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Establish preventative measures to help your small business with the debt collection process. If you are a small business owner, you are often the most vulnerable when it comes to debt collection due to the vast resources accessed by larger companies. Lack of payment by just a few large clients, or many small ones, can be financially disastrous for your bottom line.
Have you thought about using a balance transfer to pay a debt collector or to consolidate debt with high interest rates? That strategy can work but you have to be very careful. You need to avoid expensive traps and choose the right card. This article, which quotes the co-author of the free Debt Collection Answers ebook Gerri Detweiler, provides essential advice.
Section 523(a)(2)(A) of the Bankruptcy Code allows a creditor to obtain a judgment denying its debtor a discharge of debts incurred by false pretenses or actual fraud. However, if the debt itself was not incurred by actual fraud, but the debtor subsequently transfers his assets with the intent prevent its creditors from obtaining payment, may the creditor still obtain a judgment denying the debtor’s discharge under § 523(a)(2)(A)?
Last month, the CFPB issued its much anticipated and much dreaded proposed arbitration rules. In its own words, the CFPB proposes “rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court.” The proposed rule includes 355 pages of justification prior to presenting the rule in a concise 10 pages. The content of the supplementary information appears to be a lengthy attempt to justify the rule as being in the “public interest” and “the protection of co
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
FEDChex Recovery remains a recognized leader in providing Depository, Treasury, Risk Management and Collection solutions for businesses and financial institutions. We maintain our commitment of supporting our client’s requirements by delivering cost effective, ethical, reliable, and high quality solutions of strategic value. We pride ourselves on sustaining a challenging and rewarding work environment for our greatest asset, our employees.
Guest Blog by Murray S. Lubitz, Esq., originally published March 2012 as Personal Guarantees by ABC/Amega, a National List Forwarder. Content via The National List of Attorneys. It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate oblig
Guest Blog by Murray S. Lubitz, Esq., originally published March 2012 as Personal Guarantees by ABC/Amega, a National List Forwarder. Content via The National List of Attorneys. It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate oblig
Many lenders attempt to render their borrower bankruptcy remote by requiring the borrower to have on its board a director, known as a “blocking director,” whose consent is required for any bankruptcy filing. However, in doing so, the lender needs to make sure the organizational documents which impose this condition on the buyer comply with requirements of the law of the state in which the borrower is organized.
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