Phillips & Mitchell

Small Business Debt Collection Laws

andy — Tue, 30 Jun 2009 18:49:17 +0000

By Steve Austin

In your will eventually become important, as your debt grows and some clients do not pay. To collect small business debts legally, you must send a written notice that collections have begun, within five days of first contacting the debtor for collections. The letter must include dispute instructions.

Small Business Debt Collection Laws Forbidden Practices…

-Collect any amount beyond the actual debt, unless you really can do so legally.
-Continue collections on a debt if the debtor has disputed the debt, unless you provide the debtor with written proof.
-Continue contacting the debtor if within 30 days of first contact, the debtor disputes the debt.
-Credit a payment the debtor has made to a non-disputed debt to a debt the debtor has disputed.
-Deposit a post-dated check before the post-date.

Small Business Debt Collections Laws: What You Can’t Say
- Give a false name.
- You are an attorney or government representative, if you are not.
-You have an attorney working for you or that you are going to assign the case to an attorney, if you really do not.
-The debtor has committed a crime, unless you are 100ure they have.
-You work for a credit bureau, if you really do not.
-The debt is more or less money than it actually is.
-You are sending or have sent legal forms when you really did not.
-You are sending or have sent papers that are not legal forms, if they really are legal forms.
-The debtor will be arrested–no one is arrested for nonpayment of debts anymore.
-You will seize, garnish, attach, or sell the debtor’s property or wages, if you do not really intend to or cannot legally do so (and unless the debt is secured with collateral, you probably cannot).
-You will sue or take other legal action, if you do not really intend to, or are not legally able to do so.

Small Business Debt Collection Laws Forbidden Third-Party Disclosures

Never:
1) Give any credit-related information that is not 100% accurate.
2) Tell anyone other than the debtor that you are collecting a debt.
3) Telephone any number other than debtor’s more than once.

Small Business Debt Collection Phone Calls

Never:
-Call after 9 pm or before 8 am.
-Forget to give your name and your company’s name.
-Call repeatedly or in a way intended to annoy.
-Make a collect call.
-Make any threats.
-Use profane or obscene language.
-Leave a message that reveals this is a debt collection.

Small Business Debt Collection Mailing

Never send:
-Postcards.
-Envelopes or mailings with any reference to debt collection on the exterior.
-Anything that looks like an official, legal, or government document, if it is not.

These simple small business debt collection laws guidelines should help stay with the collection laws.

About the author:
Free debt collection laws information at http://www.debt-collection-laws.com/

Bernie Madoff Goes to Jail – fairfieldweekly.com

andy — Tue, 30 Jun 2009 18:48:41 +0000

Bernie Madoff Goes to Jail
fairfieldweekly.com
Bernie Madoff deserves to go to jail for 150 years. That was the ruling of New York District Court Judge Denny Chin, who on Monday said, …
Stocks Remain Positive In Mid-Afternoon Trading – US CommentaryTrading Markets (press release)

all 2 news articles »

Madoff To Rot Behind Bars – Reuters

andy — Tue, 30 Jun 2009 12:50:41 +0000

New Zealand Herald

Madoff To Rot Behind Bars

Reuters

By sara.behunek – The Big Money The New York Times leads with and the Wall Street Journal banners with news that Bernard Madoff, architect of the …

Katie Couric’s Notebook: MadoffCBS News

Madoff’s prison term cheeredDetroit Free Press

Convicted Ponzi-Schemer Madoff To Learn Fate MondayWall Street Journal

Wall Street Journal Blogs -Reuters India -Newsinferno.com

all 7,435 news articles »

Madoff Investors Were ‘Greedy’: Hedge Fund Manager – CNBC

andy — Tue, 30 Jun 2009 09:10:40 +0000

Madoff Investors Were 'Greedy': Hedge Fund Manager
CNBC
People who invested with Bernard Madoff were greedy and happy to accept high returns without probing too much in the way these were achieved, Hugh Hendry, …
Madoff Victims Called OutDealBreaker.Com

all 4 news articles »

