In the article, the author notes " With 38, Georgia has had more bank failures than any other state since August 2008. The most recent, and eight this year, was the May 14 failure of Satilla Community Bank in southeast Georgia."
Georgia isn't the most populous state, the one with the most foreclosures, or the one with the highest unemployment rate. Therefore, something must be wrong at the regulatory end that is unique to Georgia.
It is worth noting that these problems were not present during the last banking crisis in the 1980s. In fact, The Georgia Department of Banking & Finance was praised at that time for keeping it's state banks under control and out of the quagmire that existed back than. Silverado Bank, The Keating Five, and Neil Bush come to mind when I think of those failures, corruption, and bad land deals. Indeed, when I arrived at the Department in 1988, the Agency was extremely proud that Georgia state banks hadn't gotten into trouble. In fact, Georgia was one of the few states that used the examination of the state examiners to determine the safety and soundness of the financial institutions. In other words, 20 years ago, at least, the FDIC had confidence in the Agency head, the examiners, and their procedures.
Notwithstanding the horrible economy, is it possible the new administration, different political party, and anti-regulatory philosophy has created this horrible situation in Georgia?
Read more: Four more Ga. banks get consent orders - Atlanta Business Chronicle
Four more Ga. banks get consent orders - Atlanta Business Chronicle
Friday, May 28, 2010
Wednesday, May 19, 2010
Lawyer Billing Issue - Avvo.com
Lawyer Billing Issue - Avvo.com
The client could have avoided these large unexpected bills with a flat fee contract. This type of arrangement places a cap on the attorney's fee and minor expenses (mileage, parking, copying). Oftentimes, the client is responsible for prepaying large expenses (expert fees, depositions, appraisals, and other third party professionals). If the client has limited resources and cannot afford the sixth deposition or a second medical expert, she can veto the lawyer's decision and cap the expenses before the monthly bill arrives in the mailbox.
The client could have avoided these large unexpected bills with a flat fee contract. This type of arrangement places a cap on the attorney's fee and minor expenses (mileage, parking, copying). Oftentimes, the client is responsible for prepaying large expenses (expert fees, depositions, appraisals, and other third party professionals). If the client has limited resources and cannot afford the sixth deposition or a second medical expert, she can veto the lawyer's decision and cap the expenses before the monthly bill arrives in the mailbox.
Sunday, April 18, 2010
my lawyer duped me. - Avvo.com
Be careful when hiring an attorney. You should feel comfortable asking the lawyer question. Moreover, your attorney can never force you to sign anything. If you don't feel comfortable signing a document, ask questions about it.
my lawyer duped me. - Avvo.com
my lawyer duped me. - Avvo.com
Thursday, April 1, 2010
Exercise Caution Before Buying a Business
Before anyone buys a business, accountants and lawyers should be consulted. An experienced accountant can review the businesses books and tax returns. These documents will provide essential information on the true value of the business and potential federal and state tax liability.
Even with a good accountant, a prospective owner still needs a lawyer to draft the sales and indemnification agreement. Recently, a new business owner complained about being sued for actions taken by the seller. Of course, he didn't have a sales agreement. He thought he would save money by drafting his own bill of sale.
The inherited liability he incurred may damage the business and turn his ownership dream into a financial nightmare. An experienced attorney would have drafted a sales agreement with covenants and representation provisions regarding known tax liabilities, lawsuits, and other contingent liabilities. In addition, indemnification clauses would have required the former owner to reimburse the buyer for any judgments, expenses, and attorney's fees incurred as a result of enumerated pre-sale liabilities.
In short, even for prospective small business owners, paying an accountant and a lawyer a few thousand dollars before the sale closes may save tens of thousands of dollars in the future.
Even with a good accountant, a prospective owner still needs a lawyer to draft the sales and indemnification agreement. Recently, a new business owner complained about being sued for actions taken by the seller. Of course, he didn't have a sales agreement. He thought he would save money by drafting his own bill of sale.
The inherited liability he incurred may damage the business and turn his ownership dream into a financial nightmare. An experienced attorney would have drafted a sales agreement with covenants and representation provisions regarding known tax liabilities, lawsuits, and other contingent liabilities. In addition, indemnification clauses would have required the former owner to reimburse the buyer for any judgments, expenses, and attorney's fees incurred as a result of enumerated pre-sale liabilities.
