Who is a Secured Creditor? Secured creditors have an interest in some sort of asset. These assets could include a car, boat, land, and other property. If you don’t pay the debt of a secured creditor, this creditor can seize the property. Secured Debt: How to Collect One of the… Continued
There are many ways that a creditor may seek to collect an outstanding debt. For example, the creditor may attempt to collect the debt through direct communications with the debtor, by filing a lawsuit against the debtor, by seeking to take possession of or to sell property securing the debt,… Continued
As a business owner, collecting debt from a customer can be challenging. And while it may be tempting to engage in self-help remedies or other tactics to recover debt, keep in mind that some methods are strictly prohibited. Here are a few examples of debt collection practices that are prohibited:… Continued
If your business has been in the red for a while, and you cannot pay off your business debts, your creditors may start looking for money. They can do this by threatening legal action against you or your business. For these reasons and more, it is critical to consult with… Continued
Attempting to recover a debt from a customer can be very challenging, and business owners have a difficult choice to make when a customer does not pay their bill: do you pursue the customer or not? What happens when the customer files bankruptcy? At that point, you have to decide… Continued
If another company owes your company money, chances are you want to collect on that debt as soon as possible while still preserving the business relationship whenever possible. While some debt collectors are unnecessarily aggressive, the collection process does not have to involve harassment and such aggressive threats of litigation.1 In fact,… Continued