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As a lender, you want to avoid losing money on a transaction if a debtor defaults on the loan. Through a secured transaction, you can repossess the property used to secure a loan and sell the property to recoup your losses. However, a debtor could still get the...
Someone who owes you money may have died before you can collect on the debt. However, your claim on the unpaid amount does not die as well. Under Ohio law, there are procedures in place to help creditors claim their debts from the estate of a debtor. The process of...
As a business owner, executive or manager, preparing ahead of contract negotiations is essential. Not only will this help protect the interests of the business and ensure favorable terms, but preparation can also alleviate negotiation stress. Before entering contract...
If you have not received payment for work performed on a residential or commercial property, it is crucial to take a firm stand for your rights. Depending on the details that surround your situation, filing a mechanic's lien could help you recover payments you deserve...
You may have a promissory note forming an agreement with another party. This document binds the signer to pay you a specific amount of money in exchange for a loan or another service. If the debtor is late with your payment, you could use the note to claim the debt....
Before deciding to extend a credit line to a business, it is important to find out if the potential borrower is on solid financial footing. Sometimes lenders discover that a company is not capable of paying back money only after approving a loan or credit. According...
When you win an Ohio court case against someone who owes you a debt, you may expect the money owed to you to arrive in a timely manner. However, just because a judge or jury orders a judgment against someone does not mean it is going to be easy to collect the debt...
Debt collectors have rights and responsibilities when it comes to collecting on their debts. It is crucial for these people to follow guidelines set by the government. Failure to follow said guidelines can result in serious penalties, like enormous fines or even time...
When someone in Ohio owes you a debt but refuses to pay it, you have options when it comes to how you might go about trying to recover what the non-paying party owes you. Depending on the circumstances, you may try to utilize traditional debt collection tactics – or...
When a client, customer or patient neglects to pay you for services your Ohio business rendered, you may try sending reminders or making phone calls to the nonpaying party before taking further action. Sometimes, you may have no choice but to take additional measures...
