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Banking & Business Transactions Archives

How do foreclosures in Tennessee generally proceed?

Lenders in Tennessee issue mortgages to homeowners with the expectation that the home loan will be paid back on time with interest. Unfortunately, some homeowners do not meet this obligation. When a lender is not receiving what they are due on a mortgage they issued, they may need to initiate foreclosure proceedings.

Helping Tennessee businesses and lenders reach their goals

The financial transactions between borrowers and lenders in Tennessee is an essential component of our state's economy. When businesses can secure financing, they are able to grow and expand their operations. Then, when they pay back the loans, the lenders secure the financial resources they need. In the end, financial transactions between businesses and banks benefit both parties and the state as a whole.

Debt collectors in Tennessee have options to recover debts

Lenders in Tennessee naturally expect that when they issue a loan, it will be paid back. Unfortunately, things do not always run so smoothly and, sometimes, lenders must work with debt collectors to recover debts. Therefore, it is important to understand what debt collectors can and cannot due.

Tennessee businesses can benefit from an exit strategy

Many entrepreneurs in Tennessee looking to start their own small business will first establish a business plan. A business plan can address many important topics regarding how the business will be run and what role the owner will play in it. This can be important not just for the day-to-day operations of the business but also to outline the direction of the business in the future.

What steps can lenders take to recover debts?

Many people in Tennessee carry some sort of debt. It may be a mortgage, a car loan or credit card debt, to name a few. While most people dutifully pay back their debts, there will always be some that do not make the required monthly payments on their debts. When this happens, lenders may work with debt collectors to try to recover what they are owed.

Lenders have options to try to recover debts

Banks and other lenders in Tennessee are in the business of loaning money to people, with the expectation they will be paid back what they loaned plus interest. Unfortunately, for a variety of reasons, sometimes, debtors do not make the required payments on their loans. This can hurt a lender's bottom line, so lenders need to be proactive and take steps to try to recover what they are owed.

Businesses in Jackson can be structured in a variety of ways

There are many decisions that need to be made before a business can open its doors. One of these decisions involves choosing the type of business structure that best meets your needs. Our readers should consider the financial and legal aspects of various types of business structures before proceeding.

What is the general timeframe for the foreclosure process?

When lenders in Tennessee issue mortgages, their businesses depend on homeowners making payments on time and in full. So, if mortgage payments are missed, this can result in a difficult situation for the lender. Eventually, if a homeowner fails to pay their mortgage, their house will be foreclosed upon. The following is a brief overview of foreclosure process.

What options may creditors have to recover debts?

When a bank issues a person a loan, such as a mortgage or auto loan, they do so with the expectation that they will receive the amount loaned back plus interest. Unfortunately, for a variety of reasons, a debtor may fail to uphold their end of the agreement and will default on the loan. When this happens, creditors in Tennessee may need to turn to the court in order to obtain what is owed to them.

Entrepreneurs have choices when starting a business

Many people in Tennessee have an entrepreneurial spirit, and may wish to leave the rat-race behind and start up their own small business. While being a small business owner can be highly satisfying, it is important that those who wish to start a small business do their research and choose the business type that will best suit their needs.

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To discuss your specific situation and to learn more about how we can help, call us at 731-300-1592 or submit an inquiry via our online contact form.

Spragins, Barnett & Cobb, PLC
312 East Lafayette
Jackson, TN 38301

Phone: 731-300-1592
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