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Business Debt/Questions Answered by Expert Christine Janklow
| Subject | Date Asked |
| Sold LLC and New Owners defaulted on Unsecured Creditors | 2/1/2012 |
| 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 |
| 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 ... | |
| Business Debt | 11/2/2011 |
| 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 ... | |
| s corp closing | 8/31/2011 |
| 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 ... | |
| Co-signer for a Business debt - Now in collections | 6/7/2011 |
| 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 ... | |
| small claims judgment for business | 4/21/2011 |
| 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 ... | |
| Can I transfer personal gyarantees to other partners | 4/13/2011 |
| 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 |
| 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. ... | |
| Sbarro Bankruptcy | 4/3/2011 |
| 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 |
| 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 |
| 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 ... | |
| sba loan | 3/21/2011 |
| 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 |
| 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 ... | |
| BUSINESS DEBT WRITE OFF'S | 2/23/2011 |
| 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 ... | |
| who assumes the debt? | 2/2/2011 |
| 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 |
| 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 |
| 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 ... | |
| Single Member LLC Dissolution and outstanding SBA loan debt | 1/30/2011 |
| Q: I am a single member LLC, which I use for my freelance production work. I filed for a Chapter 7 ... A: Mike: Thank you for your question. Your situation is common and needs professional advice. I am able ... | |
| debt | 1/26/2011 |
| Q: Im beginning a merge with two other companies to become one new company. My one new partner has a ... A: Your partners previous liabilities will not affect your new business unless you intend to utilize ... | |
| Personal Guarantee Question as employee | 1/11/2011 |
| Q: I was laid off from a contracting firm in CA approximately 5 months ago. I have been aware that the ... A: Tara: Thank you for your inquiry. It is unfortunate that you have been subject to the fallout of a ... | |
| Should I file Bankruptcy before opening a buisness | 11/22/2010 |
| Q: my name is Nicole, My question is should I file Bankruptcy before I open my business? I had a ... A: Nicole: Again, it is highly advisable that you seek counsel with regard to timing of your financial ... | |
| Should I file Bankruptcy before opening a buisness | 11/22/2010 |
| Q: my name is Nicole, My question is should I file Bankruptcy before I open my business? I had a ... A: Nicole: Thank you for your inquiry. Let me first preface this answer by indicating that I am not an ... | |
| recurring notice of fee and late fee in dispute | 11/6/2010 |
| Q: After several months of no service, no repair, and no follow through to calls, we cancelled our ... A: Pam: Thank you for your inquiry. You did not state if you had signed a term contract with the ... | |
| Dissolution & Debt | 11/1/2010 |
| Q: In June 2010 I incorporated a company in the state of PA. I am currently in the process of ... A: Anna: Thank you for your inquiry. As I am not an attorney this is not to be considered legal advice. ... | |
| corp debt personal guarantee - no longer with company | 10/28/2010 |
| Q: I have a question. I worked for an insurance company that is an S corp. Last year my corporate ... A: Tara: Thank you for the inquiry. As you have stated, you have personal property in possession that ... | |
| Responsibility of Electric Bill of dissolved S Corp | 10/25/2010 |
| Q: I am in desparate need of clarification of the unfortunate situation I am in. I had a business 4/09 ... A: Karen: Thank you for your inquiry. When you say you dissolved the S Corp. I assume you mean you ... | |
| S-corporation debt | 10/19/2010 |
| Q: I was involved as vice -president in a past family business of an S-corp with my father and was in ... A: Peter: Thank you for your question. This is a most unfortunate yet typical circumstance. First, ... | |
| Business debt collection | 10/4/2010 |
| Q: I and a partner closed our 50/50 shared TX business last year. I have now been contacted by a ... A: Appreciate the inquiry. If the debt were paid then it would not likely have been passed onto ... | |
