Living in Florida and running a business has been something that you enjoy, but what you don’t appreciate is when someone doesn’t pay what they owe. You’ve called to try to collect the debt, but you haven’t been able to resolve the issue. In this case, something that...
Collection
Are cars the only thing that can be repossessed?
Any business that lends credit to buyers or renters, unfortunately, must be adept at debt collection. When the debt is secured with a physical item or asset, the debt collection process can include repossession. Repossession is the act of reclaiming property in an...
Does bankruptcy always mean an end to your collection rights?
When a person or business owes you money, you may have to go to great lengths to convince them to pay. Frequent phone calls, strongly worded letters and even civil lawsuits may be necessary to convince someone to repay what they owe you. Occasionally, the people who...
How many students fail to pay back their loans?
The majority of students have to take out loans to go to college. Unlike other countries, the United States does not have tuition-free education at the university level, so tuition is a major financial investment. Naturally, many 18-year-olds have little income and...
Debt collection agency or collection attorney: Which should you choose?
Business ownership comes with its many perks. The sky's truly the limit in terms of how much you can make. Unfortunately, business ownership comes with some downsides, too. One of those is when your customers or clients don't pay their bills. Most business owners...
3 mistakes you could make if you try to collect debts yourself
When your business lends money to someone or extends credit to individuals for purchases or services, there is always the risk that someone won't repay what they owe you. Hiring an outside collection firm can seem like an expensive solution, so you might feel like...
How the Florida courts can compel someone to repay a debt
Collecting an unpaid debt can be one of the hardest parts of running a business. When an individual owes your company money but refuses to pay, you may feel like you have few options even though you know the law is on your side. Instead of selling your debt to some...
Florida Protects Marital Property
Florida provides excellent protection for collection against marital property by presuming that the property is held as tenancies by the entireties. Tenancies by the entireties means that property is held by husband and wife jointly with rights of survivorship of 100%...
Collections
When handling collections of debts, what would make my job a lot easier is if the debt itself was evidenced by writing. This could be in the form of an invoice, purchase order, promissory note, personal guaranty or contract. However, any written memorandum signed by...
Collection against LLCs just got easier . . .
Collection against a limited liability company (LLC) in Florida has just become a little easier thanks to the revised statutes governing LLCs. Starting January 1, 2014, distribution to LLC members cannot be made if the result would be to leave the LLC insolvent and...
