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Commercial Debt Counseling Review

Monday, November 29th

2021 Business Debt Management Company Reviews

Commercial Debt Counseling Review 3 Star Rating

Commercial Debt Counseling

3 Star Rating
  • Cost: FREE for a consultation
  • Fees based on services provided

Commercial Debt Counseling is a part of CuraDebt, a well-respected provider of debt relief across a wide spectrum of needs ranging from individual taxpayers to business owners.

How much do you owe?

In order to get started with this service, you'll first answer a few questions about your business debt: how much you owe, whether or not you are currently behind on payments, and in what state your business operates. Be aware that Commercial Debt Counseling is not able to offer services to residents of the following states: Connecticut, Georgia, Kansas, Montana, North Dakota, Oregon, Pennsylvania, South Caroline, Vermont, Washington or West Virginia.

Free consultation

As long as your business is located in one of their available states, the next screen will probably tell you that you qualify for a free consultation to analyze your business' debt. For example, we entered the lowest possible amount of debt and said that we weren't behind on payments, and we still were told that we were eligible for that consultation.

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Live chat is an option

Here's a little hack for you: if you click on the Terms of Service at the bottom of the site, the window that pops up not only gives you access to Commercial Debt Management's toll-free number, but also provides the link to their live chat. If you'd like to get more information on your specific situation without signing up for endless unsolicited calls or texts, this could be your way to go. You still have to enter a name, phone number and email, but you will be connected to a representative via live chat, rather than having to wait to be contacted by phone.

Room for improvement

Overall, parent company CuraDebt has a rock-solid reputation, which means that it could be worth your while to jump through the hoops long enough to get a representative to answer your questions. However, because the division of the company specifically dedicated to business debt management lacks transparency regarding all of those services, we prefer to recommend services that do a better job of letting you know exactly what to expect.

Which Company Offers the Best Business Debt Management Services?

If your company is struggling to manage finances, you might be wondering if there's any way to get out from the weight of debts that threaten to crush your business.

Even when the economy is flourishing, it doesn't always translate into more sales of your product or service, making it even more challenging to manage the day-to-day operational costs and long-term expenses associated with running a business. There are many factors that impact business debt. Do you have a sufficient credit line to stay in business? How well are you managing receivables due in 30 to 60 days? You may be struggling just to get by and keep the lights on while still trying to grow your business.

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Business Debt Management Company FAQ

It's not easy to run a business. You probably have various creditors, from office supply companies to third-party vendors of services you need to stay operational. Business debt consists of every financial obligation you have.
Your debt becomes an issue when you don't have the income to make payments to creditors. Your debt may have started out small and grown to unmanageable proportions with a downturn in the economy, or you might have taken out a significant amount of credit to start your business but never had the income to get on top of what you owe.
These services work as an advocate, negotiating with creditors to reduce your debts, establish payment plans, and keep your business open. Most of these services also help you develop a budget to manage your finances going forward.
Results vary, but some businesses see a reduction of as much as 80%! The best debt management services will give you clear expectations: what steps you'll take, what results you can anticipate and according to what timeframe.
No. You should be able to get a free initial consultation to determine if a debt management plan is right for your business. From there, it depends on which partner you select: some charge flat fees for their services, while others go by a percentage of what you save in debt repayments.
Absolutely. There are debt management service providers that have been in business for decades, successfully helping companies of all sizes to get back in the black with respect to their finances. However, it's always a good idea to check out the reputation of any business debt management company you're considering: a strong rating from the BBB and ample positive client reviews are both good indicators that your business will be in good hands.
If you're struggling to keep your business afloat and debt payments are a big part of the reason why, you'll likely qualify for business debt management services. Your initial consultation will connect you with an analyst who will ask questions to get a better picture of your situation and recommend the best approach for managing your debt.
Not necessarily. Fortunately, most business debt management plans are "as-you-go" , so you're not locked into a long-term commitment. But, you'll save yourself time and hassle by choosing a reputable provider from the start, eliminating any fears that you might not get the results you need to reduce your business debt.
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Continued from above...

If any of this sounds familiar, finding a reputable business debt management service could be the light at the end of the tunnel. These services can help you avoid bankruptcy - so that you don't have your business assets liquidated and/or burned bridges with creditors whose good faith you may need in the future!

How does business debt management work? Providers work with your suppliers, lenders, creditors and other businesses to restructure what you owe - all while making sure to preserve your reputation with those third-party entities as much as possible, ensuring smooth relationships in the future. Some businesses see a debt reduction of as much as 80% when using the most effective providers!

When choosing a partner to help you manage your delinquent business debt, you want to make sure that you'll actually be better off after using the service. Your provider should be able to help you improve your bottom line, avoid bankruptcy, and keep your company intact. So, how can you tell which business debt management service is right for you? Here are several criteria to keep in mind as you look through your options:

  • Fees. Most services require you to have a consultation, usually at no cost, before providing details on what they can provide. Be sure to read the fine print and make sure you understand exactly what you're getting before you commit. Will you pay a fixed fee, or is it based on how much they save in restructuring your debt?
  • Reputation. What do other business owners say about their experience when using the service? Has the provider been evaluated by the Better Business Bureau?
  • Requirements. Some business debt management services only work with certain amounts of debt or companies of a particular size. Will your debt qualify for restructuring using the service you're considering?

TopConsumerReviews.com has reviewed and ranked the best business debt management services available today. We hope this information helps you get the resources you need to get your business back in the black and to give you peace of mind!

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