Business debt relief starts with the obligations already affecting operations—not a search for another product. Use this guide to build an accurate picture before negotiations or referrals begin.
1. Inventory every obligation
List each merchant cash advance, loan, lease, line, vendor balance, tax obligation, and guarantee connected to the business. Include the creditor, original amount, net proceeds, estimated balance, payment frequency, current status, and contact information.
2. Measure the current payment burden
Compare daily and weekly withdrawals with actual deposits. Then protect payroll, taxes, rent, insurance, and essential vendors. The amount left after those costs is more useful than gross monthly revenue when defining realistic negotiation objectives.
3. Document what changed
A clear hardship explanation identifies the event, date, financial effect, and steps already taken. Support the explanation with bank records, financial statements, project or customer information, and current operating changes.
4. Separate objectives from promises
Decide what the business can sustain before proposing a payment. A proposal should account for slower revenue, ordinary volatility, and every other active obligation. Do not promise a payment based only on an unusually strong month.
5. Coordinate the whole strategy
New Guidance Group reviews the debt picture and connects owners with independent servicing companies that handle negotiations, creditor coordination, and all fulfillment. One creditor conversation should not undermine the capacity needed for another obligation or for essential operations.
6. Review proposed terms in writing
- Payment amount and frequency
- Start date, duration, and total obligation
- Fees, conditions, and required notices
- Treatment of defaults, liens, or guarantees
- What happens if revenue declines again
No outcome is automatic
Creditors can accept, reject, or counter a proposal. Revised payments, reductions, timelines, and final outcomes depend on the facts and are not guaranteed.