Commercial Debt Counseling is a process of analyzing the debt situation of your company, e.g. history and the goals of the company, with the aim of mediating between you and your company's creditors to begin reconstruction of your company, giving you the freedom to get on with your daily business.
The right counseling allows you to set up a budget that your company can afford, with this you can decide who you are going to pay, how much you are going to pay and when you are going to pay. In this way everyone gets a bit and you continue to do business and when your business turns around you can increase payments and get out of debt faster.
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When we compare CDC to bankruptcy we can clearly see the benefits of CDC, e.g. bankruptcy will be very stressful as it will involve attorneys, which will be expensive, also going to court, which a waste of your valuable time that could be spent at your business, what would be better is an out of court solution.
It can take a year or more, which will put you in more debt, at the same time you will have to turn over the business to court appointed trustees, which can eventually cost you your business because of tighter bankruptcy laws. If that happens you might want to start another business but guess what, filling that bankruptcy earlier will affect your credit rating for a long time to come.
In some cases bankruptcy might be the only option, but when you do have options you should utilize them before considering filling chapter 11 bankruptcy.
So before go you take an action on your business debt situation why not talk to people who have the knowledge and experience to help you over these trying times.
Why not talk to them about restructuring your business, about dealing with your creditor for you and in the meantime they will be improving your cash flow allowing you to get back on your feet.
If your business is in debt and you are thinking about bankruptcy as your only hope then think again. Business Debt Consolidation is another alternative to bankruptcy as it is there to provide help for your struggling business and to provide your creditors also with the alternative of taking you to court and paying attorneys more than what they are owed by you, but it is the principle of the matter so they will do it just to prove their point and make an example of you.
Business Debt Consolidation provides another way for them to get their money from you, but the neat thing is that you provide a budget that you can afford to pay them from your business, which will keep them off your back and stop them from sending you those dreaded red letters. They work with you and your creditor and on your behalf, they do all the work in reconstructing your business by helping you maintain a good working relationship with people your business depends on the most, e.g. suppliers etc and leave you free to get on with your life.
When there are no options then you do what you have to do to survive, but when there are options as there usually always are, explore them. When you don't know you can't do, but now you know that there are options, that is the time to take action, decisive action.
Get help and advice from the people who know, from people who can save you a great amount of money. These are a team of people who have helped businesses and individuals for about 15 years now, with the founders being involved in business for more than 35 years and have been on the internet for almost 10 years now providing help to thousands of people. They have also settle $250 million in debt in just less than 10 years.
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
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