SBA Debt workouts and restructures are completely different than dealing with traditional debt settlements. Most attorneys and most Debt Settlement companies are not familiar with SBA Guidelines and dealing with the Personal Guarantees of SBA backed loans. I can't tell you how many clients have come to us because their previous engagement of an attorney or settlement company failed to get them settled with the SBA or Treasury department because of a failed " Offer in Compromise ". Do your homework and research !!!!   This post was edited to remove a link. Please review our Community Best Practices for more information about how best to participate in our online discussions. Thank you.

There are many discussions about debt settlement VS bankruptcy. I agree debt
settlement

Professional Web Site: http://settlementdebt.org

Debt settlement is becoming a popular bankruptcy alternative for consumers experiencing financial hardships. This trend will likely continue as the economy continues to suffer from sluggish growth, stagnant personal income, a persistent negative personal savings rate and rising gas and energy prices. Who do you trust more than yourself with your money?Handing your personal, sensitive financial dealings over to a complete stranger can be unnerving, especially if it is unnecessary. Professional debt settlement companies often service thousands of clients. It is nearly impossible for anyone else to provide the level of service and attention that you can provide to yourself. By doing your own debt settlement, you keep your personal businessto yourself. You also alleviate the potential for the third-party debt settlement company misplacing your personal, sensitive information or a disgruntled employee stealing your information and committing fraud in your name - making you an identity theft victim.

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Be sure to read through the FTC's web page about managing debt.

Good information. Debt managemewnt is more about changing your lifestyle and habits than in just managing debt. There are some very good debt consolidation companies out there - some that provide loans to consololidate and some that just provide information and guidance. but, the botom line is if you don't change what got you in trouble in the first place - nothing else will help.

Hi mrhelpful, There are a couple of ways to deal with debts: realistic budgeting, credit , debt consolidation, debt negotiation, or bankruptcy. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre19.shtm Read more about Managing Small Business Debt - Government Loans and Refinancing Lifelines in our blog

Yes you can solve your business debt problem with debt consolidation firm. They allow you choose settlement or consolidation way to go for a business debt. Also you can try for a good debt consolidation programs.

I'd 'really' try to avoid using a debt settlement or management company. A lot of these companies are either complete scams or put the personal or business in even MORE debt. There are quite a few 'free' companies that help persons and business manage debt properly and get out of it. However, make sure this is a non-profit company that does this as a free service and not a by-charge service. I've posted a link to an article on MSN Money Central that could also be of some use to you. articles.moneycentral.msn.com/SavingandDebt/ManageDebt/ManageDebt.aspx -- This post was edited to remove a commercial link. Read our discussion policies for more Community best practices.