Orlando Business Debt Settlement and Merchant Cash Advance Lawyers
Are you a small business owner in Orlando struggling under the weight of excessive debt? Have merchant cash advances or business loans left you unable to keep up with payments? Delancey Street has attorneys who can help negotiate debt settlements so you regain financial stability.
How Debt Settlements Help Orlando Businesses
When revenue drops but regular overhead expenses and debt payments remain the same, many companies face falling behind. Rather than battling debt collectors in court or closing up for good, debt settlement provides a legitimate path back to solvency.Our dedicated legal team has years of experience negotiating discounted lump sum payoffs with creditors nationwide. We take an ethical approach focused on creating win-win solutions. Many lenders accept reasonable compromises over forcing businesses into bankruptcy and recovering nothing.Settling outstanding balances for less than what you owe relieves financial pressure. Your company avoids potential lawsuits or further damage to commercial credit scores. We customize strategies to your unique situation. Our attorneys help you:
- Prioritize business debts – We help determine your most critical obligations to tackle first. Settling priority debts preserves essential relationships for ongoing operations.
- Free up operating capital – Debt payments strain cash flow. Settled accounts let you redirect revenue into growth, hiring, and other investments.
- Improve commercial credit – Defaulted loans and debts in collections significantly hurt credit scores. Settled accounts in good standing start rebuilding your rating.
- Avoid bankruptcy – If settlements succeed before debts become completely unmanageable, bankruptcy may not make financial sense anymore.
Our combination of legal expertise and a commitment to client service makes the process of becoming debt-free manageable. We walk you through each step.
Who We Help
Many Orlando business owners from various industries partner with our firm to settle debts. Some common situations we assist with include:
Owners With Slowing Revenue
When sales decline or customers leave, keeping up with existing debt obligations gets harder. Settlements help ease the burden when revenue can’t support debts at original levels anymore.
Companies Hit by Unplanned Expenses
Emergencies like supply chain disruptions, natural disasters, or lawsuits can drive unexpected costs. Settlements reconcile debts racked up responding to crises so you move forward.
Startups Needing an Exit Strategy
Some new ventures simply don’t gain expected traction quickly enough before money runs tight. We negotiate exits from equipment leases, lines of credit, and other startup financing debts.
Businesses With Maturing Merchant Cash Advances
These alternative small business loans carry very high effective interest rates. Many owners struggle when short-term notes come due. We settle cash advance debts to avoid crushing interest.If any scenario describes your business, our legal team creates customized solutions. We know how to negotiate with all types of lenders and creditors to make the process as smooth as possible.
What We Can Settle
We have experience settling a wide variety of business debt obligations, including:
- Bank loans
- Lines of credit
- Merchant cash advances
- Equipment or vehicle leases
- Past-due supplier invoices
- Commercial real estate loans
- Tax debts
- Credit cards
- Judgments
- And more
Our attorneys review your unique situation, then determine which accounts to target first while maintaining daily operations. We negotiate firmly but fairly so you get reasonable compromises that work for all parties.
How the Debt Settlement Process Works
If you hire our law firm to negotiate your outstanding business debts, here is a general timeline of how we proceed:
1. Strategy Call
We schedule an initial call to discuss your accounts payable and debt obligations. This helps us understand your priorities, resources available to settle debts, and the timeframe you would like to become debt-free within.
2. Review Documentation
Our attorneys need to verify details on all debts we will negotiate settlements on. This includes original loan/credit agreements, statements, default notices, demands from creditors, etc. This documentation helps later in the negotiation process.
3. Open Negotiations
With debts prioritized and documentation gathered, we start contacting your creditors. We explain your financial hardship and willingness to settle reasonable lump-sum discounts. Supporting records help demonstrate good faith efforts to pay.
4. Payment Account
If creditors accept settlement proposals, you start contributing agreed monthly amounts to a dedicated payment account. Once enough funds accumulate to pay negotiated discounts, accounts get closed out.
5. Execute Settlements
As we reach deals, you authorize payments from the account to creditors. We ensure you get written commitments all balances are marked satisfied before releasing payments.
6. Confirm Resolution
Finally, we validate that creditors correctly updated settled accounts as paid in full. This protects you from any remaining balance coming back later to haunt your business.While the path to becoming debt-free takes diligence walking through this process, the outcome is worth it. We customize solutions so you get settlements that make the most financial sense. Our legal expertise protects you while navigating often stressful negotiations.
Why Work With Our Orlando Business Debt Settlement Lawyers
If you choose Delancey Street to negotiate your outstanding business debts, here is what sets our firm apart:
Decades of Proven Results
We have worked with small business owners nationwide since the Great Recession over 15 years ago. Our attorneys have negotiated thousands of successful debt settlements over that time even in challenging situations. We know what reasonable compromises to start negotiations with.
Boutique, Personalized Service
Large law firms juggle hundreds of clients. We focus on providing white-glove service to a smaller group for more customization. You work directly with our founding attorneys throughout settlements.
Ethical Approach
Some debt settlement companies use questionable tactics bordering on fraud or harassment. We operate transparently with integrity. All proposals and deals protect our clients’ long-term interests.
Hybrid Legal Business Model
Our unique combination of legal and financial services brings added value traditional law firms can’t match. We help owners holistically to support growth beyond just settlements.If you need an experienced legal team to negotiate Orlando business debt settlements, contact us for a free consultation or call (212) 210-1851. Our attorneys create strategies so you regain financial freedom.
