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Fast Track Debt Relief, Inc.
Wednesday, January 17, 20185eKomi
This process so far makes me feel so much relief. The staff has been extremely kind and helpful.
Fast Track Debt Relief, Inc.
Thursday, March 1, 20185eKomi
It was a wonderful experience dealing with *** @ Fast Track Debt Releif. Very helpful in every way. Thanks again
Fast Track Debt Relief, Inc.
Thursday, February 1, 20185eKomi
The experience with Fast Track has been very easy and *** was very nice and professional, she made sure that I understood everything upfront.
Fast Track Debt Relief, Inc.
Wednesday, May 3, 20175eKomi
My experience with this company has been nothing short of fantastic. I would like to point out especially the excellent customer serve by ***. She was always available, cheerful and worked hard t...
Fast Track Debt Relief, Inc.
Thursday, March 8, 20185eKomi
Fast Track was a pleasure working with. I was really struggling with paying off my debt and they were able to help me lower my payments and pay them off quickly.
Fast Track Debt Relief, Inc.
Wednesday, October 4, 20175eKomi
This company made sure I was not only aware of what I needed to be but also made sure I was comfortable with my decision.
Fast Track Debt Relief, Inc.
Thursday, September 14, 20175eKomi
I think Nelson Casas explained everything to me and made my decision very easy. Thank you ***
Fast Track Debt Relief, Inc.
Thursday, September 14, 20175eKomi
So far everything has been great! Brad is great to work with and so is the attorney. Prayers that everything goes right with our creditors so we can be debt free before too long!
Fast Track Debt Relief, Inc.
Sunday, June 25, 20175eKomi
Something unbelievable but true this program really helped me a lot so far
Fast Track Debt Relief, Inc.
Friday, August 25, 20175eKomi
My experience has been excellent. Everyone that I came in contact with has been very good.
Fast Track Debt Relief, Inc.
Saturday, August 19, 20175eKomi
Great experience. Very professional.
Fast Track Debt Relief, Inc.
Wednesday, January 3, 20185eKomi
To date it has been quick, courteous and mind relieving. Thank you so much for working with me to resolve my debts.
Fast Track Debt Relief, Inc.
Friday, December 1, 20175eKomi
Thus far, the service and assistance have been fabulous. Everything is explained very clearly, and, if there are still questions, they are more than willing to explain until you have a full underst...
Fast Track Debt Relief, Inc.
Monday, September 18, 20175eKomi
Andrea Scott has been more than just helpful. She has explained everything completely. She has answered all of my questions. Great service.
Fast Track Debt Relief, Inc.
Friday, October 6, 20175eKomi
Every one that I had contact with were knowledgeable and experienced. Their willingness to make sure that I fully understood every part of what I needed to know to participate in the program.
Fast Track Debt Relief, Inc.
Thursday, October 12, 20175eKomi
Very professional and kind. It was hard to go this route because I've been in this situation about 8 years ago. You people are very kind and understanding.
Fast Track Debt Relief, Inc.
Saturday, June 10, 20175eKomi
What can I say!! Fast Track Debt Relief was a Blessing in Disguise and Life Saver for me and my family. With over $60,000+ in debt, we turned to Fast Track Debt Relief for assistance. They set up...
Fast Track Debt Relief, Inc.
Friday, July 28, 20175eKomi
Very helpful and professional. I was treated like family
Fast Track Debt Relief, Inc.
Sunday, March 4, 20184eKomi
It was a pleasure to find that there is some one that still help the one that really need it. And take the time to listen and to exlpain thing so that you can understand.
Fast Track Debt Relief, Inc.
Thursday, February 22, 20185eKomi
To whom it may concern, it was a great pleasure working with you and the group. I couldn't have done this without you.
Fast Track Debt Relief, Inc.
Wednesday, August 9, 20175eKomi
I had a very courteous, polite and extremely well knowledgeable about the information I received. All my questions were answered.
Fast Track Debt Relief, Inc.
Friday, October 13, 20175eKomi
*** has help me and explain their business and I am satisfy and very please. I have heard from my attorney very please with him.
Fast Track Debt Relief, Inc.
Tuesday, July 11, 20175eKomi
My experience has been both beneficial and it has relieved all of my stressors in regard to my dealings with my creditors. Everyone has been really helpful.
Fast Track Debt Relief, Inc.
Saturday, July 22, 20175eKomi
I like that they take time to Answer all my questions and don't feel rushed when I talked to them.
Fast Track Debt Relief, Inc.
Friday, November 17, 20175eKomi
My experience with Fast Track has been wonderful due to the concern Ms. *** has. She was so helpful in getting me to understand the plan.
Fast Track Debt Relief, Inc.
Saturday, November 4, 20175eKomi
***was awesome he addressed my concerns and was able to put me into a payment I feel comfortable about making.
Fast Track Debt Relief, Inc.
Friday, December 8, 20175eKomi
My experience with Fast Track thus far has been superb. I felt very comfortable going through the process.
Fast Track Debt Relief, Inc.
Wednesday, May 3, 20175eKomi
I had been so over whelmed with being in debt and truly saw no way out. And with the help of *** and *** I am officially DEBT FREE. I cant begin to tell you how good this feels. And for some time...
FAST TRACK DEBT RELIEF ADVICE BLOG
APR 28, 2016, THURSDAY
Debt Relief Guide for Small Businesses

Will I be able to invest in new equipment? Can I afford to hire a new employee? Will I have enough funds to pay my vendors on time? Will I meet payroll this week?

