| Subject | Date Asked |
|
| Debt Placement | 11/19/2009 |
Q: I am woman in the process of starting my own home based collection agency. I have been in debt ...
A: Jim, I am not sure if you are asking where you can buy debt or if you are going to work on a ...
|
| Client won't pay | 11/16/2009 |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, If you have a signed letter of agreement and they did not respond to your demand letter, I ...
|
| breach of contract | 11/11/2009 |
Q: Our company has a signed contract with a customer. Special ordered materials were purchased and ...
A: Deborah, If you have a signed contract that provides for the customer being responsible for any ...
|
| software | 11/2/2009 |
Q: I am looking at "EZCollector" and "Collect" software, which would you recommend for a new agency?
A: I have never used EZCollector, but I have used Collect! When I started my agency I purchased ...
|
| LLC | 10/24/2009 |
Q: My friend had a business that was an LLC. Her partner got a credit card without her knowledge and ...
A: Debbie, If she had a partner but was an LLC and not a partnership, she must have had some type of ...
|
| Client won't pay | 10/23/2009 |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, If you have a signed letter of agreement or a signed contract, you would take her to ...
|
| Client won't pay | 10/23/2009 |
Q: I have a client who paid me half the fee in a timely way. But the second half, $5,000, is now ...
A: Jennifer, Go to the post office and get one of the red, white and blue priority mail flat rate ...
|
| RE; | 10/20/2009 |
Q: Can a Creditor (fortune 500 corporation) after 5 years notify a debtor (small corporation) that a ...
A: Sharon, It depends on the type of debt and the state the debt is in or where the debt was incurred. ...
|
| Collection Salary | 10/5/2009 |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: I only have a couple of part time collectors now because of the explosion on the consulting/training ...
|
| Collection Salary | 10/1/2009 |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: That depends on many things. Are you experienced in first party collections and looking to be a ...
|
| Collection Salary | 9/30/2009 |
Q: What would be the average yearly salary of a collector who has been in the banking and credit union ...
A: Lucille, That depends on many things. Are you experienced in first party collections and looking to ...
|
| home based collection company | 9/27/2009 |
Q: I am starting a home based collection company,and i need to buy some good debt collection paper. ...
A: As a home based or outside office based agency, if you are going to buy debt be sure you are ...
|
| collecting debit | 9/22/2009 |
Q: i am a photographer and recently did a campaign for a client. i invoiced the client and the client ...
A: John, Your rights depends on a few things, do you have a signed contract or agreement? What does the ...
|
| Training | 9/15/2009 |
Q: I have been a cash application manager for 8 years. I am looking to broaden my qualifications as I ...
A: Lisa, Due to the recession many people are taking advantage of online training to save on travel ...
|
| business debt collection | 9/14/2009 |
Q: I am a small proprietor that has recently closed my store front and run my business from my home to ...
A: Karen, If you are really unable to pay what they are asking, the judge will look at your finances ...
|
| Business debt | 9/4/2009 |
Q: Since 1995 my husband & I own a small company. Around 2007 we aquired alot of debt through our ...
A: Mysti, If you are paying COD for purchases while you pay down a past due balance, it is very ...
|
| personal guarantee | 8/27/2009 |
Q: I know that was very stupid of me, I personally guarnateed loans for my business. Now I can't make ...
A: Anna, If you personally guarantee any type of loan you are personally responsible. What happens ...
|
| credit repair | 8/25/2009 |
Q: did you or do you have a credit repair book for sale?
A: Yes, I have a Fix your Credit special report that gives you the steps to take in order to fix your ...
|
| RE; CAN A DEBT COLLECTION AGENCY COME AFTER ME PERSONALLY AFTER MY COMPANY HAS CLOSED? | 8/1/2009 |
Q: I had a 40% stake in a S corporation incorporated in Virginia, recently my business had to shut due ...
A: Rena, If anyone has a court order against you they can attach property, bank accounts or any other ...
|
| corporate v. personal debt | 7/28/2009 |
Q: My husband and I each own 50% of the shares in a medical corporation. He is no longer working, yet ...
A: Sheri, Any debts he signed for personally, he could be responsible personally. When the company let ...
|
| Cant pay or wont pay | 7/18/2009 |
Q: I'm a collector for my countries tax department (... I hear some boos coming! lol). I've been a ...
A: Richard, The best way of differentiating between the "can't" pay and the "won't" pay debtors is to ...
|
| Money Owing | 7/18/2009 |
Q: I have started a home cleaning business about 3 months ago and have a client who has not paid me ...
A: Jacqueline, Did you have this customer sign a contract, agreement or a credit application? I would ...
|
| bills owed, fees for late payment | 6/29/2009 |
Q: I have a client who does not pay on time. He will go on extended vacations and not send payment. I ...
A: Debbie, It is different in each state, check with your local bank or state offices to see what the ...
|
| bills owed, fees for late payment | 6/26/2009 |
Q: I have a client who does not pay on time. He will go on extended vacations and not send payment. I ...
A: To legally charge interest or any late fees you must let the customer know about those charges or ...
|
| Collections | 6/14/2009 |
Q: Mrs Dunn,my name is Charles i have been in the collections field for about 20 years or so.I stated ...
A: I had saved $10,000.00 before I started my agency and I kept my day job for 6 months. I also had an ...
|
| Michelle, question. | 6/12/2009 |
Q: Michelle, we are getting ready to roll out a B2B collection agency (BizCollections.com) and if you ...
A: Michael, Yes, I offer consulting on starting an agency. You can check out my fees at ...
|
| business credit card - personal liability | 6/10/2009 |
Q: Myself and two relatives started a retail business in 2005. We incorporated the business from the ...
A: Wendy, Look at the paperwork you all filled out and signed when you opened the card. Did any of ...
|
| Collection Software | 6/10/2009 |
Q: Can you suggest/recommend any good collection software I can look into for the collection services I ...
A: Sheila, Check out the collection software I have listed on my resources page, it gives you a ...
|
| Confession of Judgment | 6/8/2009 |
Q: Confession of Judgment I have a few business clients that I have provided consulting services to ...
