A lien is a legal claim against the property or assets of a business. When a lien is placed on a piece of property, it gives a creditor a security interest in that property until the lien is released. Although the lien laws affecting small businesses vary by state, a creditor can usually file a…
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Business Debt Collection Rights: What You Need to Know as a Business Owner
For most people, starting a business involves taking on some debt. Without the ability to take out loans for equipment, retail property, and other business expenses, most new businesses would never make it off the ground. Unfortunately, however, when a business fails to meet its financial goals, it can become difficult to make timely payments….
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Should I Negotiate a Settlement with Portfolio Recovery Associates?
If you are the recipient of a lawsuit from Portfolio Recovery Associates, you need to act fast. If you fail to respond to your lawsuit in a timely manner, the court will enter a default judgment against you, which means that you will lose your case and be forced to pay the amount allegedly owed….
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Strategies to Get Your Midland Funding Lawsuit Dismissed
Although debt collectors often lack the documentation necessary to win cases against debtors in court, they know that a high percentage of the people they sue will fail to show up. And when a debtor fails to show up in court, the debt collector automatically wins. The court then enters a default judgment in favor…
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The Truth About Debt Validation Requests
Have you received a letter or phone call from a creditor or collection agency demanding payment on a debt? If so, you may have heard about the option to request debt validation as a way to dispute the debt and get information from the debt collector. While it’s true that you have the right to…
Continue reading…Options Small Businesses Have When Dealing with a Debt Collection Agency
When you own a small business, it’s easy to accumulate debt. Sometimes, sales drop off for no apparent reason. Other times, rent and inventory prices rise without warning. Although taking on a certain amount of debt comes with the territory when you own a small business, too much of it can quickly become a big…
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Can Portfolio Recovery Associates Call Me at Work?
Debt collectors will go to great lengths to collect a debt. Unfortunately, in their hunt for profits, debt collectors sometimes break the law. The Fair Debt Collection Practices Act (FDCPA) is a federal law that outlines what debt collectors may and may not do when pursuing a debt. One area that the FDCPA covers is…
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Is It Possible to Settle Your Small Business Debt?
Starting a small business almost always entails taking on some debt. Unfortunately, however, businesses don’t last forever, and some businesses close before they’ve had a chance to pay their debts. When this happens, it often leaves small business owners wondering what they can do about their outstanding debt. In this article, we examine whether it…
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What Should You Do if Midland Funding Contacts You?
Being contacted by a debt collector is not most people’s idea of a good time. And although it may be tempting to ignore debt collection phone calls or letters, this isn’t a good strategy. In fact, ignoring communications from a debt collector is one of the worst things you can do. Midland Funding, which is…
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Can Cavalry SPV Take Me to Court?
Cavalry SPV, which is also known as Cavalry Portfolio Services, is a debt collection organization that buys debts in bulk from loan and credit card companies for pennies on the dollar. Cavalry then makes efforts to collect the debts. A major part of Cavalry’s debt collection strategy is to file lawsuits against consumers. In this…
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