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Massachusetts Business Debt Relief Lawyers: Options for Struggling Business Owners

Running a small business is tough. As a business owner in Massachusetts, you may have found yourself struggling with overwhelming business debt. When debt gets out of control, it can feel like there’s no way out. But there are options available to find relief – you don’t have to go it alone.In this article, we’ll walk through some of the common situations that lead Massachusetts business owners into debt, and legal options that may help, including:

  • Debt settlement
  • Bankruptcy
  • Debt collection defense

We’ll also share tips from experienced Massachusetts business debt relief lawyers on how to approach your situation. Our goal is to provide you with a helpful overview so you can make the best decisions for your business.

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Common Sources of Business Debt

First, let’s look at some of the common types of business debt that Massachusetts companies take on:

Merchant Cash Advances

Merchant cash advances provide businesses with quick access to capital based on future credit/debit card sales. The catch? If those sales dry up, repayment terms can become unmanageable.“Many business owners take advantage of merchant cash advances when they need quick access to capital for a brief period of time or want to side-step the stringent credit requirements of a traditional term loan,” explains Massachusetts business debt attorney Glenn F. Russell, Jr..

SBA Loans

Small Business Administration (SBA) loans provide access to financing for entrepreneurs who may not qualify for traditional bank loans. But if your business has hit hard times, keeping up with SBA loan payments can be difficult.Attorney Russell notes, “If your company took on debt for any reason and need help getting out of it, turn to The Law Office of Glenn F. Russell, Jr. for help. Our attorney has nearly two decades’ worth of experience when it comes to providing business owners the solutions they need to manage or mitigate their debt.”

Business Credit Cards

It’s common for business owners to rely on credit cards to cover expenses when cash flow is tight. But high interest rates can cause balances to balloon out of control.

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Commercial Loans

Whether it‘s an equipment loan, commercial mortgage, or line of credit, commercial lending provides necessary capital for businesses to operate and expand. But when sales decline, those loan payments don’t go away.

Accounts Payable

If your business has outstanding invoices to vendors and suppliers, you may face collections if you fall behind on payments.

Business Taxes

Falling behind on payroll taxes, sales tax, or other business taxes can result in tax liens, levies, or other collection actions.

Seeking Massachusetts Business Debt Relief

If your business is facing unmanageable debt, taking action quickly is key. The attorneys at The Law Office of Glenn F. Russell, Jr. explain, “Running a business doesn’t always go as planned, and dealing with debt can quickly become a nightmare if you don’t act as quickly as possible to get the help you need to manage your situation.”

While every situation is different, some of the main debt relief options for Massachusetts business owners include:

Debt Settlement

Debt settlement involves negotiating directly with creditors to settle accounts for less than the full balance owed. A skilled negotiator can sometimes convince creditors to accept a lump sum payment for 40-60% of the debt as payment in full. This can be preferable to bankruptcy, which damages credit ratings long-term.According to Massachusetts debt relief attorneys Miller Law Group, P.C., “Debt settlement doesn’t require filing paperwork with a court as bankruptcy does. Instead, it involves the process of negotiating with creditors to lower payments.”

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Hiring an experienced business debt settlement lawyer to negotiate on your behalf can increase the chances of success.


For some businesses, bankruptcy may be the most viable path to dealing with unsustainable debts. Chapter 7 bankruptcy liquidates the company’s assets to pay creditors, while Chapter 11 bankruptcy allows reorganization of the business. Chapter 11 can eliminate debt, reduce interest rates, and create a repayment plan over 3-5 years.Attorney Peter Daigle explains, “Let Attorney Peter Daigle Explain Your Debt Consolidation and Debt Settlement Options. Learn about our Debt Settlement Services and avoid bankruptcy. Clear your loans and fix your bad credit today.”

While bankruptcy damages credit, it provides a “fresh start” for businesses to continue operating.

Debt Collection Defense

If creditors have turned accounts over to aggressive collection agencies, a business debt collection defense attorney can help protect your rights under the Fair Debt Collection Practices Act. Debt collectors cannot harass you with excessive calls, threaten legal action they don‘t intend to take, or contact third parties about your debt.“The complexity of business debt collection requires the knowledge of an experienced attorney. Those facing charges for unpaid debt need to contact Goldberg & Oriel Debt Collection Attorneys, Massachusetts,” says the law firm.

Fighting unlawful collection practices can reduce business disruption.

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