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Business Debt/Questions
| Subject | Date Asked | Expert |
| Sold LLC and New Owners defaulted on Unsecured Creditors | 2/1/2012 | Christine Janklow |
| Q: We had a business contract with Monitronics for three years sold the company with location that had ... A: Melissa: There are too many variations of contracts to know for sure. However, one could argue that ... | ||
| Sold LLC and New Owners defaulted on Unsecured Creditors | 1/28/2012 | Christine Janklow |
| Q: We had a business contract with Monitronics for three years sold the company with location that had ... A: Melissa: Thank you for your inquiry. Regardless of the vendor in question, typically when accounts ... | ||
| Am I protected under the FDCPA | 11/15/2011 | Jason Milleisen |
| Q: Ten years ago I started a business and opened up an AMEX business card under the FEIN with me as a ... A: If you personally guaranteed the debt, then you would be liable for the debt regardless of whether ... | ||
| Business credit cards | 11/14/2011 | Michelle Dunn |
| Q: I had a business that was established as a corporation. I received several applications for BUSINESS ... A: Robin, I would go back to that lawyer and have him write a letter as a response to the letters you ... | ||
| Business Debt | 11/2/2011 | Christine Janklow |
| Q: I can be held personally liable for a debt of my former employer? As an employee of a company that ... A: Trish: I appreciate the question, and regret that unfortunately this is a very common scenario. As ... | ||
| collecting debts from customers | 10/16/2011 | Michelle Dunn |
| Q: as the owner of a small corporation i do all the bookkeeping and am in a position now where i need ... A: Malinda, If you don't have any experience with bookkeeping I would start by taking any seminars, ... | ||
| How to collect a court ordered or arbitrated judgment | 10/13/2011 | Michelle Dunn |
| Q: How should a person best proceed to collect a six figure judgment won in Michigan, when the ... A: Roland, If you have a judgment and they have not made any payments or are not making payments, go ... | ||
| s corp closing | 8/31/2011 | Christine Janklow |
| Q: my business partner and i have just come out to each other that we want to go are own ways. we both ... A: Chad: Thank you for your question. I regret that your business did not fare well, however at least ... | ||
| SBA Loan personal guarantor | 7/22/2011 | Michael Fay |
| Q: I am part of an S Corporation in California that received a loan of $200K, and am one of the two ... A: Frank, The answer to the question about the personal guarantee is not one that really applies to the ... | ||
| Wachovia/Wells Fargo and business debt | 7/16/2011 | Jason Milleisen |
| Q: The point you made in your profile that there is little you haven't seen prompted me to write. You ... A: I have not worked for Wells Fargo, so I will answer your questions based on my own experiences. ... | ||
| personal guarantee | 6/12/2011 | Jason Milleisen |
| Q: My question is can a company hold a personal guarantee that was signed back in 1999 to another ... A: Kelly, Since the guarantee is a personal guarantee (as opposed to a corporate guarantee), I believe ... | ||
| personal guarantee | 6/9/2011 | Jason Milleisen |
| Q: My question is can a company hold a personal guarantee that was signed back in 1999 to another ... A: In order to determine whether the personal guarantee is valid, I'd first suggest reviewing a copy of ... | ||
| buying a business thats in debt? | 6/7/2011 | Jason Milleisen |
| Q: i looking to purchase an LLC medical company to be more clear a IDTF ( Independent diagnostic ... A: One way to avoid the debt is purchase the assets of the business, as opposed to purchasing the LLC, ... | ||
| Co-signer for a Business debt - Now in collections | 6/7/2011 | Christine Janklow |
| Q: I have co-signed for an equipment lease for a business owned by my friend. Along with me, the owner ... A: Hemanth: Sorry to hear of your situation. It should be incumbent on the prior owner to help in your ... | ||
| Debt of 800.00 to a Credit card processing company | 5/9/2011 | Jason Milleisen |
| Q: Can a debt collector report a corporation and it's officers to a credit reporting agency for a debt ... A: If the debt is owed by the corporation only, and the individuals who own the corporation did not ... | ||
| Outstanding debt owed by corporation | 5/9/2011 | Michael Fay |
| Q: Are the owners and the officers personally responsible for a debt incurred by the corp and can the ... A: James, The answer depends. You will need to check the terms of the contract under which the debt ... | ||
