| Subject | Date Asked |
|
| Business Debt Collection | 11/20/2009 |
Q: We are collecting on small amount - $480.00 in California on goods that were invoiced late, but ...
A: John-Paul: In response to your follow up, it is difficult for me to assess the merit of your claim ...
|
| Business Debt Collection | 11/20/2009 |
Q: We are collecting on small amount - $480.00 in California on goods that were invoiced late, but ...
A: John-Paul: Thank you for your question. This is a billing issue, and depending upon how recently ...
|
| LLC and Debt | 11/16/2009 |
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 ...
|
| Investment in LLC | 10/17/2009 |
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 |
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 |
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 ...
|
| Sole Propietor but did not personal gurantor credit debt. | 9/29/2009 |
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 |
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 |
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 ...
|
| Bank set off | 9/21/2009 |
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 |
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 ...
|
| Going through business buyout | 9/10/2009 |
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 ...
|
| old business credit card debt | 9/8/2009 |
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 ...
|
| personal quarantee | 8/27/2009 |
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 ...
|
| SBA loan forgiveness | 8/21/2009 |
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 |
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 |
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 |
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 |
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 ...
|
| company filed chapter 11 and i am the personal guarantor | 7/16/2009 |
Q: I live in Florida and my company had filed chapter 11 . and i am the personal guarantor on all ...
A: Danielle: Thank you for your inquiry. I regret that your business has been forced to reorganize. ...
|
| Business Debts | 6/23/2009 |
Q: I thought I had closed my NH business in 2007 when I indicated on every tax form I had that I was ...
A: I know little about the protocol or requirements for dissolving a corp in your state. However there ...
|
| LLC & Credit Card Debt Collection | 6/20/2009 |
Q: Ms. Janklow, again I want to thank you for your previous response to all of my questions. After ...
A: I appreciate your due diligence regarding your situation, but it seems a futile effort because ...
|
| Business Credit Card Debt | 6/17/2009 |
Q: I learned for the first time that my spouse, who has perfect credit thanks to my years of extreme ...
A: You are most welcome. As difficult as this situation is, it is also quite complex as to its ...
|
| Business Credit Card Debt | 6/16/2009 |
Q: I learned for the first time that my spouse, who has perfect credit thanks to my years of extreme ...
A: I truly regret that you have found yourselves subject to the affects of irresponsible decisions on ...
|
| business credit card debt/personal bankruptcy | 6/10/2009 |
Q: I have to close my business. All the assets are pledged as guarantee for the SBA loan. I have two ...
A: I regret that you find your business on the downturn due to encumbrances. If you have loans ...
|
| Business loan debt | 6/10/2009 |
Q: My business has failed. I have an SBA loan that is guaranteed with the real estate of the business ...
A: Colette: Thank you for your inquiry. The SBA loans that lien collateral are also guaranteed by the ...
|
| Business Debt | 6/7/2009 |
Q: What are the chances that banks and credit card companies are willing to negotiate my business debt? ...
A: Peter: Thanks for your question. The answer is yes banks will negotiate, but there is a specific and ...
|
| AmEx card in the name of LLC and my personal | 6/4/2009 |
Q: I got myself into a very hard situation. The company I worked for is closed now, and the owner has ...
A: Again, much of what is said is done so in an effort to "threaten" you into paying, or facing a ...
|
| AmEx card in the name of LLC and my personal | 6/2/2009 |
Q: I got myself into a very hard situation. The company I worked for is closed now, and the owner has ...
A: I regret that you find yourself in such a situation. There are a couple of things you can and should ...
|
| personnal bankrupcy and starting a new business | 6/2/2009 |
Q: My husband and I think of filing bankruptcy for our personal debt. We had gotten an EIN # for our ...
A: Marci: Thank you for your inquiry. If you are planning to start a new business, and have recently ...
|
| S-Corp Business Debt: how to tell if there is a personal guarantee? | 5/19/2009 |
Q: I am president and majority shareholder of an S-Corp (retail sales) that is failing. I have not ...
A: Melissa: Thank you for your inquiry. Your situation although complex is not uncommon. You claim to ...
|
| Being sued by US Bank as co-signer | 5/15/2009 |
Q: I had my corp enter into bankruptcy and the 3 corp debts were discharged in court. I am now being ...
A: Michael: The CC company probably has some form of verification, and no they don't need a physical ...
|
| Being sued by US Bank as co-signer | 5/15/2009 |
Q: I had my corp enter into bankruptcy and the 3 corp debts were discharged in court. I am now being ...
A: I regret that you find yourself still dealing with remnants from your corporate bankruptcy. If in ...
|
| business credit card | 5/13/2009 |
Q: I was layed off from my company after close to 30 years as the administrator. I had a credit card ...
A: Louann: Sorry to hear of your recent lay off. The card in question was a corporate debt and simply ...
|
| avoiding bankrupcy | 4/28/2009 |
Q: our company is in the construction business. we have lost 13 contracts in the last year to the ...
