11th Jul 2008
If you are having trouble paying your bills, this SCORE booklet might help
There are many situations that may cause a new practice or an existing practice to have trouble paying its bills:
- Like many practices in the Midwest this spring, your business may have been hit by a storm or been flooded out
- You may have had a personal tragedy that caused you to neglect your practice
- You may have been a victim of theft or embezzlement
- You may have been served with a malpractice lawsuit or other legal action
In any of these situations, as well as the difficulties of practice startup, you may find yourself in the position of not being able to pay your business bills.
SCORE (the Service Corps of Retired Executives - an SBA partner) has a new booklet that might help you with these bills. Their brochure is titled Pay Business Debts You Can’t Afford. It’s worth a look.
The booklet takes you through the steps in debt restructuring, from categorizing creditors setting a monthly budget, sending out hardship letters and working with each creditor, and implementing your monthly budget.
Paying Debts
That’s pretty cool, thanks.