AboutChristine Janklow 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.
Organizations Turnaround Management Association; Los Angeles area
Publications 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 and service providers.
Question QUESTION: Can a collection agency harass a business? DOes a business have rights, when it comes to a collection agaency making threats? If so what can I do. I have amessage that I saved from a collection that threatened to blow me away again.
Help!!!
Judy Cooper
ANSWER: Judy:
Thank you for your inquiry. To address the issue of collection calls, if a debt is owed and is late or not being paid a creditor has the right to attempt to collect the debt. If the debt is owed by you (as in you personally guaranteed the debt) than the liability will befall not only your business but you as guarantor. Debts in this status are protected by particular collection laws that relate to consumers under the Fair Debt Collections Practices Act. The law is clear regarding what is allowable to collect a debt and what is not. Please see the attached link for a brochure on the subject. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
If the debt is owed by a business entity, such as an LLC, Corporation or Partnership, than these "rules" in most cases would not apply. In my experience, collections efforts and particularly threats made by collectors are just that, threats. They are a tactic commonly used to create a response or call to action, usually to come up with monies to cure the past due or satisfy the entire balance. If you respond because the debt is legitimately owed by your business, than you had better have a plan (and money)in place to address repayment.
If you are having difficulty paying your debts you can contact the creditors to express what your situation is and to see if an arrangement can be made to extend payment or reduce interest. Document any payment arrangements in writing. If your efforts prove unsuccessful, you can engage a professional business debt mediation firm to do this on your behalf- (I do represent such a firm, see my bio for more information). The collectors only goal is to recoup the monies owed - period. If they can make you more responsive to their pleas by twisting your arm, than they have proved effective at their jobs. The reality is you may have a legitimate reason why debts can not be paid in a timely manner. Some assistance to get a plan in place may be what is necessary to end this cycle productively.
The best way to deal with this is to tell the truth, express your willingness to do something to resolve it but make sure you can really commit to anything you arrange - otherwise all bets are off and the sequence of collections efforts will be stepped up and further jeopardize your financial well being.
If you found this advise helpful, than please take a moment to provide a rating and some feedback, so others may benefit as well.
Respectfully,
Christine Janklow
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QUESTION: I was an Independent Travel Agent. I who worked from my home for an agency in Florida. I was able to call the agency what I wanted to. The credit card had My agancices name on it, but it was in my name and SSN. I have had laywers to tell me that it willnot qualify as a consumer debt. I had an agency that I wanted to use to combine my debts and they said since it was in my name and SSN that it could fall under that. Can a collection agency threaten me in saying "MAY WE BLOW YOU AWAY AGAIN" I took that as a threat. I do have the phone call recorded, because it was on my voice mail.
Thank you
Judy Cooper
Answer Judy:
Once again, I regret that you have felt threatened by this collection agency. As for if your rights were truly violated, I can not determine. Please review the attached link for another brochure that may help to determine this.http://www.consumerjusticegroup.org/docs/fdc.pdf
If you truly feel threatened you should contact your State Attorney General Office. It may be necessary to file a violation of the FDCPA, if it is determined that they have crossed that boundary. There are many attorneys that would be able to file suit on this as well, if you can determine whether or not a violation has occurred. As stated earlier, you seem to have focused on the tactics by which these collectors choose to communicate their efforts, but moreover what are you going to do about resolving the debt that is owed? The collections effort will continue with them or someone else (even a law firm) if you don't address the matter of what is owed. Based on the information you provided, you are very likely to be a guarantor on this debt and will need to get it repaid in one form or another. If you have a genuine dispute about your financial liability to the debt, than you must request a verification of debt in writing to the creditor. Again any communications should be documented and mailed certified/return receipt. Seek some legal advise to ensure you understand your obligation to repay this or not.
