The cost of owning and operating your own business is high, and sometimes it can be extremely difficult to meet the financial demands that come along with it. You, like many other California business owners, may find yourself in a position in which you can no longer make payments related to your daily operation and business-related debts.
One of the most unfortunate consequences of a medical emergency is the onslaught of exorbitant bills that can follow. Medical debt is one of the most common types of debt, and it can have a negative impact on a person's overall financial health. If your medical bills have wiped out your savings, and you find yourself facing calls from California debt collectors, you have options.
Many people who stop paying their credit card bills and other debts eventually find themselves at the wrong end of a lawsuit. The creditor or perhaps a debt buyer after collection attempts such as phone calls and threatening letters fails to bring in payment from the borrower decides to file a lawsuit for money damages. These collection lawsuits are very common and the Judgments from the lawsuits are enforceable in California for 20 years.