A: Steven, 1. You don't need them to but if they signed a contract as a business entity, you cannot go ...
|
| Debt of LLC | 6/8/2009 |
Q: We have a LLC company that due to the economy has been suffering severely. We fell behind on our ...
A: LB, If you owe the money, you would have to pay the balance for the debt go "go away". If you ...
|
| collection services | 5/28/2009 |
Q: I already owned a small medical billing business and want to add collection services to my business. ...
A: Sheila, Start researching everything you can about starting a collection agency, read books, trade ...
|
| home based collection agency | 5/6/2009 |
Q: However, when I called the 3 major credit bureaus about opening an account to report delinquent ...
A: If your home based collection agency is at your kitchen table you will not be able to set up an ...
|
| reporting to credit bureaus | 4/28/2009 |
Q: I am a new collection agency and was wondering what steps I need to take to be able to report to the ...
A: I did start and run my agency from home. You don't want to "get around" this you want to make sure ...
|
| reporting to credit bureaus | 4/20/2009 |
Q: I am a new collection agency and was wondering what steps I need to take to be able to report to the ...
A: If you don't have my book, you can just visit the 3 credit bureaus websites and apply to become a ...
|
| collection fees to debtor | 4/15/2009 |
Q: I have a client who is asking if they can add my collection fee to the debtor's past due balance. ...
A: Nicole, If the collection fees was expressly provided for in the signed contract with the debtor ...
|
| 1099 Contractor Debt | 4/14/2009 |
Q: First of all, I am a Petroleum Landman, considered a 1099 Contractor, and have a contract with a ...
A: Kevin, When you say you agreed to a 10 month payout, did they also agree? Was it in writing with ...
|
| personal guarantee | 4/6/2009 |
Q: I was a secretary of a family owned company in Michigan where I did several credit applications for ...
A: Ann, When you sign a personal guarantee, you are personally guaranteeing that if a company cannot ...
|
| Advanta Credit Card | 4/4/2009 |
Q: I have an Advanta Business Credit Card and have only been able to pay $200.00 of the $700.00 per ...
A: Any creditor that you owe money to can accept payment arrangements or lesser payment amounts but ...
|
| Collection of Business Debts | 4/2/2009 |
Q: I have several questions... 1) If a business creditor comes after me personally (LLC - sole member) ...
A: If you signed a personal guarantee and the business defaults you would be personally responsible for ...
|
| Collection of Business Debts | 4/2/2009 |
Q: I have several questions... 1) If a business creditor comes after me personally (LLC - sole ...
A: Terri, 1. No, unless you used your personal credit when applying for the credit line that created ...
|
| business debt | 4/1/2009 |
Q: Can unsecured business credit card debt be reported and placed on my personal credit history? ...
A: Barbara, If you are the principal or owner of the corporation this could be on your personal credit. ...
|
| Company card debt applied to personal wages | 3/31/2009 |
Q: My husband works for a very large multinational company. his dept is based in "North America." his ...
A: Alitia, Since the card is a business credit card and not in your husbands name he would not be ...
|
| business debt | 3/31/2009 |
Q: Can unsecured business credit card debt be reported and placed on my personal credit history?
A: Barbara, It depends on the formation of your business, was it an LLC, Corporation or maybe a sole ...
|
| who is responsible? | 3/28/2009 |
Q: It has been over a year now that my husband entered into a business deal where he took control of a ...
A: Yes, if the card is in your name or the business name that you purchased, you are responsible. In ...
|
| Purchasing Debt?? | 3/26/2009 |
Q: I am looking at starting a collection agency in a small town in ND, and I am looking at purchasing ...
A: The sellers I have talked to are all advising against purchasing debt at this time, but you can look ...
|
| business debt | 3/24/2009 |
Q: My husband died last year and before he died, turned the business over to me (a sole ...
A: Since you were married and the business was legally left to you, you would now be responsible for ...
|
| Finding Current Address for Old Debt | 3/24/2009 |
Q: A customer left the state (SD), leaving a $2500 auto repair bill. We're not sure where he went. Do ...
A: Maria, Check your credit application for any information such as a job that you can call for ...
|
| Business Debt | 3/15/2009 |
Q: We and my husband owned a business and closed in 2003. A credit card account with American Express ...
A: Sandra. Look at the contract and paperwork you signed when you signed the application with them. In ...
|
| out of state collections | 3/10/2009 |
Q: I have a small graphic design business and have been in business for many years. I have a client ...
A: Roger, I would contact an agency in MD to work the account for you. Most agencies are licensed to ...
|
| AR outsourcing | 3/10/2009 |
Q: I am a new collection agency and I wanted to include AR outsourcing as a service I offer. After ...
A: Nicole, When I offered A/R Outsourcing I wasn't able to find many companies that did it either. i ...
|
| Co-sign on business? | 3/10/2009 |
Q: my in laws have co signed on thier son's business and it's just been losing money for 2 long years. ...
A: Dan, When you co-sign you are signing to guarantee payment if the person signing cannot make the ...
|
| CPA invoice | 3/6/2009 |
Q: My wife and I owed a business where we used a CPA. The business ultimately closed. Several years ...
A: Before the account is placed for collections I would try to resolve it and come u with a settlement ...
|
| collection on small business | 3/3/2009 |
Q: I own a small business that is incorporated. Due to the economy I got behind on an advertising bill ...
A: Tia, If the amount they are asking for is 3x the amount you owe, request verification or proof of ...
|
| Collection from owner & company, or just guarantor? | 2/26/2009 |
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: Stephanie, If your mother was a managing member of the LLC and personally guaranteed the debt, the ...
|
| 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: Unless your mother was listed as an authorized agent in your LLC she would not have been able to ...
|
| corporate business card debt | 2/23/2009 |
Q: We are a corporation that has a business credit card debt. We are in the process of closing because ...
