What Should I Know If My Business Is Considering Debt Consolidation?
E.J. Simonsen | May 17, 2022
What should you know if my business is considering debt consolidation?
If your business is considering doing a debt consolidation or reverse consolidation of a merchant cash advance, tread carefully.
Do Reverse Consolidations Work?
Reverse consolidations rarely work. You need to make sure that any additional debt you take on puts your business in a better position.
Routinely, companies reach out to us after doing a reverse consolidation, and they just end up with more debt and more payments. They didn't get the terms they thought they would.
Let an Attorney Review Your Debt Consolidation Contract Before Signing
In any contract to borrow money, especially if it's going to be a debt consolidation or reverse consolidation, do not sign it without having a professional — your attorney — review that contract.
Every situation is unique. If you have questions, contact our office. We'd love to help you,
The material and information contained on this website is for general information purposes only. You should speak with an experienced attorney in your area before making any legal decisions.