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A pair of $1,890 first class tickets to Hawaii for him and the school's assistant principal, a $6,700 for a trip to Michigan, several nights in $400 hotel rooms and $5,700 in flowers also found their way way into the invoices. Because of Fehte's, and other El Camino administrators', extravagant spending habits, the Los Angeles Unified School District issued a warning about the school's exceedingly high use of credit cards. A Daily News investigation followed, revealing Fehte's particular eagerness to spend public money on private expenses. "He used a school credit card to pay for personal expenses not one, but many times, among other abuses,"said Marlene Widawer, an El Camino parent, to the school's board, according to the Daily News. "And I have news for you: this goes beyond a simple mistake... His behavior shows a pattern of abuseone that cannot be tolerated." Due to the abuse, LAUSD downgraded El Camino Real's charter school financial rating from a 4 to a 1.

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It makes no difference if you've made an ?S? election for your corporation. Obviously, the first option in trying to save a business while managing its debt is taking money out of your own pocket and putting it into your business. If you do not and the IRS later rules the debt is only partly worthless, you will not be allowed a deduction for the debt in that tax year because a deduction of a partly worthless bad debt is limited to the amount actually charged off. Contact them on 0300 200 3835.  So, they may be used to pay the debtor's creditors. If you've been sniffed for larger amounts of money, you'll need to file in civil court. There are no U.S. federal laws, similar to the FDCPA, that regulate third-party commercial business-to-business debt collection or provide guidelines for the conduct of commercial debt collectors. To learn more about when you might be responsible for the debts of your business, see  Are You Personally Liable for Business Debts? If both sides agree to arbitration, the decision is final.

So, if the FDCPA does not apply to commercial debt collection by third parties, how are commercial collectors regulated? In contrast, loans are not securities and do not have cusps or the equivalent. Some states do not allow the organization of lacs for certain professional vocations. By filing for Chapter 13 bankruptcy, you are allowed to make a repayment plan, based on your income, and still get the protection of the court. Hire a collections' company. If your company or business has been in the red for a while, and you cannot seem to be able to pay off your business debts, your creditors may start looking for money. You will be sent a ?determination?.  Once you have filed for bankruptcy, the bankruptcy court normally puts an automatic stay on all debt collection, meaning that none of your creditors can foreclose on or repossess your property. A: The filing of a bankruptcy petition is a lot like filing a lawsuit in the sense that the act of filing simply starts a legal proceeding without any guarantees of the outcome. to learn more about figuring out whether you are on the financial hook for what your business owes.

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