Negotiate & Settle Debts – Restructure Obligations
When we form businesses and make investments, we only see the good side and hope for positive outcomes. But we have all had business ventures go in the wrong direction and/or had investments not turn out as hoped. We came across bad information on which we relied, bad people we had not expected, bad economies we did not foresee, political events we could not control, and new technologies we did not anticipate.
Businesses run into trouble for many reasons. Lower revenues and higher than anticipated expenses are the biggest problems. Sometimes you fall behind on bills and payables and things begin to backup on the company. Other times, you may feel that money being sought is not owed by your company because the proper product or service was not provided.
Once the issue is clarified, there are different ways to deal with such problems, from disputing claims, to trying to settle amounts due. We can help you to set the desired approach based on the circumstances of the debt(s) at issue, and also by looking at the overall picture of your company.
Sometimes, your business is not being paid timely by its own customers (open receivables), and that is causing your company’s debt or cash flow issues.
When customers and clients who don’t pay bills are the problem, sometimes it takes an aggressive approach to let them know you are serious about being paid. Other times, it is a sensitive topic that requires tact and care, so that relationships are not disturbed and more business can be done in the future.
Neil Siskind’s over 22 years of experience advising businesses in their operations can help you to define your issue(s) and take effective steps to solve problems with your late payables and collections against your business for monies you owe, or problems related to monies owed to your company (receivables).
When it comes to help with your own debts and/or obligations, you want an attorney who has his or her own business experience, in addition to legal experience. Most attorneys have never operated manufacturing, real estate, sales, or other businesses and understand the importance of supply chains, shipping dates, product development, warehousing, factoring, distribution channels, counter-party relationships, technological advancements that alter streams of commerce, or even leasing large spaces for different divisions of a company. It’s not just about debt law- it’s about maintaining relationships, reputation, and profits. Dealing with your payables and debt while trying to maintain integrity and relationships is a delicate balance that requires skill- not just legal tactics. It takes someone who intimately understands industry, finance, and the economy- and not just law.
My services are designed for businesses that have valuable relationships, that value their reputations, and that want to keep operating, and that are affected by various areas of the economy and a variety of financial factors.
You need not wait until it’s too late. If you think you may begin to fall behind on future obligations, such as leases, loans, contracts, or payables, call today to devise a plan for reaching out to other parties to renegotiate terms before things become a problem.
If you want the business experience and legal skills to handle debt and business challenges properly, I look forward to talking with you.
Note: We also handle commercial debt collection actions for businesses (B2B). These are not actually “debt collections”; they are legal steps and procedures taken pursuant to a breach of a written or verbal agreement to pay a sum certain for a product or service. We handle these on a contingent fee basis. Contact us today to discuss monies and/or receivables owed to you.