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The ALH Blog: General Business

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What is a Lien? And What does “Perfect” mean?

Creditor Rights Attorney A “lien” is defined as “[a] legal right or interest that a creditor has in another’s property, lasting usually until a debt or duty that it secures is satisfied.” Black’s Law Dictionary, 8th Edition. The most classic example of a lien is a mortgage. A person borrows…

Author: Allison Harrison

Do I Need to File a Proof of Claim?

Creditor’s Rights Lawyers If you are owed money by a person who has filed for bankruptcy, you must file a proof of claim in order to get paid during the bankruptcy. The law requires both secured and unsecured creditors to file a proof of claim. The proof of claim contains…

Author: Allison Harrison

Buying a Business: Asset vs. Stock Purchase

Business Acquisition Lawyers, Columbus OH Buying a business can be an exciting and scary time. It is important for every buyer (and seller) to understand what exactly they are buying. Business can be sold either assets only or the membership/stock. Before purchasing/selling a business, interested parties may find it beneficial…

Author: Allison Harrison

What is Mediation in Ohio?

Mediation is a process where a third-party, with no interest in the dispute, works to facilitate a resolution. This third-party member is known as a mediator. A mediator acts as a neutral intermediary between the parties, helping the parties come to a mutual agreement without the involvements of the Courts…

Author: Allison Harrison

Wage Garnishment vs. Bank Garnishment

Business Debt Collection Law Firm Columbus, OH Garnishments are used after judgment to collect on the judgment. There are two main types: Wage and Other than Wage (often called Bank) garnishment. Wage garnishments are served on the debtor’s employer and a percentage of the wage is withheld and sent to…

Author: Allison Harrison

Loaning Money From One Business To Another

If you are contemplating loaning money from one business to another, family members, or a friend, there are some basic things to consider: How will you be paid back? When? What happens if they do not pay you back? And it should all be in writing! When in doubt, consult…

Author: Allison Harrison