We Don’t Stop Until We Succeed
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...
Most people who borrow money or sign financial agreements will eventually make good on their obligations. They will make monthly payments until they have fully covered the balance owed and will do their best to keep their accounts in good standing. However, there are...
When one business or individual owes money to another party, they may fail to follow through on their obligations for a variety of reasons. Sometimes, a debtor falls behind because of a budgetary shortfall. Other times, they may have engaged in fraud by entering into...
There are numerous laws restricting the activity of debt collection professionals. In general, both professional collection specialists and those pursuing internal collections for a business must carefully comply with federal and state rules about fair debt collection...
Creditors in California that are owed money by individuals who seem eager to avoid their responsibilities have options. While both state and federal law regulate collection efforts in an attempt to prevent abuses, the laws intended to protect consumers often put...
Most individuals who take on personal debt are responsible for their financial obligations. They make timely payments and communicate if something occurs that will result in a late or missed payment so that creditors don't feel the need to engage in immediate...
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,...
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...
Sometimes it is necessary to take legal action to collect debts from a business. Still, even when the courts rule in favor of the plaintiff, the creditor is responsible for collecting the debt owed to them. Garnishing income from a business is one option, but...
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,...