How to Handle Business Debt- By Neil S. Siskind, Esq.

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. Macroeconomic factors over which you have no control, at all, could be at play. Sometimes you fall behind on bills and payables and things begin to backup on the company and just cascade. 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.

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