Small Business Credit Relief and/or Reduction of Interest Rates. – Mr. Smith

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My inquiry is in regards to credit (debt) relief options and/or interest rate reductions for a small business.

I am in-house counsel for a small business that, like many during this recession, has used the personal credit cards of the business’ owner to pay bills and other expenses related to our comany. Our debt has become somewhat of an issue primarily due to the incredibly high interest rates associated with said cards. However my legal expertise does not necessarily include issues peratianing to the precise in’s and out’s of credit issues. With that being said, do you have any advice as to what steps I could follow to make progress on getting our debt level and interest rate levels down and/or moving towards some sort of consolidation of said debts? Thank you very much and I anxiously look forward to your reply. Have a great day.

Mr. Smith




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2 thoughts on “Small Business Credit Relief and/or Reduction of Interest Rates. – Mr. Smith”

  1. Hello Mr. Smith,

    There are a lot of options available for paying down debt, some more aggressive than others. To understand specifically what steps your organization should be taking to dig out of the financial bind it is now in, would require a much more comprehensive understanding of the situation, including the debt load, current and expected cash flows, and goals of the business moving forward.

    Reply

  2. Hello Mr. Smith,

    There are a lot of options available for paying down debt, some more aggressive than others. To understand specifically what steps your organization should be taking to dig out of the financial bind it is now in, would require a much more comprehensive understanding of the situation, including the debt load, current and expected cash flows, and goals of the business moving forward.

    Reply

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