A: Bob: Thank you for your inquiry. I regret that you find yourself in a difficult financial situation. ...
|
| Business Credit card reporting and Personal credit | 4/21/2009 |
Q: If I signed a personal guarantee on a business credit card does the credit debt get reported to the ...
A: Charlotte: Thanks for your question. If you applied for a card on behalf of your business entity but ...
|
| Credit card debt to start a business | 4/16/2009 |
Q: we are an S-corp shareholder to a LLC franchise that we bough in 8/07. The company is now breaking ...
A: I understand your plight, and to the best of my knowledge there are no programs available for ...
|
| personal guarantee | 4/3/2009 |
Q: I was also a secretary of a company where I did several credit applications for vendors, I signed a ...
A: If you were only an employee of the corp and not an owner (or owners spouse where applicable in ...
|
| collection question | 4/2/2009 |
Q: if i am trying to collect from a business such as a llc, or inc. and they have closed their doors ...
A: Brent: Thank you for your inquiry. If the amount is substantial, it might be advisible for you to ...
|
| please help | 3/30/2009 |
Q: i was wondering if you could tell me I owe a medical bill of 10,000. or more for my daughter when ...
A: Paula: Thank you for your question. I regret that your daughter was ill, and compounding the issue ...
|
| SBA Colateral Modification(Secured) | 3/30/2009 |
Q: I have pledged colateral with my SBA loan(commercial land). Its total monthly debt service is ...
A: Robert: Thank you for your question. Yes, your matter seems complicated not only in the proper ...
|
| CAN WE DEDUCT INTEREST EXPENSE ON A BUSINESS LOAN FOR A BUSINESS THAT HAS DISSOLVED? | 3/29/2009 |
Q: I sure hope you can help me out here. My husband had a construction business (Sole Proprietor) for ...
A: Deborah: Thank you for your question. As I am not a tax professional, I can only comment regarding ...
|
| Biz Credit Card Not on My Report | 3/28/2009 |
Q: I have a business credit card for a business that I closed almost a year ago. It is an Advanta Visa ...
A: Bob: Thanks for your follow up. I make only this suggestion, that you call your creditors if you are ...
|
| Biz Credit Card Not on My Report | 3/24/2009 |
Q: I have a business credit card for a business that I closed almost a year ago. It is an Advanta Visa ...
A: Bob: Thanks for your question. It is possible that this creditor if defaulted upon will begin ...
|
| Vendors Sharing Debt Info | 3/23/2009 |
Q: My husband is a sole prop of a flooring store that we closed due to the economy. We sold what little ...
A: I regret that your business did not survive this tough economy. You are right to explore options ...
|
| amx corporate debt | 3/22/2009 |
Q: Now that AMX is offically a bank is the credit card agreement I signed with them 12 years ago valid? ...
A: Gary: Yes, it is ok for creditors to contact you within the hours of 8am to 9pm 7 days a week. They ...
|
| dissolution of s-corp and debts | 3/17/2009 |
Q: Good Evening, I am in the process of filing Chapter 13(personally) I do have an attorney. However, I ...
A: I regret that you have found yourself unable to meet your obligations due to circumstance. As I am ...
|
| Credit card company liability | 3/15/2009 |
Q: If a business or individual has used fraudulently obtained money to pay off credit card expenditure, ...
A: Wendy: Thank you for your inquiry. If I understood the basis of your question, you are asking if a ...
|
| amx corporate debt | 3/2/2009 |
Q: Now that AMX is offically a bank is the credit card agreement I signed with them 12 years ago valid? ...
A: Gary: To the best of my knowledge your agreement is likely still valid regardless of who now owns or ...
|
| amx corporate debt | 3/1/2009 |
Q: Now that AMX is offically a bank is the credit card agreement I signed with them 12 years ago valid? ...
A: Gary: Thank you for your question. The answer depends upon if you placed a personal guarantee on the ...
|
| Business Credit Card Liability | 2/24/2009 |
Q: My husband owns an LLC with a partner. The business has closed its doors, due to economy and my ...
A: I do regret that your husband is dealing with a difficult financial situation. To answer your ...
|
| purchase of a business in foreclosure with a portion of loan SBA | 2/24/2009 |
Q: WE are looking at purchasing a business that is in initial stages of foreclosure.Forty percent of ...
A: Based on my experience with SBA loans, a majority of them have some sort of guarantee AND collateral ...
|
| Collection from owner & company, or just guarantor? | 2/23/2009 |
Q: My mother opened up a credit card with my LLC (I am the owner) and spent $25,000 on it. She is not ...
A: Unfortunately, yes your company and you as an owner, could be liable for payment on this account. ...
|
| Personal Bankruptcy and LLC | 2/19/2009 |
Q: I am thinking of declaring personal bankruptcy and I own a LLC with unsecured debt in the business ...
A: Christi: Thank you for your inquiry. As I am not an attorney, I can not advise you regarding the ...
|
| filing personal bankruptcy & own a company | 2/18/2009 |
Q: I would like to know if it is in my best interest to change the name of my company. I am in the ...
A: Chavela: Thank you for your question. I am not a bankruptcy attorney and highly suggest you discuss ...
|
| Settling debt with original creditor | 2/11/2009 |
Q: I have an old debt that I have been paying on and off for the past 7 years. When my husband lost ...
