debt forgiveness

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Latest blogosphere posts tagged “debt forgiveness”

• 9 Business Tax Changes for 2009

  
  The Tax Lawyer's Blog — Authority: 433
  There’s just one month left to do end of the year tax planning for the 2009 tax year so you’d better get on the stick.The IRS website lists 35 tax changes for 2009. Here are 9 of the most significant of those changes:5-Year Carryback of 2008 Net Operating Losses (NOLs) for Eligible Small Businesses (ESBs) – ...
  1 day ago

• Get back to running your business, doing what you do best. Leave the workout to pros.

  
  lets-talk-business — Authority: 131
  Get back to running your business, doing what you do best. Leave the workout to pros. One of the more serious side effects of being under cash flow duress from reduced revenues, are how these issues change your focus from running the business to fighting for survival. Being forced to fight the battles every day, ...
  2 days ago

• Men work, that is what they do. But in this economy you must learn new skills or perish.

  
  lets-talk-business — Authority: 131
  My wife went away with her parents and sister today for a long weekend to visit out of town family. She asked me what am I going to do, and I thought for about a second and said…work, what else. To me and every other small business owner, work is not drudgery, it’s not as if we are going off to the salt mines, ...
  2 days ago

• “One farm at a time”. Saving small businesses from the economic meltdown.

  
  lets-talk-business — Authority: 131
  It is a war! The casualties are very high….you need a plan. There are very few options. We have the way. Unfortunately, the small business owners have been abandoned, left to  defend themselves on their own, with no defense and the battle front is very bloody, many casualties, with no help in sight. That is the ...
  5 days ago

• Fail proof new product and service development…for pocket change.

  
  lets-talk-business — Authority: 131
  Minimum Viable Product, a new phrase, a new idea, but it makes a lot of sense. It works like this. Historically, the release of a new product occurred after a significant investment in expensive development and then a heavy investment in actual production, usually all behind closed doors. A big secret until the day ...
  1 week ago

• Turn defeat into victory!

  
  lets-talk-business — Authority: 131
  Your revenues are dropping like a rock, yet your overhead is always increasing. The debt you previously took was supportable with yesterday’s revenue…but no longer, not with today’s significantly reduced revenues. It is crushing you. We understand…… Yes, we get it. We feel your fear and your frustration. ...
  1 week ago

• Post #600: A tribute to the business owners who have fought and won. Hoohah!

  
  lets-talk-business — Authority: 131
  We spend an enormous amount of time, energy and effort fighting the battles to save our clients businesses, their homes and their lives,  and an  honorable battle it is. Our belief and experience, based on enormous contact with many many small business owners, is that none of our clients would like anything better ...
  1 week ago

• We found the enemy and he is us. (pogo) Part #2

  
  lets-talk-business — Authority: 131
  Yes, once again, we are our own worst enemy. We are in a deep dark recession, revenues are down 20 – 80% depending upon many factors, yet you take huge losses instead of responding as you should. You do not downsize quickly enough or deep enough and as a result you tank yourselves. I met with a potential client ...
  1 week ago

• We fought the Dept of Justice and won, hands down.

  
  lets-talk-business — Authority: 131
  You, of course, all have heard our claim that we are always successful in resolving our clients’ debt workouts. We are sometimes put to an extreme test. Recently we were challenged in a rare exception to our typical representation as our clients have been litigating with the Department of Justice for over two years ...
  2 weeks ago

• Yes, you have a responsibility to present yourself in a light most beneficial to yourself!

  
  lets-talk-business — Authority: 131
  I review many self implemented Offers in Compromise to the SBA, Banks and other creditors, and I am frequently amazed at what I see. Friends, are you not paying attention?  You are in default. You are being foreclosed on or collected against, at the very least. You are facing liquidation and possibly foreclosure. ...
  2 weeks ago

• The collateral and the business is yours until the bank forecloses.

  
  lets-talk-business — Authority: 131
  Listen again, the collateral and the business is yours until the bank forecloses. You own the collateral, assets that are valuable as they make you money and are the heart of your business as well as supporting the loan, being available and earmarked for liquidation by foreclosure upon default of the loan. Therefore ...
  2 weeks ago

• One reason why a third party expert, a consultant, can accomplish more then the borrower.

  
  lets-talk-business — Authority: 131
    Seems silly, hat in many instances the borrower has already attempted to achieve various workout accommodations yet failed miserably, yet with the same fact pattern, same borrower same everything the ‘third party expert’ can accomplish what was already proposed and refused and in many cases do allot better. ...
  2 weeks ago

• Would you do your own brain surgery? Then do not attempt to do your own workout.

  
  lets-talk-business — Authority: 131
  I speak with people all the time that decide to do it themselves. They figure they can fill out the forms themselves and save the fee, so why pay for expert opinion to represent them in negotiating a workout, ‘after all what could be the big deal, I have nothing to give them.’ How wrong could one be. Firs of all ...
  2 weeks ago

• Hard money loans, what’s it all about?

  
  lets-talk-business — Authority: 131
  We all know banks are not lending money. We also know that the few opportunities that may exist fr borrowing are made much more difficult by the banks requiring better credit then ever, and many of you have suffered credit hits because of the current downturn, reduced revenues and increased overhead expenses.  Thus ...
  2 weeks ago

• Waiting to see what happens! Are you kidding?

  
  lets-talk-business — Authority: 131
  I hear this ‘plan’ more often then I choose to admit. ‘I am just going to wait and see what happens…’ And this is a plan? It’s an act of personal financial suicide. It’s no plan, it’s a decision to allow others to control your destiny. It’s avoidance at its best. It is self destruction. So why do ...
  2 weeks ago

• Why do we want to fly you in to meet us and talk?

  
  lets-talk-business — Authority: 131
  It seems quite obvious. To enhance the sales process and close a deal, one might think. More power in a personal pitch, overcomes the internet barrier, get to meet the team and learn more about the process and program. Sure, these all occur but NO, these are not the reasons why. TRUST. Building trust is the reason. ...
  3 weeks ago

• Garnishment, whats it all about? Really.

  
  lets-talk-business — Authority: 131
  It’s like urban legend, many different rumors, many different understandings, here is the straight scoop. First it is different for every state. Some states even have no garnishment at all, others have high minimums of 25% of your check, others fixed amounts. Check below for information although things change so ...
  3 weeks ago

• When does the collateral become the propery of the bank?

  
  lets-talk-business — Authority: 131
  There is one obvious answer, after foreclosure. Until that moment the borrower has title and the bank cannot sell or liquidate anything, the borrower is in total control. Almost true, but not quite. The moment in time that the owner gives up, decides to shut is doors, close down, the liquidation of collateral becomes ...
  3 weeks ago

• I object to the use of a BPO (Brokers Price Opinion). Do not all into this trap!

  
  lets-talk-business — Authority: 131
  In negotiating a workout, in many situations, the conclusion is an amount based primarily on your ‘liquidated net worth’. What else could it be? It is the only reasonable measure of what the result would be in a real defaulted bank loan, foreclosure and liquidation by auction, the only kind of liquidation the bank ...
  3 weeks ago

• Do not hide out. The importance of effective communication and follow through.

  
  lets-talk-business — Authority: 131
  I was talking to a banker yesterday representing a sizable bank with a dedicated workout department, Special Assets they call it, and she commented about a particular borrower whom they were reluctant to give us a workout opportunity, let alone a resolution. I went to speak with her personally as her position was ...
  4 weeks ago

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