|
Welcome to Coloradocreditorblog.com. Douglas D. Koktavy, P.C., is a Denver, Colorado, commercial law firm emphasizing creditors' rights. The firm represents a variety of businesses and financial institutions, including banks and automobile finance companies. The firm is a full-service creditor's practice. We provide loan and origination documents, modifications and workouts, collateral recovery and collection, and bankruptcy representation, just to name a few topics. We provide statewide coverage for qualified cases and will aggressively enforce your rights. We view you, our clients, as partners and treat your problems as our own. We consider client relationships as symbiotic. We tailor our representation to fit your needs whenever possible. Clients enjoy our budget awareness, speed, and optimal attorney accessibility. Our clients tell us they utilize our services because we make it so easy to do business. The firm looks forward to posting information on our Blog as it relates to creditors' rights.
NEW RULE ON REAFFIRMATION AGREEMENTS Effective May 1, 2008, a new Cover Sheet shall be required to when filing a Reaffirmation Agreement. This new rule is called General Procedure Order 2008-2. Click the link below for a full text of GPO 2008-2, including the new form: http://www.cob.uscourts.gov/orders/gpo2008-2andform.pdf Thanks for visiting http://www.coloradocreditorblog.com/ Doug Koktavy
NEW RULE ON ROUTINE COMMUNICATIONS WITH DEBTOR BANKRUPTCY UPDATE: Borrowers and lenders sometimes find themselves being held hostage to the bankruptcy code. Consider the following example: Borrower is current on a car loan and files bankruptcy for other reasons. Borrower wants to keep the car and work something out with the bank. However, the bank is advised by counsel not to send monthly statements anymore as such communication violates the automatic stay. The account then falls into default, a relief from stay motion is filed, and the car is picked up. Neither party wanted this result. The Colorado Bankruptcy Court passed a new rule effective March 13, 2008. It is called General Procedure Order 2008-1. GPO 2008-1 now allows lenders (and servicers) to communicate post petition with debtors concerning secured consumer debt. Here's how it works: 1. Creditors may make inquiry concerning insurance coverage, 2. Creditors may respond to inquiries from debtors about the account, 3. Creditors may send monthly statements or payment coupons. However, the communication must indicate it is provided for information purposes and does not constitute a demand for payment. Permissible communications include email, facsimile, USPS, commercial communications carrier or other mutually acceptable means. Click the link below for a full text of GPO 2008-1: http://www.cob.uscourts.gov/orders/gpo2008-1.pdf The free flow of information concerning routine consumer secured debt is advantageous to both lenders and borrowers. You should proactively develop a written policy concerning post petition contacts with debtors in order to take advantage of GPO 2008-1 while protecting the institution from unauthorized communications. Please contact my office if I can help. Thanks for visiting http://www.coloradocreditorblog.com/ Doug Koktavy  Douglas D. Koktavy, P.C. |
Recent UpdatesMay 01, 2008 April 14, 2008 Web ResourcesFindLaw |
Contact Us
3515 S Tamarac DriveSuite 200
Denver, CO 80237
(303) 337-2364 phone
(303) 873-7060 fax
Search
