Between the skyrocketing costs of gasoline, healthcare which none of us can afford (especially those that are self-employed), and, to add insult to injury, our own Olympians are wearing uniforms that were made in China - not in American-based factories where jobs could be saved and/ or created, how can the American economy make a comeback? We have an administration in place that has not been kind to the small business owner (which, by the way, is the drivetrain that powers this economy). If you are a small business owner how can you budget for an increase of .25 + more per gallon for you delivery trucks, work vans etc?
The answer is you rob Peter to pay Paul.
Here is the problem - there are more Pauls that need to be paid then Peters to borrow or delay payment to. What happens typically is that most employers don’t pay their taxes, fall behind with their vendors and, in turn, over extend themselves with credit. That’s when the spinning plates begin to fall. Trade creditors freeze your line, interest rates rise and lenders stop lending. The business owner doesn’t take a paycheck and personal obligations begin to mount up.
Bankruptcy is there for a reason, but there are alternatives. A debt restructuring program for your business may be the answer
that you have been searching for but has eluded you so far. The Reorganization Management Group in Clifton NJ has a team of debt experts. Call and talk to one of our Financial Solutions Consultants. The management team has over 50 years of experience in debt resolutions.
Banks may have gotten billions of tax dollars in bailout programs but there appears to be no such bailout for small businesses on the horizon. It is time to take back our economy and help the small businesses. When a company goes out of business everyone loses. The bank, the local and national vendors, the landlord, etc. are all victims… and how about the people that lose their jobs and try to survive on unemployment benefits while hoping to find new work?
Bankruptcy can provide relief for a business or a business owner. However, one of the problems with a bankruptcy is the cost associated with filing. Additionally, bankruptcy filings for business are sometime ineffective as they often fail to provide the intended purposes of operating freedom and significant debt relief. A good debt restructuring plan, however, may be just what the doctor ordered. Call today for a FREE confidential debt analysis and speak with people that are dedicated to helping the struggling business out there find a bankruptcy alternative.
We need to get back to basics, save jobs and keep business in this country. The Reorganization Management Group does just that - one business at a time, we are here to help save the economy.
Call today or visit www.reorggroup.com.
A client had enrolled in our program as a bankruptcy alternative (in November of 2011) with over $180,000 in debt (which included business loans as well as credit card obligations). This client simply couldn’t manage the unaffordable payment terms each creditor had required and they were over extended with a high DTI (debt-to-income ratio). The first four months of their program they were bombarded with collection calls and were growing skeptical of the programs’ debt restructuring abilities.
However, over the last four months—once settlements became eligible on their debts—we have settled 5 of their 14 debts, totaling $73,856.23 for just $27,828.12. Our client has already rid themselves of so much debt that they have been receiving calls from agents advising them that they are now eligible for approval on the same applications which denied them a loans just a year ago!
In a slightly strange turn of events, there has been some rhetoric around Capitol Hill defining the current state of public debt in the US as an analogue to the communist threat of the 70s. It’s a curious line of thought, one that leads to the conclusion that if public debt is in fact a national threat on this level, that it would be beneficial to the country and generally the patriotic duty of red-blooded Americans to do everything in our power to bring down the deficit as quickly as can be managed. The most effective way to do that? Formulating a budget that matches revenue increases with spending cuts, and maybe asking the super rich if we can raise their taxes just a touch, especially if it will contribute to defeating the red menace that is currently lingering over the shoulder of America. A curious line of thought in curious times. It will be interesting to see if this rhetoric has any impact, positive or negative, on the general state of public debts in America. Let us know what you think in the comments.
While perusing the net, I stumbled across what I think is a great article and primer for getting an initial grip on your debt and what it means. These few simple steps will let you see your debt on paper, get a sense of the numbers, and see the reality of your situation while giving you a better platform to address it on. When dealing with debt, or any difficult problem, RMG strongly recommends the use of lists! It’s been proven that writing things down, and checking things off of a to-do list is a strong booster of productivity and motivation. Try it with the help of this article, and then give us a call so we can go over the numbers with you and start helping you on the path to a debt-free life. You can do it, we can help. Call today at 866-364-9161 and talk to someone in our office to start.