Business Debts, Bankruptcy and Debt Removal Secrets
Bankruptcy is a custom affair with each situation being unique to that business. It all depends on the company, its debt amounts and continuation issues at hand. Does the business have other lines of credit that can be willingly reduced, without harming profits, during the 3-6 month period where a debt is being disputed? Lower scores result in lower lines of credit fairly quickly in business.
If some lines of credit are absolutely required to continue on with business, a bankruptcy could devastate the business even with a restructure. In those times, fighting that debt is best. More importantly, when the business is showing good growth and sustainability all its debts should be in good standing. Bankruptcy is best for new entities that have a high propensity for failure. Long standing companies should seek relief (dispute) of singular debts when they become too great and threaten the survivability of the business.
The FTC has outlined how a creditor can be sued under FDCPA laws, even for business credit, when collecting debts under a different name than the credit was issued under. All business creditors must legally validate the debt when the debtor requests it. Since no debt will ever be validated - all business credit cards and business loans can be removed with the same letters written for 'personal debts'. Only private business debts (net vendor accounts) require a bankruptcy to legally discharge.
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Does Debt Removal Secrets Work For Business Debts (LLC, Corporation, Etc.)
The FDCPA applies only to the collection of debt incurred by a consumer primarily for personal, family, or household purposes. It does not apply to the collection of corporate debt or debt owed for business or agricultural purposes. Despite this ...
How Often Can One File for Bankruptcy
One can legally file for Chapter 7 bankruptcy (business debts only) every 8 years and Chapter 13 (business and personal debts) every 2 years; however, with the help of Debt Removal Secrets a bankruptcy can be repeated about every 6 months and can be ...
Can Back Taxes or Taxes Owed Be Removed with Debt Removal Secrets
No, back taxes are related to taxable events (typically from the use of private credit) and therefore will always be due. These are not debts created from thin air, which is why Debt Removal Secrets works so well - these are debts created due to a ...
Can This Remove A Bankruptcy
Yes, Debt Removal Secrets can help remove bankruptcies from one's credit reports quite easily. There is ALWAYS something wrong with the credit bureaus reporting (names, dates, amounts, name of court, etc.). The best option is to make the credit ...
How Long Does Debt Removal Secrets Take To Complete When Going To Court
Debt Removal Secrets will take approximately 270 days to complete the validation process from the time payments are stopped and the court case is concluded (if one decides to file suit).