A collection agency is a business that pursues payments of debts owed by individuals or businesses. Most collection agencies operate as agents of creditors and collect debts for a fee or percentage of the total amount owed.   There are many types of collection agencies. First-party agencies are oftentimes…

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The problem with peer-to-peer lending

  Mark Gimein has an important story today about Prosper, which is required reading for anybody — myself included — who has some hope about peer-to-peer lending helping to disintermediate banks and get credit flowing again to individuals and small businesses. Prosper was one of the first companies to market…

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Bankruptcy Law Changes

  It has long been suggested that struggling small businesses have little potential to reorganize by virtue of traditional Chapter 11, which was designed more for manufacturing giants than the local diner. Typically, attorney costs, large creditor leverage and the administrative drains on management overwhelm and ultimately doom a small…

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