When a business owns bad debt, there comes a point
when the costs associated with trying to collect on the loan exceed the benefit
that the lender w...
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There are two bankruptcy provisions for private
citizens—Chapter 7 and Chapter 13. Of the two, a Chapter 13 is usually
preferable if you qualify f...
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Small businesses have multiple options when deciding how to
proceed in collecting a bad debt.
Business owners are not
subject to the Fair Debt Co...
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Debt settlement is a legal solution for consumers who are deep in debt
and seeking an alternative to bankruptcy.
In exchange for a one-time pay...
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Chapter 7 is the “nuclear option” of bankruptcy—essentially,
you sell pretty much everything you’ve got and turn out your pockets, then pay
...
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When a business is owed money by an individual or an entity,
the business lender may attempt to initiate involuntary bankruptcy proceedings
for a de...
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Businesses have
multiple options when dealing with bad debts of customers. To be considered a bad debt, the business
must have taken all reasonabl...
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In certain situations where a debtor has defaulted or is
extremely delinquent, the lender may decide to try and secure the bad debt by
seizing the p...
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When considering bankruptcy or debt settlement, there are several factors to keep in mind. Bankruptcy is the process of asking the court system to d...
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