Hemp law confusion can hinder collections efforts

1. Hemp Law Confusion Can Hinder Collections Efforts With holdout states on the legalization of all things cannabis related it is no wonder that the laws surrounding it and it is more versatile friend, hemp, are vague at best. The number one reason for confusion and delay is that it is still illegal under federal law. Some states have relaxed their laws on growing hemp to the point of ignoring them all together. That is fantastic for the economy as hemp has more earning potential in today’s market than ever before. Hemp, with its concentration of THC at about 1%, has been used in multiple industries: Textiles Paper Ropes and Rigging Beauty supplies The biggest confusion around hemp itself is the reason for its illegality. Unlike marijuana, it does not have a psychotropic effect. Its primary functions seem to lie in the industrial market. Different states having different laws (Texas law is very specific in its allowance for a prescription for neurologic purposes only) and it still being a federal no-no the waters surrounding hemp growing are very murky. Due to federal regulations, growing hemp is a risky investment. It can leave the growers in debt and possibly bankrupt. Their investors have one of two options. They can let it go, or they can try to recoup some Related imageof their capital investment monies. A debt collection agency is a logical place to turn. There are a lot of debt collection agencies and they typically have multiple areas of focus. There is only one recognized agency in the U.S. with a singular focus on cannabis and hemp law and that is CannaBIZ. They do everything from counseling potential investors to recouping losses from poor investment practices.

2. At the moment, laws surrounding hemp is mercurial. At any time the federal government can overturn state guidelines surrounding growth of hemp crops thus rendering growers with no income and investors stuck eating the loss. Why is Hemp Illegal to begin with? The concentration of THC is so low that it really does not make sense. It has so many uses in the above-stated industries and it is a renewable resource. States that have been bullish about “pot” have never been bullish about hemp. The reasons for its illegality being opaque make it all the more difficult for companies to recoup their financial losses. CannaBIZ being the only agency with nationally licensed attorneys makes it easy to have a one-stop legal shop from start to finish. Is Hemp a Worthwhile Investment? Organic and all-natural products are huge right now. If you have not looked at the health food selection at your local grocery store you should. Chances are it has gotten bigger and the products do not look as unappealing as they once did. Next check out the beauty section. If you have not treated yourself to something fancy for your hair or skin you can probably find a hemp moisturizer or twelve. Hemp could really do a lot for the economy and while you may find hemp milk at a local market store and those hemp moisturizes there are many retailers who simply will not take that gamble. As such, there is no clear answer. It is not a lack of interest or market but the fear of making the investment and a law upending it. Articles efforts/ Source: http://www.andreaamara.com/hemp-law-confusion-can-hinder-collections-