Founded in 1977, Codilis and Associates is an Illinois-based law firm that provides real estate legal services. In addition, Codilis & Associates focuses on creditor’s rights.
The party that loans money to a borrower is known as the creditor. This could be a person, a bank, or another financial organization. Setting conditions and requirements for repayment is the creditor's responsibility, who is also in charge of obtaining any assets used as collateral if payments are not forthcoming from the debtor, the person or entity that has borrowed the money. Creditor’s rights cover a wide range of creditor-debtor interactions, such as the right to seize a borrower's property, annul a fraudulent transfer of property, and the right to reach out to the debtor. Ultimately, creditor’s rights often relate to the measures creditors can take to recover the money they are owed and their standing in relation to the borrower and the borrower’s other creditors. The methods that creditors employ to seek repayment of debts are limited by federal and state legislation, such as the Fair Debt Collection Practices Act (FDCPA).
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Codilis & Associates has served its clients in the area of real estate law, focusing on evictions, real estate owned properties, bankruptcies, and building court. Archives
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