Lawyers

  Can I Negotiate Down My Business Debt? Most growing businesses take on debt at some point, but sometimes your debt can spiral out of control. If your business is based in New York, you have some options. What Types of Business Debt Are There? Business debt comes from multiple sources: Secured debts – loans like mortgages, equipment financing, and/or vehicle loans. Unsecured debts – loans like credit cards and/or personal loans. Leases – leases for business offices, machinery (like copiers, phone systems, and vehicles). Taxes – federal, state, and local government taxes like income, payroll, corporate sales taxes, and real estate taxes. Payroll – the actual compensation for employees and independent contractors. Basic Expenses – rent, utilities, and other monthly bills from various contracted vendors. How Can I Get My Business Debt Under Control? If you’ve already done your best to cut extraneous expenses and generate more business income, having a deb...