Innovative Form of Business Debt Management Saves Thousands
As any business owner knows, being sued can be a stressful,
time- consuming, and expensive experience. In fact, it can be
absolutely devastating for a business, leading to financial ruin
and even bankruptcy.
Add to that the public's knowledge of your company having to
defend itself in court, and a lawsuit can also have a highly
detrimental effect on the attitude of your suppliers, bankers,
associates and employees. Such damage to your company's
reputation can hurt every aspect of your business, right down to
your bottom line.
Fortunately, there is a sensible, effective, and money-saving
business debt management approach to resolving tough legal
situations out of court. What I'm talking about here is
mitigation; having a third party come in and help find a
peaceful, fair, and much lower cost resolution. When a vendor or
supplier doesn't keep their promises, resulting in a volatile,
non-communicative struggle between companies, what you need is
someone to fight your battles for you, saving you long court
battles and thousands in legal fees.
Not convinced that third-party resolution will work? It does. In
fact, this civil negotiation typically reduces the business'
amount owed by an average of 30% to 70%. Considering that the
average attorney's fees can run anywhere from $10,000 to
$100,000 or more, that's a considerable amount of money.
Time is very important element in these situations. The sooner
you enter negotiations, the greater the opportunity for a more
favorable settlement on your behalf.
The duty of a third-party business debt management specialist is
to complete an out-of-court settlement that meets your
satisfaction. Many of these firms charge no by-the-hour fees,
and no fees for administrative costs. Plus, in the unlikely
event that no satisfactory settlement is reached out of court,
many firms will charge you nothing.
What's more, these people are not lawyers. They are seasoned
professionals trained with strategies to save you time and
money. A business debt management specialist can save your
business tens of thousands, and save countless man hours.
If your company becomes involved in a legal struggle, you really
have nothing to lose and everything to gain by using a civil
negotiator to obtain a reasonable settlement.