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Business Debt/Collection calls for a Business Credit Card

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Expert: - 6/3/2008


Question
My wife and I have a Business Credit Card that has been turned over to collections.  At this time we are just unable to afford to pay it, however they continue to call us.  Is there anything similar to a 'Cease and Desist' consumer letter that we can do as a business entity to send them so that they will stop calling us until we are more able to make payment.   Thank you.

Answer
Derrick:
Thank you for your inquiry. I will begin by cautioning that the slope you intend to climb is slippery at best. A Cease and Desist in my experience does nothing more than escalate collections to a legal pursuit for monies. If you indicate to a creditor,(who has a right to collect monies owed) that no one will talk to them about resolution or to stop all communications, it's futile and damaging. I realize the incessant calls can be annoying but you would be better addressing a plan to pay something small over time or settle the debt to end the collections. You can temporarily screen your calls and not speak with creditors until you decide on a plan. If however the collectors are calling you at a place of employment, you can send them a letter advising them if calls persist, your employer may terminate you due to the personal nature of their calls. May I suggest enrolling in a commercial debt settlement program if the debt is greater than $10,000 or if not than get a supervisor on the phone at the collection agency and express the hardship you now face and come up with a payment plan. If you have no funds available, than perhaps you might consider consulting with a bankruptcy attorney. I wish you the best.

Respectfully,

Christine Janklow

Business Debt

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Christine Janklow

Expertise

As President of SettleSource,Inc. a business debt settlement firm, I invite you to inquire about all aspects of business debt solutions to best determine which may be most appropriate. If you have questions such as: What is debt settlement and how process provide debt relief to my business? What options are available to deal with my business debts? Is it possible for a business owner to negotiate their own settlements? Why is debt settlement preferable to filing a bankruptcy or debt consolidation? Why are creditors willing to provide settlements to a business? How will settling debts affect credit scores? or How to rebuild a business after debt is eliminated. Please ask it now! For more information regarding how debt settlement can help your business, please visit www.SettleSource.com and place your inquiry. Mention All Experts to have a confidential no cost consultation with Christine. If this is your business situation time may play a very important factor in getting matters resolved proactively before they have negative affects on the business.

Experience

My expertise is specific to providing business solutions that will have profound positive impacts on the financial health of businesses. I have 25 years experience as an entrepreneur and have developed national sales programs; strategic alliances; product development; marketing programs; business and turnaround plans and debt settlement programs all providing methods to improve the financial outlook for large and small businesses. In the area of commercial debt settlement I have over 10 years experience working with large and medium corporations and closely held businesses to enable successful debt reduction and turnaround. I am a professional debt arbitrator and have negotiated with major banking institutions as well as vendors, suppliers and other trade creditors.

Organizations
Provisors;Turnaround Management Association; Los Angeles area

Publications
Accounting Today; Web CPA; National Restauarant Association;Los Angeles Daily News; Today Magazine Monthly series of business articles entitled "Brand News."

Education/Credentials
Bachelor of Business Administration; Associate of Arts Merchandising

Past/Present Clients
American Airlines, American Express, Safeway Inc., New York Life, consumer products manufacturers; retailers, food service industry and other small businesses and service providers.

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