A: Vanessa: Thank you for your inquiry. I am sorry that your husband lost his employment which has no ...
|
| dissolve a company | 2/10/2009 |
Q: I am going to dissolve my company. How I can close the company if somebody owes us money? If they do ...
A: Tatsiana: Thank you for your question. I strongly suggest that you speak with an attorney or a CPA ...
|
| Business dissolved: c/c debt , overdrawn checking, collection fraud | 2/3/2009 |
Q: My husband and father-in-law once owned their own business. They had a business credit card (under ...
A: I do regret that your husbands business did not fare well enough to address your concerns. The ...
|
| credit card guarantor | 1/30/2009 |
Q: I have read some of your answers re the liabilities of a credit card guarantor and found them very ...
A: According to the Fair Debt Collections Practices Act,(www.ftc.gov)a creditor must notify you in ...
|
| Can a collection agency report negative info on a personal credit report for a corporate account? | 1/28/2009 |
Q: Can a collection agency report negative information on a personal credit report for a corporate ...
A: Nick: Thank you for your question. I regret that you were unable to maintain a viable business ...
|
| Business Bankruptcy | 1/26/2009 |
Q: I am an owner of a business in california under a corp. We have owned the business for 2+ years now ...
A: I do regret you and your business have come upon hard times, and although it is no conselation, you ...
|
| business debt | 1/26/2009 |
Q: Can an existing LLC, operating a business, close down the LLC and start a new operating entity (a ...
A: Thomas: Thank you for your question.I have known other entities who have done this to try and ...
|
| Personal Guarentee on Business Debt | 1/21/2009 |
Q: Here's my situation. I run a computer consulting business. Nominally, I have it incorporated but as ...
A: Daniel: Thank you for your question. First let me begin by stating that I am not an attorney, and ...
|
| "S" Corp credit card debt | 1/15/2009 |
Q: There are 3 officer/shareholders in our company, and "S" Corp. formed 8 years ago. Business has ...
A: Based on the information you have provided, the answer is yes, your creditors can opt to report ...
|
| SBA loan and possible foreclosure? | 1/10/2009 |
Q: My husband took out an SBA loan in 1/08 to open a new business, which they secured with a mortgage ...
A: Amanda: Thank you for your inquiry. I do not know the collection procedures of SBA, but based on my ...
|
| SBA loan | 1/8/2009 |
Q: We own a business in south Louisiana and after four hurricanes in 3 years coupled with today's ...
A: Dale: Thank you for the question, and concerns regarding your situation. I believe the best course ...
|
| SBA defaulted loan where business is dissolved | 1/5/2009 |
Q: We renogiated with the bank after our business went under to try to pay off our SBA loan. The term ...
A: Kellie: Thank you for your question. The SBA loan is secured by equity (albeit worthless on their ...
|
| Buying a business with debt | 12/12/2008 |
Q: My husband & I are looking at buying a store that has a high debt. With research we have found out ...
A: April: Thank you for your inquiry. I appreciate that you have the ability to invest in this ...
|
| Closing Business | 11/24/2008 |
Q: I am the owner of a business that is incorporated in Georgia. I have already ceased all business ...
A: David: Thank you for your question. I regret your business did not fare well and you were forced to ...
|
| Corporate Credit Card Liability | 11/20/2008 |
Q: I was recently let go from my position as a Regional Sales Manager. I had been issued an AMEX card ...
A: Mike: Thank you for your inquiry. The issue of Authorized Users vs. Co-Signers is a ramped one, as ...
|
| Suing for personal loan | 11/19/2008 |
Q: He owes me $7,500. He has been collecting Calif Unemploymnent Insurance for almost a whole year now. ...
A: Rafael: Thank you for your question, however I am not an attorney and my area of expertise is not ...
|
| Partner wrote bad checks | 11/19/2008 |
Q: I am a member of a LLC and have a business partner. My partner wrote a $4400 check that bounced. The ...
A: James: Thank you for your inquiry. Your partner (you as an officer) or the company may be subject to ...
|
| Did not sign personal guarantee... | 11/14/2008 |
Q: I bought a vehicle about 4 years ago STRICTLY under my S-Corp. It was under the tax id number and I ...
A: Megan: Thank you for your inquiry. Based on the information you are claiming, it would appear as if ...
|
| How does personal bankrupcy affect my small business? | 11/12/2008 |
Q: Christine, I, like some,I was fortunate to buy a house in the early 90's and was able to triple my ...
A: Kevin: Thank you for your question. I am not an attorney and can not advise you on legal matters. ...
|
| Starting a Business after Bankruptcy | 11/7/2008 |
Q: I restarted a business after I had filed bankruptcy by putting the business in my girlfriends name. ...
A: Mark: Thank you for your inquiry. Given the limited information you have provided, I am making the ...
|
| Credit Card Debt | 11/6/2008 |
Q: My husband and I have incurred a huge amount of business and personal credit card debt. We have two ...
