Collections Law

SEPTEMBER 10, 2021

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.

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Collections Law

MAY 12, 2022

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.

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Direct Recovery

APRIL 18, 2023

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.

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Collections Law

NOVEMBER 4, 2021

The commercial collection process can feel overwhelming sometimes. Prejudgment attachments allow us to identify the debtor’s assets before the court issues a judgment, which we can then seize to satisfy the judgment. This works best when your debtor is a cash-heavy business, such as a retail store or restaurant.

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Jimerson Firm

JANUARY 27, 2021

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)

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Jimerson Firm

DECEMBER 30, 2020

Essentially, a workout agreement restructures the material terms and conditions of the SBA loan in order to: avoid actions such as foreclosure or bankruptcy; allows the borrower to cure the default and improve their ability to repay the loan; and enables the lender or CDC to maximize their recovery on the loan. SOP 50 57 ; SOP 50 55.

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Jimerson Firm

JULY 30, 2020

For example, when a borrower becomes insolvent or files for bankruptcy, the lender can still attempt to mitigate its damages by seeking to recover all or a portion of its damages from the guarantor. Additionally, Florida law provides that there can be multiple judgments for the same debt but the same debt can only be collected once.

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