As of February 2015, U.S. outstanding consumer debt was at $3.34 trillion. Creditors, of course, expect regular payments from borrowers; however, sometimes wage garnishment is a necessary step for loans in default. When a customer is in default for their loans or lines of credit, wage garnishment gives creditors a legal option for recouping consumer…
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Small businesses often lack the time and resources to recover their owed debts. Debt collection attorneys are a resource for quick and confidential resolution. All businesses enter into an implicit agreement with their customers that the goods and services provided will be paid for. When that agreement is breached through non-payment or default on payment…
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If you are living this scenario, contact the collections attorney and resolve the matter, either by paying what you owe or providing proof that the debt is not yours. When a debt collection attorney calls or sends you a demand letter, it means that an unpaid debt has passed through several levels and now requires…
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Consult an attorney to learn more about your options for collecting commercial debt from lines of credit. Loaning money or extending a line of credit always carries a degree of risk, especially in Arkansas where many markets are changing drastically. But lending institutions like yours must take precautions to minimize the instances of default when…
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Your business relies on prompt compensation for your products or services to remain profitable. Legal assistance is available to business owners in recovering past-due debts. Many businesses offer some form of in-house financing as a way of aiding customers in affording their products and services. Concurrently, such businesses can benefit from these in-house financing options…
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