In short, even for prospective small business owners, paying an accountant and a lawyer a few thousand dollars before the sale closes may save tens of thousands of dollars in the future.
Tuesday, March 23, 2010
Collecting A Debt From An Ex Spouse
When a judge enters a divorce decree and orders an ex wife to pay credit card debts, a mortgage, or a car note in the husband's name, he has two options to obtain compliance with the order and collect delinquent payments.
(1) The former husband can file a motion for contempt in the originating family court. If the wife is held in contempt, the judge can order her to pay the debt by a date certain. Thereafter, if the wife ignores the order, she may be subject sanctions.
(2) The former husband can also sue the wayward spouse in civil court. This option may result in a judgment. However, it's not worth the paper it's written on if steps aren't taken to collect via garnishments and liens. This process may take several years.
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I have been divorced now for over a year and in the divorce decree my ex wife said she would assume payments on one of the joi - Divorce / Separation - Avvo.com
(1) The former husband can file a motion for contempt in the originating family court. If the wife is held in contempt, the judge can order her to pay the debt by a date certain. Thereafter, if the wife ignores the order, she may be subject sanctions.
(2) The former husband can also sue the wayward spouse in civil court. This option may result in a judgment. However, it's not worth the paper it's written on if steps aren't taken to collect via garnishments and liens. This process may take several years.
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I have been divorced now for over a year and in the divorce decree my ex wife said she would assume payments on one of the joi - Divorce / Separation - Avvo.com
Monday, March 8, 2010
can an ex wife collect life insurance proceeeds from deceased ex husband if she is not named beneficiary - Probate - Avvo.com
The question below highlights two legal concepts:
(1) When you need legal advice, seek advice from lawyers who are licensed in your state; and
(2) When a court orders an ex-spouse or other party to maintain life or health insurance, obtain the policy information, and verify, verify, verify. If the party lets the policy lapse, file a motion for contempt. Relying on the honesty of the person, may leave you without coverage.
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can an ex wife collect life insurance proceeeds from deceased ex husband if she is not named beneficiary - Probate - Avvo.com
(1) When you need legal advice, seek advice from lawyers who are licensed in your state; and
(2) When a court orders an ex-spouse or other party to maintain life or health insurance, obtain the policy information, and verify, verify, verify. If the party lets the policy lapse, file a motion for contempt. Relying on the honesty of the person, may leave you without coverage.
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can an ex wife collect life insurance proceeeds from deceased ex husband if she is not named beneficiary - Probate - Avvo.com
Sunday, February 21, 2010
Judgment Notice & Sewer Service --- What Next? (Avvo Question)
AVVO QUESTION
I have gotten several letters saying a judgement has been filed for credit card debt. can they seize my checking account
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MY ANSWER
The credit card company cannot place a lien on your property without a judgment. If the company has a judgment, you should have received proper notice of a lawsuit.
Unfortunately, many immoral debt collectors engage in sewer service. In other words, they throw the complant and summons in the garbage and file a service affidavit. This gives the debt collector the ability to file for and obtain a default judgment.
Therefore, if you believe that you were not served as is required by law, you need to file the appropriate paperwork in a timely fashion. If you simply ignored the summons and complaint and the judgment is appropriate, the attorney can file for a lien immediately. Therefore, if you take advantage of direct deposit, you should stop it immediately. If you allow automatic debits for certain of your bills, stop it and start paying with money orders. 0 0 Questions in your practice areaQuestions in your practice areaAnswer another question
Practice Area Unanswered Questions
Appeals
I have gotten several letters saying a judgement has been filed for credit card debt. can they seize my checking account
---------------------------------------------------------
MY ANSWER
The credit card company cannot place a lien on your property without a judgment. If the company has a judgment, you should have received proper notice of a lawsuit.
Unfortunately, many immoral debt collectors engage in sewer service. In other words, they throw the complant and summons in the garbage and file a service affidavit. This gives the debt collector the ability to file for and obtain a default judgment.
Therefore, if you believe that you were not served as is required by law, you need to file the appropriate paperwork in a timely fashion. If you simply ignored the summons and complaint and the judgment is appropriate, the attorney can file for a lien immediately. Therefore, if you take advantage of direct deposit, you should stop it immediately. If you allow automatic debits for certain of your bills, stop it and start paying with money orders. 0 0 Questions in your practice areaQuestions in your practice areaAnswer another question
Practice Area Unanswered Questions
Appeals
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