Judgments -- Dangerous Power Tools!

By Lisa Price
Director of Business Development

What is a judgment? Why is it a dangerous power tool? What’s the danger of a judgment? If you have a judgment pending against your company, you may be asking these questions. This article addresses those questions.

What is a judgment?
When a lawsuit is served against a company and it is not given the proper attention (See article-It’s All About Nothing), the plaintiff simply plays a waiting game. The time frame for responding to a lawsuit as stated on the front sheet is, “By 10:00 a.m. on the Monday next following the expiration of twenty days after you were served this citation and petition.”

Why is it a dangerous power tool?
If no written answer is filed within this timeframe, what are consequences? As also stated on the front sheet, “a default judgment may be taken against you.”

You may be thinking,“So. What can they do to me?” You may be surprised to learn that if granted a default judgment, the creditor has just started a countdown to take legal control of your assets!

What’ s the danger of a judgment?
Again it’s simply a matter of time! Unless the matter is addressed now, the plaintiff simply has to wait 30 days more to abstract his judgment. With the judgment recorded, the court issues a writ of execution. (See article-What is a Writ?). At that time, one of the following three things can happen:

1. The sheriff shows up at your business, unannounced of course, expecting the judgment to be satisfied, with money or property.
2. The company’s bank account will be garnished or frozen, or
3. A receiver will be appointed to run the business until the judgment is satisfied.

Do you really want the sheriff showing up in front of your employees? Do you want to give someone else control of your companies assets? What would happen if your company’s bank account was frozen?

Perhaps your thinking is a little clearer now on why allowing the court to grant a judgment is a very powerful tool in the creditor’s hands and why having one against you is not a good thing.

If you are concerned that a judgment might be in your future, please give F&A Associates a call. We can help.

It’s All About Nothing!

By Lisa Price
Director of Business Development

You’ve heard the ads and you’ve seen the billboards — all the hoopla about how much help the debt-burdened individual can get through debt consolidation.

But what help is there for the business owner whose business has so much debt that it’s drowning?

Typically these business owners think there’s nothing they can do, and unfortunately that’s exactly what many do — NOTHING!

Creditors want money, not excuses and their calls are increasingly persistent. What if creditors have filed lawsuits and judgments against the business? To whom can they turn for advice?

Let’s face it, asking for advice about business debt is not exactly like seeking opinions on a golf course, or asking for recommendations for a restaurant or movie. Therefore in most cases, the owner feels as if he or she must suffer silently. No one must find out about the haunting secret that is robbing them of a good night’s sleep and peace of mind. They certainly don’t want their competitors to know they are in trouble.

In an effort to avoid personal embarrassment, they hesitate even to ask their friends or family for advice. After all, they own the business and should certainly know how to handle business issues including these stressful financial problems. Right?

They would like to ask an attorney, however they certainly can’t afford that expense on top of the already mountainous debt owed. They’ve worked so hard and poured their heart and soul into building the company and want to avoid bankruptcy, knowing that they will probably end up with — NOTHING!

Most people in this situation do the worst thing ever, and that is they do NOTHING!

What do they tell their creditors? NOTHING! What do the creditors think they’ll be paid? NOTHING! What happens when the past due notice comes in the mail? NOTHING! When a lawsuit is filed over past due accounts and they are given time to answer it and truly “mean to,” but just can’t bear to think about it right now, what does the attorney hear? NOTHING! When it becomes a judgment and the sheriff comes out to pick up assets to satisfy the judgment or the bank account is frozen, it’s always because of what was done. NOTHING!

Trust me when I tell you that if this is where you find yourself, the absolute worst thing you can do is NOTHING!

Stop doing nothing and take action today.

Debt reduction is the answer.

What will it cost to find out more about debt reduction and how it can help your company? NOTHING!

Contact Fuselier & Associates today. It’s sure better than doing nothing.

Fusilier & Associates has been involved in debt reduction for 15 years and it has the Better Business Bureau record to prove it. Our services have restored peace of mind to many a business owner. We can do the same for you. Contact F&A today.

Financial Freedom through Negotiation

By Stacy E. Holland
President of Negotiations

Can creditors and consumers work together to resolve financial difficulties that threaten their relationship? The answer is an unqualified “yes!”

In the past, financial difficulties were resolved by costly and time-consuming litigation. This approach often resulted in unnecessary legal expenses and severed relationships. The ill feelings fostered by this process usually resulted in a loss to both parties.

In recent years, the high rate of bankruptcy, coupled with the downturn in the economy, has had a dramatic effect on credit grantors and debtors. At first, credit grantors took the hard line and demanded payment in full immediately. Debtors, often, could not comply with the demands placed on them and sought refuge in bankruptcy. The outcome resulted in the credit grantor getting nothing and the debtor ruining their credit rating.

In short, you had a lose/lose situation benefiting no one. Now the good news: Individuals soon realized that there was a happy medium — negotiate the problem. Sounds simple and, with the proper expertise, training and aptitude, it is simple. But as they say on television, “don’t try this at home.”

The financial negotiators bring to the table all the requirements listed above plus their ability to be completely objective. There is no room in financial negotiations for emotions. This is the reason financial negotiators can be extremely effective at dealing with both ends of the problem and finding a common ground that both parties can agree upon. Negotiators strive to create a WIN/WIN situation for both parties.

If you find yourself with pressing financial difficulties and are tired of phone calls and dunning notices, contact us at F&A. We can help you eliminate a substantial portion of your debts and stop the repeated requests for payment. Once we are working for you, the harassing calls stop, the letters stop, and you get a chance to feel freedom from stress and financial pressures.

Freedom through negotiation. It’s a WIN/WIN situation.