A: Kate, Your first course of action would be to pull your paperwork on this account, find out if it ...
|
| Collecting past due from a buisness which is now out of business | 2/20/2009 |
Q: I am currently attempting to collect a past dept from a company who has just closed up. I currently ...
A: Brian, You can take the account back from the collection agency and depending on the type of ...
|
| Debt collection | 2/15/2009 |
Q: Can an debt collecting attorney sue a debtor before notifying the debtor verbally or in writing ...
A: This would depend on the state and those state laws, but if they are sueing on behalf of a creditor ...
|
| need answer | 2/9/2009 |
Q: i am working in collection agency for resurgent capital services ........ and i am findin.so, ...
A: Jagjit, If a consumer is filing bankruptcy, ask them for the lawyers name and phone number and ...
|
| debt | 2/3/2009 |
Q: I am worried about losing my job as most people these days. If so, I will not be able to pay credit ...
A: James, The only way any creditor can attach your assets, such as bank accounts (any, wages, or put ...
|
| Business Debt | 2/3/2009 |
Q: I am thinking of dissolving my "C" corporation, but it still has outstanding debt (credit cards). I ...
A: A, No matter how you dissolve, go out of business, close your doors or otherwise, you are ...
|
| Defunct Florida LLC being dissolved and non guaranteed debt | 2/2/2009 |
Q: First of all G-d bless you for all your invaluable time, knowledge and advice. Simple questions I ...
A: Paul, When you say non-guaranteed, do you mean unauthorized bill? Did anyone set up an account with ...
|
| Lein | 1/28/2009 |
Q: Your question was First of all thank you for your help. I had a business in Massachusetts which was ...
A: George, When you sign a personal guarantee you are committing to paying for a business expense ...
|
| Debt Purchased by Arrow Financial | 1/24/2009 |
Q: I have an old credit card debt that was bought by Arrow Financial Services. I have a few questions ...
A: Kristin, 1. The date opened can be the date the account was started or the date the original ...
|
| Credit Cards | 1/16/2009 |
Q: Is it better for your credit score when you pay off a credit card and do not want to use it, to ...
A: It is better for your credit score if you pay off the account and then voluntarily close the ...
|
| Small Business Credit Cards & Authorized Users | 1/15/2009 |
Q: very much appreciated. I have a small business credit card with a $46,000 limit, and recently ...
A: 1. Anyone who does credit reporting does not need a SS# to report. Just a name, birth date, ...
|
| collections | 1/13/2009 |
Q: i would like to know is there a statute of limitations, on credit card collections, for the state of ...
A: Stuart, Statute of limitations in Ca : Open account reduced to writing (Credit card contract) 4 ...
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| no contract debt collection | 1/8/2009 |
Q: I did some remodeling work for a residential home owner in Utah and I gave the customer a bill but ...
A: Your first step might be to try to work with the customer to find out if there is anything you can ...
|
| no contract debt collection | 1/8/2009 |
Q: I did some remodeling work for a residential home owner in Utah and I gave the customer a bill but ...
A: James, Did you have any written agreement BEFORE any work was done? If so, you can use that as well ...
|
| out of state check | 12/30/2008 |
Q: I own a small business and sell online. A customer sent me a check, received her merchandise, then ...
A: Lisa, You can place the account with a collection agency or take her to small claims court depending ...
|
| statute of limitations on old business debt | 12/30/2008 |
Q: Is there a statute of limitations on "business debt" in the state of Utah?
A: Cindy, Each state has its own laws on debts including business debts. the statute of limitations ...
|
| SBA Loan settled, now in collections | 12/23/2008 |
Q: About a year ago I settled a SBA loan through the "Offer and Compromise" which released my personal ...
A: Since you have provided paperwork and sent a cease & desist which they are ignoring, (illegal) give ...
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| SBA Loan settled, now in collections | 12/18/2008 |
Q: About a year ago I settled a SBA loan through the "Offer and Compromise" which released my personal ...
A: All you have to do is send them the paperwork showing you settled the loan and the release of the ...
|
| collecting at a dentist office | 12/11/2008 |
Q: I an am office manager at a dentist office and we currently do not have an agency, we had one before ...
A: Jennifer, You can have your own in house collectors that would collect on behalf of the dental ...
|
| collection agency marketing | 12/4/2008 |
Q: Michelle, I am starting up a new collection agency, targeting consumer debt(retailers, medical, ...
A: When I had my agency I collected mostly consumer debt, right now you should n have any problems ...
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| collection agency marketing | 12/2/2008 |
Q: Michelle, I am starting up a new collection agency, targeting consumer debt(retailers, medical, ...
A: Randy, Right now with businesses everywhere looking for collection agencies, this should be an easy ...
|
| 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, If he claims your debt in his bankruptcy, you would not be able to do that. You might want ...
|
| repo vs late pays | 11/17/2008 |
Q: my former wife is running 60 to 90 days late on her vehicle and she really can not afford it. Is she ...
A: Chris, When you have a vehicle repossessed, that does not stop the payments. Many people think if ...
|
| collection agency recommendations or sources | 11/17/2008 |
Q: I own a small membership based service business. Approximately 10% of my member accounts are in ...
A: Jessie, If you have an account with any or all of the 3 credit bureaus, you can report your own ...
|
| Negotiating a judgment lien settlement | 11/16/2008 |
Q: Dunn -- We have a judgment lien on our home (for an unsecured debt) that is eight years old. The ...
A: Julia, I would highly recommend you visit an attorney for a free consultation or visit the ...
|
| Default | 11/15/2008 |
Q: I sold my business in 11/07 and got a substantial amount down, however we financed the rest for an ...
A: Ed, I had this exact same thing happen to me. Go back to the closing attorney and make sure you have ...
|
| collection agency recommendations or sources | 11/13/2008 |
Q: I own a small membership based service business. Approximately 10% of my member accounts are in ...
A: Jessie, I have a map of collection agencies that are members of my Credit & Collections Association ...
|
| Gave a supplier a $12000 deposit, did not deliver goods | 11/10/2008 |
Q: On march of this year, we gave a purchase order to a supplier that we have dealt with in the past. ...