| small claims judgment for business | 4/21/2011 | Christine Janklow |
| Q: A Plaintiff named 5 individuals and 2 corporations in a small claims action. A default judgment was ... A: Laura: Thanks for the inquiry. I am not an attorney, therefore it is difficult for me to speculate ... | ||
| liability for negative balance corporate bank account | 4/20/2011 | Michelle Dunn |
| Q: Who is liable for a California corporate (now dissolved)bank account that went negative (ISF and ... A: Without seeing your paperwork, I can only go by what normally happens. It depends on how the ... | ||
| Can I transfer personal gyarantees to other partners | 4/13/2011 | Christine Janklow |
| Q: I am a partner in an S Corp that has decided to dissolve my interest in our company. We never ... A: Buddy: Thank you for your inquiry. Simply put, once personal guarantees are pledged by an ... | ||
| Unsecured Business Credit, no personal guarantee | 4/12/2011 | Christine Janklow |
| Q: I had an LLC in NH that failed. I have a couple unsecured credit lines/cards that I did not ... A: Kevin: Thanks for the question, however don't be so sure that a personal guarantee does not exist. ... | ||
| Wrong Party to Business Debt | 4/11/2011 | Jason Milleisen |
| Q: Milleisen, I currently own a small business in the state of California. I have been contacted by a ... A: While I cannot speak to the legality of specific debt collection practices in your state, I think ... | ||
| Sbarro Bankruptcy | 4/3/2011 | Christine Janklow |
| Q: I work at Sbarro, which is in line to file Chapter 11 most likely this week. The company has ... A: Mike: Thank you for the inquiry. Firstly, I regret that your organization has suffered economic ... | ||
| SBA negotiations | 3/31/2011 | Christine Janklow |
| Q: During our divorce my husband and I had to do a short sale on a commercial building that our ... A: Alice: Thank you for your question. The Treasury will want all assets pledged on the loan liquidated ... | ||
| Is an S Corp business line of credit repayment treated as an "Expense" (reduction of income) on the shareholder's personal tax returns? | 3/30/2011 | Christine Janklow |
| Q: My family owns an S Corp that incurred $125K loan (over the last couple yrs) in a business line of ... A: Randie: Thanks for the question. I am not a taxation expert, however if the loan was taken and ... | ||
| Offer in Compormise with SBA | 3/28/2011 | Jason Milleisen |
| Q: Thre are 3 partners that guaranteed a SBA loan. The bank is only interested in pursing the funds ... A: The SBA always wants to know where the funds for a settlement are coming from, so sharing the ... | ||
| Offer in Compormise with SBA | 3/24/2011 | Jason Milleisen |
| Q: Thre are 3 partners that guaranteed a SBA loan. The bank is only interested in pursing the funds ... A: With regards to the SBA OIC, the first point I'd make is that even though there are 3 partners, as ... | ||
| sba loan | 3/21/2011 | Christine Janklow |
| Q: I own a construction business and in 2007 we were very busy,the future looked great and we were ... A: Danny: Thank you for your question. I regret that your business did not fare well during this tough ... | ||
| Business debt with personal guarantee with partners | 3/17/2011 | Christine Janklow |
| Q: Background: - The 3 individuals co-founded a California LLC - A California C-Corp was founded in ... A: Arthur: Thank you for the inquiry. The scenario you have described is unfortunately all to ... | ||
| Starting a homebased collection agency in Louisiana | 3/8/2011 | Michelle Dunn |
| Q: I'm interested in starting a homebased collection agency in Louisiana. I am currently a part-time ... A: Shayla, I would check out the groups available online in regards to starting an agency, for ... | ||
| Small business credit card outstanding debt dispute | 3/1/2011 | Michelle Dunn |
| Q: My question is similar to one posed to Ms. Jenklow on 6/20/97, but it's a little more dicey. In ... A: Sally, When you say both accounts I am assuming you mean the bank account and the credit card ... | ||
| Collection of Past Due Account | 3/1/2011 | Michelle Dunn |
| Q: My husband is a small home-based business owner working in turf equipment repair. He operates this ... A: Rhonda, His first step is to find out why or what the reason is the customer is "refusing" to pay ... | ||
| Small business credit card outstanding debt dispute | 2/28/2011 | Michelle Dunn |
| Q: My question is similar to one posed to Ms. Jenklow on 6/20/97, but it's a little more dicey. In ... A: Sally, In order to be a co-guarantor, you would have signed an agreement to that effect. There is ... | ||
| BUSINESS DEBT WRITE OFF'S | 2/23/2011 | Christine Janklow |
