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Mark S Britton

Mark Britton’s Answers

139 total


  • PERSONAL & BUSINESS CREDIT CO-MINGLES

    I HAVE CO-MINGLED MY PERSONAL AND BUSINESS CREDIT TO START & MAINTAIN THIS BUSINESS - I MIGHT NEED TO FILE FOR BANKRUPTCY - ON MY BUSINESS - CAN I FILE FOR BOTH?

    Mark’s Answer

    Your question is a bit unclear. If your business debts have exhausted your business and personal assets, then you may file for both. If you have exhausted your personal assets, but your business is otherwise healthy, you may not file for both.

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  • How to end a 5 year business lease?

    In September 2006, I purchased an 18 year old retail gift business in an excellent location (downtown by the water). I signed a 5 year lease for the retail space, with $200 to $400 monthly rent increases each year. When I signed the lease, the str...

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a FL lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area.

    From these facts, it will be hard to get out of your lease bc the landlord has not acted in any way to diminish the value of the lease. Still, there are a lot of creative landlord/tenant lawyers out there that may be able to review your lease and find you a way out.

    Here is a link to the top Avvo-rated landlord/tenant lawyers in your area that could help you. I would contact 3-5 of them and I am confident that one of them can help you.

    http://www.avvo.com/search/lawyer_search?q=landlord&loc=tampa%2C+FL

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  • Debt/marriage

    i have a few bad marks on my credit, if my fiance` & i get married does that mean she is also marrying my previous debts? would anyone be able to go after her house to compensate my debts?

    Mark’s Answer

    Here is a great article that answers your question better than I could.

    http://www.360financialliteracy.org/Life+Stages/Couples+and+Marriage/FAQs/Credit+and+Debt/Im+marrying+someone+with+bad+credit.++How+will+this+affect+me.htm

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  • Business credit cards

    My business partners and I started a LLC in Florida about a year ago. I took out 3 credit cards and one line of credit for the business. When I took out the credit cards and credit line I was told by the banks that the credit cards would only affe...

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a FL lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area, even though the state law of the credit card issuer may be controlling.

    It depends what it says in the credit agreement. Most small business credit cards require a personal guarantee, which means the bank can come after you if the business fails. There are some credits lines and cards without the personal guarantees, but I am guessing yours are not those. If the bank told you something different when you took out the line and cards, then you may have a misrepresentation issue. But pursuing such an issue against a bank would be time consuming and expensive - especially if you do not have written evidence of them telling you that you would not have personal exposure on the credit.

    Here is an interesting NYT article on the subject:
    http://www.nytimes.com/2008/09/11/business/smallbusiness/11sbiz.html?pagewanted=print

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  • RETAIL STORE BANKRUPTCY

    I HAVE MORE THAN ONE RETAIL STORE - CAN I CLAIM BANKRUPTCY ON JUST ONE?

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a CA lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area.

    The answer to your question depends on the ownership structure for the two stores (and to a lesser extent how they are run). If one store is a stand-alone, limited-liability entity (e.g.,corporation) with no comingling of assets, books, etc., you should be able to claim for just one. If you do not have separate limited-liability entities in place, then it will be hard. Even if you have two separate entities, but you essential run them as one, that will also hamper your ability to claim for just one.

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  • Maturnity leave and insurance being cancelled

    i went on maturnity leave for a 12 week period half way through my laeve my health insurance was cancelled without me knowing it i returned to the job for 1 day after my leave was over and decided that it was not going to work out i did not know ...

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton and I am the CEO at Avvo. I am also a lawyer. Bc we are not in ND yet, you may not get a response from one of our loyal Avvo lawyers. Still, I wanted to offer some help. Please keep in mind that I am not a ND lawyer, and to get a definitive answer on this you should consult a lawyer in your area.

    In ND, breach of contract claims (which is what this is) generally has a six-year statute of limitations. So, you should be fine there. But the bigger issue is what the contract/agreement was bt your employer and you. Doesn't sound like your company is big enought to trigger the Family and Medical Leave Act. Did you ever discuss whether your healthcare benefits would continue during your leave? Was anything ever put in writing?

    If you have some evidence of their obligation to pay your health insurance during your leave, then you will probably have a case. The question is whether it is worth the time, money and effort to pursue. Your claim is too large for ND Small Claims. Here is small claims info for your area:

    http://www.ndcourts.com/court/forms/small/forms.htm

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  • Homeowners insurance claim denied

    My house has stripped of copper and my insurance is refusing to pay for it. I have vandalism coverage so they will cover the broken window& door used to gain entry as well as 1/2 hour labor for every visible cut on the pipes left behind but for no...

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a MN lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area.

    Having fought a number of corporate insurance claims myself, I think it is a question of how much effort you want to put into it. The lost pipes sound like theft, rather than vandalism. You should look at your insurance contract for the definitions of each. If you feel strongly that it is covered by the vandalism provisions, you could file a small claims lawsuit. But my sense is that it is not going to be worth the time or the effort. Below is a link small claims procedures in your area

    http://www.mncourts.gov/selfhelp/?page=313

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  • Sick time

    How many days can an employee be out sick before an employer can terminate or at least ask for a doctors notice in MN?

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a MN lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area.

    Typically, there aren't any legal guidelines that mandate the use of sick time or doctor's notices. Sick time, like vacation time, is a matter of policy developed and enforced by the company. Same with doctor's notices. You should consult your employee handbook to see what the sick leave policy allows and doesn't allow.

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  • Home Loan

    Can a preapproval for a loan be given with an interest rate of 6% then that rate no longer be offered duringthe accpetance ofthe loan?

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton and I am the CEO at Avvo. I am also a lawyer. Bc we are not in SC yet, you may not get a response from one of our loyal Avvo lawyers. Still, I wanted to offer some help. Please keep in mind that I am not a SC lawyer, and to get a definitive answer on this you should consult a lawyer in your area.

    Anyway, typically, until you accept a loan offer, the terms of that loan can change at anytime. It does not matter at which rate you were approved.

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  • Vacation vs. sick time

    My employers offers paid personal time and vacation time. Are the definitions for each so specific that I could not use my vacation time once I have exhausted my personal time?

    Mark’s Answer

    Thanks for using Avvo. I am Mark Britton, the CEO at Avvo. I am also a lawyer. Bc we are receiving so many questions right now, it may take longer for some of our loyal Avvo lawyers to get back to you. In the meantime, I wanted to offer some preliminary help. Please keep in mind that I am not a CA lawyer, and to get a definitive answer on this you should consult a top Avvo-rated lawyer in your area.

    The simple answer is no, there aren't any legal guidelines that mandate what is personal vs. vacation time. Personal and vacation time are matters of policy developed and enforced by the company. You should consult your employee handbook to see what the leave policy allows and doesn't allow.

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