A: Jeannie: Thank you for your inquiry. I am asked often about business closure and am unable to give ...
|
| Dissolution of S Corporation | 11/5/2008 |
Q: My husband and his father have been the partners of a S Corporation for the last 25 years. I do the ...
A: Karen: Thank you for your question. I do regret that your business is not doing well in this poor ...
|
| Corporate Credit card | 11/4/2008 |
Q: Christine, I am formerly employed by Siemens (SBT). I was employed for approximately 1 year, ...
A: Warren: Thank you for your inquiry. Sorry you find yourself in this position at this time. As for ...
|
| Business debt for closing down an LLC | 10/28/2008 |
Q: Christine, My husband and I own 30% of an LLC business that is more than likely going to need to be ...
A: Lynn: Thank you for your inquiry. I regret that your business did not do well enough to justify its ...
|
| LLC Credit Card Debt | 10/27/2008 |
Q: I am very distraught with Advanta Business cards. As of a few months ago they raised my interest ...
A: Marianne: Thank you for your question. I feel your pain and frustration. Unfortunately, the credit ...
|
| CC Debt - 2 Corps - 1 failing bus affecting the other? | 10/23/2008 |
Q: I have one corporation that is solid, has been in business and always paid bills & cc payments on ...
A: Lisa: Thank you for your question. I regret that your second business is not faring well in this ...
|
| CLOSING SANDWICH STORE | 10/20/2008 |
Q: Christine, My plans for my retirement in the military has gone from bad to worst. I had a ...
A: Ed: Thank you for your inquiry, and thank you for serving our country. I do regret that your retired ...
|
| Company credit card | 10/16/2008 |
Q: I have read a couple of questions regarding "business" credit card debt. I was the executive ...
A: Roger: Thank you for your inquiry. You are not responsible, unless you yourself signed a personal ...
|
| Closing an incorporated business and impact on personal credit | 10/13/2008 |
Q: After seven years, I am force to close my residential construction business. (Not much of a ...
A: Pete: Thank you for your inquiry. I am sorry your business won't survive these difficult times. Made ...
|
| Dissolve an LLC with outstanding debt | 10/12/2008 |
Q: My partner and I took out a business loan for our LLC. We are both in agreement the company is ...
A: Joy: Thanks for your inquiry. I do regret that your business did not survive and you find the need ...
|
| Business debt | 10/9/2008 |
Q: Just wanted to know what are the things to expect while doing business debt settlement. Will a ...
A: Mike: Thank you for your inquiry. If you are hiring a company to do the negotiations on your behalf, ...
|
| business going under, how to settle debt, does it affect my personal credit? | 10/1/2008 |
Q: I opened a small Pilates (exercise) studio in the summer of 2006. I had a great 1.5 years, and the ...
A: Mickey: Thank you for your question. Like many small business owners you are between the proverbial ...
|
| Payment Plan | 9/29/2008 |
Q: I have a commercial lease that I am still tied up in for another seven months. I had to close up ...
A: J: Thank you for your question. I realize the difficulty of your situation. You have (it seems,) ...
|
| SBA Loan | 9/26/2008 |
Q: We have an SBA loan for our excavation company. We have some serious debt problems. We have been ...
A: Sherrie: Thank you for your inquiry. I have received many like this and have invested significant ...
|
| Guaranty | 8/29/2008 |
Q: In the years 2001-2003, I signed vendor credit applications for my employer in the role of ...
A: John: Thank you for your inquiry. As an employee of the organization, unless you are an officer of ...
|
| LLC Credit Card Debt | 8/27/2008 |
Q: I opened an LLC in DC almost two years ago. Due to the downturn in the real estate market, I have ...
A: David: Thank you for your inquiry. I regret that you have suffered a downturn in your business. As ...
|
| Cosigned a Student Loan which may default | 8/26/2008 |
Q: I was married in 2006, my then-husband under much manipulation and duress made me co-sign for a ...
A: I regret that you have been left with an unfortunate situation on you hands. Firstly, let me preface ...
|
| Business debt | 8/26/2008 |
Q: I have invested over $100k with a drycleaners that has done fairly well until recently. I am worried ...
A: CC: Thank you for your inquiry. As I don't know anything about your entity or situation other than ...
|
| LLC Credit Card Debt not Personally Guarantteed | 8/21/2008 |
Q: I have a Business credit card in my LLC name that for several reasons I have not paid in a year. ...
A: The assumption that one can simply walk away from a debt with no future liability or risk can only ...
|
| Furniture Rental | 8/20/2008 |
Q: I live in the state of Delaware. I have been threatened by Aarons furniture rental that they will ...
A: No matter what state you reside, you are under the protection of the Fair Debt Collections Practices ...
|
| applied for business credit card with personal signature | 8/5/2008 |
Q: I joined a company several years ago and applied on the company's behalf a capital one credit card. ...
A: Rina: Thank you for your inquiry. I regret that you have had the unfortunate displeasure of being on ...
|
| starting a new business after personal bankruptcy | 7/25/2008 |
Q: Can a person start a new business 2 years after filing for bankruptcy? Will it affect the business ...
