The Best Time of Year to arrange a Business Debt Settlement?

November 10, 2011 by  
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As we approach the year-end, this can be the best time for your company to work out a business debt settlement.  No firm likes to carry delinquent receivables into the New Year, especially when it coincides with the accounting year-end. It’s an established fact that the longer a company has to wait for a B-to-B receivable, the […]

Struggling to Stay Afloat, but want to Pay All your Business’s Creditors in Full?

October 26, 2011 by  
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I was speaking with an entrepreneur this week who is struggling to stay afloat, but wants to pay all his business creditors in full.  It’s an admirable goal, given his situation.  But it’s wishful thinking. If he holds this course, without being able to immediately boost his declining top line, he’s likely to go down like the Titanic.  And that’s […]

Should you file for a Business Divorce?

September 3, 2011 by  
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Sometimes, you just have to file for divorce from your troubled business.  Unless, of course, you are tempting fate by operating as a sole proprietor or partnership.  Or if you don’t have a business pre-nuptual agreement in place.  This means that you may have signed personal guarantees up to the hilt.  So if your company goes down the tubes, you go with it. In […]

Emotion is an Enemy of Business Debt Settlement

July 29, 2011 by  
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The collector called to tell me just how much he thought of our business debt settlement proposal.  “We’re insulted”, he spat.  Here we go again, I thought. Business collectors deal with debt as their bread and butter.  They have to be objective and know something about the company being hounded.  And they should take time […]

Put your Business Debt Settlement Offer in Writing

July 12, 2011 by  
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A common mistake made by business people, when attempting to settle business debt, is that they don’t put the offer in writing.  There are so many good reasons for doing so. You have to set the scene and tell an honest, effective story.  You know that there’s  a reason why you just cannot pay the […]