When you own a small business, worry is part of the territory. According to research firm Gallup, nearly half (49 percent) of small business owners say it is “extremely difficult” to manage their current debt load. Coping with debt is so difficult, in fact, that it plays a major role in the high failure rate of these small companies. What can you, as an owner, start to turn the tide? What credit solutions are available, and how can you create a budget plan that enables you to meet your goals?

 

Debt Relief Programs | Fast Track Debt Relief

The Debt Challenge

Dealing with debt – whether as a consumer or a business – is difficult. Making it more so for small enterprises is the fact that traditional credit sources are often difficult to attain. Consider the following statistics:

  • To obtain a working capital loan, businesses need to be at least two to three years old. This leaves many nascent companies behind.
  • After submitting a credit application, it takes a week or more to hear back from a bank. If you are experiencing a cash flow crunch, this is about seven days too long.
  • Many small businesses are unable to find funding sources.
  • Many owners resort to tapping into retirement accounts, asking family and friends for loans, and using their own savings for funding.
  • Big banks approve only about 20 percent of the requests they receive from small businesses.
  • Small business loans have declined since the Great Recession of 2008.

All of these statistics add up to one undeniable fact: obtaining traditional credit is a difficult, lengthy, and often fruitless process.

Finding Solutions

While statistics can look dire, the truth is that small businesses are the lifeblood of the US economy. It is possible to survive – and to thrive – when you know how to follow a sound financial plan and access tools that can help, from alternative credit solutions to debt relief programs. Some tips to help manage, and conquer, debt:

Take a Hard Look at Your Budget

While you know you’re sliding down into debt, do you know why? Do you know exactly what’s going on in the murky depths of your business finances? Delve in and find out. Look at your budget to get a better handle on income sources and costs, both fixed and variable.

As a small business owner, you likely do not have the capacity for a full-time, in-house finance professional. Luckily, there are alternatives. You can tap an as-needed accountant, utilize budgeting and accounting software, or seek help from nonprofits like SCORE Association. SCORE is made up of thousands of volunteer business counselors who provide mentoring, advice, workshops, and more.

Businesses that cannot afford high-level financial help are the ones that need it those most. Fortunately, there are alternative routes for you to explore.

Make More, Spend Less.

Now, why didn’t you think of that! It sounds too simple to be useful. But there’s no escaping the fact that to escape debt, you need to trim the fat and increase revenue. It’s the “how” that can be challenging.

Let’s look at increasing revenue. You can do this by offering sales and discounts, of course. But if that doesn’t fall in line with your pricing strategy, you can also increase productivity. Can you, for example, boost employee skills and output with training, enabling them to serve customers more effectively and efficiently?

Another option is to reexamine your vendor agreements. Will a supplier give you a discount for prompt payment? Is it time to consider a new vendor who can offer more attractive terms? Don’t get complacent: search for the best deal and either take it or use it as leverage to negotiate.

Think of creative ways to increase revenue, from implementing just-in-time inventory methods to appealing to a new demographic.

When it comes to spending less, it is helpful to go back to the budget. Look at expenses you’re paying for each month that are not providing the necessary return. Is that $200 membership to the trade association paying you back? No? Consider opting out. Is your office space too big? What if you downsized to a smaller space? Some decisions are more painful; for example, is it cheaper and more efficient to have a virtual assistant than a person filling that role?

Communicate with Your Creditors

The worst step you can take when you are dealing with debt is to do nothing. Reach out to creditors, such as your credit card providers, and ask for more favorable terms. You can, for example, request a lower rate, which can save you significant amounts of money each month.

Some vendors or suppliers may be amenable to payment plans or other alternatives. You won’t know until you ask. As difficult as it is, you have to be proactive about managing debt.

Consider Debt Relief Programs

Another worst step: creating a snowball effect when it comes to your debt. For example, your credit card company may convince you to transfer all your balances to them so you can consolidate them in one easy payment. What they leave out is that payment is often exorbitant and carries a hefty interest rate. At best, you’re simply paying interest each month. At worst, you miss a payment or pay late and end up with extra charges on top. It is extremely difficult to pay down debt this way.

What’s a better alternative? Debt relief programs that actually negotiate your debt down, rather than simply roll it into an ever-growing pile of liability and stress. Under such agreements, you pay the debt company monthly and watch your debt begin to disappear. It is not quick and easy; it is a process, but one that offers you a streamlined solution aimed at getting you out of debt for good.

Debt is a big problem for small businesses. Take action now to mitigate your risk and ensure you have the funding you need to grow and thrive. If you need help, reach out to an accountant to debt relief specialist to help you take the first important steps towards financial freedom.

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Testimonials
"Fast Track's Debt Relief financial specialists can give business owners the peace of mind that comes with knowing that the effort has been made to have business debt problems finally settled with Fast Track's help."
Rebecca G.
"The staff was great. They treated me with the upmost respect and answered all of my questions in a timely manner. Thank you!"
Janet A.
"Thank you so much. I never meant this to happen. I felt so bad inside; I always tried to pay my bills. Thank you for all of your help. I do not ever want more credit cards."
Ginger J.
"Thanks so much for your help!! I am so glad this is all over!!"
Melissa H.
"The people of Fast Track are very concerned with the client. They are life changing in our case. Thank you."
Joe L.
"Thanks to all your staff; for the many girls and boys I've alked to. They were always so helpful to answer all of my questions and concerns. I would highly recommend this company to help others in need. Thanks again!"
Tanis P.
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