Choosing Help for Financial Recovery

TAMPA, Fla., July 9, 2013 /PRNewswire-iReach/ -- "Although entrepreneurs are optimists, it is important they recognize that a significant financial recovery may often require professional assistance.  Knowing when and where to seek help is a mark of wise leadership," says CEO Jonathan Field, of Emerge180, a national firm offering expert advice in creditor negotiations and tax resolution services.

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People who start or operate small business believe in themselves and the companies they run. These energetic visionaries represent the core of success in America, willing to put hard work into their dreams and bring their ideas to a national and world marketplace. However, optimism works best when paired with realism when overcoming a debt crisis. Rather than focusing on the hope of a new contract or bid to resolve embedded debts, specific steps need to be followed.

Ranking Creditor Importance

Prioritize creditors by putting those first who are most important to the business.  This facilitates effective decisions on what can be paid, when it can be paid, and to whom it should be paid.  In addition, it's wise to match business revenue cycles to payment commitments. If certain months have much higher income and others lower, make payment promises that follow those trends. Base debt reduction promises on current business and use new business to accelerate repayments. Despite the desire to achieve a quick turn-around, stay on the low side when making agreements. Think in terms of consistent repayment promises that can be kept.

Getting Outside Help

When plans to repay debt cannot be negotiated, get help. Use the optimism that fueled your leadership to find a qualified consultant. When creditors are unwilling to negotiate, seek trusted intervention. Finally, consider the time involved managing debt.  If a business owner's time is devoured by creditors instead of addressing critical operations or growing their customer base, this leads to a simple conclusion. Outside help is needed.

Who should you trust?

Knowing who to ask for help is just as important as knowing when.  Most business owners default to their accountant or attorney to help.  However, it is crucial that you seek out someone who specializes in creditor negotiations.  That is why accountants and attorneys refer their clients to Emerge180 on a consistent basis.  Look for an organization with a strong reputation with ties to national organizations like the Better Business Bureau.  Ensure the firm clearly states its fees and ask for referrals if necessary.  Lastly, ask if the organization is bonded to protect your payments to your creditors.

Facing debt with optimism energizes the road to recovery and corporate health.  If issues with creditors overwhelm a business owner, it's time to seek help.   By wisely selecting a qualified organization to handle business debt, a company will save money in the long run and recover more quickly.

About Emerge 180

Emerge180, a national firm based in Tampa, Florida, has been helping businesses avoid financial disaster since 1993. As experts in creditor negotiations and tax resolution services, Emerge180 helps businesses work through financial crises, and creates plans that re-position their clients for success. An A+ Accredited Business with the BBB, Emerge180 has facilitated the financial turnaround of thousands of companies…and, in so doing, the preservation of tens of thousands of jobs.

Media Contact: Media Relations, Emerge180, Inc., 1-800-805-1138, info@emerge180.com

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SOURCE Emerge180