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Your small business deserves to thrive.

Why people choose Tayne Law

A debt relief law firm

Personalized Program

Every situation is unique. We’ll work with you to find a solution that resolves your debt and frees up your cash flow.

No-billing
Policy

You make one low monthly payment and will never get an unexpected bill.

Experienced NY Debt Attorneys

We have more than 20+ years of experience providing clients with debt relief.

Confidential & Trusted

As a law firm, our attorneys follow strict client confidentiality. Our services are discrete and effective.

Work with Creditors

We work with all creditors, whether you’re dealing with a collections firm, a national bank, credit union, or another lender.

What is business debt relief?

Business debt relief is a service that helps small to mid-sized businesses borrowers lower their debt and free up cash flow. Whether you’re struggling with loan payments, getting calls from debt collections agencies, facing lawsuits, or have a frozen bank account, our team will find the best path forward to resolve your debt and save your business.

An award-winning attorney, Leslie H. Tayne, Esq.

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  • New York Super Lawyer (2015–2021)
  • Top 50 most influential women in business hall of fame
  • Avvo Clients’ Choice Award
  • 16 Leading Lawyers on Long Island
  • Top Legal Eagle
  • Outstanding Women in Law Award

Success Stories

Let’s get your business out of debt

For most small business owners, the situation is complex. You could have hit a rough patch, had sudden expenses, or are dealing with growing unsecured debts. Most clients say that relief comes the moment you start working with us.

In our small business debt relief program, you’re backed by an award-winning team of debt relief attorneys and settlement coordinators. They can uncover the best debt solution available to you and help get your business back on track.

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“We’ve been awarded the ‘Best Debt Consolidation Service’ for 9 years running and are accredited by the Better Business Bureau.”

How it works

  • Schedule your free consultation

    In the consultation, we’ll learn about your business and any loans or debts you have. We’ll also give you a quote for a low monthly program payment to help resolve your debt and explain our no-billing policy.

  • Make the first payment

    After you make your first payment, all communications with creditors happen through us.

  • Let’s align on a strategy

    We’ll create a strategy to free up your cash flow and start saving money again. That way, you can focus on paying down the debt and running your business.

  • We’ll take it from there

    Our staff and settlement attorneys will keep you in the loop as we work with your creditors and negotiate down your debt.

To get started, call (866) 890-7337.
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Dealing with a merchant cash advance?

A merchant cash advance (MCA) is a business financing option where you typically get a lump sum of money in exchange for a percentage of your future debit or credit card sales or income. Our attorneys have extensive experience working with small businesses struggling with debt from a business loan or merchant cash advance. Our straightforward approach to dealing with creditors, lawsuits, and business damages can help save you time, money, and stress.

Serving New York and beyond

Tayne Law Group is a New York-based law firm. We negotiate effectively and settle debt when it makes the most sense for your business. Because we’re a law firm, we’re held to a higher ethical standard than traditional debt settlement and consolidation companies. You can rest assured your debts are in the right hands.

Whether you’re here in New York, located in another state, or even based in another country, our staff and attorneys can help develop a strategy that can help resolve your debt and put your business on the path to recovery.

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We work with business creditors.

People are asking

Debt can be detrimental to your small business and peace of mind. If you’re still in the early stages of struggling with your payments, you may be able to work something out with your lender. Some business lenders may offer the chance to pause payments for a period through forbearance or to get on a modified payment plan.

The longer you’re behind on payments and the less funds available to use, the fewer options you might have, and you could face collections, UCC liens, lawsuits, and even frozen bank accounts. It could ultimately destroy your business.

What’s more, unsecured business loans, merchant cash advances (MCA), inventory loans, and small business credit cards typically require you to personally guarantee the debt, which means that your creditors can go after your personal assets for repayment. They’ll also report delinquencies on your personal credit report, which can damage your credit and hinder your ability to get future credit for years to come.

Debt settlement is a form of small business debt relief that allows you to settle for less than what you owe to your lenders. It can also help prevent collection calls, avoid bankruptcy, and limit the damage to your credit to make it easier for you to keep your business afloat while dealing with financial difficulties.
If you’re a small business owner and need to control debt, we’re here to provide support, answer questions, and make a plan to get your debt under control, once and for all.

