As a business owner, you probably already know the importance of a strong contract. This holds true whenever you provide your services or products to your commercial customers on credit. The terms of that contract become very important if your customer fails to pay....
Many business owners face uncertainty when it comes to collecting an overdue debt. They are not sure what steps to take first, how long to wait for a response and when to take a more aggressive approach. Often, people wait too long to pursue their debt, leaving them...
Many businesses struggle with getting paid for their product or their work from individuals and other businesses. Perhaps your own business is trying to struggle through collecting overdue payments and you are wondering if there is something more you can do. You have...
As a creditor, the last thing you want to hear is that one of your debtor businesses may be filing for bankruptcy. Realistically, you know that you may not be able to collect as much money as you had hoped, and their actions could limit your recovery significantly....
There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You should not give up, though. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount...
You’ve won your case in court, and your debtor needs to make the necessary payments to resolve the outstanding debt. In theory, it should be as simple as collecting the monies owed to you and being on your way. But it rarely is that easy. Very often your initial...
There may be times when a mortgage lender might not be able to fully recover debts after a real estate property or asset is sold. When the sale proceeds are not sufficient to repay the loans, a deficiency may occur. A mortgage lender may file an additional lawsuit...
Mechanic’s liens in Massachusetts require specialized counsel and assistance for the legal procedures involved. Being a fairly complex matter of legal nature, what’s even more important is that you understand it fundamentally so you can wade your way through it...
One of the biggest drawbacks of offering flexible financing terms is that some customers fail to make payments in a timely manner and some just simply become a deadbeat. They just don’t pay back. The latter type of customers either use delaying tactics in the hopes...
When offering services or products on credit terms to customers, it is advisable that you make them sign personal guarantees. Personal guarantees can significantly increase your chances of Massachusetts debt recovery. A personal guarantee can act as a safety net in...