A: Ricki, Since you have placed the account with a collection agency, first talk to them and find out ...
|
| Personal guarantee of business debt | 11/7/2008 |
Q: I applied for a business credit card at a former place of employment about 9 years ago. The card ...
A: Marla, If you signed a Personal Guarantee you would be liable for the debt that is covered by that ...
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| business credit card debt | 11/6/2008 |
Q: In california I was president of a corporation and signed a guarantee of payment. the company closed ...
A: Carl, If you signed a Personal Guarantee you would be liable for the debt that is covered by that ...
|
| Credit Dispute question | 11/5/2008 |
Q: If i dispute debts on my credit report that are like 5 to 6 years old, can they be readded for ...
A: If the debt is valid, you can pay and ut will not be deleted, it will just show paid in full. It ...
|
| Business Debt?? | 11/3/2008 |
Q: 000 on credit cards and we have no assets but the business equipment is in our name personally and ...
A: You can close a business while you have debt but you will have to continue to make the payments on ...
|
| Past due Debt | 11/1/2008 |
Q: I charge my clients a 2% monthly late fee on past due amount after every 30 days. My office is in ...
A: Billy, Check with your states Attorney General for the maximum you can charge in your state, also ...
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| LLC: Personal Liability for Business Credit Card Debt | 10/30/2008 |
Q: My business, sadly, is failing and I am becoming increasingly concerned with the liability of my ...
A: Normally if you agree to a settlement and the credit card company agrees to a settlement, it would ...
|
| Old Debt | 10/27/2008 |
Q: I have and old debt that a collection agency tried to collect. The creditor wrote off this account ...
A: Ruth, It sounds as though there may be a judgment already? If you did not show up to court, the ...
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| average collection rate | 10/26/2008 |
Q: Michelle, I've been researching the option of starting a collection agency. I believe I've read it ...
A: Chris, That depends on so many factors such as what types of debts you are trying to collect, what ...
|
| LLC: Personal Liability for Business Credit Card Debt | 10/25/2008 |
Q: My business, sadly, is failing and I am becoming increasingly concerned with the liability of my ...
A: Dee, Yes, you would be liable if the cards are in your name or in your business name with you as the ...
|
| .:: BILL COLLECTION ::. | 10/22/2008 |
Q: After read some of your posts and researching on the internet i felt that you are the right person ...
A: Santosh, I would do some research on Foresight Debts Collections Inc. for example, check them out at ...
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| Judgement | 10/21/2008 |
Q: I have a "Civil Judgement" against me by FCNB/Spiegel. It's still on file, will not be deposed until ...
A: Susan, The only way they will stop trying to collect on this debt is if you have paid it or do pay ...
|
| Collecting $$ owed before a business goes bankrupt | 10/18/2008 |
Q: I am an independent contractor and I perform long-term projects at financial institutions with a ...
A: Send a demand letter that is very detailed and send that by USPS Priority Mail with delivery ...
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| Collecting $$ owed before a business goes bankrupt | 10/16/2008 |
Q: I am an independent contractor and I perform long-term projects at financial institutions with a ...
A: Jo, Since they claim to have paid you, call and ask them for the check number, amount of the check, ...
|
| Used car dealership owes my business for services. | 10/16/2008 |
Q: I run a mobil locksmith business from my home in Colorado. A local used car dealership requested my ...
A: If you hire a collections attorney or a collection agency, the only way you can add the fees to the ...
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| investing in debt and collecting from home | 10/14/2008 |
Q: michelle i read and respect your experience. and would love to have some of your insight. i have a ...
A: Dan, right now is a very bad time to purchase debt and try to collect on it. The people I know that ...
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| Dealing with Collectors for a business dabt | 10/13/2008 |
Q: I work for a small company who signed a contract with a telephone servie provider that went under. ...
A: Kathy, The owner will have to deal with them rather than you. 1. The only thing you can do is send ...
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| business credit card debt | 10/13/2008 |
Q: I had a business for several years. Business was slowing down so I opened a similar but different ...
A: Sean, The credit card companies won't transfer the cards, until the debt is paid off. The debt is ...
|
| buy debt | 10/6/2008 |
Q: Good Evening I have recently bought a couple of your books and i really enjoy the infomation i have ...
A: Joe, Right now is a bad time to purchase debt. The company I normally refer people to contacted me ...
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| I want to know? | 9/30/2008 |
Q: LLC and the one thing I'm having problems with is preparing a script to say to debtors when calling ...
A: Rachel, If you have sent them a demand letter before your first call outlining the mini-miranda, you ...
|
| concerning business being sued | 9/28/2008 |
Q: my wife sued a auto garage that did some work,they intern did damage to get more money out of us.We ...
A: You will have to find out if when the business was sold, did the debts get sold with the business. ...
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| collecting in other states | 9/25/2008 |
Q: Is it required to be licensed and/or bonded to collect across state lines? I am in Washington ...
A: Yes, it is required by federal and state law to be licensed in the states you are collecting in. ...
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| start up cost | 9/12/2008 |
Q: I am thinking about starting up a collection agency. What is the start up cost? I have an office ...
A: I have some resources that will help you. http://www.credit-and-collections.com/startup-tips.html ...
|
| Collected Past Due Accounts | 9/9/2008 |
Q: They are generally not very large (200-1000) but we are unsure of the best course of action for ...
A: Depending on what your terms are, I would make a phone call when the account becomes past due, ...
|
| My right to collect a debt as a business owner | 9/9/2008 |
Q: I am a small cleaning company. My fiance and I were in this company together but we have now gone ...
A: If you are trying to collect from a customer you must have a paper trail. Provide the customer with ...
|
| Business Debt | 9/4/2008 |
Q: I am in business with 2 other relatives. If one of the other relatives has credit card debt taken ...
A: Wayne, Yes, any debt that includes the business name would be the responsibility of the business. If ...
|
| EIN and business credit | 9/2/2008 |
Q: My husband recently obtained an EIN number for his business. Although now that we have things ...
