which borrowers may attempt to conceal their assets, from concealing property to hidden financial accounts, and it is imperative for these tactics to be identified by creditors who are attempting to recover debts. Unfortunately, many people have been able to get away with this behavior, which can result in financial difficulties for those who have lent to someone with the belief that the borrower will act in good faith.

Emotional challenges and creditors' rights violations

When creditors' rights violations occur, the consequences can be incredibly damaging for those who are affected. Not only can financial consequences arise for creditors who do not receive the debts that they are owed, but the impact of these violations may prompt a creditor to close their doors. Moreover, the emotional challenges associated with various stressors related to this area can be incredibly tough. Depression, stress and even anger can make daily life very challenging for some of those who have been subjected to creditors' rights violations.

Defining fraud

Like most in West Palm Beach, you likely consider yourself intelligent enough to spot fraudulent schemes before you can become a victim of them. Many of those with whom we here at CreditorCollections A Law Firm have worked with once felt the same way, yet were unfortunate enough to learn that today's schemers and confidence artists are becoming evermore savvy. If you do happen to fall victim to fraud, then you certainly will want to do all that is needed to recover whatever assets and/or properties that you may have been deprived of. Yet doing so requires that the action taken against you be correctly identified as fraud. 

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