It happens sometimes - one of our customers files bankruptcy. What does this mean to you as a creditor? Your first notice that this has happened is probably either going to be a verbal notice when you call for payment, or a notice from the court. If you receive a verbal notice, ask for the
It seems like every month I see invoices that say “1.5% interest per month on unpaid balance”;“Interest will be charged at 18% on accounts over 30 days,” “Accounts not paid in 30 days are subject to a 3/4% monthly service charge”, or similar language. However, the creditor may incur serious penalties if the interest is
PART 2: What Happened? Discovery & Mediation In most cases, after an answer is filed, both sides need to do “discovery” before the case is ready for trial. Discovery is just like it sounds - each side has the right to ask questions and obtain documents to determine what the other side would say if