A: Casey: Thank you for your inquiry. To the best of my knowledge you can apply for a business license ...
|
| LLC lawsuit | 7/13/2008 |
Q: My company is an LLC with two managers (husband and wife), we have been served with court docuement ...
A: I regret that you find yourself in a financial difficulty. I am familiar with Dex Media, as a vendor ...
|
| S Corporation dissolution and debt | 7/12/2008 |
Q: My husband and I are sole shareholders in an S-corp that has failed. We have some debt that is ...
A: Janice: Thank you for your inquiry. Please be advised that I can not offer any legal advice in ...
|
| Sole Proprietor Small Business Debt | 7/5/2008 |
Q: My husband and I opened a small drafting business a little over a year ago. We took out a small ...
A: Jenny: Thank you for your inquiry. I regret that your business did not fare well and has left you in ...
|
| another warrent in debt question | 7/4/2008 |
Q: I received a warrent in debt in the mail for 5,000.00 furniture bill I got in 2004 that started off ...
A: First of all, I strongly recommend you seek legal counsel as this matter has apparently already gone ...
|
| corporation sale | 6/24/2008 |
Q: My husband had auto repair shop & dealership under one company name (S corporation). He recently ...
A: Raisa: Thank you for your inquiry. The issues you present in your question appear to be more legal ...
|
| debt of LLc | 6/19/2008 |
Q: I am the sole member of an LLC. If I close the business, and do not pay all of my bills, can I be ...
A: Theresa: Thanks for your follow up. The attorney may have required you to sign a retainer agreement, ...
|
| debt of LLc | 6/18/2008 |
Q: I am the sole member of an LLC. If I close the business, and do not pay all of my bills, can I be ...
A: Theresa: Thank you for your inquiry. Based on the information you have provided, it is difficult to ...
|
| DISOLVING AN S-CORP | 6/17/2008 |
Q: We are a S corp of more than 15 years and the past 3 years poor management of the company has left ...
A: John: Thank you for your inquiry. Based on the information you have provided, it seems most of the ...
|
| Statute of Limitations on Presenting Invoice(s)? | 6/16/2008 |
Q: I have a small sole proprietor business in Colorado and long story short have a bunch of work that ...
A: Since you are considered the creditor, regardless of who is the debtor, you can utilize the ...
|
| Collecting on business debts | 6/11/2008 |
Q: Christine - I started a commercial appraisal business on 6/1/2004, a one-woman shop, and to get me ...
A: Jenise: Thank you for your question. You are correct about the statute of limitations in your state. ...
|
| Collecting debt from a business with a new owner | 6/4/2008 |
Q: I work for a nonprofit that has a small retail outlet that sells very specialized books and posters ...
A: Although I am not in the business of collections, rather that of arbitrating debts I can only ...
|
| Collection calls for a Business Credit Card | 6/3/2008 |
Q: My wife and I have a Business Credit Card that has been turned over to collections. At this time we ...
A: Derrick: Thank you for your inquiry. I will begin by cautioning that the slope you intend to climb ...
|
| Credit Card debt not mine | 5/21/2008 |
Q: I sold my business last year and the new owner stopped paying on one of the credit lines ...
A: Jay: Thank you for your question. Based on what you are describing, it seems although you may have ...
|
| can an employee of a corporation be held liable for a signed "personal guarantee" | 5/14/2008 |
Q: As an employee of my company -- I was the purchase manager -- I was required by the President and ...
A: Brendon: Thank you for your inquiry. As an employee of the organization, unless you are an officer ...
|
| Bank of America right of offset | 5/6/2008 |
Q: We have a business checking and also a joint personal checking account with Bank of America. Our ...
A: Debra: I appreciate the nature of your inquiry, as again this has no doubt caused you great concern. ...
|
| Dissolving an LLC with advertising debt | 5/6/2008 |
Q: We have never received any business inquiries or jobs from this advertising. there are about 6 ...
A: Shane: Thanks again for the follow up. As you are seeking direction, let me just say that there are ...
|
| Dissolving an LLC with advertising debt | 5/5/2008 |
Q: We have never received any business inquiries or jobs from this advertising. there are about 6 ...
A: Shane: Thank you for your inquiry. Your situation is quite common and likely resolvable. I ...
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| Bank of America right of offset | 5/4/2008 |
Q: We have a business checking and also a joint personal checking account with Bank of America. Our ...
A: Debra: Thank you for your inquiry. I regret the situation you find yourselves in as it has no doubt ...
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| debt collecton summons | 4/28/2008 |
Q: I started a home based business about 3 years ago. The busness was healthcare. I lived n the house ...
A: Shirley: As I am not an attorney it is difficult to suggest how best to address this summons.You ...
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| debt collecton summons | 4/28/2008 |
Q: I started a home based business about 3 years ago. The busness was healthcare. I lived n the house ...
A: Shirley: Thank you for your inquiry. I regret that you are in such a complex situation. Based on the ...
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| Collection on Corporate Credit | 4/28/2008 |
Q: Janklow, I wish to know can a third party collection agency place a collection on one's personal ...
A: Victoria: Thank you for your inquiry. The answer based on the information you provided would most ...
