SOLUTIONS - QUESTIONS AND ANSWERS
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. The Debt Settlement Companies are here to help.
Will my credit be hurt if I use an 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 payment.
What
if I get an attorney to handle my account?
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.
Is bankruptcy
my only alternative to get out of debt?
Bankruptcy is NOT an alternative
- it is a last resort! When you file for bankruptcy, you lose
control of your company in a reorganization type of bankruptcy. Less
than 20% of companies who file a Chapter 11 ever come out
of it because their attorney becomes their largest creditor.
What are
my options with my business in debt difficulty?
There are two options. You can stay
where you are and accumulate more debt and stress, or you can
settle your debt with a debt manager such as The Debt Settlement Companies. The
choice is yours!
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