Personal Guarantees in Commercial Collection: How Helpful Are They?

The McHughes Law Firm

In today’s volatile marketplace, the existence of a personal guarantee may provide the only viable basis for collecting outstanding receivables from a corporate obligor experiencing financial difficulty. Guarantees can be classified as being either guarantees of payment or guarantees of collection, and the distinction is important to recognize. A provision for the recovery of collection expenses and attorney’s fees should be inserted. DEBT COLLECTION

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 5 – Commercial Foreclosures 101

Jimerson Firm

Sometimes, foreclosure of a commercial property is the only option available to lenders and servicers to limit losses as a result of defaults on hotel and restaurant mortgages. Practically speaking, a commercial foreclosure action proceeds much the same as other civil actions.

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Canceling and Rescheduling a Mortgage Foreclosure Sale Now Requires a Motion

Jimerson Firm

Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections

Serving a Defendant in a Residential Foreclosure Action by Publication

Jimerson Firm

Banking & Financial Services Industry Blog Creditors Rights and Commercial CollectionsA residential mortgage foreclosure action is initiated in Florida by filing a verified complaint with the appropriate court.

Mitigating Risks Associated with Hotel, Restaurant and Entertainment Industry Economic Challenges: Part 4 – Assignment of Rents Under Section 697.07, Florida Statutes

Jimerson Firm

Additionally, during a foreclosure action, the lender/mortgagee can request the borrower/mortgagor to deposit the collected rents into the registry of the court or in such other depository as designated by the court. §697.07(4). Losing the Right to Collect Rents: Junior Foreclosure Sales.

Florida’s Fast-Track Residential Foreclosure Process

Jimerson Firm

Banking & Financial Services Industry Blog Creditors Rights and Commercial Collections

Overview of Florida’s New Uniform Commercial Real Estate Receivership Act

Jimerson Firm

On July 1, 2020, the Uniform Commercial Real Estate Receivership Act (“Act”) became law in Florida as part of the newly created Chapter 714 of the Florida Statutes. sell, lease, license, exchange, collect, or otherwise dispose of receivership property.” § 714.02(14),

Does a Commercial Landlord Have a Duty to Mitigate Damages After a Tenant Breaches the Lease Agreement?

Jimerson Firm

Generally, a commercial landlord does not have a duty to mitigate or reduce its damages after a tenant breaches the commercial lease agreement. However, there is an exception where the commercial landlord retakes possession of the premises for the benefit of the tenant. Nevertheless, the better practice may be for commercial landlords and property managers to always attempt to mitigate damages.

Brown & Joseph Welcomes Ellen Reinhardt

Brown and Joseph

ITASCA, IL – Brown & Joseph / Altus, the leading Commercial Collections company in the U.S., is very pleased to announce that Ellen Reinhardt has joined… The post Brown & Joseph Welcomes Ellen Reinhardt appeared first on Brown & Joseph, LLC. Articles News news

Tom Yodzis Joins Brown & Joseph

Brown and Joseph

ITASCA, IL – Brown & Joseph, an international commercial collection agency for Insurance Premium Recovery announces that Tom Yodzis, formerly with CNA Insurance and Zurich… The post Tom Yodzis Joins Brown & Joseph appeared first on Brown & Joseph, LLC. Articles News debt collection insurance news

Brown & Joseph and Altus Receivables Management Have Merged

Brown and Joseph

Brown & Joseph and Altus Receivables Management, leading providers of third-party commercial collection services, announced today that the companies have combined, forming one company and… The post Brown & Joseph and Altus Receivables Management Have Merged appeared first on Brown & Joseph, LLC. Articles News debt collection finance news

How a Skilled Collections Lawyer Improves Your Odds of Commercial Debt Recovery

Collections Law

Bad debt collection is as much of a part of a business as are sales. That is why you should leave bad debt collection to the experienced aggressive debt recovery attorneys at the Law Offices of Alan M. We have collectively between our two collections attorneys almost 50 years of debt recovery experience. . The faster you move collecting commercial debt, the higher your chances of success. Helpful Information for Collecting Your Debt.

Disappearing Debtors: Improving Your Chances of Successful Debt Collection

Stevens Lloyd

Few people are knowledgeable when it comes to collecting money and commercial debt recovery agencies. Debts have mounted throughout world economies and the need for collection agencies have risen. Business to business debt collection is often most successful when a professional collection agency is involved. Collection agencies are like dentists in the sense that you hope you never need one but if you do you want the best.

Summit AR

Recoverity

In a sea of large, faceless consumer and commercial collection agencies, ours specializes in treating people right and following all the rules—and we selectively choose clients who share these same values. From small businesses and practices to major corporations, we represent companies that want their monies collected using a different kind of approach. Experienced Collection Professionals. If our consumer / commercial collection agency sounds like a good fit for you.

