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Having trouble collecting your delinquent accounts receivables or loans? Regardless whether you are a company or an individual extending credit, what you need to do is have a process in place to carefully manage your credit. This article explains 4 common mistakes to avoid when extending credit. Avoiding these mistakes can help you avoid and/or collect bad debts. Mistake 1–Not Doing Research on Your Debtor before Extending Credit If you are extending credit to a business, see whether the business is legitimate. To operate a legitimate in Maryland or Washington, DC, business, licensing and registration are required. Both Maryland or Washington, DC  host websites where... Read More

Having trouble collecting your delinquent accounts receivables? If you are a company and you want to stay in business, one of the first things that you need to do is carefully manage your accounts receivables. Moreover, if you are having difficulty collecting a consumer debt against an individual, you must also understand how the FDCPA impacts creditors.  What is the FDCPA? The Fair Debt Collection Practices Act (FDCPA) is a law that sets forth guidelines for the collection of consumer debts by collection agencies and collection attorneys. Additionally, it was meant to stop harassment of debtors by debt collectors. The FDCPA does... Read More

Are you a creditor and you just found out that your debtor declared Chapter 7 bankruptcy?  You probably find it confusing and you are not sure what you need to do next.  We can help.  First, read my earlier article on bankruptcy. Then review this article on assessing creditor rights under Chapter 7 bankruptcy. Chapter 7 is the most common form of bankruptcy in the United States.  Quite simply, the purpose of a Chapter 7 bankruptcy is to have a trustee sell the assets of a debtor and pay creditors.  The trustee pays secured creditors first.   Immediately afterwards, the trustee pays unsecured creditors if... Read More

Are you a creditor suing one of your debtors who isn’t paying their bills?  Your letters and phone calls have gone unanswered and your only option is to file suit.  But where should you begin? Where do you file the paperwork.   We have some tips about jurisdiction and venue for creditors filing suit against debtors. Jurisdiction Quite simply, jurisdiction gives a court the power to hear and decide a particular case. You should know that there are limits to the legal authority of each court to hear and decide cases. For most debtor/creditor cases, jurisdiction also relates to the amount of money... Read More

Are you a creditor suing one of your debtors who isn’t paying their bills?  Your letters and phone calls have gone unanswered and your only option is to file suit.  Once you file all of the paperwork, the court notifies you of the trial date.  What should you do to improve your chances of winning the case.  We have some tips for creditors going to court. Preparing for a Courtroom Appearance Make a professional courtroom appearance.  Make sure that you arrive early to the courthouse so you can enter through security, find the right courtroom, and enter the courtroom before the trial starts.  Dress professionally.  Turn off... Read More