A California law that took effect at the beginning of this year affects businesses and other organizations that need to collect debt owed to them by businesses. Specifically, the Rosenthal Fair Debt Collection Practices Act (RFDCPA) expands consumer debt collection...
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Collecting debt for your business? Avoid these 10 mistakes
A steady cash flow is crucial for any business. So, when clients or other business partners fail to pay you on time, it can significantly disrupt your operations. You may be determined to retrieve the money stakeholders owe you through debt collection. However, you...
How companies can protect themselves from debt collection scams
When people talk about the consequences of debt collection scams, they often focus on how inappropriate collection activity affects individual consumers. However, debt collector misconduct and fraudulent debt collection organizations can negatively impact businesses...
The timeline for debt judgment domestication in California
California state law extends several options to creditors trying to hold debtors accountable. In cases where one party falls behind on a payment arrangement or avoids communicating with a creditor, a lawsuit may be necessary. If creditors can convince the courts that...
How receivership can help creditors receive the payment they deserve
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...
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...
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...
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...
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....