Business Debt Collection Laws and their Connection to Commercial Debt

Debt RR

The good news is that it is your right to collect on debts as long as you follow the right legal procedures. If you operate a B2B model, you are required to follow business debt collection laws. If you owe or another business owes you, you are in good company because this article discusses the nitty-gritty of business debt collection laws. What are Business Debt Collection Laws? The business debt collection laws protect them. What is Commercial Debt?

A Comprehensive Overview of How Commercial Debt Collection Agencies Work

Debt RR

Sometimes, that debt gets out of hand and businesses find themselves on the receiving end of calls from commercial debt collection agencies. Calls from a commercial debt collector can create an enormous amount of stress for many business owners. Here’s everything businesses need to know about commercial debt collection agencies and how to manage communication without disrupting day-to-day operations. What Do Commercial Debt Collection Agencies Do?

Debt Collection & Business Credit

The Kaplan Group

Commercial collection agencies like ours specialize in collecting on B2B debt. If your business is getting calls from a collection agency, you may wonder how this will affect your business credit. Like personal debt, being sent to collections can affect your credit rating. Depending on how your company is set up, and how the debt was incurred, business collections can also impact your personal credit rating.

Collect More Money

Tucker Albin

We will collect more money on accident than other agencies do on purpose. That’s a pretty confident statement to make I know, BUT would you want anything less from a commercial collection agency? FIRST RULE in Collections: Time is of the essence! What is there for you to lose by talking to one of the best commercial collection agencies in the business? The post Collect More Money appeared first on Tucker Albin

Advanced Debt Collection Techniques, Part Two

Stevens Lloyd

At the Stevens-Lloyd Group, in addition to utilizing our unique blend of incorporating phone calls, strong written communication skills and litigation, we also utilize more advanced debt collection techniques. Once the court issues your writ, your debt collection attorney will transfer it to the sheriff, marshal, or constable in the area where the debtor operates. Presently, you must move forward to collect. Debt Collection Strategies

WHY DELINQUENT ACCOUNTS REQUIRE SWIFT ACTION

AGA

Don’t let current economic conditions provide the basis for extending the time you will permit an account to age prior to instituting formal collection efforts. THE COLLECTIBILITY OF DELINQUENT ACCOUNTS. A survey by the Commercial Law League of America (CLLA) illustrates how much more difficult it is to collect delinquent debt as it ages. Source: Commercial Law League of America. . of each dollar will be collected.

Using Reach and Apply Injunctions to Recover Debt in Massachusetts

Collections Law

Are you struggling with debt collections from a debtor who seems to have no intention of paying you back? Cohen is a Massachusetts debt recovery attorney who can help you with your business to business debt collection matters by taking appropriate, aggressive, and smart legal action to recover the debt smoothly and promptly — and that is not an overstatement. This way, we can determine the best tactic for debt collection. Cohen to attempt to collect from one of its customers.

How Aggressive Collections Attorneys Can Aid in Massachusetts Debt Recovery

Collections Law

The experienced collection attorneys at the Law Offices of Alan M. Collection agencies are passive organizations that make the same effort you were making before you brought them on board. At the end of the day, a collection agency will collect only low-hanging fruit and tell you that there is nothing more that they can do to help you. Why Hire a Collections Attorney? An experienced collections attorney will do more than merely advise you on what you need to do.

The Importance of an Experienced Collections Lawyer After COVID-19

Collections Law

When the time comes to return to normalcy, you should be prepared to return to business as usual, including collecting any outstanding debt you may currently be owed. Navigating this with the help of an experienced collection attorney is critical, and the Law Offices of Alan M. The processes our aggressive collections attorneys use to pursue your outstanding receivables works; the results speak for themselves.

Find the Right Collections Agency for Your Business in 4 Easy Steps

Credits Inc

Choosing the right debt collections agency for your company or project is the first step towards getting your business finances in order. Without proper research and careful consideration, your business could end up dealing with an even greater collections conundrum. debt collection services. Try the following steps to find the right business debt collection agency for your business’s unique situation: 1. Determine Your Collection Needs.

3 Tips for Hiring a Debt Collection Agency

National Service Bureau

In reality, debt collection agencies are the most useful means to get someone who has a legitimate contractual obligation to make good on their promise so that the honest businessman (perhaps yourself or your company) on the other side of the trade doesn’t get left holding the bag. Choosing the right debt collection agency is an important decision that can have both positive and negative repercussions for your business. If the collection agency violates the terms of their bond (e.g.