Anyone can use a trust to serve a number of financial goals. An individual can draft a trust to help the creator ensure beneficiaries use assets to fund higher levels of education or the management of properties. A creator can make a trust to help reduce their...
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Consumer Debt Collection
How debtors try to abuse personal bankruptcy and hurt businesses
There are numerous ways that debtors filing for bankruptcy might abuse the system with fraudulent activity. Hiding assets from creditors is a common scheme since people don't want to give up their property but still want to receive a discharge of their debts. However,...
The role of a forensic accountant in difficult collection cases
An individual owes your business a significant amount of money. Despite having a job, a vehicle and a house, they claim that they simply cannot make payments on what they owe you and default on the debt. Maybe they even try to file for bankruptcy to keep you from...
3 kinds of debts to pursue when a debtor dies in California
What happens to people after death? No one knows for sure – but one thing is certain: if they are in debt in California at the time of their death, some of their debts will have to be paid. This is because California is a community property state, meaning that a...
Understanding California’s statute of limitations on debt collections
Companies that extend credit to individuals and those that offer billing after service have been performed will often wonder how they can collect on those debts. While many people who utilize credit to pay for things will take care of those bills, there are some cases...
Can you collect debts from retirement plans?
When a debtor claims they do cannot pay you what they owe, it is crucial you search far and wide. People who say they do not have money might not have a full bank account, but they may have funds in places they think you cannot touch. One place people believe their...
Can someone give away assets instead of repaying their debt?
People who owe more money than they can reasonably repay sometimes go to great lengths to avoid taking responsibility for their own debts. Sometimes, they will go as far as to quit their job to avoid wage garnishments or get rid of their own property so that creditors...
How do I start a lawsuit against a debtor?
There are many ways to persuade a debtor to pay you the money they owe. Yet, sometimes the only option remaining is to file a lawsuit. If so, you need to know what this entails. First, it is essential to remember a lawsuit will cost you time and money. While you may...
New California case changes the way creditors can collect their debts
Judgment and debt collection is an ever-changing field, and new challenges of statute interpretation arise in the courts every day. If you are a creditor in California, you should pay attention to a new lawsuit that has changed the way California courts classify...
The rights of creditors to seek payment of debt
Companies are entitled to payment when a California customer fails to pay for something purchased on credit. The process of actually securing payment from an unwilling customer can be complex, and it may be necessary for a creditor to seek the assistance of a debt...