| Am I personal guaranteed on SBA loan modification | 9/30/2010 |
| Q: My business partner and I both signed a personal guarantee an SBA Loan for our LLC. We signed the ... A: Alexis: Thank you for your inquiry. I would make no assumption that your personal guarantee has been ... | |
| Delinquent Commericial Personal Property taxes | 9/9/2010 |
| Q: I had a business that failed and unforunately, due to financial and physical hardships, never got ... A: Although tax is not my area of expertise, if you are dealing with state tax owed, or any other debt ... | |
| Closing S Corp | 9/9/2010 |
| Q: 3 years ago, our newly formed S Corporation purchased merchandise for resale. A note of $30,000 was ... A: Peggy: Thanks for the inquiry. Sorry your business did not fare well. Based on your comments it ... | |
| LLC Debt | 8/31/2010 |
| Q: I am in the process of dissolving My LLC after my advertising DBA failed. I have outstanding debt to ... A: Jason: Thank you for your inquiry. Sorry your business venture did not fare well. Without benefit of ... | |
| SBA Loans exceed assets for Single Member LLC | 7/11/2010 |
| Q: I am a single member of LLC (TRUCKING COMPANY). I owe about $45,000 in 3 SBA commercial loans. Each ... A: Viola: Thank you for your question. A majority of banks who issue SBA are obligated to exercise ... | |
| Personal Guarantee | 7/8/2010 |
| Q: I signed a personal guaranty on behalf of the President of the corporation to a credit card terminal ... A: Gail: Thank you for your inquiry. I assume based on your comments that you were an employee and not ... | |
| debt collectors harrassment | 7/2/2010 |
| Q: I just got a new cell phone and these people keep telling me to contact them about debt. I'm not ... A: Briana: You are likely to be on someones call list. Ask who they are attempting to reach, then tell ... | |
| LLC in Fl. | 6/18/2010 |
| Q: If the LLC was disolved thru the state and certificate odf disulution sent and someone a year later ... A: This is not my area of expertise, however if you have documentation to the fact, I believe there ... | |
| SBA foreclosure rules | 6/4/2010 |
| Q: ..i am wondering if the typical SBA loan that was used to purchase a building and begin a business ... A: Unfortunately your situation is not so simple. You probably have placed a personal guarantee on the ... | |
| Company debt | 6/2/2010 |
| Q: I manage a small business with four full time employees. I want to buy the business, it is a LLC, ... A: Charles: Thank you for the question. If you are buying the business, you will not automatically ... | |
| Business Debt | 5/27/2010 |
| Q: I closed down an incorporated business instead of declaring it bankrupt due to the economic ... A: Claudia: Thank you for your inquiry. I noticed you contacted us from Canada, and am not familiar ... | |
| LLC credit card debt | 5/23/2010 |
| Q: My CA LLC failed and I have 2 business credit cards(Chase and Juniper) that I owe about $45k. I just ... A: I regret that your business did not fair well. If you have not already discussed renewal of the ... | |
| BUSINESS DEBT | 5/19/2010 |
| Q: If a business is incorporated and has outstanding debt, already sent to collections, and now ... A: Samantha: You are most welcome. Let me state this simply - you can run but you cannot hide. If you ... | |
| BUSINESS DEBT | 5/18/2010 |
| Q: If a business is incorporated and has outstanding debt, already sent to collections, and now ... A: Samantha: Appreciate the inquiry. Depending on the type of business debt it is, and whether or not ... | |
| Credit Card debt | 5/16/2010 |
| Q: I have a business credit card in my name and on the card it has the business name.(The corportation ... A: What you have in relation to your business card is a personal guarantee. If you are falling behind ... | |
| SBA loan workout (offer in compromise) | 5/13/2010 |
| Q: My current situation is that I have just started escrow with a short sale that I am doing on my two ... A: If you default on payment due to short sale, the second lender will likely be reimbursed up to 75% ... | |
| Business Closing | 4/13/2010 |
| Q: Our single member LLC is closing down We have no debt We do however have vendors with which we have ... A: Benjamin: Appreciate your inquiry. Yes, it is best you notify them of your company status and that ... | |
| SBA Line of Credit | 4/6/2010 |
| Q: I had a small LLC business which recently closed. I owe quite a bit on my SBA line of credit through ... A: Julie: As previously stated, you are getting a lot of information, some which could be very ... | |
