Solo practitioners and small firm lawyers are all too familiar with fielding a gamut of legal questions. Regardless of the nature of one’s practice, most have encountered a few (or a few hundred) inquiries related to debtor-creditor law. Questions of this nature are pervasive because nearly every consumer and business in America either owes money or is owed money. For better or for worse, the relationships between creditors and debtors have long been an indispensable part of our modern market economy largely driven by consumers diving deeper into the red. As a result, consumer debt makes up a significant portion of the outstanding debtor-creditor situations a practitioner is likely to encounter.
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