In most cases, debtors when they cannot pay their bills, dodge answering phone calls or demand letters. After all, “why speak with a creditor if I have no money to pay them”? So, most often when we are engaged to resolve this problem, they are very happy you have done something.

Most often the phone calls will stop once we are engaged with the creditors. If any should call you directly, you politely tell them that “…because of your financial situation you’ve had to hire a debt management company, Innovative Financial Solutions, to resolve your debt. I am not authorized to write any checks on this so please contact IFS directly at 210-745-1939.” So…they now start calling us looking for money.

Our clients frequently tell us that one of the best things that has happened is that since their phone stopped ringing is that they were able to concentrate on their business and make it more productive. When you think about it, a collector’s phone call comes in demanding money may last only 3 minutes, it has an affect on you for 45 minutes to an hour wondering how you are going to pay them. It shuts down the creativity you need to create more profits, get a better marketing program or new customers. We’ll free you up to do what you know best: Running your own business.

By giving us your unwanted payables, we can successfully reduce your debt, and relieve cash flow to apply to your critical vendors. If your important vendors are working with you, then you do not need to turn them over to us. However, if they have refused further credit we can negotiate the debt while you continue to buy product on COD or CIA basis.

If there are alternatives, there are many reasons one should avoid bankruptcy. First, it will ALWAYS affect your credit. Sure, after it comes off your credit report after 7 or 10 years, whenever you fill out a credit application you are always asked “have you ever declared bankruptcy?”. Secondly, do you really want to publicly say to anyone that you were broke and unable to handle your bills? Psychologically, that affects a lot of people. Finally, bankruptcy can mean more trouble than an owner might expect. Court appearances, trustees who tenaciously examine a business book and the idea of having the courts take over their business they invested so much time and effort into can be disheartening. If owners find themselves in such a situation, finding ways to avoid bankruptcy can be difficult. However, once we are engaged, most creditors want to find a way to keep you out of the bankruptcy courts. Even if they are secured creditors, they do not wish for the time consuming process of bankruptcy to run its course and are willing to settle for less than what they might otherwise secure.

We work on a percentage basis of what is saved. Thus, the more we save you the more money we earn. Over the past 29 years we’ve been negotiating, we’ve saved our clients 40 to 60% off what was owed including our fees. Another way to look at it is that our services are FREE!!! Think about it. If dealing with us you end up paying less than what you originally owed, how much did our services cost?

It matters not whether the creditor has filed suit, secured a judgment, seeking discovery of assets, or even sending the Sheriff to your place of business.. We can resolve all kinds of issues.

First, Innovative Financial Solutions is NOT a law firm. Therefore, we cannot give legal advice or file answers with the courts on your behalf. However, we deal with attorneys 80% of the time whether your case is in the pre-lawsuit or collections stage, the lawsuit and litigation stage, or post litigation and judgment-discover stage when they are trying to take your property or empty your bank accounts. We are successful in securing settlements with these attorneys 95% of the time without our clients having to pay a dime hiring their own attorney. Whether you decide to hire an attorney [we have referrals if needed] is strictly up to you and is available at any point in the process. Even with that, we can work with your attorney to get the best possible resolution to the problem. They can handle the legal filings, we’ll handle the negotiations.

We are 95% successful in achieving a reduction in negotiating with creditors. However, in some situations creditors or their attorney’s will not negotiate a reduction. This occurs when the debtor may own a lot of property that could be sold to satisfy the debt and the attorney knows about these assets such as apartment complexes or other properties. The debtor may have a lot of equity coming to them after even a distressed auction sale and the mortgage, if any, is paid off. In these cases, we negotiate a payout plan within our clients financial capabilities. Full payment plans are only done with our clients pre-approval or request and often times we can eliminate interests, attorney fees and other costs in the process.

Our fees are due and payable when we deliver a written settlement to you. When you become our client, we’ll discuss a plan in which you can pay your settlement and our fees. I think you will understand that the nature of our business is with people and companies that cannot pay their bills. Thus, we do not wish to become another creditor among many. We can delay the creditor payments for the settlement or have the settlement paid over 30-60-90 days to enable you to have the funds to pay our fee when submitted.

Of course, if you have the money. We can negotiate with the other vendors to free up cash so this ‘critical’ one can be paid. We also can negotiate a payout plan on the past due amounts while allowing you to make current purchases.

How is your credit now? Chances are since you are considering debt negotiation your credit worthiness is already in trouble or shows serious delinquency. At this point, by using the Innovative Financial Solutions debt restructuring service we will be improving your credit rating by working towards paying off the delinquent debt.

No. You give us only what you wish for us to negotiate or manage. Sometimes, however, we may need to ‘take from Peter to pay Paul’ to come up with the settlement funds. As I’ve mentioned, we work with your cash flow. Cash is KING when it comes to securing a deeply discounted settlement. The more money you can come up with sooner, the deeper the discount I am able to secure on your behalf. Sometimes, but not always, it may be necessary for us to contact your accounts payable and place a ‘moratorium’ on all payments for 30- 60 days. We can suggest many options for you to get this debt resolved and to come up with the settlement funds. Since our fees are tied to your debt reduction, we want to save you as much money as we can.

If we are working with a company on their corporate debt, we will also look at helping them with some of their personal debt, if they are owners or of the management team.

Dealing directly with your creditors on past due debt is very emotional. Who do you think the creditor could apply more pressure to accept a less than ideal settlement: the debtor who has already failed on their promises, or a third party debt management professional with no vested interest? A commercial debt management program removes the emotion and is the best way to get you out of debt with creditors quicker and more efficiently than if you attempted to do this on your own. Creditors prefer to deal with debt management professionals to be certain that the business has a plan in place to restore their financial stability.
Since Innovative Financial Solutions debt management program is geared toward creditors rather than litigation and bankruptcy, this compels creditors to agree to waiving fees such as, late fees, over limit fees and interest charges in addition to reducing the principle amount owed. Innovative Financial Solutions will protect your assets and work closely with creditors to come to a realistic agreement to prevent litigation.