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Chandler MCA Defense Lawyers Business Debt Relief

If you run a small business in Chandler, Arizona and are struggling with overwhelming business debt, know that you have options and there are experienced professionals who can help. Our team at Delancey Street has extensive experience working with business owners to alleviate debt burden through strategies like debt relief and debt settlement. We take an empathetic, customized approach to serve the unique needs of each client.

How We Can Help With Your Business Debt

As a business owner, dealing with significant debt can feel incredibly stressful and uncertain. You may feel alone in navigating complex legal and financial considerations regarding your situation. At Delancey Street, our attorneys and financial experts work as a team to offer a holistic solution. We help clients to:

• Settle debt for less than what is owed through negotiations with creditors
• Restructure and consolidate debt into more manageable payment plans
• Explore debt relief options to find the right solution for your business’ specific circumstances
• Receive legal counsel regarding protections and rights available to business owners with debt
• Develop healthy financial habits to avoid debt pitfalls in the future

Our debt settlement attorneys approach each case with care and attention to detail. We take time to understand our clients’ unique situations in order to create customized debt relief or debt settlement solutions. With extensive experience specific to small business debt, we serve as trusted advisors and advocates.

Common Causes of Business Debt

Many business owners feel embarrassed about having significant debt, but the reality is that there are many complex factors that can lead to overwhelming financial obligations. Understanding some of the most common reasons businesses take on more debt than they can readily manage can help you think through your own situation more clearly.

• Securitizing – Securitizing MCA loans provides capital for lending but incentives maximizing volume over loan quality
• Overreliance – This manifests through overreliance on limited data, ignoring total debt obligations, and rushing due diligence
• Unpredictable circumstances – Situations like economic downturns, supply chain disruptions, changes in consumer demand, and other unpredictable events can drastically impact cash flow
• Expansion costs – Investing in growth requires an influx of capital that may overextend capabilities
• Lack of financial controls – Not accurately tracking cash flow, failing to set financial goals, neglecting to separate business and personal finances all set the stage for amassing unmanageable debt

While the path to significant debt varies case-by-case, know that as a small business owner you have options regardless of specific circumstances. Our Chandler business debt attorneys have seen countless situations and work to provide solutions tailored your business’ needs.

Debt Settlement for Chandler Small Businesses

If your Chandler business has accumulated substantial debt across multiple creditors, debt settlement may be a viable solution. With debt settlements, experienced attorneys negotiate with creditors to settle on paying a lump sum that is less than the total amount owed. This can relieve business owners of unmanageable monthly payments by consolidating what is owed.There are several key benefits small business owners see when working with our debt settlement lawyers, including:

• Paying off debt faster with one lump sum payment
• Spending less money overall through reduced settlement amounts
• Avoiding creditor harassment from multiple sources demanding monthly payments
• Preventing lasting credit score damage that occurs with delinquent monthly payments over time
• Resolving stress, uncertainty, and guilt associated with overwhelming debt burdens

While debt settlement can be an effective strategy, it also comes with downsides to consider seriously:

• Potential for lawsuits or other collection attempts during negotiation period
• Tax liabilities on forgiven debt amounts
• Mandatory lump sum payment timeline
• Possibility of settlement rejection by creditors
• Limited access to additional financing during process

Our legal team helps Chandler business owners carefully weigh the pros and cons of debt settlement for their specific situations. We start with a free consultation to explore whether settlement aligns with your goals, finances, and circumstances.

Legal Protections for Small Businesses in Debt

Navigating business debt can be incredibly complex, especially determining rights and protections available to you as a business owner. Our attorneys keep up-to-date on all relevant state and federal laws impacting Chandler small businesses with substantial debt. We inform clients on key considerations like:

• Allowances for loan forgiveness, refinancing, or discharge under the bankruptcy code
• Statutes of limitations on debt collection and related consumer rights
• Tax implications when debt is settled, restructured, or discharged
• Provisions specific to business type such as LLCs, partnerships, or sole proprietorships
• Regulatory action that may be taken by bodies like the Consumer Financial Protection Bureau on abusive collection practices

Never assume you have no recourse or protections when facing mounting business debt. Connect with our legal team to understand your rights and identify any abusive or illegal behavior from creditors or collectors. We can provide counsel on responding assertively to protect yourself and your business.

Our Debt Relief Process and Team

At Delancey Street, we have an established multi-step process for helping clients address problematic business debt:

1. Comprehensive Financial Review – We thoroughly review your current financial circumstances, including all outstanding obligations, income streams, and assets. This enables us to strategize based on a full understanding of your situation.

2. Customized Solution Development – Next we explore all debt relief options available to your business – settlement, restructuring, refinancing, forgiveness programs, bankruptcy protections, etc. We develop a tailored solution to align with your specific goals.

3. Negotiations & Settlements – Where debt settlements emerge as appropriate, our legal team leverages years of combined experience negotiating with creditors and collectors to secure reduced lump sum payoffs. We start negotiations only once we have a settlement solution that works for you.

4. Consolidation & Payments – As lump sum settlement offers come through, we consolidate what you owe into a single payoff amount. We work with you to make paying the negotiated balance realistic within your budget.

5. Ongoing Support – Even once settlements are reached, we provide support to ensure the relief solution sticks. We help you establish financial practices to avoid spiraling back into overwhelming debt.We assemble teams of debt relief attorneys, financial specialists, and support staff to give each of our clients customized, compassionate service. We understand the mental, emotional, and financial toll business debt takes – let us help alleviate your burden.

Contact Delancey Street for a Free Consultation

If you are a Chandler business owner struggling under the weight of substantial debt, contact our team at 212-210-1851 for a free consultation or visit us online at www.delanceystreet.com. Our lawyers and financial experts work collaboratively to offer holistic solutions designed around your needs. We combine legal counsel on protections and rights with financial strategies aimed at securing relief.Whether your debt stems from cash flow issues, expansion costs, unpredictable circumstances, or other causes, know there are options. Our entire team brings empathy and understanding to serve business owners across Chandler burdened by debt. We have assisted countless small businesses and guide our clients with their best interest in mind every step of the way. Reach out today to start the process.