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Offering payment plans after securing a debt-related judgment

After working hard and obtaining a justified court judgment, the best-case scenario would involve a large, single payment made by the debtor. However, such easy and voluntary outcomes are not particularly common. Someone who has made concerted efforts to avoid financial responsibility for a debt may not have the liquid capital or current income necessary...

We help out-of-state creditors

The legal system is designed so that different courts have different jurisdictions. Generally speaking, those who wish to take legal action against a debtor must file papers in the jurisdiction where the debtor owns assets. For example, they may reside in New Mexico, but most of the debtor's assets could be investments located in California. So, suppose...

Debtors sometimes hide assets under an alter ego

Creditors have to jump through many legal hoops to collect money from debtors. Even after winning a judgment, they still have to collect their debt, often taking further legal steps. Many debtors are well aware of the process and do their best to avoid paying. One misdirection they sometimes use is hiding assets under an alter-ego, pseudonym or related...

How intangible levies work

People hear the words "business asset" and immediately think of money, real property, products, and other things of value that physically exist. On the other hand, intangible assets also add value to the company but instead involve such concepts as agreements, reputation, goodwill, non-competes, patents and copyrights. These can be hard to put a value on,...

Are you an unwilling creditor?

Some businesses refuse to pay their debts. Despite having a legal obligation to pay, this business remains in operation but does not pay. From a creditor’s point of view, the debtor is using money owed to keep their business afloat. While the debtor may justify these actions by arguing that they must stay open and earn money to repay the debt, the...

What if a business bounces a check?

Using checks to pay for goods and services is less common than it once was. People now often use various electronic methods, ranging from debit cards to credit cards to Venmo or PayPal. However, businesses will still often use checks for B2B transactions. The reasons vary, but checks leave an easily verified paper trail and have a standard format for...

Do promissory notes hold up in court?

Promissory notes are legally binding contracts that can hold up in court if the terms of borrowing and repayment are signed and follow applicable laws. Important details to include are: The amount of money borrowed Who borrowed the money The date the sum was borrowed The loan’s interest rate (if any, and make sure it is not usurious) The recipient of the...