| SBA Line of Credit | 4/5/2010 |
| Q: I had a small LLC business which recently closed. I owe quite a bit on my SBA line of credit through ... A: Julie: Thank you for the inquiry. Based on the information you provided, I can suggest that if the ... | |
| how do I handle this debt collector | 3/31/2010 |
| Q: My husband is a sole proprietor. 9 days ago I received a phone call at home from a collection ... A: This appears to be an unfortunate situation and perhaps erroneous. You are being collected upon for ... | |
| Furniture Repossession | 3/20/2010 |
| Q: Furniture in Georgia, they are calling me still today because of the fact they came and picked up ... A: Sara: Thank you for your inquiry. You did not mention if the store you purchased from provided ... | |
| sba default / lien / foreclosure | 3/19/2010 |
| Q: guess the subject tells the tale. took out sba loan in 2005; business failed and our main client ... A: Michele: Thank you for your question. With the information you provided, in general it seems ... | |
| Personal Guarantee on Business LOC | 3/10/2010 |
| Q: Like a lot of us out here we are in the financial battle for our business life. We have had a 60% ... A: Mark: Thank you for your question. I understand your dilemma and assure that your situation is quite ... | |
| Liability for fraudulent use by someone else | 3/4/2010 |
| Q: My wife was the ExDir of a 3 person non-profit. They received a small grant from Amex in 2004 and ... A: Frank: Thank you for your question. First of all, your wife is or was an employee of a not for ... | |
| sba loan foreclosure | 2/28/2010 |
| Q: i have an sba loan for which a portfolio of stocks was pledged as collateral. the business has been ... A: Sorry to hear that your business was unable to be maintained. As for the SBA loan, there are too ... | |
| LLC Business Machine Lease Default | 2/25/2010 |
| Q: In 2008, I was the 100% member of a Colorado LLC. The company was no longer profitable and had to ... A: Kristi: Thank you for your question. I do understand the nature of your concerns. It appears that ... | |
| LLC loan assumption | 2/18/2010 |
| Q: Christine: I have a Delaware LLC with a separate tax ID #. The LLC formally assumed a real estate ... A: Depending on the type of loan, if it is residential real estate for instance the lender may assume ... | |
| business debt | 2/5/2010 |
| Q: I owed a business with my ex-husband who in December 2009 defaulted on a business credit card ... A: It is unfortunate that you have encountered issues with old debt, however based on what you have ... | |
| Right of Offset | 1/7/2010 |
| Q: I have two sets of accounts that I have opened with Bank of America previously. Firstly, I have my ... A: Erik: Thank you for your question, sounds as if a banking error has occurred. Normally unless you ... | |
| Corp. Debt after a business closes | 12/30/2009 |
| Q: My husband has a construction business. The economic state has hit us hard also. Currently we are ... A: Samantha: Thank you for your question. Your situation is far too common these days and based on what ... | |
| Business Credit Card in default | 12/15/2009 |
| Q: When I was married I was on a joint business checking account with my husband. There was a credit ... A: Patricia: Thank you for your inquiry. As you do not specify which state you reside in, as it is ... | |
| Dissolve corp with debts | 11/30/2009 |
| Q: In NY I have a 6mth old corp that i was going to use but didn't(no income) although I did get a a ... A: Robert: Thank you for your inquiry. Based on your description of your scenario, it would seem the ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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, ... | |
| 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 ... | |
| "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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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, ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| 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 ... | |
| 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 ... | |
| 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 ... | |
| 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. ... | |
| Unfair collection practices? | 4/13/2007 |
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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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