Request a Free Consultation

Defaulting on a business loan means you’ve gone a period of time without making payments. Business loan default could harm you or your business. Here are a few ways:

  • The lender may sue you: For many unsecured small business loans and business credit cards, you sign a personal guarantee which designates someone to pay your debt in the case that you cannot. If you stopped making payments, and your guarantor doesn’t make the payments, the lender may sue you, and you could also get a judgment against you and/or your business.
  • You could lose personal assets: If you signed a personal guarantee or run a sole proprietorship and have defaulted on a small business loan, you could be at risk of liens or even seizure.
  • You might lose your collateral: If you used your business to purchase equipment, vehicles, or other major assets, the lender might seize your assets as collateral for the money you didn’t repay.
  • It can damage your business and personal credit: Defaulting on a small business loan, merchant cash advance, or even credit card debts can significantly impact your business’ credit, which will make it challenging to get approved for financing in the future. Lenders may also report the default to consumer and business credit bureaus like Dunn and Bradstreet, Experian, Transunion or Equifax credit bureaus.
  • Your bank account, wages, and tax refunds may be garnished: If the lender sues you and you lose the suit, you’ll have a judgment against you and/or your business. The creditor can then try to garnish your wages and/or freeze your personal,business, or even shared bank account. In addition, that judgment can become a lien against property you own.

Defaulting on a business loan is a serious issue. You may need or want good legal representation, someone who can also help navigate the matter pre-litigation. You’ll certainly want to consider this if the creditor becomes aggressive or threatening.

Call Tayne

If you’re able to, yes. We recommend hiring an attorney for any kind of debt resolution. Here are some good reasons why:

  • The process of settling your debt could cause even more problems, especially if you’re unfamiliar with the law or the debt negotiation process
  • Unless you’re an attorney who does this on a regular basis and knows the ins and outs of the way creditors work, you simply won’t know you’re getting the best deal, and in doing it yourself, you could agree to terms that are worse for you and your business.
  • An attorney can represent you should your debt settlement negotiations escalate to a lawsuit, legal matter in court, or other legal proceeding.
  • A business debt attorney can explain the process to you and act on your behalf as an intermediary between you and your creditor. You probably don’t have the time it takes to deal with this. When you work with us, you can focus on running your business and leave the negotiating to us.

Working with a business debt relief attorney is likely to save you a lot of time and money. To learn how hiring us could be the best decision you’ve ever made, call (866)-890-7337 and speak with a knowledgeable associate about your matter.

Receiving a judgment can be frightening and stressful. If you’ve received a judgment against your business, we can help you understand what this means for you and your business. Working with an experienced debt relief law firm is beneficial because we can support legal needs, and help negotiate down your debt. We’ll work with your creditors to find solutions that make sense.

We make our services simple for you with one low monthly payment that makes sense with your budget. That payment includes the payment to your creditors. The best part about the process is that, unlike a typical law firm, you will not receive a bill from us for services. Call and find out about how our services can help your business today! (866)-890-7337.

Learn more about receiving a judgment

For many people, debt relief is an excellent alternative to bankruptcy. Bankruptcy significantly drops your credit score and can be challenging to recover from, impacting your business’s ability to obtain credit. Unlike bankruptcy, debt relief options like settlement can help your creditworthiness. With debt relief, you eliminate the debt, free up your cash flow, and allow yourself to have much more control than if you were in bankruptcy court.

And when you work with our law firm, we’ll walk you through the process of avoding bankruptcy and be with you every step of the way. We have an open-door policy where you call as often as you like for updates helping to ease your concerns and allowing us to partner with you during the process. It’s all designed for you to succeed in getting the relief you need from the debts that are currently strangling your business.

Learn more about alternatives to bankruptcy

Creditors are required to report to the three credit bureaus, Experian, Transunion, and Equifax. For business debts, that could also include Dunn and Bradstreet. If you’re behind, it may impact your credit; however, using debt relief to resolve your accounts can positively impact your debt-to-income ratio and improve your creditworthiness. In addition, as the creditors report to the credit bureaus that the accounts have been resolved, you’ll start to finally see the light at the end of the tunnel.

Yes, you certainly can. Part of the evaluation and strategy sessions we’ll have with you when you begin is discussing which cards to leave out if any, and the impact of leaving cards or certain debt out to be paid as scheduled.

There are so many risks when trying to resolve business debt without the help of a debt professional. If you’re in the early stages of struggling with your payments, you may be able to work something out with your lender, but navigating negotiations can be just as exhausting as the debt itself. If you’re really behind on payments, you could face collections, lawsuits, and even frozen bank accounts. The creditors can be threatening and even intimidating, especially when they call numerous times a day and send emails and even texts about the debts you owe. It’s best to let a professional handle it for you and get it done for you.

We work with major banks and creditors such as (but not limited to):

  • Bank of America
  • Kabbage Funding
  • American Express
  • Wells Fargo
  • Chase
  • TD Bank

Call us directly to see if we can work with your bank to help resolve any business debts, (866) 890-7337.

Still have questions? Call (866) 890-7337

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Do You Need a Debt Settlement Attorney? 4 Cases When You Do

Unfortunately, debt is a way of life for most Americans. In 2021, total outstanding consumer debt reached a record $15.6 trillion, according to new data from the Federal Reserve Bank of New York. A large chunk of that debt came from mortgages, as well as credit card balances, which increased by $52 billion in the […]

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