When The Debt Doctor Is Also The Dad

Everyone is familiar with the medical standard that prevents doctors from saving the lives of their loved ones. In a crisis, when objectivity is often replaced by emotions, neither doctor nor sick loved one is well served. It’s the same for your company. If debt is crushing your ability to do business, focused professional debt release negotiators are better equipped to resuscitate your operation without the drama.

Before you assume the role of savior for your company, here are several issues to consider before beginning a do-it-yourself corporate debt settlement.

 

Reducing Debt on Your Own is a Lonely Option

Attempting to negotiate a debt release settlement on your own is a solo undertaking. You may know your creditors. You may be familiar with the collection agency, maybe a bit too well. Perhaps you are on a first-name basis with your lenders, which should be the case regardless of your company’s financial health. But negotiating a debt release for your company by yourself can be a lonely undertaking. The burden of the outcome lands squarely on your shoulders.

 

Too Close to the Patient

Whether the company has grown under your long-time watch or other people in authority have placed a new responsibility on you to lead, the performance stakes are high. The pressure is on to improve your company’s ill health. This can cloud your judgment in many ways. Desperation can set in and emotions can take control, unhealthy places from which to negotiate lower debt obligations or undertake a corporate debt restructuring. If the business is your baby, realize your shortcomings and find the most skilled professionals to handle the debt release.

 

Corporate Debt Settlement is Part Art Form, Part Experience

Unless you’ve spent a considerable amount of time in sales, mediation and finance, the ins and outs of reducing or releasing debt held by creditors may be foreign territory. It requires credit industry know-how, diplomacy and a keen knowledge of negotiation tactics. Even with the vast amount of information available on the web, your efforts to get the best possible debt release are far less optimistic than the work of a seasoned professional. Your energies are better spent focusing on your business’s mission with the understanding that you don’t have to wear all the hats all the time.

Take the time to consider whether your patient needs a home remedy or a specialist. If the business is your precious offspring, a corporate debt restructuring plan may be the best medicine.