Who Owns This Debt? A client recently placed a substantial commercial debt for consulting services with my firm. Upon contacting the debtor, I found that the debtor had beaten us to the punch: They had filed a Complaint for breach of contract to preempt my client’s collection activity. In such a situation, unless the debtor […]
Why Use a Credit Application
1) Protection From Bad Debt At the inception of a new business relationship, it may be difficult to imagine that this exciting new client will one day become a frustrating debtor. However, all debtors start out as customers. It is crucial to protect yourself from the beginning, and it is easy to do so with […]
A Solid Receivable Recovery Policy
by: David E. Greenberg So many times you’ve heard debt collectors and lawyers express dismay over why creditors hold onto delinquent debt without taking any action to bring in those missing dollars. That dismay comes from knowing a variety of factors. Failure to take action on a delinquent debt can cause the receivable to become […]
The Out of Business Corporation and Successor Liability
by: David E. Greenberg In discussing the out of business corporation, one must first understand the nature of corporations in this country. The U.S. corporation is a legal entity unto itself, separate from the principals or directors. In other words our law regards a corporation as an actual person, complete with its own life, health, […]