Bernard L. Madoff’s Statement to the Court – New York Times

andy — Tue, 30 Jun 2009 02:12:49 +0000

New York Times

Bernard L. Madoff’s Statement to the Court
New York Times
Following is a transcript of Bernard L. Madoff’s statement to the court during his sentencing, as provided by the court: ” Your Honor, I cannot offer you an …
QUOTEBOX: Madoff gets 150 years in prison for fraudReuters

all 19 news articles »

Madoff Sentence “Legally Suspect And Grossly Unfair” – CBS News

andy — Mon, 29 Jun 2009 17:09:15 +0000

CBS News

Madoff Sentence “Legally Suspect And Grossly Unfair”
CBS News
I think the 150-year sentence handed down to Bernard Madoff today is legally suspect and grossly unfair when compared to the other sentences handed out to …
Madoff sentencing cheers South Florida investorsSun-Sentinel.com
Re: Why the Madoff Sentence Is Too Long [Anthony Dick]National Review Online Blogs
NRO on Madoff: Give Him a BreakDaily Kos
National Review Online Blogs
all 7 news articles »

Don’t be Madoff’ed – CNNMoney.com

andy — Mon, 29 Jun 2009 15:44:14 +0000

Don't be Madoff'ed
CNNMoney.com
NEW YORK (CNNMoney.com) — Bernard Madoff is getting sentenced today for running a massive Ponzi scheme and swindling investors out of billions. …

and more »

Funds Tied to Madoff in Legal Vise

andy — Sat, 04 Apr 2009 21:03:31 +0000

By DIANA B. HENRIQUES

Published: April 1, 2009

As Bernard L. Madoff waits in jail to be sentenced, legal problems are accumulating for some of the hedge fund managers who helped him raise billions of dollars from around the world for what he now admits was a vast Ponzi scheme.

Massachusetts regulators have sued the Fairfield Greenwich Group, one of the earliest of these so-called feeder fund managers, for fraud, saying it had repeatedly misled investors about how diligently it checked out Mr. Madoff’s operations over the years.

“Fairfield’s complete disregard of its fiduciary duties to its investors and its flagrant and recurring misrepresentations to its investors rises to the level of fraud,” said lawyers for William F. Galvin, secretary of state for Massachusetts and its top securities regulator, in an administrative complaint filed Wednesday.

[Read full story: http://www.nytimes.com/2009/04/02/business/02madoff.html?ref=global-home]

Bankruptcy 101

andy — Sat, 17 Jan 2009 10:21:25 +0000

Bankruptcy 101

by: Mansi gupta

‘Bankruptcy’ the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt situation can hover over anybody’s life be it a successful business man who has never ever fathomed it or any greenhorn entrepreneur who had thought of going a long way ahead.There are several reasons behind this insolvency-

Indebtedness-people usually take big loans from the banks and private companies in order to run successfully their business or company. However, since the economy is constantly fluctuating, one might not be able to incur expected results or profits. So, the loan debt with interest rates gets piling on. The loan can also be taken to pay off a bill that you missed paying. The loan is taken instantly in this case without an assessment of the interest rates. This can be cause snags later.

The credit card bills are also a source of trouble. They are charged with good interest and at the end of the month when the expenditure has chewed your month’s income; the credit card bill can make you bite the dust.

In the world today where fraud and betrayals are considered to be the bets virtues, any partner or shareholder or director might connive to pitch the company or business to bankruptcy. Here the reasons can be mutual squabbles and vengeance.

Gradual denouncement from the market- the commodity you sell today at price X, may be sold tomorrow by some other company at a much cheaper price Y. This can oust or eject your product from the market replacing it with a relatively cheaper one.

However, where there is a will, there is definitely a way. Just as there are two sides of a coin, there are two aspects attached to everything. When you glare at the negative side of the situation, its positive aspect is lurking behind according to which bankruptcy can be seen a situation that provides you a golden chance to start things afresh.

This is done by filing your application for bankruptcy, in a way seeking help from the government to help you overcome the disaster. Once you forward your application and it is accepted, the government repays most of your debts. This becomes possible by taking hold of your assets and dividing them amongst the creditors in an organized manner. But the debts that are associated with embezzlement or those huge ones that cannot be covered up via one’s assets can be problematic. In case of businesses filing for bankruptcy, certain procedure has to be followed up.

