| Subject | Date Asked | Expert |
|
| Client won't pay | 11/16/2009 | Michelle Dunn |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, If you have a signed letter of agreement and they did not respond to your demand letter, I ...
|
| LLC and Debt | 11/16/2009 | Christine Janklow |
Q: If an LLC owes money and the business is closed, is the "forgiven" debt taxable to the members of ...
A: Michael: Thank you for your inquiry. In my experience, if the creditor "forgiving" the debt is ...
|
| breach of contract | 11/11/2009 | Michelle Dunn |
Q: Our company has a signed contract with a customer. Special ordered materials were purchased and ...
A: Deborah, If you have a signed contract that provides for the customer being responsible for any ...
|
| software | 11/2/2009 | Michelle Dunn |
Q: I am looking at "EZCollector" and "Collect" software, which would you recommend for a new agency?
A: I have never used EZCollector, but I have used Collect! When I started my agency I purchased ...
|
| Settlement of Personally Guaranteed S corp Line of Credit | 10/30/2009 | Michael Fay |
Q: I am part owner of an S corp that has a business line of credit which I signed a personal guarantee. ...
A: Rus- The answer depends on whether or not the bank chooses to report the personal credit aspects and ...
|
| business credit card debt default | 10/26/2009 | Michael Fay |
Q: I purchased a franchise in Florida 18 months ago and operate as a sole proprietor. My husband never ...
A: Christi. As you might have guessed, this is a legal question as well as a financial one, and I want ...
|
| dissolving an S-Corp. | 10/24/2009 | Michael Fay |
Q: Good Day, I have an S-Corp than I have had for 8 years. I have found no alternative, do to this raw ...
A: Linda As you probably know, your question is a legal one as well as a financial one, and I want to ...
|
| LLC | 10/24/2009 | Michelle Dunn |
Q: My friend had a business that was an LLC. Her partner got a credit card without her knowledge and ...
A: Debbie, If she had a partner but was an LLC and not a partnership, she must have had some type of ...
|
| Client won't pay | 10/23/2009 | Michelle Dunn |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, If you have a signed letter of agreement or a signed contract, you would take her to ...
|
| Personal liability for corporate debt | 10/23/2009 | Michael Fay |
Q: We have a small business which is incorporated and have been experiencing financial difficulty. We ...
A: Anna Your question is a legal one as well as a financial one, and I want to begin by saying that I ...
|
| Client won't pay | 10/23/2009 | Michelle Dunn |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, Go to the post office and get one of the red, white and blue priority mail flat rate ...
|
| RE; | 10/20/2009 | Michelle Dunn |
Q: Can a Creditor (fortune 500 corporation) after 5 years notify a debtor (small corporation) that a ...
A: Sharon, It depends on the type of debt and the state the debt is in or where the debt was incurred. ...
|
| Investment in LLC | 10/17/2009 | Christine Janklow |
Q: I just lost my job and was looking for some business opportunities. I am talking to a used car ...
A: Jai: Thanks for your question. I am not an attorney and can not comment on the legal issues you have ...
|
| Personal Guarantee | 10/9/2009 | Christine Janklow |
Q: An employee took out a personal guarantee on an American Express card and included the Company name ...
A: Tom: Thank you for your question. As the credit was taken on behalf of the business and used for ...
|
| business debt questions | 10/7/2009 | Christine Janklow |
Q: I am in a real jam, I was part of a Missouri S CORP and I help our VP get a vehicle as personal ...
A: Michael: Thanks for your inquiry. It seems the first thing you need to do is to contact the DMV in ...
|
| Collection Salary | 10/5/2009 | Michelle Dunn |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: I only have a couple of part time collectors now because of the explosion on the consulting/training ...
|
| Collection Salary | 10/1/2009 | Michelle Dunn |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: That depends on many things. Are you experienced in first party collections and looking to be a ...
|
| Collection Salary | 9/30/2009 | Michelle Dunn |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: Lucille, That depends on many things. Are you experienced in first party collections and looking to ...
|
| Sole Propietor but did not personal gurantor credit debt. | 9/29/2009 | Christine Janklow |
Q: I own a business which lost money the last two years as a sole proprietor. In fact I may have to ...
A: Kevin: Thank you for your question. The answer is simple and I am quiet surprised your legal counsel ...
|
| Would like to settle | 9/29/2009 | Christine Janklow |
Q: I have been out of a job since May 2009. I have been up to date with my credit card's above minimum ...
A: Geoffrey: Thank you for your question. Based on the situation you described, it would not be a bad ...
|
| Can a store that is now out of business collect on a debt? | 9/28/2009 | Christine Janklow |
Q: In 2006, my husband %26 I purchased some furniture from the local Gambles/True Value. When we ...
