- I will send you a one-page retainer agreement which will describe our terms and conditions. We work on a contingency basis. If we do not succeed in reaching an acceptable settlement we do not get paid.
- We will conduct a brief telephone interview with you. In this interview we will discuss the unique situation which has led to your inability to pay back the debt.
- I have found over years of doing this that many of my clients suffer from the same issues. These issues can include:
- loss of a large customer,
- cost-overruns on a job
- tax issues,
- employee issues,
- regulatory issues, etc.
- We will prepare a settlement letter which will describe your difficult situation. Included in the letter will be a settlement offer to the creditor.
- The settlement letter provides the creditor with an understanding of the difficult situation both you and the company are facing. This helps the creditor understand you did not default on purpose. The settlement letter gives the creditor a realistic picture of your ability to pay back the amount due.
- Once the creditor understands that you did not default on purpose and that your company does not have the financial ability to pay back the amount due; we will have established the framework for making a deal.
- We will then send the settlement letter with an offer, (reduced principal amount , payment terms, etc) to the creditor
- Once on retainer, we will begin negotiating on your behalf. During this process you will no longer have to deal with the harassing calls from accounts receivable departments, collection agencies, etc. All of these calls will go to us.
- You have final approval of all agreements and are under no obligation to accept a settlement offer if you are uncomfortable doing so. Unlike many of our competitors we DO NOT require you to put money in an escrow account or to forward the settlement payment directly to our company.
- You always pay the creditor directly.