A: Valerie, Most Entrepreneurs or new small business owners don’t realize that their personal credit is ...
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| being sued by a bankrupt company | 8/29/2008 |
Q: I just received a letter to appear in court for a delinquent credit card bill. The bill was for a ...
A: Ann, When you go to court bring your documentation that supports that your company went out of ...
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| opening up my collection agency out of my home | 8/26/2008 |
Q: Michelle thank you so very much for taking the time to help me try to reactivate my collection ...
A: Terry, You can either purchase debt or work on a commission, which ever you would rather do and ...
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| Business debt | 8/26/2008 |
Q: I have invested almost $100k on a dry cleaning business with my partner. Now, the business is not ...
A: You may want to consult with an attorney. Is the business a corporation, LLC or S corp or some other ...
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| LLC credit card debt | 8/25/2008 |
Q: My husband has a single member llc in Michigan. We are closing down the business and have $25,000 ...
A: Amy, Though I am not an expert on LLC's this is what I do know. Being an LLC does offer some ...
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| Guarantor for business debt | 8/14/2008 |
Q: I happen to be a guarantor on a business loan that my company took out (outstanding balance is about ...
A: Ron, You should find your signed copy of the guarantor agreement and visit an attorney in your ...
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| payment of debts | 8/11/2008 |
Q: My company is a small llc that does concrete foundations. we used a hispanic in March to finish some ...
A: I would highly suggest you have a consultation with an attorney, most are free for a consultation. ...
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| Scared to death | 8/10/2008 |
Q: I have been toying with the idea of being a debt collector here in California for a couple of years. ...
A: This question is asked frequently on my forum, and I know there are companies that offer this ...
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| Collection reference material | 8/8/2008 |
Q: Michelle- I am the director of a large cardiology practice with a huge number of accounts receivable ...
A: Gregg, Check with these companies, though I am not sure if you have to be a collection agency or PI ...
|
| applied for business credit card with personal signature | 8/6/2008 |
Q: I've got into a situation like this. I joined a company several years ago and applied on the ...
A: If you can prove the charges were made by the other party without your knowledge or consent you may ...
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| Seizure of rental furniture | 7/30/2008 |
Q: Since collection agencies do not follow FDPCA guidelines when it comes to commercial collections. ...
A: Natalie, Not all collection agencies violate the FDCPA. Yes, third party collectors must adhere to ...
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| commercial collection activity | 7/29/2008 |
Q: I rented office furniture for my corporation that never launched. Furniture company hired a ...
A: Nathalie, You should look at your lease and/or contract and also visit an attorney and bring your ...
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| help me open up my own collection agency out of my own home | 7/25/2008 |
Q: MICHELE YOU HAVE BEEN A BLESSING TO COME IN TO MY LIFE TODAY. I've had my collection agency sitting ...
A: Teresa, To buy blocks of debt check out Charge Off Clearing house at ...
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| Marketing Debt Collection Agencies | 7/23/2008 |
Q: I am a student doing a summer consulting internship at University of Glasgow. I am working on ...
A: Susana, Yes, networking is extremely important in this industry along with all the other marketing ...
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| getting rid of the debt!!!! | 6/20/2008 |
Q: I own a small landscaping business and have some debt I would like to get rid of in order to ...
A: Are these business credit cards in your business name that you want to continue to use or do you ...
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| owed money | 6/12/2008 |
Q: i have a window treatment business, around 2 weeks ago i delivered and installed window treatments ...
A: Sal, I would call her and tell her you will be stopping by the residence where you delivered the ...
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| my corporations debt | 6/11/2008 |
Q: Michelle, i own 50% of the stock in a real estate title company. i have a company that i ordered ...
A: Rick, Is your company, the one that billed them, a sole proprietorship or an LLC or some other ...
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| Collecting debt on a business that has since changed owners | 6/4/2008 |
Q: I work for a small nonprofit that also has a small retail arm. In the past couple of years one of ...
A: Stacey, Ask the new owners if when they purchased the business, did they purchase the accounts ...
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| Question | 5/24/2008 |
Q: Am I liable if my husband took over the company? It was an s-corp. Initially i owned the company ...
A: Vanessa, Even though your name is no longer on the cards, since you are his spouse, the creditor and ...
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| Midland Collection Manegment | 5/16/2008 |
Q: MCM has contacted me regarding a debt that they have purchased from AT&T about my father Jerry ...
A: Jason, You can file a complaint with your Attorney Generals office and also with the Federal Trade ...
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| Professional Question? | 5/12/2008 |
Q: I am a debt collector for a world wide company. I am trying to locate who and where I can get ...
A: If you are a member of the American Collectors Association or your company is, call ACA and ask them ...
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| collection | 5/10/2008 |
Q: An attorney contacted me to collect on a year old past due amount. I told them that I would ...
A: Sean, Most companies or creditors will not talk with you once they have placed the account with an ...
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| Personal judgement affect on LLC | 5/8/2008 |
Q: I have purchased a business and signed a franchise agreement 2 years ago (for a real estate ...
A: Depending on the terms and conditions of your contracts you might be responsible, but I would check ...
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| Credit Stats | 4/27/2008 |
Q: I wasn't sure where else to ask a question related to credit problems, but I was wondering what ...
A: The job market directly affects how credit cards are used and how they are paid. In my opinion, the ...
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| personal guarantee's | 4/25/2008 |
Q: i did sign personal guarantee's for many co. i have since been struggling. i signed about 6 years ...
A: Mike, You can call the companies and tell them your situation, offer them a settlement payment of ...
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| Credit Stats | 4/23/2008 |
Q: I wasn't sure where else to ask a question related to credit problems, but I was wondering what ...
A: Exactly right. Everyone is feeling the affects except maybe for the very wealthy. Students that are ...
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| Corporate credit card | 4/20/2008 |
Q: I had an Am Ex corporate card. My company was extremely slow in paying and I was turned over for ...
A: Was your name on the card? Did you sign anything when they gave you the card? If you applied for the ...
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| Personal Guarantee | 4/17/2008 |
Q: I started as a Controller with a company back in 2005. The company had just been purchased and I was ...
