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Get the Facts About Secured vs. Unsecured Debts
By: Amanda Vann, Esq. The main difference between a secured debt versus an unsecured debt is whether or not the debt is “guaranteed” (secured) by collateral. For example, car loans are secured by the car that was purchased with the loan proceeds and mortgages... Continue Reading.
Statute of Limitations on Debts, What Are They and Why Are They Important
Statute of Limitations is a legal term used to define the time period a creditor has to bring suit against a debtor. Each state is different, but in Maryland, a creditor has 3 years to bring suit from that later of when the last payment was made upon the debt or when... Continue Reading.
Demand Letters: What Are They and How to Use Them Effectively
A demand letter is a formal letter sent by a creditor to a debtor which notifies the debtor about the debt, makes a demand for payment, and informs the debtor that if payment is not made, the creditor can start the legal process to file suit and obtain a... Continue Reading.
Business Debt Collection: 4 Tips for Getting the Money You’re Owed
One integral but dreaded part of running a business is navigating collecting money owed from clients that won’t or can’t pay you. As a business owner, it is essential to find a way to strike the appropriate balance between pursuing the money owed and... Continue Reading.
Protect Yourself with a Properly-Written Promissory Note
Have you ever considered loaning a friend or business associate money? Maybe you are trying to help a struggling friend or family member. Perhaps you want to assist a business associate. Before handing over any money, you should protect yourself by securing the loan... Continue Reading.
Extending Credit? Here are 5 Important Things to Know
As a lawyer who practices in both collections prosecutions and defense matters, I have handled numerous cases for clients who have made some mistakes when extending credit to their customers over the years. Here are 5 tips you should follow to ensure that you are... Continue Reading.
Top 5 Strategies for Improving Collections at Your Law Firm
Reclaiming Your Time Getting paid is an essential aspect of your business. If you have more than one client with an unpaid balance due, then you have one too many. Following these strategies can change how your firm does business to ensure you are getting paid... Continue Reading.
6 Proven Strategies for Better Medical Billing and Collections
Steps to Success Most medical doctors want to focus their energy on medicine’s actual practice and the quality of care their patients are receiving. Still, a critical component of a successful medical practice is billing and collections. Efficient medical... Continue Reading.