We Don’t Stop Until We Succeed
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,...
Generally speaking, a debt is only gone when the debtor pays it. Still, California does have a four-year window in which the creditor can take legal action to enforce a valid written contract. However, the clock on the four-year limit can restart each time a debtor...
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...
Some debtors seem to specialize in being an even bigger thorn in the side of their creditors. It can be a matter where they say that they will pay the money, and then after a few payments, miss one again. Or they pay less than owed but enough to string along the...
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...
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...
Determining a precise amount owed on a judgment is a vital part of the collection process. If the amount is incorrect, the court will not issue a writ of execution, which is required to levy on the debtor's assets. And if the court accidentally issues the writ or levy...
It is common to hear that a debtor does not have the money to pay a creditor. They may go to court and say it. They may tell the creditor or anyone else, claiming that business is slow or that they are overextended. Of course, this is not what the creditor wants to...
The law provides several options for creditors intent on collecting a debt. The creditor trying to collect a debt will file a lawsuit with the court. If the court agrees with the plaintiff, it will issue a writ of execution to the judgment creditor, which allows them...