A: It sounds like a co-sign type of credit extension. If the owner who also signed with you is not ...
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| skiptracing | 4/15/2008 |
Q: I have tried a couple of sites for skip tracing that you recommended in your books but i am still ...
A: Sometimes you have to skip trace in more depth or longer on some accounts and you will not find ...
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| Buying uncollectables | 4/12/2008 |
Q: I just ordered your book ("How to Start a Collection Agency") from Amazon. My question might be ...
A: Dan, thanks so much for buying my book!! It sounds as though you are more interested in Judgment ...
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| Corporate credit card | 4/12/2008 |
Q: I recently had to file for personal bankruptcy. American Express was a creditor I filed against. I ...
A: Will, If you filed against American Express, you must have had an account with them or the claim ...
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| credit bureaus | 4/11/2008 |
Q: i have a collections agency and i would like to know how to file people with the 3 credit bureaus.
A: Doris, You would need to decide which credit bureau you would like to be a member of or if you want ...
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| Starting a in house collectionAgency | 3/27/2008 |
Q: Our ambulance service is looking at the possibility of starting a in-house collection agency for our ...
A: If your starting an "in-house collection agency" you would treat it as any other debt collection ...
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| help | 3/19/2008 |
Q: i have a few if thats ok? first can you dissolve a s corp while still owing debt? and then just in ...
A: That depends on the type of debt, I would check with an attorney and bring all the documentation to ...
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| Debt incurred as sole proprietorship, collector coming after new s-corp. Good or bad for me? | 3/11/2008 |
Q: I have a company that is about 3 years old. I started as a sole proprietorship and incorporated as ...
A: Keith, It is my understanding that since these debts were incurred when you were a sole proprietor, ...
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| Starting a collection agency | 3/5/2008 |
Q: I would like to know if I join as a member or purchase your products, will I have access to ...
A: Silvia, There are some free agreements and a free e-book about starting an agency you can find at ...
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| money owed to my business by a ny nursing home | 2/10/2008 |
Q: my company provided fingerprinting service for a nursing home based in the bronx ny. they owe us ...
A: Since the amount is low, I would file a small claims court case with your local courthouse. When ...
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| S_Corp personal liability to collection agency | 2/7/2008 |
Q: I am the President of a one person S-Corp. I am 120 days out on an Amex credit card taken out in my ...
A: This could very well be the case, most agencies work on a contingency basis, they don't purchase the ...
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| S_Corp personal liability to collection agency | 2/6/2008 |
Q: I am the President of a one person S-Corp. I am 120 days out on an Amex credit card taken out in my ...
A: In my opinion you should call the collection agency and explain the situation, if you are unable to ...
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| Collection Agency | 2/5/2008 |
Q: I dissolved my llc (subchapter s) almost three years ago and had credit card dept which was not ...
A: Scott, you sold your collection agency which was an LLC 3 years ago? You should contact your ...
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| Collections | 2/3/2008 |
Q: Our company has a serious collections challenge which I am trying to solve. It is owed about ...
A: Make sure if and when you hire someone to do your collections they are familiar with the fair debt ...
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| Modeling Agency Out of Business!! | 1/28/2008 |
Q: In 2006, My wife and I signed our daughter up with a Modeling agency. At the time she was 6 Months ...
A: Michael, Check your contract that you have with them, and find out if the company went out of ...
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| secured credit cards | 1/24/2008 |
Q: Michelle, My partner and I opened a business a LLC. in Orlando, Fl. when we opened I was the only ...
A: Burnell, If your partner won't sign off the account, I would check with an attorney and find out ...
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| Dissolve LLC without partner's debt | 1/23/2008 |
Q: I have an LLC Partnership in the State of Florida that I want to dissolve because my partner has ...
A: Since you are a partnership, check your paperwork that you filled out to form the entity. You may ...
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| credit & collection | 1/23/2008 |
Q: I am a credit & collection specialist of one the prestigious real estate firm here in the ...
A: Aprille, I know many of you are desperate for a quick fix because suddenly many of your customers ...
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| Our collection attorney stole the debt?? | 1/21/2008 |
Q: My small business had accumulated approximately $56k in debt that we chose to turn over to a ...
A: Denise, I would contact an attorney immediately and have the attorney contact this collection ...
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| Phone Service | 1/18/2008 |
Q: What kind of phone service is out there to keep my personal info. private when calling on a ...
A: Sal, You would need to talk to your phone provider and ask them, they will be able to tell you what ...
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| Debt Collection | 1/14/2008 |
Q: Do you know 1: What the licensing requirements are to start a collection agency in Philadelphia? ...
A: 1. Call your state offices in Philadelphia and they can give you the forms you need and let you ...
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| Collection letters for business debt | 12/31/2007 |
Q: I have purchased your books and successfully started a collection agency in 2007. We have about 225 ...
A: Doug, Congratulations on your agency, I am so glad you are doing well ! I don't know of any ...
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| Establishing Business Credit | 12/29/2007 |
Q: I am about to copy and paste what someone told me are the proper steps to developing business ...
A: You will find ALOT of information about how to establish business credit, there are many pros and ...
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| Mentor | 12/28/2007 |
Q: I have been doing collections for over 15 years...and now I am branching out and starting my own ...
A: Mel, Are you looking for a mentor or for some consulting? Also, I wanted to let you know about some ...
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| llc business debt | 12/16/2007 |
Q: im an investor i tok over a business from a friend who was behind on rent in a fitness gym i paid ...
A: Jim, I depends on the contracts and the closing documents. did you purchase the A/R when you ...
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| debt collection | 12/16/2007 |
Q: what kind of permit do i need to start my own collections business in upstate ny and when i do start ...
A: Roger, If you are a member of ACA or have my book "Starting a Collection Agency" the requirements ...
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| Collecting from a dissolving corporation | 12/9/2007 |
Q: Illinois -- I have been receiving small payments from a company I did business with 2 years ago. ...
