Archive for the ‘ Misc ’ Category

Selling your business is a life-changing event. While most owners once dreamed about buying their business, the decision to eventually sell can be brought on by a variety of factors, including a change in location, finances, or lifestyle. Whatever the reason, sellers should be aware of online resources that can make the transaction more efficient and effective. Continue reading Part 3 of 7: Four keys to selling your business online

Before discussing the results of the test, let’s review what we were testing. In November 2007, 74 loans that would have been included in the December Debt Sale were selected for a test of applying a legal collections strategy. These loans had an outstanding principal balance of approximately $705,000. They were placed at Hunt & Henriques, a prominent California debt collection law firm.

Once placed with the firm, these accounts were sent a “demand letter” stating that the balance would be accelerated in 30 days if an acceptable payment arrangement was not negotiated.  Continue reading The Results From the Legal Collections Test

When business owners make the decision to put their businesses on the market, they are faced with a number of choices on how to handle the process. For many, working with a business broker is the solution, while others choose to go it alone – but what should you know before selling independently?

The business-for-sale marketplace is filled with options. Continue reading Part 2 of 5: Going Solo: The Facts about Selling Your Business Independently

One of the key challenges in collecting on unsecured installment loans is providing the borrower an incentive to continue to making payments when they come under financial distress. If you don’t make a payment  on a credit card you can’t keep charging on it. In the case of a house or a vehicle loan, the lender can repo/foreclose on the secured asset. On an unsecured loan, the borrower has already received the funds – so there is no loss of utility when they stop paying.

One way Prosper has been successful incenting distressed borrowers to pay is by Continue reading Collections – Hardship Arrangement are Benefiting Lenders

Thinking about selling your business? If so, it’s important to know whether now is the right time to sell. For many business owners, waiting until the economy improves and preparing to sell instead, is a better option.

Selling a business is an important and often emotional process, with the possibility for high stress, high-stakes financial consequences and an overwhelming number of factors to consider. Every business seller, though, has one goal in mind: getting the best price. Continue reading Part 1 of 7: To Sell, or to Prepare to Sell?