Debt Settlement over Bankruptcy

Why Choose Debt Settlement Over Bankruptcy?

SettleSource is experienced in dealing with the most demanding creditors and collection agencies. Our highly trained and motivated negotiators specialize in the management and resolution of business debts and will resolve your accounts with care and discretion.

Commercial debt settlement is a highly effective tool to help business owners restructure their commercial liabilities over time and for generally a significant amount less time and money than with debt servicing.
Business owners in our program are represented by experienced case managers, whom have received the highest level of debt arbitration training. Our program does not have the requirements of public filings, disclosures or other mandates associated with bankruptcy. What does that mean for you? That you maintain discretion, and control of your company and finances throughout the debt settlement process. Furthermore each and every settlement we achieve is fully disclosed and ultimately at your final discretion.

Commercial debt settlement can provide short and long term financial relief while maintaining your company.
While we cannot improve every aspect of your business, we are dedicated to providing the financial relief you will need to recover your present situation and to rebuild a solid, financially sound company. Additionally, we get to know you and your business needs and will work hard to help you adjust to inevitable changes that come with recovery.

Bankruptcy on the other hand is not a tool, but rather a last resort.
In most cases, it is a highly stressful and draining process, which can involve a variety of other negative ramifications:

Filing for bankruptcy protection usually involves attorneys, trustees, the courthouse and other institutions.
It can take up to or more than a year of your valuable time plus considerable resources from the business to complete. The process usually requires you to effectively give up control of your company to the court and the appointed trustee.

Most recently and in many cases bankruptcy is not an option.
Due to more prohibitive bankruptcy laws, the action of filing bankruptcy may cause you to lose your business.

You are probably aware that a long term negative result of bankruptcy is the mark it leaves on your credit.
As a business owner, you may need credit in the future. By having filed bankruptcy, you have shown future creditors that you will walk away from your debts. This signifies an increase in risk for lenders and may result in denial of future credits or much higher interest rates.

A much better alternative is Commercial Debt Settlement, based on good faith workouts with your creditors based on your budget to save you as much money as possible as well as get your debts resolved as quickly as possible. The goal is to enable you to focus on and grow your business while we work with your creditors.

*If you are considering bankruptcy, please seek a consultation with a bankruptcy attorney.