A: K, Getting a judgment may help in putting you in a better position to be paid if there are any ...
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| Client closed owing us a lot of money | 12/9/2007 |
Q: In 2006, we provided equipment rental and labor services to a client that we had worked for a few ...
A: Kirk, If you had a contract with the original owners and they signed it you should immediately take ...
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| credit card debt collection | 12/4/2007 |
Q: The company I used to work for gave me an AMEX card for gas and equipment purchases. I have just ...
A: James, If you request verification or "proof" of the debt, they have to send that to you by law. If ...
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| Business Issue | 11/21/2007 |
Q: My husband lent a friend a lot of money to run three pizza places starting in 2006. My husband ...
A: Marlene, Do you have the option of talking with the attorney who was going to transfer the shares ...
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| Disolved | 11/10/2007 |
Q: My company lost it's two largest clients and I have let the company dissolve, per my accountants ...
A: If you requested verification of the debts within 30 days from being contacted by the collection ...
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| credit card liability | 11/8/2007 |
Q: I have worked for a golf tour for 7 years and part of our compensation was that any hotel rooms we ...
A: Shari, If it is legal or not depends on the contract you have with this company. Pull out your ...
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| Establishing Business Credit w/no pers guarantee | 11/7/2007 |
Q: I was told by an individual that charges $2100.00 to establish business credit with no personal ...
A: Alvin, I would check references including the Better Business Bureau on the individual that wants to ...
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| fighting unfair debt claim | 11/6/2007 |
Q: our company has paid our Workers' Comp insurance bills always, and on time. The insurance company ...
A: Vic, 1. Did you let your attorney know they were still contacting you? Tell him you want him to ...
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| Disolved | 11/5/2007 |
Q: My company lost it's two largest clients and I have let the company dissolve, per my accountants ...
A: Steve, It sounds like you may very well be responsible for these debts. Since your accountant ...
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| Business debt - Dissolving company | 11/2/2007 |
Q: In the process of dissolving my corporation, I have been going through accounts and closing all open ...
A: Tim, When you say under contract, who signed the contract and what does the contract state for terms ...
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| fighting unfair debt claim | 11/1/2007 |
Q: our company has paid our Workers' Comp insurance bills always, and on time. The insurance company ...
A: Vic, Give everything to your attorney, if you have requested this information from the collection ...
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| Paid debt | 10/29/2007 |
Q: I am being sent collection letters and receiving collection calls for two debts that I paid over ...
A: Keep those check copies, that is what you need to prove you paid the debt. Unfortunately you may ...
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| Credit reporting | 10/29/2007 |
Q: I started my collection agency in 06/01/07 from home and I have 4 clients.And when I tried to set up ...
A: Marquetta, I would get copies of your credit reports from all three credit bureaus and find out what ...
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| Incorporated Business Credit Card Debt | 10/23/2007 |
Q: I was the president of a startup Incorporation. When I took out a Credit Card with AMEX I did so ...
A: Yes, if you have given them the owners contact information and their attorneys contact information ...
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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: I would not suggest ignoring them, it will just get bigger and more out of control. You can send a ...
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| Incorporated Business Credit Card Debt | 10/22/2007 |
Q: I was the president of a startup Incorporation. When I took out a Credit Card with AMEX I did so ...
A: In that case I would give the company that is calling you the owners contact name and address and ...
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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, You can ask them for verification of the debt, if you ask for this within 30 days of receiving ...
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| Incorporated Business Credit Card Debt | 10/19/2007 |
Q: I was the president of a startup Incorporation. When I took out a Credit Card with AMEX I did so ...
A: Chad, Was the company incorporated? Has the company dissolved or gone out of business? If it has ...
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| debt collection | 10/17/2007 |
Q: I purchased a software program for $2500.00 over the internet for my small business. I paid upfront ...
A: Verification of the debt is proof or validation of the debt. Sometimes that can be a signed purchase ...
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| LLC debt and bill collector harassment | 10/16/2007 |
Q: My husband and I have an LLC that got in trouble this year. We had 2 credit cards, neither of which ...
A: Since I am not involved and have no first hand experience with this company, I do not know if they ...
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| Ready to be self employeed | 10/15/2007 |
Q: Can you give me any direction as to how I can do collections from home. I have been working for the ...
A: Brandi, Are you working for an agency now? Would they consider letting your work from home for them? ...
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| LLC debt and bill collector harassment | 10/15/2007 |
Q: My husband and I have an LLC that got in trouble this year. We had 2 credit cards, neither of which ...
A: Dawn, Even if you close or sell the business, that will not stop the calls. It sounds like you want ...
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| debt collection | 10/12/2007 |
Q: I purchased a software program for $2500.00 over the internet for my small business. I paid upfront ...
A: Juan, Did you see the proof of delivery and signature? Is it your signature? If not, you may not ...
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| Bank of America set off company credit card debt with my personal checking account | 10/11/2007 |
Q: My company closed and stopped paying credit card debts. The BofA card was in my name, and they have ...
A: James, Were you the sole principal of your company? Was your company an LLC a Corporation or some ...
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| Is there any agencies that help a person skiptrace? | 10/11/2007 |
Q: Is there any companies or organization that allow skip tracing and that will bill my agency on a ...
A: Tom, Yes, there are many online skip tracing providers. Check out ...
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| company went out of business, can collection agency still collect? | 10/11/2007 |
Q: I live in Atlanta, GA. Approx. five years ago I decided that I needed to break a lease because of ...
A: Renee, I would get out a copy of your lease and check on the notice portion of this question. But as ...
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| Judgment Collection from Credit Card Client | 10/3/2007 |
Q: Michelle – We’re a business with a small claims court judgment against another business that ...
A: If you have already obtained a judgment, file with the same court for periodic payments. This will ...
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| debt | 9/20/2007 |
Q: Michelle. Before I consult with local counselor I'd like to get advice from you. I'm getting phone ...
A: Alec, If the phone calls you are getting are getting your answering machine, that is why they dont ...