Besides this there are a few debt consolidation services that advertise themselves through television, print media etc. Debt consolidation signifies using a loan provided by that service to repay other debts. This loan is comparatively at a lower rate of interest and it often becomes easier for many to repay one loan instead of five to six ones.

In any case, if you are seeking financial aid from the government, banks, services etc., there stands the barrier of qualification. It is that you should be able to prove the service or the bank that your case is authentic and not a fraud. In order to escape future troubles, the government has formulated strict laws and eligibility criterion in this area.

However, in any case it is better to seek the advice of an advisor before seeking help to make up your crisis. This will not just educate you about all the related terms and conditions but also the possible legal and financial consequences. Just keep in mind that help always comes to those who are look for it with a true heart.

About the author:
Mansi gupta writes about bankruptcy Learn more at http://www.bankruptnomore.com

Government Grants – What are they and how to get them ?

andy — Sat, 17 Jan 2009 10:17:34 +0000

Government Grants – What are they and how to get them ?

by: Mike Freemen

None of these Government Grants require a credit check, collateral, security deposits or co-signers, you can apply even if you have a bankruptcy or bad credit, it doesn’t matter. Its Free Money Never Repay!

The Federal Government is Giving out over 155.5 billion dollars in Business Grants!

Receive Government Small Business Grants for virtually any type of business. Whether it is to start a business or expand your existing business there is money for waiting just for you. The Federal government provides this money to help existing small business owners and those who want to start their own business change their lives and achieve financial independence.

The United States Government wants your Small Business to succeed and you will be amazed at the lengths they will go to help ensure your success. At Grant Seeker Pro™ we have designed a State of the art software program that will aid you in locating the perfect grant or grants for your small business!

Once you find the programs for Small Business Grants that fit your needs you can use the Grant Seeker Pro™ software program to complete the applications! Don’t forget to use your Grant Seeker Pro™ to complete your business plan also!

Facts About Government Business Grants:

# Over 20 million people gets Government grants every year

# Over 10 BILLION dollars for entrepreneurs in the form of Low Interest Small Business Loans.
# 4,000,000 people get money to invest in real estate!

# Did you know that if every business in America were to apply for and receive an equal share of Government Small Business Grants that each and every business in this great country would receive a $70,000 free cash grant?
# Did you know that H. Ross Perot has received Government Small Business Grants?

# Did you know Paul Newman has received Business Grants.
# Did you know Donald Trump has used Small Business Grants to fund many programs.
# Most recently the airlines have received Billions in grants to make sure they stay afloat through these troubled times.

Learn about complicated Tax Refunds or Tax Credits. These are programs largely overlooked by the Small Business owner. At tax time these special incentive programs can (depending on the size of your business) save you tens of thousands of dollars!

In spite of the perception that people should not look to the government for help, the great government give-away programs have remained so incredibly huge that if each of the approximately 8 million businesses applied for an equal share, they would each receive over $70,000.

Thought Affirmative Action was dead? If you did you thought wrong. Though many of the catch phrases are no longer in use most of the money that was available still is.

Every year Congressmen and Senators make promises to the people that put them in office. Many of those promises are made to minority groups in specific areas but most are made at a National level.

There are also Reserved Free Government Cash Grants now available for the following special interest groups. American Indians, Veterans, Family Members of Veterans, Low Income Families, Community Block Grants, Non Profit Organizations, First Time Home Buyers, Artists, Musicians, Nurses, Teachers, Researchers, The Disabled, People Suffering From HIV and AIDS, Substance Abuse. There are literally Millions Available; All you have to do is ask!

Can You Imagine receiving:

One Billion Dollars in Minority Business Grants for business start up!

Millions in Minority Business Grants to expand your existing business!

Receive $8,000 in Minority Grant for Free Legal Advice!

Millions Available In Minority Grants for the purchase of your first home!

Receive $75,000 Housing Grant to Remodel Your House!

Receive $6,000 in Minority Scholarship Grants for College Tuition!