| Q: Our company was billed for valid web hosting services and related professional fees from Feb 2008 ... A: From the details you described, the company (service provider) whom you owed money to has gone out ... | ||
| Daycare Threatening Collections | 2/23/2011 | Michelle Dunn |
| Q: My infant attended a daycare center where we encountered a behavioral issue with her head teacher. ... A: Carrie, If you have the contract or agreement that you originally signed with the day care check to ... | ||
| business collections | 2/17/2011 | Michelle Dunn |
| Q: Am I liable for any fees to a collection agency if I settled with a debtor recently. I spoke with ... A: Tina, It depends what the contract that you signed with the agency says. It can also depend on if ... | ||
| personal debt vs. business debt | 2/9/2011 | Michael Fay |
| Q: Can credit card companies that I personal owe freeze the account of my L.L.C.company AND TAKE THAT ... A: Allen, the same answers apply. LLC and INC are two different types of the same thing and the law ... | ||
| personal debt vs. business debt | 2/9/2011 | Michael Fay |
| Q: Can credit card companies that I personal owe freeze the account of my L.L.C.company AND TAKE THAT ... A: Allen, There is not enough information here to fully answer that question, because I don’t know how ... | ||
| who assumes the debt? | 2/2/2011 | Christine Janklow |
| Q: upgrades, old debts, etc). The hospital was then "taken" by the state b/c of the default. There are ... A: When you say the "State" has "taken" over the business entity, it is unclear if they did so to ... | ||
| Bankruptcy | 2/1/2011 | Christine Janklow |
| Q: We own a small business that is not Incorporated, and unfortunately may have file bankruptcy. We owe ... A: Vicki: Thank you for your inquiry. I regret that your business did not fair well and have caused you ... | ||
| SBA Loan | 1/31/2011 | Christine Janklow |
| Q: I ran a in home daycare facility when the storm came through it did lots od damage. I was forced to ... A: Christina; Thank you for your question. It is regrettable that you have been dealing with a ... | ||
Business Debt
Answers by Expert:
Christine Janklow
Top Expert on this page
Expertise
As President of SettleSource,Inc. a business debt settlement firm, I invite you to inquire about all aspects of business debt solutions to best determine which may be most appropriate. If you have questions such as: What is debt settlement and how process provide debt relief to my business? What options are available to deal with my business debts? Is it possible for a business owner to negotiate their own settlements? Why is debt settlement preferable to filing a bankruptcy or debt consolidation? Why are creditors willing to provide settlements to a business? How will settling debts affect credit scores? or How to rebuild a business after debt is eliminated. Please ask it now! For more information regarding how debt settlement can help your business, please visit www.SettleSource.com and place your inquiry. Mention All Experts to have a confidential no cost consultation with Christine. If this is your business situation time may play a very important factor in getting matters resolved proactively before they have negative affects on the business.
Experience
My expertise is specific to providing business solutions that will have profound positive impacts on the financial health of businesses. I have 25 years experience as an entrepreneur and have developed national sales programs; strategic alliances; product development; marketing programs; business and turnaround plans and debt settlement programs all providing methods to improve the financial outlook for large and small businesses. In the area of commercial debt settlement I have over 10 years experience working with large and medium corporations and closely held businesses to enable successful debt reduction and turnaround. I am a professional debt arbitrator and have negotiated with major banking institutions as well as vendors, suppliers and other trade creditors.
Organizations
Provisors;Turnaround Management Association; Los Angeles area
Publications
Accounting Today; Web CPA; National Restauarant Association;Los Angeles Daily News; Today Magazine Monthly series of business articles entitled "Brand News."
Education/Credentials
Bachelor of Business Administration; Associate of Arts Merchandising
Past/Present Clients
American Airlines, American Express, Safeway Inc., New York Life, consumer products manufacturers; retailers, food service industry and other small businesses and service providers.
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