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Taking calculated steps to protect your money is crucial when offering a business a loan. In addition to asking for collateral, you need to consider other options to protect you if the business defaults on the loan. And one of these options is a personal guarantee....
When people fail to pay the debts they owe your business, it can cause significant financial problems. Outstanding debts can lead to serious cash flow issues, leaving your business without enough money to operate effectively. This situation can arise even when your...
When you’re a business owner, you’re going to encounter customers who fail to meet their obligations. Recovering property that’s being improperly held can be a big concern. Two common remedies for reclaiming property are repossession and replevin. While these terms...
A limited liability company (LLC) is separate from the person who files the formation documents, as well as the members running the LLC. Frequently, people who might otherwise start sole proprietorships establish LLCs as a way of protecting themselves financially...
When someone owes your business money and fails to pay, it can lead to severe financial hardships. Recovering the debt is essential, and wage garnishment can be a powerful tool in meeting this goal. In Florida, business owners can pursue wage garnishment to collect...
Most people who require the goods or services provided by a business pay for what they receive. However, some people attempt to defraud companies. They make payment arrangements, only to fall behind on their agreed-upon payments. They ignore collection calls and...
If you’ve learned that a creditor is “insolvent,” that is certainly a troubling (if not unexpected) development. They may simply announce that they’re insolvent or they may receive a court-issued insolvency order. People often assume that if an individual or business...
Businesses owed money by individuals sometimes need to take legal action. When a debtor refuses to pay what they owe, a lawsuit can force them to be accountable financially. Successful debt litigation can lead to wage garnishments. The creditor can potentially...
If you run a medium to large-sized business, you know that outstanding debt can create a ripple effect that may impact your bottom line and company success. While any industry can encounter collection challenges, some face particularly tough hurdles in this area due...
When a customer or associate owes your business past-due debts, these losses can eventually begin to impact your operations. Taking the matter to court can lead to a judgment in your favor, but it does not guarantee the debtor will actually pay. A process called...
