Debt Relief Services Blog

Am I Personally Liable for Business Debt?

Dec 29, 2021 10:00:00 AM / by E.J. Simonsen

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If you own a business that's struggling with mounting debt, you may be wondering if, or how business debt could affect your personal finances. It's true that oftentimes business owners and especially sole proprietors can carry personal liability for their business’s debt. If that's something you're concerned about, let's take a look at when a business owner may be liable for business debt. 

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How to Get Out of Business Debt in 5 Not-So-Easy Ste

Dec 22, 2021 10:00:00 AM / by E.J. Simonsen

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Business debt can be terrifying, but isn't uncommon. If your business is in debt that you're not sure you can turn around, it's important to address it sooner rather than later. While getting out of business debt isn't easy, getting the right support can help ensure your business comes out on the other side. Here are 5 key steps to follow to help your business get out of debt. 

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What is a Reverse Consolidation?

Nov 15, 2021 9:30:49 AM / by E.J. Simonsen

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If your business is struggling to keep up with multiple merchant cash advance payments, you may be looking into consolidation options. One of the more popular and diabolical merchant cash advance consolidation options is called a reverse consolidation. This article will take a look at what a reverse consolidation is, the claimed benefits, and why it's rarely a good solution for businesses.

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Unsecured vs. Secured Debt: The Basic Breakdown

Nov 2, 2021 9:30:00 AM / by E.J. Simonsen

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How Can I Get Out of a Merchant Cash Advance?

Sep 14, 2021 2:29:55 PM / by E.J. Simonsen posted in Merchant Cash Advance, Bankruptcy

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Merchant cash advances (MCAs) are a financing option that many small businesses choose. Because MCAs can offer a great deal of capital in a short time, many small businesses use them to get through hard times. 

But, it's easy for a merchant cash advance to turn sour (it's what we call the Merchant Cash Advance Trap). 

In the event that your business has taken a merchant cash advance that you're unable to repay, know that you do have options. Here are 5 ways you can get out of a merchant cash advance that's dragging your business down.

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