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| personal vs. LLC responsiblilities | 9/19/2007 |
Q: I have had my retail store for 2 years. I am being forced to close it as I cannot meet my ...
A: Keith, You are personally responsible to make sure to take care of the creditors and collection ...
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| lawyer/home collecting | 9/11/2007 |
Q: I work for an attorney and take care of a collections account with him. So I know the Legal ...
A: When you own a collection agency and have worked the account to a point where you do not feel you ...
|
| US student accounts past due | 9/5/2007 |
Q: I was wondering what happens if an international student e.g. canadian went to a US school and have ...
A: What is the reason you cannot pay this loan back? Alot of what happens depends on the circumstances ...
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| Starting a Collection Agency | 8/27/2007 |
Q: I am interested in starting my own agency and am interested in finding a mentor in my area. Could ...
A: Florence, I would suggest you look at purchasing my book Starting a Collection Agency, it lists all ...
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| starting a collection agency | 8/22/2007 |
Q: I'm currently a medical billing company who's been in the industry for 24 yrs. I do routine A/R ...
A: Ramona, I have quite a few free resources at ...
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| i would like to start my own third party debt collections co. | 8/21/2007 |
Q: How would i even began to start my own debt collections company . I would like to start in the next ...
A: I have quite a few free resources at http://www.credit-and-collections.com/startup-tips.html You ...
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| internal collection department | 8/20/2007 |
Q: My family owns a small business and already has a established Federal Employer Identification ...
A: Valerie, You would need to have a new Federal ID# as well as a new name for your collection agency, ...
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| Personal liability of business debt | 8/7/2007 |
Q: Two years ago I formed a general partnership in NY state to open a scrapbook store. My partner and I ...
A: You should check with your accountant and look over any signed agreements you may have had as well ...
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| payment over the phone | 8/2/2007 |
Q: I am just starting up my collection agency and I am trying to get set up to take payments over the ...
A: Mary, Yes, You can do it yourself using any software that creates bank drafts. Some people who do ...
|
| Business LLC issue | 7/18/2007 |
Q: I had a company with someone else that was registered as an LLC in Ks. We opened a joint checking ...
A: Mary, Did you register as a partnership or an LLC? When you say you didn't have anything in ...
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| Is this a collection agency or billing service | 7/8/2007 |
Q: Ms. Dunn, I am planning on setting up a billing service for physician offices, most of which are ...
A: Kim, I have never worked with or for a billing service but a collection agency is something totally ...
|
| SOL on HOA variable expenses | 7/6/2007 |
Q: The property management company that manages our Home Owner Association account stopped collecting ...
A: Judy, Most states MANDATE that the Board of Directors levy assessment so that the HOA can fulfill ...
|
| business | 7/6/2007 |
Q: Below is the passage I was trying to translate into English, related to the activities of the ...
A: No matter what you put in your contract, before you use it, have a lawyer or a member of the ...
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| Bad Checks | 6/29/2007 |
Q: I was wondering, I was unaware of my checking account being closed out, and I wrote a lot of checks ...
A: First if someone else closed out your checking account, you need to go to your bank and find out who ...
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| NCO financial | 6/27/2007 |
Q: NCO financial has been calling me (early) morning and night for the past few weeks. When I finally ...
A: Caitlyn, If your question is "Can a collection agency levy money you have without your ...
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| business debt - statute of limitations | 6/25/2007 |
Q: i live in ca and personally guanateed a contract for my company 9 years go. the company went out of ...
A: Scott, The California Statutes of Limitation is as follows on some debts: Written agreements: 4 ...
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| Company out of business trying to collect debt | 6/18/2007 |
Q: My fiance worked for his father and supposedly has a store bill. The bill was accrued over a period ...
A: This depends on the type of bill or debt that this is. Was there a written or oral agreement for ...
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| Debt Collections | 6/11/2007 |
Q: I am not part owner of the company, just an employee. My last and final usage of the card was in May ...
A: Doug, If you paid off what you charged on the card and have copies of your check stubs or receipts ...
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| Debt to be collected from my American partner | 6/11/2007 |
Q: I write you from Romania. I have a signed contract with an American partner and he owes us about ...
A: Constantin, If you can't pursue the debt yourself in the US I would contact an attorney OR a debt ...
|
| Bank visits my office | 6/2/2007 |
Q: I have a SBA loan that I am behind on that I got from a bank near my office. Last week someone from ...
A: Mike, they cannot discuss your debt with anyone who is not responsible for the debt. That is a ...
|
| robbery | 4/30/2007 |
Q: I am a single woman and I own a small jewelry store that has been in business over 30 years. ...
A: Oh no, if you don't have insurance you should contact an attorney. You may be required to sell ...
|
| non profit organization debt and personal guarantee | 4/13/2007 |
Q: I work for a chuerch as a business manager. in 2004 they took an american express credit card under ...
A: This is similar to co-signing on a loan. When the church did not pay, the collection agency has ...
|
| Collecting Debt on a Corp that went Out of Business | 4/9/2007 |
Q: We've been attempting to collect debt from a small corporation, but all phone numbers/email accounts ...
A: If you don't have any legal or written agreement with them, such as a contract for services or ...
|
| Student loan asking for 25% of income | 3/4/2007 |
Q: Dunn, I'm writing from New York. After a few years of hardship (unemployment, low-wage jobs, etc.) I ...
A: G., This is what I know about student loans and re-paying them, I have never doen collection of ...
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| collection letters | 2/26/2007 |
Q: I work for a small company and have been trying to collect some past due a/r. Where can I go to get ...
A: You can get copies of collection letters to use, by doing a search on the internet in a major search ...
|
| Hair salon commission percentage for employees... | 2/3/2007 |
Q: I wondered if you might be able to answer what the average commission percentage(out of 100%) for ...
A: Hairdressers here in New Hampshire start either at 45-50% and stay usually at 50-55%. This seems to ...
|
| small claims | 1/19/2007 |
Q: Is it possible to file against the phone company in small claims court for an over-billing? I can't ...
A: Typically the following types of situations are what is filed in a small claims court. Breach of a ...
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