Lawyers Who Solve Serious Debt Problems

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California Business Debt Defense Attorney

Featured Case Results

  • Cab Company Client: A claim by a payment processor was being made against our client, a Cab Company. The amount of the claim was $17,701.56. We settled it for $4025.40 in payments.
  • Business Investment Loan: $88,000 judgment from 2011 settled for $41,480 (OCSC case# 30-2011-004969XX)
  • Commercial lease settlement: Client had a 2010 judgment for unpaid retail lease payments that had grown to $165,600. We settled this for $28,000 in payments! (OCSC case# 30-2009-003173XX)

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DISCLAIMER: Every case is different. Results depend on the unique law and facts of each case. Fitzgerald & Campbell, APLC makes no guarantees or warranties about the outcome of any particular matter or case. The Fitzgerald & Campbell, APLC website, or the information contained within the website, should be construed as ATTORNEY ADVERTISING

Who Owes a Business Debt?

The first question on business debts is: who is the debtor? Is it you or the business or both? If you, as an individual, obtained the credit, or personally guaranteed the payment, then a claim can be made against you personally, regardless if it was for business purposes or not. If your business is a sole proprietor or partnership, you can be held personally responsible for the creditor’s claims. If the business was/is a duly authorized and properly maintained corporation or LLC and the business, in its own name got the credit, you cannot be held personally responsible.

What is a Business Debt?

Business debts are what you think they are: debt obligations incurred on behalf of the business. Typical examples are tools, supplies, inventory that are purchased in order to operate the business. Gifts bought for your wife on company credit cards are not business debts, but gifts bought for suppliers are. Some purchases are not as easy to classify. For example, auto expenses are a common area of crossover between business and personal.

Why is it Important to Determine if Business or Personal Debt?

The law treats each type of debt differently. The laws prohibiting collection abuses do not apply to business debts. These laws only apply to “consumer debts”. Therefore, other than generic laws prohibiting harassing conduct, there is no limitation on when or how many times a collector can call on a business debt.

FITZGERALD & CAMPBELL can help you to determine what  is a business debt,  if  you are personally responsible for any particular debt, and how best to resolve that account in the most affordable way.