Business Debt Consolidation FAQ
If I restructure with a commercial debt counseling company how will this solve my finances quickly?
By dealing with a commercial debt counseling company like ours you will eliminate the burden of dealing with collection agencies and creditors. Your company will receive a brand new start by minimizing your outstanding debt by as much as 75 percent without the costs or negative impact associated with litigation or bankruptcy. It works like this, the delinquent business debts that you submit submit to us will be consolidated into one single monthly payment plan that you can handle. This frees up important cash flow as well as frees up your valuable time for your business.
When should I restructure my business related debts?
When your business cash flow is so low that you cannot pay your monthly bills. This can happen if your business is seasonal or you are just experiencing a very slow period, or if your customers are paying their accounts receivable late. Whether your difficulties were caused by losing some important clients or a recession, which we are in, we can provide a an alternative without additional financing, or the need for any personal guarantees. If you are planning to sell your business, a business debt counseling program will help restructure your debt and will add significant value.
Can I simple broker my own deal with my creditors?
A commercial business debt counselor will get you out of debt with your creditors faster and more effectively than you can on your own. Almost all creditors would rather deal with a fully bonded intermediary who will assure them that the business in question has a realistic plan to gain back it’s financial health, that is fair and equitable to all participating creditors. We also can help stop any late charges, get over the limit fees and high interest charges waived.
How can your company satisfy my creditors with seemingly small monthly installment deposits?
We will present your creditors with flexible options that range from an immediately reduced settlement payment to a deferred installment full payment. The final settlement and payment are dictated solely by the time frame a creditor is willing to give you. More importantly to you is that the mediation of a realistic restructuring solution, to satisfy your creditors, is always based on options within a budget that your business can currently afford. This is achieved through the disclosure process during mediation, that again compels cooperation.
What kind of debt does your company work with?
We can work with any creditor that you are behind in payments with and have fallen 90 days past due, any debt that has been turned over to a collection agency or collection attorney. Our attorneys will also handle pending lawsuits and judgments at a fraction of the cost of attorney’s locally.
What if a creditor refuses to settle and sues’ me?
We are 95% successful in achieving a reduction in negotiating with creditors. However, in some situations creditors or their attorney’s will not negotiate a reduction. In these cases we negotiate a payout plan within our clients financial capabilities. Full payment plans are only done with our clients pre-approval or request