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Personal Guarantees in Commercial Collection: How Helpful Are They?

The McHughes Law Firm

It is a prudent credit manager that attempts to obtain personal guarantees from the principals of an incorporated entity to which credit is being extended. Guarantees can be classified as being either guarantees of payment or guarantees of collection, and the distinction is important to recognize.

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Finding A Collection Agency: Part 1 - The 5 First Steps

Credit Management Company

Are you worried that if you refer your customers to a debt collection agency you’ll lose control of your brand? Here are the best steps to follow when looking for a collection agency to work with, from evaluating whether it’s the right move, to seeking quality referrals. Be sure you document all your attempts to collect the debt.

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Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges – Part 3: Commercial Mortgage Default Options Including Acceleration and Enforcement of Personal Guaranties

Jimerson Firm

Additionally, Florida law provides that there can be multiple judgments for the same debt but the same debt can only be collected once. 5th DCA 1980) (“Since the appellees unconditionally guaranteed payment of the debt to the bank, clearly the bank could obtain a judgment for the deficiency against each of the guarantors and the debtor.

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