The threat of a business debt lawsuit is very real when your company owes a hefty balance. A business debt specialists may suggest bankruptcy as a solution, but that is far from the only path you can take. If your debt includes unsecured lines of credit, our team of advisors and debt specialists can work with your creditors to find a solution that meets your needs.
On the other hand, with an unsecured line of credit, there is no collateral. It is still a contract, though, and if you do not pay, you will likely find yourself in business debt breach of contract. It is important to note that unsecured lines of credit may have higher interest rates than secured lines of credit due to the lack of collateral. They are more flexible than business loans, however, as you only use as much as you need. For example, if you are approved for an unsecured line of credit for $100,000, and you only need $10,000, then you only owe the $10,000 utilized from your line of credit.
Just like with any kind of debt, it is easy for things to spiral out of control. If you borrow against your line of credit to make ends meet and your business does not bounce back the way you expect, you may find yourself in default. If you default, you will be faced with aggressive creditor phone calls, or worse, a lawsuit.
There is no reason to panic, we can work with you and your creditors to come to a business debt settlement, or to restructure your business debt. With a debt settlement, you pay your creditors less than you owe, the debt is then considered settled, and your creditors will not pursue any further legal action. With a restructure, we will work with both your creditor and you to find a repayment plan that meets creditor expectations, while keeping your business afloat.
We are a team of financial specialists. We help you with your debt and begin working on day one. Our team of debt and financial specialists will help consolidate, restructure or settle your debt.
Regroup Partners provides business debt solutions to businesses of all sizes that aid in the mission to ultimately ensure peace of mind to business owners in a time of distress.
