Businesses attempting to collect on debts often have more options when a debtor is a business rather than an individual. There are multiple ways to hold another company responsible for unmet financial obligations. In some cases where leadership at an organization has proven unwilling or incapable of properly managing company resources and fulfilling...
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How much must a debtor make for garnishment to be possible?
There are several different ways to collect on a debt when the party who owes money isn't cooperative. In some cases, creditors can take debtors to court and can secure a judgment against them. With a judgment, it may be possible to intercept a portion of an individual's income. Wage garnishment rules allow creditors to secure payment directly from a...
Can debtors use trusts to avoid financial obligations?
Businesses trying to collect valid debts often have an uphill struggle. Those who intend to fulfill their financial responsibilities usually do so with minimal oversight. On the other hand, those trying to avoid their financial responsibilities can take extreme measures to avoid paying their debts. Companies trying to hold individuals accountable for...
How the courts can help creditors with out-of-state judgments
Consumers who owe others money are often eager to get their accounts back into good standing. They want to avoid or at least limit the credit consequences of their debt and prevent lawsuits brought by creditors. However, there are always a few bad apples willing to take things to an extreme in their attempts to avoid personal financial responsibility. Some...
Using liens to compel debtors to pay what they owe
Creditors trying to collect on a debt generally try to pursue amicable solutions whenever possible. Negotiating payment arrangements and cooperating with those who have fallen behind on their obligations is often preferable to aggressive collection efforts. Unfortunately, many people with substantial debts do not make a reasonable and appropriate attempt...