A lien has the potential to negatively affect you and your company. But exactly what is a lien?
In summary, it’s a financial claim made against your company pertaining to a loan you’ve failed to pay in a sufficient amount of time. Both lenders and the I.R.S. are capable of filing liens. In the case of the I.R.S., the government agency can file a lien if you’ve failed to make back taxes payments. Meanwhile, lenders can file against you in an instance where you haven’t covered a loan. The negative effects are numerous if you receive a lien: You could find it hard to sell your business and any financial intake you have could take a hit. If you’re facing a lien, you’ll want to expedite the process of getting rid of it as soon as possible. So what are the first steps towards conquering a lien?