We Provide Nationwide Business Debt Relief
Lawscape provides nationwide business debt relief services. We work a wide array of lenders, service providers, and types of business debt. We are able to restructure and reduce, all types of secured and unsecured business debt.
Failing To Repay Business Debt Isn’t The End
Many business owners think failing to repay business debt means: your business is over.
This simply isn’t true. Business debt is a problem which CAN be handled, just like everything else; but only if you take pro-active steps. Lawscape helps you understand the law, and works with you to make sure that business debt isn’t the end of your business.
What Are Some Ways We Can Help With Business Debt Relief?
Our experienced business debt relief consultants are here to help you through this stressful time.
Handling Loan Debt Collection Like A Pro
Struggling with loan debt is nobody’s favorite pastime, right? Suddenly, you’re overwhelmed, wondering how you landed here in the first place. I hear you! I’m Lawscape, at Lawscape, and it’s one of the many challenges we help folks like you navigate.
The Unforgiving Cycle of Loan Debt
Picture this—you miss a payment, then two, then three, and before you know it, fees are piling up, and you’re sinking deeper. The worst happens, and you default. Suddenly, there’s a collection agency knocking on your door (figuratively, of course). If you’re not up to speed, being blindsided by these folks can feel like your worst nightmare come true. But here’s the catch—it doesn’t have to be! What if I told you there’s a way to handle this situation strategically?
Collection Agencies: Beggars Can’t Be Choosers
So how do you end up with a collection agency? Well, the bank or creditor you owe can either retain ownership of the debt or sell it to a collection agency. In both cases, calls, emails, and letters from the agency have probably become your new normal.
Their determination to recover the debt isn’t just annoying—it can be downright bullying. And no, ghosting them won’t solve anything. Instead, it’s time to pull up your socks and negotiate.
First Comes the First Call
Understandably, when we humans are faced with an intimidating or uncomfortable situation, we tend to avoid it (admit it—you’ve done it too!). However, hiding from debt collectors will only lurk disaster. Instead, follow these steps to manage the situation on your terms:
1. Ask Them To Validate Your Debt
When you receive your first call, don’t panic. Ask the agency to validate your debt. But why, you ask? Well, many states have a statute of limitations on debt. Funny how debt collectors occasionally “forget” about this little fact, isn’t it?
Once the debt has been validated, the outcome could go either way. The debt may be invalid, which doesn’t mean you’re off the hook entirely. It just takes the heat off as collectors can’t sue you over it—though some might still try. Do remember, if you’ve been sued for repayment in a state different from your residence, and the company won, they can’t force you to pay.
2. Plan Your Payment Strategy
Of course, the most favorable way to handle loan debt is to clear the balance. If you’re able to pay quickly, you’ll save your credit reports from being marred by these debacles. If this isn’t possible (which, let’s face it, is often the case), negotiate a payment arrangement. You might even caution the collector that you’re “judgment-proof” if you’re currently unemployed or lack significant assets. This discourages them from suing you due to the lack of wages to garnish or assets to seize.
3. Negotiate Like a Pro
Speaking of negotiation, handling it directly with the agency can be challenging, but remember—you’re in control! Monthly targets put pressure on agents to coax the largest possible down payments or strict payment schedules from you—don’t fall for it.
Structure your payment schedule to suit your circumstances, not theirs. There isn’t a rigid deadline for collection payments, despite collectors’ typical urgency to recover their money pronto.
4. Know Your Rights… And Exercise Them
Now that you’ve validated your debt, determined how much, and planned your repayment, it’s time to set some boundaries. How? Not by shrinking from their calls, but by taking control. Send them a written request to cease contact. And if their calls persist, don’t hesitate to inform them that you’ve involved your lawyer—that’s where I can help.
It might come as a surprise, but you’re not legally required to pick up the phone every time they call. If the calls are coming in outside the hours of 8 AM to 9 PM, don’t stay silent—report it.
Your Way Out of Debt
So, take a deep breath! Loan debt, especially when escalated to collections, can feel like you’re stuck in quicksand. However, millions of people find their way out of the financial maze every year, and so can you. If you’re a small business owner and you’re dealing with this, don’t hesitate to schedule a case evaluation.
At Lawscape, we’ve achieved successful resolutions in numerous debt problems, defending against Treasury debts and resolving millions of dollars in SBA debts via methods like Offer in Compromise and negotiated repayment agreements to avoid bankruptcy or home foreclosure. We’ve even taken it to the highest level, by representing federal debtors nationwide. That’s what makes us your most reliable legal companion. Trust us to turn the tables around in these complex situations!
Lawscape Can Help You Manage Your Business Debt
If you’re struggling with business debt, we can help you understand your situation. During the initial consultation, we’ll go over the contract, and other legal documents you signed. After that, our firm will work with you to get a better understanding of your situation, and help you come up with a game plan that keeps your business alive.
We Handle It All
Merchant Cash Advance
SBA Debt Relief
Secured Business Debt
Unsecured Business Debt
Everyone has different types of business debt. What matters is that you take it seriously. Regardless of whether it’s secured, or unsecured, you need to work with a firm that understands how to negotiate, reduce, settle, and manage, this business debt.
Discuss your situation today
We are here to help you, and want nothing more than to help you save your business. Speak to our business debt relief specialists today.