A: Christina: Thank you for your question. Based on the information you provided, you need to do two ...
|
| home based collection company | 9/27/2009 | Michelle Dunn |
Q: I am starting a home based collection company,and i need to buy some good debt collection paper. ...
A: As a home based or outside office based agency, if you are going to buy debt be sure you are ...
|
| collecting debit | 9/22/2009 | Michelle Dunn |
Q: i am a photographer and recently did a campaign for a client. i invoiced the client and the client ...
A: John, Your rights depends on a few things, do you have a signed contract or agreement? What does the ...
|
| Bank set off | 9/21/2009 | Christine Janklow |
Q: Can my bank use money from my IRA retirement accounts to off set a unsecured credit card past due ...
A: Jon: I am not an attorney, so I can't say for sure if your assets would be exempt under a Ch. 7 ...
|
| Bank set off | 9/15/2009 | Christine Janklow |
Q: Can my bank use money from my IRA retirement accounts to off set a unsecured credit card past due ...
A: Jon: Thank you for your inquiry. Technically, your Social Security benefits (which retirement ...
|
| Training | 9/15/2009 | Michelle Dunn |
Q: I have been a cash application manager for 8 years. I am looking to broaden my qualifications as I ...
A: Lisa, Due to the recession many people are taking advantage of online training to save on travel ...
|
| business debt collection | 9/14/2009 | Michelle Dunn |
Q: I am a small proprietor that has recently closed my store front and run my business from my home to ...
A: Karen, If you are really unable to pay what they are asking, the judge will look at your finances ...
|
| Going through business buyout | 9/10/2009 | Christine Janklow |
Q: I opened a restaurant in 2002 with a partner that had no credit. So I took out 4 credit cards the ...
A: Lori: Thank you for your question. So your business debt won't likely show up on a personal credit ...
|
| Late / Finance Charges | 9/8/2009 | Michael Fay |
Q: In dealing with a debt of a "Yellow Page" publisher that has been turned over to a collection ...
A: I am not an attorney, nor am I a debt collector, but I do know that you are blending the two ...
|
| old business credit card debt | 9/8/2009 | Christine Janklow |
Q: Our small business incorporated as an S-corp in 2008. We bought the ...
A: Mark: Thank you for your inquiry. Your situation is slightly complicated because based on the ...
|
| Business debt | 9/4/2009 | Michelle Dunn |
Q: Since 1995 my husband & I own a small company. Around 2007 we aquired alot of debt through our ...
A: Mysti, If you are paying COD for purchases while you pay down a past due balance, it is very ...
|
| personal quarantee | 8/27/2009 | Christine Janklow |
Q: This is my second question. Is there any way to transfer personal guarantee to the partner of the ...
A: Anna: Thank you for your question. To the best of my knowledge, there is no way to transfer your ...
|
| personal guarantee | 8/27/2009 | Michelle Dunn |
Q: I know that was very stupid of me, I personally guarnateed loans for my business. Now I can't make ...
A: Anna, If you personally guarantee any type of loan you are personally responsible. What happens ...
|
| credit repair | 8/25/2009 | Michelle Dunn |
Q: did you or do you have a credit repair book for sale?
A: Yes, I have a Fix your Credit special report that gives you the steps to take in order to fix your ...
|
| SBA loan forgiveness | 8/21/2009 | Christine Janklow |
Q: I read in one of your answers about a offer and compromise settlement, what is that? My business is ...
A: Cheri: It seems that you have spent considerable time trying to gain some concessions, and for the ...
|
| Offer & Compromise | 8/20/2009 | Christine Janklow |
Q: I read in one of your answers about a offer and compromise settlement, what is that? My business is ...
A: Cheri: Thank you for your inquiry. I regret your business is not doing well enough presently. You ...
|
| s-corp/personal foreclosure | 8/18/2009 | Christine Janklow |
Q: I own a house with another person and we would both like to sell, we are stuggling greatly to stay ...
A: Douglas: Thank you for your question. Sorry for your situation. You are like millions of homeowners, ...
|
| Credit card debt guarantor | 8/15/2009 | Christine Janklow |
Q: My client has been in business as a Texas corporation for 15 years. The corp. recently failed and ...
A: I don't know the specifics of terms of settlement for this account, but if you say the creditor is ...
|
| Business debts and personal guarantee | 8/5/2009 | Christine Janklow |
Q: I have a business that had a very bad last 12 months, and all of our various credit facilities are ...
A: Troy: Thank you for your inquiry. I regret that your business is suffering, no doubt due to present ...
|
| business credit card debt | 8/5/2009 | Michael Fay |
Q: I had a bank of america business credit card that I could not pay. My partner and I have a joint ...
A: Correct. Because this is a general purpose account there is no way to identify the source of the ...
|
