MNS Credit Management Group

DECEMBER 2, 2022

Political Hazard: Payment defaults may occur if there is an unstable political climate, such as a trade embargo, civil war, or political unrest. Legal Risk: Due diligence should be conducted through a local law firm and legal counsel should be obtained in order to understand your legal status.

Debt Collections 52

Debt Collections Collector Credit and Collections Bad Debt 52

tillful

MARCH 22, 2023

Beyond bankruptcy, liability can come into play when corporations are sued or when they default on debts. The piercing of the corporate veil occurs most often with closely held corporations like small businesses because they are less likely to understand or follow the required corporate formalities, according to Miller Law.

Bankruptcy 52

Bankruptcy Law Firms Default Small Businesses 52

tillful

MAY 17, 2023

A derogatory mark on a credit report refers to a negative item such as a late payment, a loan default, a repossession, or a foreclosure. Attorney at Law at Smith Law Firm. ❗Important: While the original creditor is no longer trying to collect the payment from you, you’re still legally obligated to pay the debt.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Reporting Agencies Credit Scoring 52

Fundera

JULY 10, 2019

LLPs are particularly common about professional businesses, such as architecture firms, law firms, and accounting firms. If your business is run by two or more people, and you don’t register with the state, by default you have a general partnership. Start an LLP With LegalZoom.

Law Firms 45

Law Firms Accounting Firms Default Small Businesses 45

Fundera

JUNE 13, 2019

Professional businesses: In professional industries, such as doctor’s offices and law firms, older, retiring members might wish to stay involved as limited partners. In fact, if you start a business with multiple owners and don’t register your company with the state, your business is a general partnership by default.

Real Estate Companies 40

Real Estate Companies Law Firms Deductions Small Businesses 40

Fundera

JULY 22, 2019

If your LLC is in a professional industry, such as a doctor’s office or law firm, you’ll need to obtain a certificate of registration from that department before you can launch your business. . S-corps are pass-through entities, similar to the default tax treatment for LLCs.

Law Firms 40

Law Firms Small Businesses Default Transactions 40

Fundera

APRIL 5, 2017

Charles Vethan, CEO of Vethan Law Firm. This counter-party risk has two components: default risk, where the buyer simply chooses not to perform as agreed in the buyout agreement, and credit risk or bankruptcy risk, where the buyer is unable to perform due to insolvency or bankruptcy.”. Know Who You’re Working With.

Bankruptcy 75

Bankruptcy Law Firms Transactions Default 75

Fundera

DECEMBER 12, 2018

Charles Vethan, CEO of Vethan Law Firm. This counter-party risk has two components: default risk, where the buyer simply chooses not to perform as agreed in the buyout agreement, and credit risk or bankruptcy risk, where the buyer is unable to perform due to insolvency or bankruptcy.”. Know Who You’re Working With.

Bankruptcy 75

Bankruptcy Law Firms Transactions Default 75

Fundera

SEPTEMBER 14, 2018

Small business owners, such as Jonathan Rosenfeld, owner of a personal injury law firm , get peace of mind from creating an estate plan: “As the owner of a small law firm in Chicago, I now have an estate plan to provide some continuity of services in the event of my untimely passing (which I hope is not imminent).

Small Businesses 85

Small Businesses Law Firms Transactions Default 85

RMAi Blog

MARCH 14, 2025

The Court of Appeals of Wisconsin, District I, recently held that the National Bank Act does not preempt the Wisconsin Consumer Acts requirement to send a notice of right to cure to a borrower in default prior to filing a collection action. A Wisconsin borrower defaulted on two credit card accounts issued by a national bank.

Collector 130

Collector Credit and Collections Law Firms Default 130

RMAi Blog

APRIL 14, 2025

Eighth Circuit Holds Collateral Estoppel Applies to State Court Default Judgments Delgado v. The consumer did not respond, and a default judgment was entered against her. The Court also examined whether a default judgment qualifies as a final judgment on the merits. OTHER Actuate Law, LLC Alliance Credit Services, Inc.

Collector 130

Collector Credit and Collections Debt Collections Default 130

Fundera

DECEMBER 12, 2019

A partnership is the default business structure for a company with multiple owners. If you start a business tomorrow and share the responsibilities with one or more other people, you’d by default have a partnership unless you specifically choose a different structure, such as an LLC or corporation. .

Deductions 72

Deductions Law Firms Default Credit and Collections 72

Fundera

APRIL 14, 2018

Like a sole proprietorship, a general partnership is the default mode of ownership for multiple-owner businesses—there’s no need to register a general partnership with the state. There are two kinds of partnerships: general partnerships (GPs) and limited partnerships (LPs). Pros of a General Partnership.

Deductions 76

Deductions Small Businesses Law Firms Credit and Collections 76

Fundera

DECEMBER 20, 2018

A partnership is the default business structure for a company with multiple owners. If you start a business tomorrow and share the responsibilities with one or more other people, you’d by default have a partnership unless you specifically choose a different structure, such as an LLC or corporation. .

Deductions 56

Deductions Law Firms Default Credit and Collections 56

Fundera

JANUARY 17, 2019

Like a sole proprietorship, a general partnership is the default mode of ownership for multiple-owner businesses—there’s no need to register a general partnership with the state. There are two kinds of partnerships: general partnerships (GPs) and limited partnerships (LPs). Pros of General Partnership.

Deductions 100

Deductions Small Businesses Law Firms Accounting Firms 100