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      June 23, 2018

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Best Business

Debt Management

  1. American Finasco
  2. Wngr, Dgls & Green
  3. Goldman & Wise

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Best Business Debt Management

Is your business swimming in debt? You're not alone. Business debt balances are at an all time high. A slowing economy and the jobless rate have severely impacted sales - but not necessarily reduced business expenses.

Many businesses are struggling to get by and continue business efforts while managing significant debt. Staying in business means you have access to a credit line and have cash flow sufficient enough to continue to operate. With receivables due 30 to 60 days it can be a challenge to juggle the financial aspect of any business right now.

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Best Reviews

2018

Business Debt Management Reviews

5 stars
Commercial Debt Counseling

COMMERCIAL DEBT COUNSELING Visit Site

Cost:

FREE Debt Consultation. Based on these results, they can refer you to either commission-based or fixed-fee programs.

TopConsumerReviews.com Best-In-Class Blue Ribbon Award Commercial Debt Counseling, a division of CuraDebt, has been in business since 1996 providing creditor negotiations, business debt settlement, and arbitration services for thousands of companies each year.

As a member of the Better Business Bureau, Commercial Debt Counseling has a long history of successfully restructuring business debts that are held with corporate credit cards, vendors, suppliers, business lenders, and collection agencies.

In order to work with Commercial Debt Counseling your company must have sales totaling $150,000 a year or more and at least $15,000 in business debt.

Commercial Debt Counseling begins the process with an analysis of your company, debt situation, and cash flow. They also work to gain a complete understanding of your company's history, present state, and future goals. You help decide which creditors you wish to pay and how much you can afford. Based on this information, Commercial Debt Counseling quickly initiates the debt restructuring process - where they take over the communication with creditors, thereby allowing you to focus on your business again.

Commercial Debt Counseling is staffed with experienced arbitrators and uses a network of lawyers when needed. Fees include an initial retainer and commission based on their results. The retainer is refunded if you're not satisfied with their efforts to settle debt or create payment plans that meet your business needs.

Unlike other business debt companies, Commercial Debt Counseling asks that you hold onto your funds versus having them place your monthly payments in their trust. This aspect left us feeling much more in control of our finances, as well as gain confidence in Commercial Debt Counseling's intent to provide quality service.

Commercial Debt Counseling offers the highest quality, most affordable business debt management available today. If you have concerns with business debt, Commercial Debt Counseling is the best place to start.

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3 stars
American Finasco

AMERICAN FINASCO Visit Site

Cost:

Administrative fee and Commission based on savings

American Finasco, Inc. is a commercial debt management company that has been in business since 1987. Located in Houston Texas, American Finasco works with clients that have gross revenues between $500,000 and $100,000,000. A member of the Better Business Bureau, American Finasco employs independent sales representatives, and a full-time Account Executive and Administrative staff to help stressed companies improve their chance of a successful business turnaround. A National Referring Attorney Network is also available to handle legal matters for clients legal fees are charged at a reduced rate.

To get started a telephone interview is conducted to verify information regarding your company's financial condition. American Finasco will contact your creditors, collection agencies or attorney to allow clients to receive immediate relief from creditor pressure.

There is an administrative fee and retainer upon engagement with American Finasco. Settlement fees are based on a percent of the savings to the client. Overall, the average American Finasco client pays only 60-65% of their debt load, including fees. Of course, each case is different and you may save either more or less than this amount.

American Finasco has been an accredited business with the Better Business Bureau since 1991. They have earned an A+ rating and have zero outstanding complaints.

American Finasco appears less customer service oriented as the focus of the website describes what they provide versus how they'll help you meet your goals. We also had some concerns with the amount of net revenue required to work with American Finasco, and if that would meet the majority of businesses looking for relief.

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2 stars
Wininger, Douglas & Green

WININGER, DOUGLAS & GREEN Visit Site

Cost:

Commission based on percentage of savings

Wininger, Douglas and Green is a debt management company that provides a less professional website with a heavy sales pitch. Located out of New York and in business since 1990, they utilize certified debt management professionals over lawyers to reduce debt with creditors at an affordable price.

Wininger, Douglas and Green charge a fees based on a percentage of savings to you. Fees are not charged unless you are satisfied with the settlements. For suppliers and vendors that you need to continue to work with, Wininger, Douglas and Green will negotiate with them to help them see the benefits of keeping you as a customer. However, that may mean you have to begin paying C.O.D or prepay for a while until the vendor is comfortable issuing credit to you again.

To get started, you will speak with a certified debt management professional. If that person feels your business will benefit from their service, additional questions are asked including the reason the business is in its current state. You decide how much you can afford to pay and if you need to maintain a relationship with one of the creditors on the list.

Wininger, Douglas, and Green will send a letter to each creditor and let them know they are now representing you. Next a settlement letter is sent to these companies. Once the creditor's written acceptance is received you receive a copy and decide to either accept or deny. If accepted,you pay Wininger, Douglas and Green their portion before the paperwork is finalized.

Wininger, Douglas and Green seem to have limited tactics to reduce debt. Much like the overall picture of the website, a nice letter with the reason for your current financial situation is less than impressive. What would happen if you lost your vendors or suppliers? We recommend you select another provider with a higher level of professionalism and less sales pitch.

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1.5 stars
Goldman & Wise

GOLDMAN & WISE Visit Site

Cost:

Dependent on assistance provided

Goldman and Wise has been providing a number of financial related services for over 19 years. From assistance with debt relief, tax liabilities, and bankruptcy consultation - Goldman and Wise run the gamut. However, the website is awkward and poorly organized. If you can get past the free e-book sales pitch you might eventually find more of the nuts and bolts of what Goldman and Wise have to offer.

Goldman and Wise says they provide several solutions to relieving debt for business owners. From reducing balances to long term installment plans or securing loans from a private investor is dependant on the big picture of each individual company.

Goldman and Wise claims a risk free service but didn't explain costs or any guarantee. The process of working with Goldman and Wise is unclear. WE know that you must call them but we can not confirm any qualification requirements or a start to finish process for you to expect.

Overall, we couldn't find any good reason to choose Goldman and Wise for your debt relief needs. We prefer companies with a better, more professional website along with less of a sales pitch and more specifics on their background. For businesses in debt, the last thing they need is to walk away with less money in their pocket.

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Continued from above

While bankruptcy seems like an easy solution, don't be fooled. Filing bankruptcy may mean the judge could liquidate your business assets - and your creditors may never be willing to lend to you again. Instead, many businesses today are getting help with their business debt in order to turn around their financial picture.

The companies they turn to can provide assistance negotiating with creditors, businesses, and suppliers in order to get your company back on the right track. The best providers are sensitive to maintaining positive business relationships with those important vendors that can make or break your inventory.

When looking for a company to help your business come out of debt, it's important that you select a company that is going to do a good job of reducing your business debt and not leave you worse off. You'll want a company that helps you obtain an effective solution to your delinquent business debt, help return your bottom line to a profitable financial status, and avoid business bankruptcy.

When looking for business debt management there are certain factors to consider in order to have a positive result. Some of these include:

  • Cost. Does the company charge set fees? Or do they base their commission on how much they save you?
  • Requirements. Does the company require a certain level of annual sales as well as a specific size of debt to work with your business?
  • Guarantee of Services. If you aren't satisfied with the service received, can you exit the program quickly and easily?

TopConsumerReviews.com has reviewed and ranked the best business debt management services available today. We hope these reviews help you find the right solution to make your business strong and viable again!

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