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| business debt | 4/23/2008 |
Q: I had to close my bookkeeping service (sole prop)due to lack of funds. However I still owe close to ...
A: Nancy: My pleasure to answer your follow up. I don't know what state you reside, but in states that ...
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| business debt | 4/23/2008 |
Q: I had to close my bookkeeping service (sole prop)due to lack of funds. However I still owe close to ...
A: Nancy: Thank you for your inquiry. I regret that your business did not fare well and was forced to ...
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| Closed LLC credit cards | 4/13/2008 |
Q: I have an LLC that i disolved last year. I have a credit card in the LLC's name that was charged ...
A: Alan: Thank you for your question. In all likelihood, you have personally guaranteed this debt. The ...
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| verbal CC agreements | 3/28/2008 |
Q: I have one last issue and that is in regards to 2 business credit card debts (company has ...
A: Jay: Thank you for your question, albeit a loaded one. Your first question addressed the issue of ...
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| Business Credit Card Debt | 3/26/2008 |
Q: In 2004, our California business was started with 4 principles; I was one of the four. I was ...
A: Andy: Thank you for your question. It is regrettable that your account "fell through the cracks" and ...
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| S-Corp Debt | 3/21/2008 |
Q: I had a S-Corp that went out of business in July 2007. I have a phone directories company after a ...
A: Cam: Thank you for your question. As for the type of business that you have closed, I don't know if ...
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| debt | 3/20/2008 |
Q: My fiance has a busines and his mobil gas card is delinquent and in defalt so the APR is now 29.99 ...
A: Joi: Thank you for your question. Your concerns are real, considering the costs related to the ...
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| S-Corp, credit card debt and personal responsibility | 3/14/2008 |
Q: My husand and I were owners of a small S-Corp that went out of business. All assets were taken by ...
A: Brenda: Thank you for your question. I have known companies such as Amex and Capital One to claim ...
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| Off Set Debt | 3/14/2008 |
Q: My company ran out of moneyassets, closed and stopped paying credit card debts. The BOA card was ...
A: I regret the inconvenience this event has caused you. Based on the information you have provided, ...
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| business debt | 3/4/2008 |
Q: i lost my business due to city of new York street work around me, i have no job and have both ...
A: Bill: Thank you for your question. I regret that your business was forced to close. In regards to ...
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| "Downtown Partnership" | 3/3/2008 |
Q: I run a small videography business Last summer a member of my city council had hired me to do ...
A: I truly regret that you find yourself in a compromised position regarding collection for monies ...
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| Collection Agency | 2/29/2008 |
Q: Can a collection agency harass a business? DOes a business have rights, when it comes to a ...
A: Judy: Once again, I regret that you have felt threatened by this collection agency. As for if your ...
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| Collection Agency | 2/28/2008 |
Q: Can a collection agency harass a business? DOes a business have rights, when it comes to a ...
A: Judy: Thank you for your inquiry. To address the issue of collection calls, if a debt is owed and is ...
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| billing time limitations | 2/20/2008 |
Q: Is it true that if a customer is not billed for a product or service after 6 months that they don't ...
A: Laurie: Thank you for your inquiry. I am not an expert in the field of collections, but know that it ...
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| utility debt of a closed company | 2/12/2008 |
Q: In 2005 I opened a business in Michigan as an INC.After 2 years I had to close it due to economical ...
A: I regret that your business was forced into closure and that you are still resolving its related ...
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| amex debt collection | 2/3/2008 |
Q: How is it legal for amex to ruin my credit by posting a collection on my credit for a credit card ...
A: Sharon: Thank you for your inquiry. I regret the situation and distress this has caused you. Without ...
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| a court judgement against a dissolved company | 2/2/2008 |
Q: I am a real estate sale person and sponsored by a broker(one owner)company. After several ...
A: Richard: Thank you for your inquiry. It is a regrettable situation that you have addressed and as I ...
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| DBA debt | 1/15/2008 |
Q: In the summer of 2007 I closed the doors on a small business I ran for 4 years. I was filed as a ...
A: I regret that your business did not fare well and you are left still feeling the effects of the ...
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| Former business director not very frugal | 1/14/2008 |
Q: My husband was voted in as the new director of a small non-profit religious org. The business is in ...
A: I regret that this unfortunate breach of trust and identity has occurred. Based on the information ...
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| Debt and bankruptcy related to an LLC | 1/14/2008 |
Q: My partner and I have an LLC, but due to low sales are no longer able to pay our bills. We have an ...
A: Janice: Thank you for your inquiry. I regret that your business has not fared well. You have ...
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| LLC, Corp debt, divorce | 1/13/2008 |
Q: Don't know who to ask. Husband owns a business, is Incorporated. 26 years. Bought a building with ...
A: Victoria: Thank you for your inquiry. I regret the situation you find yourself in and want to offer ...
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| American Express and dba | 1/8/2008 |
Q: My husband has a dba small business. A year 1/2 ago we took a $10,000 loss which left us unable to ...
A: BP: Again, per my experience American Express and their usual list of collectors will settle debts. ...
