As a creditor, it is vital that you understand the limits of the law when confronting payment delinquency. When it comes to contacting delinquent clients, the Fair Debt Collection Practices Act, or FDCPA, governs much of this. One of the provisions of the Act is that...
Month: January 2021
read more
Types of acceptable collateral for secured loans
Secured debt allows for creditors to reduce their risk when loaning out money, but not all collateral takes the same form. When people default on their debts, creditors may seize the collateral pledged in the contract in order to resell it and avoid a total loss. Any...
Can you recover the costs for materials with a mechanic’s lien?
Your skills and expertise are typically what clients covet when they bring you in to provide work on a construction or property improvement project. It is the application of that labor that is typically the subject of a mechanic's lien (indeed, the use of the word...