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…

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…

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…

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…

If you are served with a lawsuit by Portfolio Recovery Associates, LLC, you are not alone. Suing consumers is part of Portfolio Recovery Associates’ business model. However, this doesn’t mean that you can simply ignore the lawsuit. If you fail to respond to a lawsuit by Portfolio Recovery Associates, the court will enter a default…

When a debtor in California fails to respond to a debt collection lawsuit, he or she faces the prospect of a default judgment. Essentially, a default judgment means that the debtor loses the case, and he or she must pay the debt owed to the debt collector. This applies even if the debtor doesn’t actually…

If you’ve been served with a debt collection lawsuit, you are undoubtedly experiencing a wide array of emotions. Anger, confusion, fear, and anxiety are common reactions to finding out that you’re being sued by a powerful debt collection company. Fortunately, if you are the recipient of a debt collection lawsuit, you don’t have to face…

Debt collectors often resort to aggressive tactics when attempting to collect a debt. Unfortunately, many consumers are unsure of how to respond when confronted by an aggressive debt collector. However, by reviewing the information below, you will be armed with the information necessary to successfully respond to a debt collector who crosses the line. In…

Some debt collectors will do whatever it takes to collect a debt. Unfortunately, this sometimes includes using deceptive tactics to trick consumers into paying up. And this can result in consumers paying debt collectors for debts they don’t legally owe. In this article, we examine whether debt collectors are permitted to trick consumers into paying…