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      June 2, 2020

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Commercial Debt Counseling vs Goldman & Wise

Best Business Debt Management

To help you find the Best Business Debt Management, TopConsumerReviews.com provides you with an in-depth comparison of Commercial Debt Counseling and Goldman & Wise.

To see ALL of our reviews for the Best Business Debt Management, please Click Here

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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Best Reviews

2020

Business Debt Management Reviews

3 stars
Commercial Debt Counseling

COMMERCIAL DEBT COUNSELING

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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.

In order to get started with this service, you'll have to 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.)

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. We weren't thrilled that we had to enter our name, email and phone number on that page in order to get more information about their business debt management services - especially since the URL wasn't secure, and the fine print said that by providing our information, we'd be consenting to receiving pre-recorded and/or robo-dialed telemarketing calls. (Who needs more of those?)

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.

Unfortunately, when we went this route, it took almost five minutes for someone to respond to our chat request. After just one message, the representative ended the conversation with no explanation. We feel there's no reason it should be so difficult to get basic information about how their business debt services work, what eligibility requirements are in place, and so forth.

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.

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1.5 stars
Goldman & Wise

GOLDMAN & WISE

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Cost:

No fee unless favorable settlement reached

Goldman & Wise claims to have nearly 30 years of experience in helping business owners restructure debt. According to their site, their services can help you handle cash problems, business disputes with vendors and banks, structure favorable financial settlements, and avoid bankruptcy. On average, they reduce "problem debts" by anywhere from 40-80% or more. Best of all, their services are provided on a "No Results, No Fee" basis, so there's no charge for their help if they don't get a settlement that's favorable for your company.

To get started, you'll have to either fill out their online contact form or call their toll-free number. You can also download a free eBook, "The Inside Secrets", if you'd like to get a feel for how you might be able to reduce your business debt in a DIY way - or get a preview of the kinds of strategies that Goldman & Wise may use on your behalf.

It's difficult to say whether or not Goldman & Wise has a strong reputation for handling business debt. There are lots of testimonials on their company site, but there's no independent verification available. The only listing for a Goldman & Wise with the Better Business Bureau is for a collections agency in Florida, not for this debt management company located in Georgia.

To make matters more mysterious, the address given for this company tracks to a co-working suite shared by a financial planner, law office, and an accounting firm. Combine that with a website copyright of 2015, a URL that hasn't been secured, and essentially zero improvements since our last review, you'll soon see why we don't recommend Goldman & Wise for your business debt management needs.

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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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