Skilled Attorneys Handling Tough Debtor-Creditor Litigation Matters in Myrtle Beach, South Carolina
Providing dependable legal advice to clients across Horry and Georgetown counties
Disputes may occur when creditors and debtors do business, either during the initial stages of the relationship or in the months or years after a loan gets disbursed. At DesChamps Law Firm, our Myrtle Beach lawyers have managed a wide range of debtor-creditor disputes, including those that involve complex litigation. When you need dependable legal guidance related to these matters, you can trust in the experience and knowledge our attorneys deliver.
Common litigation issues between debtors and creditors
It’s somewhat common for debtors and creditors to have disagreements. Certain disagreements, however, are more likely to lead to litigation than others, including those related to businesses and corporate organizations. Some of the most common litigation matters between debtors and creditors include the following:
- Mortgage foreclosure actions. Foreclosure litigation processes typically involve homeowners suing lenders on grounds of wrongful foreclosure or unlawful lending practices. Court actions are the likely result of situations in which a homeowner and a lender do not agree on how to cure a default in mortgage.
- Mortgage loan modifications. Homeowners experiencing major financial hardships that may lead to foreclosure have the option to work with a lender to obtain a loan modification. This modification will change the terms of the mortgage loan so for the borrower to afford the payments. Often, attorney assistance is needed to negotiate the process of loan modification.
- Lawsuits on promissory notes. Lenders typically issue promissory notes — signed documents containing a promise to pay a lender by a specified date — when distributing loans. If a borrower defaults on a promissory note, the lender may choose to file a lawsuit in court. This is initiated by filing a complaint, which specifies the breach of contract and asks that damages be awarded. These damages might include the unpaid balance due, interest, attorney fees and court costs.
- Lien priority disputes. Mortgage liens are form of conditional ownership of a lender’s property, which is claimed by the home loan provider. These liens sometimes have different priorities on residential real estate. Title defects often cause disagreements over lien priorities, preventing homeowners from buying or selling property. Lien priority disputes can be handled through quiet title actions, negotiations or litigation.
- Insurance disputes. Litigation is often required to handle a bad-faith dispute, which is a tort claim filed by an insured party against an insurance company. Insurance companies are required to act in good faith and fair dealing; a violation of this duty leaves the company exposed to lawsuits.
Contact an experienced debtor-creditor litigation attorney in Myrtle Beach
At DesChamps Law Firm, our attorneys have decades of experience assisting creditors with difficult litigation matters. We are proud to serve clients across the region. Call us today at 843-213-6430 or contact us online.