Will my reputation as a business owner be ruined if I seek a debt arbitrator to negotiate with my creditors?
Your reputation will be ruined only if the mounting debt of your business is allowed to continue to grow and your company fails, leaving you and your creditors with nothing. Your honest effort to settle your debts can only enhance your reputation. Full Spectrum Debt Solutions is here to help.
Will my credit be hurt if I use a professional business debt arbitrator?
Strained relationships and credit can be repaired with creditors by bringing truth and integrity to the settlement process. All settlements are labeled and characterized as PAID IN FULL.
Are creditors willing to accept what I have to offer them?
Creditors are having the same difficulties as other businessmen in these troubled economic times. They need cash flow just as much as you do. They are willing to make accommodations and appreciate your efforts to provide a lump sum of immediate cash rather than long, drawn-out, sporadic payments.
What if I get an attorney to handle my accounts?
In debt matters, attorneys can buy you time and maybe reduce the amount of money you owe. The time he buys you usually costs you more money in the long run, because you can pay up to $200 per hour, which compounds your debt and generally eats up any savings you may currently have.
Is bankruptcy my only alternative to get out of debt?
Bankruptcy is NOT your only alternative. In fact, we feel it should be your last resort. In fact, in a reorganization type of bankruptcy, you will actually lose control of your company. Less than 20% of companies who file a Chapter 11 ever actually succesfully come out of it, because their attorney becomes their largest creditor.
What are my other options when my business is facing debt difficulty?
You can either stay where you are and accumulate more debt and stress or you can settle your debt with a professional business debt settlement company, such as Full Spectrum Debt Solutions. The choice is yours.
Our mission is to help as many businesses and consumers as possible with their current financial hardship, likely worsened by the current Coronavirus (COVID-19) Pandemic.