In a business litigation lawsuit, Asset Acceptance LLC has agreed to a $2.5 million civil penalty and to make changes in their organization that will protect consumers. Michigan-based Asset Acceptance is one of the largest purchasers of old debts in the United States and was accused of improper activity when attempting to collect on those debts. The government alleges that the company collected on "zombie" debts without letting customers know that they were not actually enforceable by law. The business practices settlement requires that Asset adopt new business practices to include proper protection for customers in addition to investigating customer debt disputes.

When the customer agreed to pay or even made a promise to pay the debts, they may have unwittingly reset the clock on the statute of limitations on their debt. The government also alleges that Asset did not investigate people's claims that they didn't owe the debt or were the victim of identity theft as well as consumer claims that the debt had already been paid. Asset is also accused of reporting negative information to credit bureaus about consumers even with the knowledge that a debtor had not received a notice of fact. Consumers sometimes only learned that Asset had reported them when they applied for a loan.

Support of efforts to unionize graduate research students allegedly led to the dismissal of a University of Michigan graduate student. The woman told local newspapers that she feels the need to protect the university's research assistants. According to the woman, her support of the union for graduate students ultimately led to losing her research funding and being discharged from her academic program. She claims it was a wrongful discharge.

A school spokesperson confirmed that the issue was an academic one, and that the school would not be publicly commenting. However, he did state that certain claims made by the union are untrue. The woman worked as a research assistant in the College of Engineering until her dismissal.

As a 2012 resolution, businesses and notaries across the state of Michigan may want to consider reviewing a new package of laws that could cause big legal problems if they are not followed. The National Notary Association says the eight new state laws, which became effective on the first of the year, establish harsh legal consequences for illegal notarizations in mortgage lending.

The new laws were created in response to an increase in real estate fraud and forged documents amidst the robo-signing crisis that occurred across the state and country. The regulations put the pressure on Michigan businesses that want to avoid costly litigation and other legal repercussions.

For many businesses, dealing with real estate transactions is a part of everyday business. Companies that own retail stores are often seeking new property to purchase in order to expand their business.

But for a number of different reasons, some companies may need to sell property as well. This process is rarely simple and involves many steps that can include negotiations, drafting contracts and researching different aspects of the transaction. Sears Holding Corp. may soon be handling a number of real estate transactions after announcing the closings of nearly 120 Sears and Kmart stores.