Debt Reduction Guide

Debt Reduction Section


 


Social bookmarking
You like it? Share it!
socialize it

Newsletter

Subscribe to our newsletter AND receive our exclusive Special Report on Debt-Reduction
Email:
First Name:



Main Debt Reduction sponsors


 

Favorite Debt Reduction Link Added

View your UK credit report online


Submit your link on Debt Reduction!



Rapid Debt-Reduction Strategies (Financial Freedom Series)
-By: John Avanzini
-Price: $2.42 (New)
$0.01 (Used)

Ending Debt: How To Eliminate Debt And Live A Better Life: Debt Reduction Made Easy
-By: Bob Gilbert
-Price: $10.00 (New)

Did You Buy the American Dream or Does it Own You: A realistic look at living a debt free lifestyle
-By: Jean Marie Rhall
-Price: $10.99 (New)
$35.15 (Used)

Debt Free Lifestyle
-By: Digital Mind Food
-Price: $2.80 (New)

Rapid Debt Reduction Strategies, Abridged Edition (Financial Freedome Series)
-By: John Avanzini
-Price: $6.19 (New)
$2.95 (Used)

Invest in Your Debt: How To Achieve Financial Freedom By First Eliminating Your Debt
-Price: $72.94 (New)
$11.53 (Used)

Debt Relief!
-By: Jack Earl
-Price: $1.99 (New)

Welcome to Debt Reduction Guide

 

Debt Reduction Article

Thumbnail example. For a permanent link to this article, or to bookmark it for further reading, click here.

How To Handle Business Debt Reduction

from:


Naturally, when it seems like your business is going under because of debt, you want to find a fast and effective way to deal with the situation immediately. Many owners look at the business as more than a job; it is a personal investment and something they care about deeply. Even if you have auxiliary financial resources to draw from such as a savings account, you really do not want to withdraw funds unnecessarily.

The big question is how you are going to handle your business debt reduction. You will probably be wondering what sorts of business debt relief options are available to you and your company. There are multiple avenues for securing decent business debt reduction and potentially eliminate debt entirely. What one you choose is entirely your decision as the individual business owner. It is important that you keep in mind what factors are most important to you throughout the process.

Remember that not every option is equal. Only a few will provide a better chance that you can save your business from collapsing under the enormous weight of business debt. You will have to deal with the relevant consequences of whatever business debt reduction option you choose. To illustrate the point, a few examples may be in order.

First, you could borrow the money from your business (if it is still relatively stable) or from your personal savings accounts in order to pay off a particular debt.

Second, you could contact the creditor with whom you have the past due payments and ask them if it is possible to have their accounts reestablished from a transaction-based to a revolving account. This will allow you to make smaller payments that account for a smaller percentage of the outstanding balance. You will be able to keep you account in good standing for much longer and give you time to deal with the debt and get it under control. This may be a helpful option for business debt reduction for some types of businesses.

Third, if your problem area is credit card debt, you can always get a cash advance against one credit card in order to pay off a higher balance on another. This option is not recommended and can cause more harm than good by adding to your credit card debt load.

If you want to effectively deal with business debt reduction and obtain some measureable debt relief for your company, you will need to deal with the collectors. That is really not an option. Negotiation may yield a reasonable plan for repayment of debt at a lower interest rate so you have a fighting chance to pay it down in a decent timeframe. (This depends upon how much you owe and how long you want to be on a plan based upon reduced payment amounts.) This may be where consulting a debt specialist could yield the biggest results than trying to deal with the bewildering complexities of business debt reduction on your own.



Debt Reduction Specific links

Debt Reduction News

FTC sues Tacoma 'debt reduction' company - Bizjournals.com


KOMO News

FTC sues Tacoma 'debt reduction' company
Bizjournals.com
Mutual Savings used “robocalls” and the internet to push its debt reduction program, the FTC said. On Wednesday, the FTC also filed seven other similar ...
TACOMA: Federal court shuts down telemarketing companyTheNewsTribune.com

all 6 news articles »

Read more...


Haiti debt relief to free up $50 mln a year - IMF - Reuters


TeleText

Haiti debt relief to free up $50 mln a year - IMF
Reuters
The country won $1.2. billion in debt relief from the World Bank, IMF and other creditors earlier on Wednesday under a program by rich nations to ease the ...
IDB President Moreno hails Haiti debt reliefReliefWeb (press release)
$1.2 billion in debt relief approved for HaitiThe Associated Press
US$1.2b of Haiti's debt written offNation News
MiamiHerald.com -World Bank Group -The Associated Press
all 151 news articles »

Read more...


Why Reducing Credit Card Debt Now Is So Important - HULIQ


Daily Mail

Why Reducing Credit Card Debt Now Is So Important
HULIQ
However, while that is an effective strategy for many, it is not the only credit card debt reduction or elimination option to choose from. ...
Card providers warn crackdown will make credit more expensiveCitywire.co.uk

all 263 news articles »

Read more...


Florida AG reaches settlement with Financial Freedom Resources - Bizjournals.com


Florida AG reaches settlement with Financial Freedom Resources
Bizjournals.com
Financial Freedom Resources telemarketed purported debt reduction services, a release said. Details of the settlement were not immediately available. ...
McCollum Announces Florida joins FTC, Other States in Effort ...WCTV

all 4 news articles »

Read more...


Ingen Ahead of Schedule With Product Distribution and Debt Reduction - GlobeNewsWire (press release)


Ingen Ahead of Schedule With Product Distribution and Debt Reduction
GlobeNewsWire (press release)
The company implemented a debt reduction program in March-2009 with efforts focused on operational debts accrued during 2008. To date, the company has paid ...

and more »

Read more...