dove investire nel 2017 opzioni binarie Navigating the realm of debt collection can be a tricky endeavor, especially if you’re unfamiliar with some of the more common collection terminology that debt collection lawyers and other collection professionals use on a daily basis. Let’s go over some of the more common terms, so you can begin confidently discussing your case with a Halpern debt collection lawyer in Minnesota.
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Put most simply, accounts payable are the amount of money owed by a business to its creditors, which are usually suppliers. In the context of your household, your household’s accounts payable represent the money you owe to your cable provider, gas company, etc.
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The opposite of accounts payable, a business’s accounts receivable are the money owed to that company by its customers, contract parties, monthly operating expense payees, etc.
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An account becomes delinquent when it is no longer being paid according to the payment arrangement already agreed upon. For example, if a business’s customer is more than 30 days past due, his or her account is usually considered delinquent.
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Bankruptcy is a legal proceeding which offers a consumer or a business the opportunity to reorganize debts or be relieved of most debt obligations. By filing a Bankruptcy Petition with the Bankruptcy Court, a consumer or business is essentially admitting an inability to repay outstanding debts.
Work online from home manila If you need assistance with the collection of accounts receivable, let a Halpern debt collection lawyer in Minnesota help. At Halpern, we can litigate cases in all State, Federal, and Bankruptcy Courts in Minnesota. Give us a call, or contact us via our online form. We offer free consultations, so there’s no cost in initially discussing your collection challenge with us.