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| American Express and dba | 1/8/2008 |
Q: My husband has a dba small business. A year 1/2 ago we took a $10,000 loss which left us unable to ...
A: Since your accounts seem to be in collections, it is likely unless already placed in a legal queue ...
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| 3 Year Lease | 1/7/2008 |
Q: My partner & I signed a three year retail lease in NJ. We have been in the space 5 months with no ...
A: Without the benefit of having examined your lease, it is difficult to make a recommendation on how ...
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| Settlement | 1/4/2008 |
Q: I was half owner of a small company that has since closed. We had a $50,000 line of credit that had ...
A: Richard: Thank you for your inquiry. I regret that your business did not fare well, and moreover ...
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| Commercial Lease Termination | 1/3/2008 |
Q: We have signed a lease for a retail location in mall which ends July, 2008. The lease is under the ...
A: Ed: Thank you for your inquiry. Without the benefit of examining your lease agreement, it is ...
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| HELP!!! | 12/22/2007 |
Q: Christine, I am a partner in a CA LLC. We have a SBA loan for the business we started. the ...
A: Traci: Thanks for your patience. I have done some checking around for alternatives for you. I spoke ...
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| HELP!!! | 12/21/2007 |
Q: Christine, I am a partner in a CA LLC. We have a SBA loan for the business we started. the ...
A: Traci: Thank you for your inquiry. This is a complex situation, and I would like to do a little ...
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| LLC | 12/13/2007 |
Q: Hi Christine i am thinking about opening and LLC construction company in florida one of my members ...
A: Josh: Thank you for your inquiry. Unless you have in any way co-borrowed or co-signed, listed the ...
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| personal bankruptcy and business credit cards | 12/10/2007 |
Q: Our business is a LLC in California. We incurred business and personal credit card debt remodeling ...
A: I regret that you have encountered financial hardship in your business. It seems you have a mixed ...
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| business loan problem | 12/9/2007 |
Q: I have a lot of background on this issue but I guess the bottom line question is... We (my husband ...
A: Brittney: Thank you for your inquiry. I regret that you have encountered this financial hardship. ...
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| BUSINESS | 12/7/2007 |
Q: WHAT IS THE MEANING OF FOCUS GROUP AND WHAT IS THE SIGNIFICANCE OF FOCUS GROUP IN BUSINESS?
A: Although it does not pertain to the topic of business debt (my expertise.) I do know something on ...
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| company credit card | 11/7/2007 |
Q: i am finance secretary of a church. the former pastor left the church i work at and with him a ...
A: Cindi: Thank you for your inquiry. I regret that you and your organization have been jeopardized and ...
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| assumption of business debt | 11/6/2007 |
Q: My mom took over a small restaurant business earlier this year and have been managing it with a ...
A: Yuna: Thank you for your inquiry. While I appreciate you mothers position and desire to respond, I ...
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| Business Debt Settlement | 11/5/2007 |
Q: Our business currently has approximately $70k in debt with which we are not able to keep up, lately. ...
A: Lauran: Both Vermont and Delaware are states that we can provide service to. Please review our ...
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| Business Debt Settlement | 11/5/2007 |
Q: Our business currently has approximately $70k in debt with which we are not able to keep up, lately. ...
A: I regret that you are in such a difficult situation. Yes, it is very possible that your debt can be ...
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| LLC Collections | 11/5/2007 |
Q: I own an LLC that owes about $30,000 total to two different credit card companies. Our business has ...
A: I appreciate the severity of your situation and will try to provide as much advise as I can ...
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| business debt resolution | 11/5/2007 |
Q: Due to hardship incurred by a failed restaurant and maintaining my current one through city changes ...
A: I regret that your business did not survive and that you are left with such overwhelming issues. ...
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| Dealing with company debt with company dissolution | 10/31/2007 |
Q: I started a business with my brother in 2003 (C corporation), a startup to launch a new product. ...
A: As it seems quite loaded I will attempt to answer portions that relate to debt liability only. As ...
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| trying to salvage my credit | 10/30/2007 |
Q: I was involved in an LLC about a year ago. I was considered a partner, however, no paperwork had ...
A: Josh: I do appreciate the follow up, and want to state that every situation is different and ...
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| trying to salvage my credit | 10/29/2007 |
Q: I was involved in an LLC about a year ago. I was considered a partner, however, no paperwork had ...
A: This is an unfortunate occurrence but should be handled immediately to avoid and accumulate ...
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| Corporate Debt Responsibility | 10/22/2007 |
Q: "In 2004 I started an S-Corp. My personal credit was in the low to mid 500's so I could not get an ...
A: Tim: Thanks for your follow up question. Unfortunately there is no simple answer. You have to do ...
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| Corporate Debt Responsibility | 10/19/2007 |
Q: "In 2004 I started an S-Corp. My personal credit was in the low to mid 500's so I could not get an ...
A: Tim: Thank you for your inquiry. I regret the grief all these events seemingly have caused you and ...
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| owning a llc company | 10/8/2007 |
Q: my husband owns a LLC co.Being married my name is not on the company. Am i still responsible for ...
