When a business is struggling to collect unpaid debts, frustration can run high. It may be tempting to call out a debtor publicly on social media or other online platforms, especially when other collection efforts have failed. However, posting negative comments about...
Collection
Collection rights when a debtor files for bankruptcy
When a debtor files for bankruptcy, it can be frustrating and financially challenging for creditors. Businesses owed money may understandably worry about their ability to recover outstanding debts and what legal options remain available. Yet, while bankruptcy can...
Do you require personal guarantees for your business loans?
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....
3 categories of people who fail to pay debts
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...
Repossession and replevin: What’s the difference?
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...
Holding a business owner accountable for an LLC’s debts
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...
Can business owners pursue wage garnishment for unpaid bills?
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...
3 solutions available after a business debt lawsuit
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...
What does it mean if a debtor is insolvent?
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...
Acting when a debtor crosses state lines after a lawsuit
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...

