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As experienced collections attorneys, rather than providing a multitude of services to our clients in many different areas of law, we prefer to focus on debt collection and construction litigation with an expanded coverage area, which has resulted in our incredible success in Massachusetts debt collection. At the Law Offices of Alan M.
To address these issues, our latest blog explores the QCR Accelerator, a state-of-the-art , plug-and-play collection software specifically designed to streamline and automate debtrecovery processes. HURDLES IN DEBTRECOVERY Financial institutions are encountering considerable difficulties in collecti ons concerning unsecured loans.
Past-Due SecuredDebt. Just like individuals, businesses often have mortgages, vehicle loans, and other secured loans. Debt can also be secured using intellectual property, equity, and other soft debt. Missing payments on secureddebt causes the creditor to repossess the property as recourse.
Secureddebt: If a business receives a loan or other credit — like a credit card — because of specific assets or liquid collateral, they have secureddebt. Though more uncommon than equipment leases and unsecured debt, some businesses are able to acquire secured credit options.
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