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Donald Todrin
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108 followers
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Donald's posts

I love fall as well. Actually I love all four seasons each one has its own beauty and charm. Together all four make the year go by so fast. Enjoy every day of your whole life. We only do it once. 

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If you have an unresolved SBA debt with the US Treasury Department, you have likely been told by them that "any settlement offers below 50% will not be reviewed" 

NOT SO!

The good news is that we have been successful in settling with the US Treasury Department lately. What was once a department that rarely took low offers, is becoming more flexible...so read this article to learn more about your options. 

http://secondwindconsultants.com/how-to-successfully-negotiate-with-the-us-treasury-department

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Many of you business owners out there have business partners and let's face it, these are not always a match made in heaven. 

When things are good, no one thinks about your joint debts, but what happens to the debts you co-guaranteed when your business goes into default?

If your partner files bankruptcy, you are basically left holding the bag...so read this article to understand what your options are.

http://secondwindconsultants.com/my-business-partner-filed-bankruptcy-what-happens-to-our-joint-debts

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Many of our clients suffer a credit hit when their business gets into trouble. When the workout is finished they ask us how to rebuilt their credit rating. So what is the best way to get your credit score back up?

There is no one silver bullet, but utilizing a combination of these strategies will certainly get you on track. 

Read this article to learn what you can do now to rebuild your damaged credit score. 

http://secondwindconsultants.com/what-can-you-do-to-improve-your-credit-score-easy-steps-to-rebuild-your-credit-fast

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So your business cash flow slowed down and you needed capital to keep your business going. You went to the last funding source out there...the merchant cash advance, didn't you?

Now you realize you can't fulfill their ridiculous payment terms, right?

So, you are now wondering, what happens if you end up defaulting on a merchant cash advance loan.

In fact, I would say that most of our new clients carry merchant cash advance loans these days. It's no surprise, as this has been a huge growing industry when traditional banks refused to lend to small businesses. There have been $billions of loans through MCAs since 2009.

So please, do yourself a favor and read our article on the subject to find out what your options are.

http://secondwindconsultants.com/defaulting-on-a-merchant-cash-advance-loan

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If you are struggling to pay your SBA loan, when you default and fail to reach a settlement, do you know where that loan is going for collections?

It ends up at the dreaded US Treasury Department. 

We receive calls every day from debtors who are struggling with the US Treasury Department. This is a huge nasty organization that collects tax debt, defaulted student loans and other federal debts. You don't want to end up there. 

If your loan does end up at the US Treasury, READ THIS ARTICLE to understand what the "Treasury Offset Program" means. 

http://secondwindconsultants.com/how-do-i-settle-my-debt-with-the-us-treasury-department

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Are you in default and worried about your retirement accounts?

So you and your business are feeling some financial stress. You may have borrowed from banks, family members and depleted savings to keep your business alive. All you have left is your retirement accounts. So are they safe from your creditors if you default?

READ THE FULL ARTICLE HERE BELOW to find out the answer.

The reality is that it all depends on what type of accounts you have and the laws of that particular state. Read the article and you will find out more about your particular situation.

http://secondwindconsultants.com/can-a-creditor-take-my-retirement-money

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Clients always ask us, "how should I prioritize all my creditors?" It turns out, most of them have never created a business debt management plan or even know how to begin. 

The truth is, when a business has tight cash flow and creditors pressing them for payment, it is hard to know who to pay and who to push off. You need to create a proper debt schedule and debt payment plan and set your priorities. 

And most importantly, you need to stick to your plan once you set these priorities. 

Learn how by reading on below....

http://secondwindconsultants.com/business-debt-schedule-how-to-best-prioritize-your-debts

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Clients always ask us about debt forgiveness converting to ordinary income. What does this mean in plain English?

If you are forgiven of a debt, the IRS sees this debt as "income" and you can be taxed on the amount of debt you had forgiven.  

Wow! This could mean a huge tax bill if you owe a lot of money, but there are some things you should know about avoiding this tax. 

The truth is, almost none of our clients ever pay tax on their debt forgiveness.  Read more about this issue here. 

http://secondwindconsultants.com/how-does-debt-cancellation-income-affect-your-tax-return

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In my last blog post the ONE question everyone was asking us over and over again was: 

"I have a SBA lien on my house, how do I take it off?"

Great question, so we decided to write a follow up post to help you from losing your home because of the SBA's lien. Truth is, YOU CAN LOSE YOUR HOME in an SBA default if you do not deal with the lien properly!

To prevent you from this disastrous situation, read this article. 

http://secondwindconsultants.com/how-to-get-an-sba-lien-release-on-your-home
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