As a business owner, you should know that there is a statute of limitations on debt collection. It can last anywhere from three to 15 years, depending on the state, which can make it hard for you to collect if the debtor continues to ignore your attempts. Federal laws...
collections
How does Florida limit creditor garnishments for collections?
Some people don't repay their debts because they can't, and others don't make payments because they have other priorities. Individuals with income or bank accounts who don't pay their debts can frustrate businesses that they owe money to. They may actively try to...
What to look for in a debt collector
If you are struggling to collect on past-due accounts, you may be seeking the services of a debt collector. Choosing the wrong collection agent or agency could leave you stranded, however, still searching for solutions while taking on the cost of hiring a firm. The...
Can you collect on a judgment from another state in Florida?
Some people will go to incredible lengths to avoid making payments on legitimate debts, especially if they have judgments against them or have had their wages garnished due to a court order. People will quit good-paying, stable jobs just because they want to end a...
How can you collect on a debt when the person paying it dies?
When a person owes your business an outstanding debt, collecting that money in a timely manner is very important. You may make payment arrangements if they can't pay the debt in full at one time. However, sometimes situations arise where an individual isn't capable of...
Is it possible to collect debt from a business that went under?
We live in unpredictable times. The winds of economic change can blow forcefully and with little warning, toppling seemingly sturdy businesses. The repercussions of this type of collapse can ripple outward, affecting partners, vendors and creditors. So what happens if...
Why a civil lawsuit is often an ideal debt collection solution
When your business provides goods or services for an individual customer or another company, you expect timely payment for what you provided to your customer or client. After all, you incurred costs associated with the delivery of the goods or services, and your...
Corporate Litigation: Derivative or Not?
A recent Third District Court of Appeal decision clarifies when a shareholder may bring an action on his or her own behalf against a third-party or must bring the action on behalf of the corporation as a derivative shareholder suit. A derivative action is one brought...
