[Editor: I felt this guest post was very informative for readers and consumers to understand how a small business might decide to pursue people over debt.] Small claims courts are part of our legal system. They help resolve minor disputes without engaging in lengthy (and often expensive) lawsuits. For example, when it is clear that … Read more
The State of Connecticut took action against Extreme Marketing Alliance, Matt Graham, and Orlando Diaz for trying to sell a business opportunity program in the State. The State claims “Extreme Marketing Alliance LLC (“EMA”) is a limited liability company formed under the laws of the State of Nevada on March 8, 2016. According to records … Read more
Debt is crucial for business. It helps companies to maintain operations and propel growth plans. It keeps the economic wheels of our nation turning. As such, the government encourages entrepreneurs to take loans – and you can deduct loan interest from your income when preparing tax returns. But entrepreneurs can make mistakes. For example, such … Read more
Most of us have seen a 7-Eleven or a Speedway retail store but I had no idea 7-Eleven bought Speedway. FTC Orders the Divestiture of Hundreds of Retail Stores Following 7-Eleven, Inc.’s Anticompetitive $21 Billion Acquisition of the Speedway Retail Fuel Chain Proposed order prohibits 7-Eleven from enforcing noncompete provisions for franchisees or employees working … Read more
Trying to run a small business and dealing with the stress of keeping the business alive when things are not looking like they are going to workout is a nightmare. I lived through that many decades ago and it was not fun at all. There are few things much worse than facing calls and contacts … Read more
The Federal Reserve Bank of New York, in collaboration with AARP, today released a report, State of the Older Entrepreneur During COVID-19 that finds a sharp decrease in active business ownership among the 80% of small firm owners who are 45 and older. The report finds active business ownership for white owners 45 and older … Read more
Government is a giant bureaucracy and it doesn’t matter who is in or out of office. Sometimes things just don’t make any sense and there is no apparent need for logic. You can go hundreds of thousands of dollars in debt for student loans without any regard for your credit rating. Bankruptcy does not prevent … Read more
Yellowstone Capital has appeared on this site before for going after business debt settlement companies. See this post. It appears Yellowstone Capital, a Merchant Cash Advance (MCA) company has garnered a lot of attention from the State of New Jersey. The State has filed a lawsuit against Yellowstone Capital LLC, its parent company Fundry.US LLC, … Read more
Most everyone will agree that doctors, lawyers, engineers, etc. are careers with high income skills. But all of these require at least four years of college, if not more. Because these specialized skills need formal education, it’s understandable why they demand a high income. However, did you know there are skills you can learn to … Read more
The closure of many public establishments such as restaurants, movie theaters and clubs has forced many in the labor force to pursue jobs where you work alone without real human interaction. Yet, even before the pandemic, workers have increasingly turned to jobs that do not require physical attendance at an office. People who would rather work alone … Read more
COVID-19 is making rent a nightmare for local businesses. In Alignable’s latest Pulse Poll of 9,500 small business owners nationwide: 34% of respondents said they will not be able to pay May rent in full Of that 34%, 84% will only be able to pay half or less of the May rent With little-to-no revenue coming in … Read more
Back in the good old days of 2018, merchant cash advance companies started suing debt settlement companies that attempted to negotiate to resolve business debts. In fact, some business debt negotiation companies wound up settling the lawsuits. See this article. One of the merchant cash advance companies that were going after settlement companies was Yellowstone … Read more
Mary defaulted on an SBA loan with her husband over thirty years ago. Now widowed and 70, she recently received notice that the SBA authorized a garnishment of 15% or $165 from her only income, $1100 Social Security. Already impoverished, left with $435 after rent, she cried, “How can I pay for my medicine and … Read more
Even as states and cities allow more businesses to reopen, many entrepreneurs are anxious about doing so. Nearly half of small business owners worry they cannot afford to resume normal operations following mandated closures to slow the spread of COVID-19. New survey data from LendingTree shows 46% of small businesses owners cite funding as the … Read more
Despite the news that loan relief with extremely low interest is on the way, it’s unclear if it’ll be enough to save entrepreneurs hit hard by COVID-19. A new LendingTree survey of more than 1,200 small business owners found that 71% worry they’ll never recover from the downturn. Business owners are holding on by a … Read more