Levelset

JULY 5, 2022

In contrast, a mortgage is a voluntary lien , because you sign papers giving the bank a lien on your property until you pay off the balance and interest. Credit bureaus can collect public information from state and county courts, including bankruptcies. Overdue debt that has been sent to collections also influences your score.

Lien 96

Lien Legal Bankruptcy Claims 96

Pro Builder

OCTOBER 12, 2022

Just like your personal credit score, your business credit score indicates whether you’re a good risk for paying your debts or not. Like a personal credit report, your business credit report allows prospective lenders to assess your risk level as a borrower. Lessons Learned From Previous Housing Market Disruptions.

Debt 52

Debt Finance Risk Bankruptcy 52

NH Construction Law

OCTOBER 22, 2023

Worse, a lawsuit against the general contractor or subcontractor for breach of contract after abandonment of the project will almost certainly be futile; the default on its loan usually signals that it won’t be able to pay a judgment and is probably headed for bankruptcy. Reading Cooperative Bank v. Suffolk Construction Co. ,

Security 40

Security Contract Accounting Construction 40

Contractor Bookkeeping

AUGUST 6, 2014

You Want Money; Banks Want To Lend Money, What''s The Problem? Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money. Banks stay in business is by loaning money and earning interest. The Risk Management Association (RMA). A Bit Of History Helps With Understanding.

Finance 48

Finance Accounting Construction Banking 48

Levelset

SEPTEMBER 16, 2022

There are five primary reasons why contractors need completed operations coverage: Protects company assets Prevents bankruptcy or business failure in the event of costly damage Provides evidence of financial strength that may assist in closing deals Satisfies bank loan requirements Protects the public by covering damage or injury to third parties.

Insurance 52

Insurance Liability Claims Contractors 52

Contractor Bookkeeping

MARCH 7, 2013

He was not aware of the extent of the problem because the bookkeeper hid the bounced check notices and intercepted the phone calls from the bank, the angry merchants and suppliers by applying for new credit cards in the contractors name to finance the house of cards. At that point he knew something was very, very wrong.

Cash Flow 49

Cash Flow Contractors Banking Accounting 49

Contractor Bookkeeping

JULY 27, 2012

Bad Numbers - Lead to bad decisions / cash shrinks / business unstable / bankruptcy or failure. Bankruptcy - Result of saving money on bookkeeping and making decisions on garbage reports. Delayed Payment - A tourniquet applied at the bank balance of any contractor who will allow it. Rich - Income exceeds outgo.

Contractors 63

Contractors Cash Flow Construction Accounting 63