By Dominique R. Scalia
Many of my clients are creditors. Some did not set out to become creditors, but many did. They are banks, private lenders and debt buyers, and as you might expect, sometimes they do not get paid.
When nonpayment leads these creditors to me, it is typically because they have grown weary of waiting for payment and are looking to enforce their rights by, for example, foreclosing a security interest or obtaining a judgment. I read the contracts between creditor and debtor, and too often I come up with difficult questions for my clients about the actions they took — or, more importantly, the actions they...