Bad debts entry

Adam Krohn sues debt collectors for unfair practices, but he found himself in a role reversal last year when calling a fellow California lawyer who owed him money on a judgment.“He told me, ‘Come get it. I want you to know what it’s like to try to collect a debt,’ ” recalls Krohn. So he had a writ of execution served on Scott Carruthers, who Krohn says picked up another $90 in costs for the pleasure of teasing his adversary before paying up on a consumer’s Fair Debt Collection Practices Act claim.Carruthers did not respond to interview requests.Their tangle, ongoing with new cases in which Krohn says Carruthers is avoiding service altogether, offers a humorous glimpse into a decidedly unfunny area of the law: debt collection.With the nation so awash in debt—the Federal Reserve pegs “consumer credit outstanding” at more than $2.4 trillion—getting payment from those who owe money has become a huge business. And a big mess, with … [Read more...] about Payback: Lawyers on Both Sides of Collection are Feeling Debt’s Sting

One of the most overlooked issues in handling a workers’ compensation case is the potential for any credits due to the employer for amounts paid. This is a costly issue to overlook. Whether through its group health or workers’ compensation insurance coverage, the employer often pays medical and indemnity costs associated with a claimed work injury. The employer should take proper measures to ensure those payments are rightfully attributable to the employer at the time of trial. What are “credits”?Generally speaking, the term “credit” has several definitions. Merriam-Webster’s dictionary defines credit as “the balance in a person’s favor in an account.” An employer may have a credit in its favor for amounts paid toward medical bills pursuant to a group health policy. This often occurs when a claim, or portion of a claim, is disputed, meaning the employer has challenged the reasonableness, relatedness, or necessity of some or … [Read more...] about Worker’s Compensation: A Primer on Credits

Days after the lid blew off the Rs 11,400-crore billionaire Nirav Modi-PNB scam, another Petition has been filed before the Supreme Court demanding that the Finance Ministry and the Reserve Bank of India (RBI) be directed to frame guidelines for grant of loans more than INR 10 crores.Besides seeking registration of cases against all those involved in the fraud and “immediate deportation” of Mr. Nirav Modi, the Petition, filed by Supreme Court Advocate Vineet Dhanda  also demands that a committee of experts be created to document details of bad debts in the country.The Petition calls it the “biggest scam in the history of banking system in India“, pointing out that it began in 2011 and continued for a period of 6 years in full view of the authorities. Mr. Dhanda therefore raises several questions on the efficiency of the Core Banking System (CBS), contending, “ By its very name, CBS ought to cover every single banking transactions. Has anybody … [Read more...] about PNB Fraud: 2nd Petition In SC Demands Nirav Modi’s “Deportation”; Guidelines For Grant Of Loans Above 10 Crores

Supreme Court of India has agreed to hear a petition filed by Advocate Vineet Danda seeking immediate deportation of Nirav Modi on Friday.Days after the lid blew off the Rs 11,400-crore billionaire Nirav Modi-PNB scam, another Petition has been filed before the Supreme Court demanding that the Finance Ministry and the Reserve Bank of India (RBI) be directed to frame guidelines for grant of loans more than INR 10 crores.Besides seeking registration of cases against all those involved in the fraud and “immediate deportation” of Mr. Nirav Modi, the Petition, filed by Supreme Court Advocate Vineet Dhanda  also demands that a committee of experts be created to document details of bad debts in the country.The Petition calls it the “biggest scam in the history of banking system in India“, pointing out that it began in 2011 and continued for a period of 6 years in full view of the authorities. Mr. Dhanda therefore raises several questions on the efficiency of … [Read more...] about PNB Fraud: SC Agrees To Hear PIL Demanding Nirav Modi’s “Deportation” On Friday

Supreme Court of India has agreed to hear a petition filed by Advocate Vineet Danda seeking immediate deportation of Nirav Modi on Friday. This is the second petition filed before the Supreme Court relating to the Rs 11,400-crore Nirav Modi-PNB scam. The Petition also demands that the Finance Ministry and the Reserve Bank of India (RBI) be directed to frame guidelines for grant of loans more than INR 10 crores. The first petition was filed by Advocate Manohar Lal Sharma seeking a Court-monitored SIT probe into the banking fraud. Besides seeking registration of cases against all those involved in the fraud and “immediate deportation” of Mr. Nirav Modi, the Petition, filed by Supreme Court Advocate Vineet Dhanda  also demands that a committee of experts be created to document details of bad debts in the country. The Petition calls it the “biggest scam in the history of banking system in India“, pointing out that it began in 2011 and continued for a period of … [Read more...] about PNB Fraud: SC Agrees To Hear PIL Demanding Nirav Modi’s “Deportation” On Friday [Read Petition]