A: It would appear that you have no role in your husbands company, unless of course he has placed you ...
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| debt owed by me | 9/23/2007 |
Q: I have been in business for 1 year with my business partner. the business is not thriving, and my ...
A: I regret that your business is not fairing well, leaving you with debt issues to resolve. Your ...
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| debt | 9/20/2007 |
Q: Christine Janklow. Before I consult with local counselor I'd like to get advice from you. I'm ...
A: If these firms or debt collectors are not leaving you specific information as to the nature of their ...
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| Biz Credit | 9/7/2007 |
Q: how can a person with a low fico score that owns a business establish business credit?
A: Laura: Thank you for your inquiry. Establishing credit for a business depends on several factors ...
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| Follow Up on Credit Card LLC Issue | 8/28/2007 |
Q: Christine, I am writing this follow up question, which relates to a question I asked you about two ...
A: Gil: Thank you for your follow up question. I regret that the events that have apparently transpired ...
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| LLC and personal credit | 8/14/2007 |
Q: I'm thinking of starting an LLC Investment group with some friends, I was told that we can us our ...
A: Peters: Thank you for your question. First allow me to suggest that if you have not already done so, ...
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| Business owes my business money | 7/14/2007 |
Q: I have a small, home based embroidery business. I found a screen printing company that was willing ...
A: Debbie: Thank you for your question. It is a regrettable situation, but one that occurs often when ...
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| Credit Card says I am co-guarantor, but I never signed anything | 6/20/2007 |
Q: I opennd an LLC with a partner 2 years ago. During that time, my partner applied for a company ...
A: Green: Thank you for your inquiry. Your situation is quite common but no less unfortunate than an ...
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| Corporate debt | 6/19/2007 |
Q: Five or so years ago my brother and I had a company that is now no longer in business. At some ...
A: Lori: Thank you for your question. I do understand the complexity of your situation, but do not have ...
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| Commerical Debt Counseling | 6/14/2007 |
Q: My business had $150,000 in business debt and the market put a squeeze on the accounts receivable. ...
A: Sherry: Thank you for your detailed inquiry. Your situation is regrettable, but one I am ...
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| Business debt to be paid | 6/11/2007 |
Q: A business partner owes money to my company, we have a signed contract and emails confirming the ...
A: It appears as if you have done all you can to work something out with your business associates. ...
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| Business debt to be paid | 6/11/2007 |
Q: A business partner owes money to my company, we have a signed contract and emails confirming the ...
A: This is a matter that extends beyond the financial aspect of your arrangement. Let's put it this ...
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| My LLC | 6/7/2007 |
Q: This is my fourth year in business. I now have a state and federal tax debt of 100,000. I do have a ...
A: John: I truly appreciate your inquiry. The details of your tax situation are a bit vague, and I can ...
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| Business debt | 5/12/2007 |
Q: I have about 5000 I own one company and they said that i cant pay it in small amounts because i do ...
A: Robbie: Thank you for your question. I appreciate the pressure you may be experiencing in dealing ...
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| Liability to authorized users on biz credit cards | 5/2/2007 |
Q: former Ventura resident here. I am a New York business owner suffering through the mortgage crisis. ...
A: Barbara: Thank you for your question and concern for others apparently involved in your situation. ...
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| Unfair collection practices? | 4/13/2007 |
Q: Janklow, I started my business a few years ago and have recently ran into some problems with some ...
A: Kathryn: Thank you for your inquiry. No doubt a difficult situation for you and your business. I ...
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| Business Credit Card liability | 4/6/2007 |
Q: I received a call today from a collection agency on a business credit card of which I did not ...
A: Shawn: Thank you for your kind comments. Your follow up question is good to however, this is where ...
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| Quick Question | 3/15/2007 |
Q: Who regulates the Credit Card Industry other than the FTC? Any help would be appreciated. ...
A: Tyler: Thank you for your inquiry. As far as I know there are two main bodies that govern the credit ...
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| Time limit on collecting a business debt | 1/31/2007 |
Q: A good friend of mine has some old invoices to collect on from customers that are almost 3 yrs old. ...
A: Tia: Thank you for taking time to ask such an important question on behalf of your friend, she is ...
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| Solution to cash flow problems | 1/16/2007 |
Q: I started my manufacturing business 10 years ago on a promise of large orders from a customer that I ...
A: LeRoy: Thank you for your question. It is an important one, and an experience that many business ...
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| Debt free free first? | 1/11/2007 |
Q: I have a question regarding debt management versus productivity. Here's a little background: My ...
A: Michael: First of all, thank you for your inquiry. Your father is very fortunate to have a son as ...
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| business llc credit - personal credit | 12/11/2006 |
Q: If I have an llc and I have a truck in the llc name, will it hurt my credit score if I lose the ...
A: Brooke: Thank you for your inquiry. If you have not purchased or leased your truck through a ...
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| Business Debt | 11/13/2006 |
Q: I started a business in 2003, at this time my business is no longer, and I accumulated 7,000 in ...
A: It seems as if you have already attempted to contact your creditors to lower interest rates. I would ...
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