Doing nothing about your secured or unsecured business debt is an option.
Jonathan Field, Emerge180 CEO once stated that he’s never seen a problem solved by doing nothing.
But before you decide to simply do nothing about your unmanaged business debt, consider the outcomes. Leaving outstanding balances due, unpaid loans, delinquent taxes or past due insurance premiums can cost you even more than taking immediate steps.
And, you risk a complete loss of control over your business finances:
A failure to respond to repeated collection efforts, phone calls, and past due invoices is a clear sign that you either don’t care, or aren’t willing to make an effort to fulfill your obligations. It’s an invitation to legal action with outcomes you can’t control.
Consider that Emerge180 has never seen a business regain its financial strength and stability from simply doing nothing. We’ve helped businesses just like yours recover from crippling financial deficits and we can prepare a plan to help you do the same.
Seriously, do nothing?
One small business owner did nothing – including ignoring repeated appeals from a creditor to devise a repayment plan. The creditor obtained a judgement and subsequently, court ordered authorization to garnish the business owner’s bank account. The next day, the owner’s bank account was empty.
Make a Difference
Another business owner – a restaurant – did nothing about his past due invoices. That is, until the Sheriff showed up to conduct what is called a “Till Tap.”
A Till Tap is another legal maneuver a creditor can pursue where a law enforcement officer literally stands at the cash register and collects money for goods and services from store customers. The Till Tap continues until the balance due is collected, along with administrative costs. A Till Tap is another example of how a business owner loses control of the solution by not taking action.
In this case, the restaurant owner called Emerge180 (in a panic) and asked what we could do. We spoke directly with the Sheriff and got the Till Tap discontinued. We worked out a debt settlement solution within an hour and kept the owner in business. That restaurant is open, thriving and profitable today.
A New York pet shop owner turned to Emerge180 with over $325,000 in debt. He believed bankruptcy was his only alternative. We worked with the business and over the course of months helped him consolidate store operations and debts into a manageable state. In fact, our negotiated settlements reduced his total debt down to just $167,000 (just over 50%).
Through Emerge180, he was able to maintain control of his finances, reduce his debt load and eliminate all the financial stress.
Emerge Solid. Emerge Ready. Emerge180.