Who We Are
We are not a law firm, but we work closely with attorneys as part of our comprehensive debt relief process. Our dedicated team has years of experience helping business owners settle debts and restructure financing. We take an empathetic, personalized approach to understand each client’s unique situation.
Our Debt Relief Process
Our debt relief process is straightforward and customized to meet your needs:
- Initial Consultation – We’ll discuss your current debt situation in depth to understand the full picture
- Customized Solution – Based on your situation, we’ll put together a combination of debt settlement, restructuring, and refinancing options
- Attorney Review – Our attorneys will review the proposed solution to ensure it’s legally sound
- Negotiation – We’ll negotiate with your creditors and financing companies on your behalf to reduce balances and payments
- Implementation & Monitoring – We’ll continue working closely with you throughout implementation and provide ongoing account monitoring
Throughout the process you’ll work with a dedicated case expert who understands your business and goals. We simplify everything to make it as easy as possible for you.
What Makes Us Different
Delancey Street takes an empathetic approach and treats each client like family. What sets us apart:
- We’re not a debt collection agency – we strictly represent the debtor to get you the best possible settlement
- Attorneys on staff can provide counsel if legal issues come up
- Our experts focus 100% on small business debt relief every day
- We simplify and demystify the process so you can focus on running your business
- Our debt relief solutions help free up capital to invest back into your company
Why Legal Counsel Matters
While our process is designed to avoid litigation, having attorneys involved provides an invaluable legal perspective. Our attorneys can advise on:
- Negotiation strategy and tactics to get optimal settlements
- Legal and regulatory issues that may come up with specific creditors
- Potential defenses if any creditors pursue legal action post-settlement
- Ongoing legal counsel if needed throughout the debt relief process
Knowing your legal rights and having an attorney “in your corner” eliminates surprises and gives you leverage in getting debt reduced as much as possible.
What We Can Settle
We have experience settling all common small business debt types, including:
- Business loans and lines of credit
- Merchant cash advances
- Equipment financing (leases, loans)
- Business credit cards
- Late payments and fees
- Judgments
- Personal guarantees
And more. Each situation is unique, so we perform a comprehensive financial review to understand your full debt profile.
Our Track Record
We have an excellent track record helping business owners settle debts and get financing relief:
- Over 85% settlement success rate
- Hundreds of small businesses helped
- Over $350M in debt settlements completed
- Average 40% reduction in monthly payments
Case Study: We helped the owner of a Charlotte marketing agency settle $112k in business debt from credit cards and loans for $52k, reducing their monthly payments by 60%.
Why Debt Settlement Works
Creditors face a dilemma when small businesses struggle with debt – they can refuse to negotiate and likely get nothing, or they can settle the debt at a discount in order to recoup something. We make them an offer that’s often in their best interest to accept.Debt settlement works because:
- Creditors are often willing to reduce balances by 40-60% rather than get nothing if you can’t pay
- We have attorneys to advise on the law and build a strong case
- Settlements we secure legally absolve you of having to pay the reduced portion of debts
- You get out of debt much more quickly so you can move forward
Our Team
Our dedicated team of experts makes it their personal mission to help business owners achieve financial freedom.
- Experienced Debt Consultants – Our consultants focus exclusively on small business debt relief and know all the intricacies to get optimal settlements. Many were former creditors themselves.
- Financial Analysts – We have an in-house team of analysts that review each client’s accounts to build custom debt relief solutions.
- Attorneys – Attorneys oversee the legal aspects of settlements and are available to provide counsel throughout the process.
- Client Service Team – A support team ensures an exceptional client experience from start to finish.
Our experts do this day in and day out solely for small business owners like you. Their experience and dedication provides the greatest chance of success.
Our Promise
We understand the heavy emotional burden debt places on business owners. Our promise:
- Conduct an honest assessment of your situation and realistic options
- Simplify and demystify the process so you know what to expect
- Provide exceptional client service and responsiveness
- Negotiate as aggressively as possible to settle your debts
- Offer ongoing support to help you achieve long-term financial health
We view every client relationship like family. Our incentives are 100% aligned with getting you the maximum debt relief possible.
Why Delancey Street?
If you feel overwhelmed by business debt, the team at Delancey Street can help:
- Get a free debt relief assessment and see how much you could save
- Speak with a dedicated small business debt expert
- Have attorneys review your options at no cost
Call 212-210-1851 or visit our website https://www.delanceystreet.com to get started. The sooner you take action, the sooner we can help negotiate your debt and stop collection calls.
FAQs
What will debt settlement do to my business credit score? Settling debt for less than owed often causes a temporary drop in personal or business credit scores. However, eliminating debt burden improves cash flow to invest back into your business. Having an attorney involved also provides defenses if any creditors pursue legal action post-settlement which mitigates risk. Many settled accounts continue to show as “paid or settled” on your credit report which is better than “charged off”.
How much could debt settlement save my business? On average, our clients save 40-60% off their total debt through negotiated settlements. This translates into thousands per month in reduced payments. For example, settling $100k in debt could save you $40k-$60k off what you owe. Every situation is different, so speak to one of our experts to understand your specific savings potential.
Can I settle business tax debt? It is possible to settle IRS and state tax debt through what’s called an “offer in compromise”. Essentially this allows you to pay a lump sum that’s less than the total tax obligation. Tax debt settlement is complex, so working with our tax attorneys is advised to navigate the process. We have helped many small businesses settle IRS tax debt.
What debts are easiest to settle? The best debt settlement candidates are unsecured debts like credit cards, lines of credit, and merchant cash advances. These types of financing don’t have hard collateral behind them, so creditors have more incentive to settle. Any type of debt is eligible for settlement, but loans secured by real estate or equipment are typically more difficult to negotiate with.
When should I contact you about debt relief? It’s smart to explore debt relief sooner than later when struggling with business debt. The more delinquent accounts become, the more leverage it gives us to negotiate with creditors. Also, settling debt before major damage is done to your credit score or any legal action is taken against your business saves headaches down the road. We offer free consultations, so you have nothing to lose by reaching out now to discuss your situation.
Can you stop my creditors from suing while you negotiate settlements? We can advise on the law and risk of legal action creditors may take. Having attorney representation also gives us leverage to “pause” collection lawsuits and negotiate without litigation cloud. Our goal is to secure settlements before any creditors pursue lawsuits against your business. If legal action has already been filed, our attorneys can defend and work to get matters resolved through negotiation. Reach out any time to discuss your situation.I hope this gives you a good overview of how Delancey Street can help Charlotte small business owners get debt relief and financial freedom. Please reach out if you have any other questions – we’re happy to help any way we can.
