Under California law, a consumer debt is a debt incurred by individuals in the course of their daily living.? Thus, it is not based upon transactions between businesses. A medical debt or personal credit card debt would be considered a consumer debt.
Any debt incurred between businesses is a commercial transaction only and thus a commercial debt under California law. A California business attorney such as Sagar Parikh at Beverly Hills Law Corp., PC can help you collect a California commercial debt.
Commercial Debt Collection and The Law
There are different laws that apply to commercial debt collection under both California and Federal law than apply to consumer debt collection.?
Commercial debt collection can involve collecting monies owed for unpaid invoices, monies for services rendered, or other types of business debt.
In an environment where more and more Los Angeles area small businesses and California small businesses are defaulting on promissory notes, defaulting on contracts, and unable to make regularly scheduled payments, a business owner needs an aggressive business and commercial attorney that can help collect this commercial debt in California, whether by using an aggressive demand letter or by filing a lawsuit.
Get Help From an Experienced Commercial Debt Collection Attorney
At Beverly Hills Law Corp., PC, we are a Beverly Hills commercial debt collection and business law firm that services the entire Los Angeles and California area and help small business owners get the money they deserve from other businesses.
Please contact us now for a free consultation.?Back To All News