article thumbnail

Can you still collect if the debtor has filed for bankruptcy?

Collections Law

There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount the business owes you. You should not give up, though. At Law Offices of Alan M.

Debtor 52
article thumbnail

Commercial Debt Collection for Businesses – 2023 Guide

Direct Recovery

But that debt can quickly become an anchor weighing down the entire company if growth sputters, and the resulting collections can be even more problematic than the debt in the first place. Of course, there is also the fact that you’re probably more concerned with running your own business than collecting from a failed one.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How long do I have to collect on a debt in Massachusetts?

Collections Law

If you have a customer who has not paid their bill, you might be wondering how long you have to collect on it. Perhaps you have tried to collect on your own to no avail and you are wondering what steps you should take next. In Massachusetts, all general debts have a six year statute of limitations on them for collection.

article thumbnail

Keeper attachments: How do they help you collect your money?

Collections Law

The commercial collection process can feel overwhelming sometimes. How the keeper attachment works In Massachusetts, the court may decide to appoint a “keeper” to collect cash from the debtor on your behalf. It pays to take action early Companies often wait too long to collect on bad debt.

article thumbnail

How can a mechanic’s lien help an architect?

Collections Law

Cohen LLC, our experienced commercial collections attorneys often help architects and other parties involved in real estate development pursue payment through mechanic’s liens. We have nearly 50 years of combined experience representing businesses in debt collection. At the Law Offices of Alan M.

article thumbnail

How To Remove BYL Collection Services From Your Credit Report

Better Credit Blog

When your debt goes into collections, it’s important to straighten things out quickly. If BYL Collections has been contacting you, the information below can help you move forward. How Does BYL Collection Services Work? BYL Collections isn’t a household name, but it collects for several businesses across multiple industries.

article thumbnail

SBA Loans: Offers in Compromise

Jimerson Firm

The compromise amount must bear a reasonable relationship to the amount that could be recovered in a reasonable amount of time through enforced collection proceedings, and it must be sufficient to protect the integrity of the SBA program. illness), paying it would cause financial hardship. (4)

Loans 96