Collection

Businesses attempting to collect on outstanding debts are subject to certain restrictions. Adherence to all state and federal regulations regarding debt collection is critical. Companies also need to ensure that they do not violate the protective provisions of...

For small business owners, unpaid debts have always been an issue. A business may be running on thin margins. If services or products have been provided, the company needs to get paid. After all, it has its own loans and other financial obligations, which are still...

Those facing escalating collection efforts may engage in aggressive avoidance. People quit jobs and move house to avoid collection efforts ranging from litigation to wage garnishment. Other times, they may attempt to hide resources from creditors, possibly by making...

When someone stops paying their loan, business owners have legal options to get back what is owed. For businesses that lend or lease property with the expectation of payment later on, one option available is replevin. Replevin is a legal action that helps recover the...

A subprime borrower is someone who has a credit score that is under 670. These buyers often still qualify for car loans. However, recent reports show that the number of defaults on these loans has been increasing in the last few years. When looking at those who are at...

Every business depends on steady cash flow to stay competitive and grow. Nevertheless, some common practices can expose companies to a higher chance of customer nonpayment.  By identifying these risky habits and addressing them early, owners and managers can help...

A lack of payment in a contractual situation can have a significant negative impact on your business. Say that your company is a parts and materials supplier for manufacturers in the area. If you deliver a shipment and are never paid by the manufacturer, you may need...

Many companies market their goods or services directly to consumers. However, a significant portion of modern organizations specifically do business with other companies, rather than the general public. Business-to-business operations can be lucrative, provided that...

Creditors and lenders attempting to collect on debts have many options available to them. Written communications, phone calls and even legal action can help compel a debtor to fulfill their financial obligations. In some cases, debtors attempt to seek legal protection...

Collecting a debt from a business is different than collecting a debt from an individual. Different rules apply, making different collection tactics necessary. Frequently, the debt collection laws most people know apply to debtors who are people, not companies....