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Small businesses experiencing financial problems traditionally seek debt relief through a Chapter 11 bankruptcy. As noted by the United States Courts, the process requires business owners to submit a reorganization plan and disclosure statement. A reorganization plan...
Retail installment sales agreements allow a customer to pay over time for a purchase. If you wish to use this type of agreement in your business, it is essential to ensure that your contract contains the correct information. The Ohio Attorney General explains your...
Whether or not to extend credit is an important decision for your business. It can help you attract new sales and build loyalty with your long-term customers. However, credit comes with the risk of late or unpaid debt which can significantly impact your business’s...
If you are attempting to collect a debt, it is pivotal to understand your rights and your responsibilities. Sometimes, people fail to approach debt collection from the right angle, which can lead to serious penalties. There are different issues to consider if you are...
It is within your rights to contact customers who have neglected their payments. However, your methods must take an ethical approach and comply with federal standards. Using harassment to coerce your customers to pay their dues can have costly legal consequences. In...
Most people pay their debts, so offering unsecured lines of credit can be a lucrative financial enterprise. However, collecting payment from those who default can be costly in both time and money. Still, it is often worth it to take the extra measures to collect...
Managing a business venture can be difficult, as you must control overhead costs while keeping customers happy. If your customers do not pay outstanding invoices, you simply may not have enough cash for payroll, supplies or even the mortgage. Fortunately, you probably...
Perhaps you already experienced customers who did not pay their bill and seek to avoid it happening again. How do you go about doing so the right way? Business News Daily offers suggestions for dealing with buyers who do not settle their bills. Get ahead of payment...
When facing a contract dispute, it is important to have as many tools on hand to take care of the matter as possible. After all, what works for one dispute may not work for all of them. It is important to assess each situation on an individual level and make a choice...
When creditors need to collect money from people, one option that they may choose is wage garnishment. If they pursue this action, people need to understand the wage garnishment process. According to FindLaw, wage garnishment allows creditors to receive money from a...
