Arizona Restaurant Debt Settlement Attorney
Opening a new restaurant is exciting. It is often preceded by years of planning, preparation and saving. A successful restaurant can make lot’s of money or even lead to franchise opportunities. Unfortunately, a large percentage of Arizona restaurants don’t make it. And since owning and operating a restaurant is very expensive, the owner of a struggling or closed restaurant can find themselves with a tremendous amount of debt to deal with.
Types of Debt Common for Arizona Restaurants
Here are some of the many types of debt a restaurant owner can find themselves liable for.
- Commercial Building Leases
- Commercial Building Loans & Financing
- Restaurant Equipment Leases
- Restaurant Equipment Financing
- Vendor Agreements and Supplier Invoices
- SBA Loans
- Business Credit Card Debt
- Personal Credit Card Debt
- HELOC’s & Second Mortgage Debt to Finance the Restaurant
- Loans from Family & Friends
And the list goes on.
Eliminating Restaurant Debt with Attorney Negotiated Settlement
In some cases, bankruptcy may be the only option. But for many, an attorney negotiated debt settlement is a better way to eliminate the debt, without bankruptcy. A bankruptcy filing can stay on your credit report for up to 10 years. And it may hinder employment opportunities and future business plans.
The key is to get the debt behind you as quickly as possible and with as little long term damage as possible.
We understand the different types of restaurant debt and is skilled at negotiating large reductions in debt without bankruptcy. We have decades of experience in debt negotiation, real estate matters and litigation. If your restaurant is struggling with debt, or you’ve closed down and are dealing with the fallout, don’t lose another night’s sleep.
Contact us today for a free consultation with an attorney.