The recession has been hard times for almost everybody. A large number of businesses and individuals are staring at the specter of bankruptcy. The slowdown of the economy has been very harsh. Yet everything is not lost. You can look for debt settlement that provides a ray of hope for you to get back on track.
If you are a small businessman in trouble you can look forward from help from ARC. It is a part of the stimulus package offered by the government. You must have heard of America’s Recovery Capitol. ARC has been specially passed to help small business in jeopardy. You can go in for a bank loan guaranteed by SBA called ARC loan.
In order to qualify you have to meet certain requirements. You need to have a business that is at least two years old. You should be able to prove your financial hardship. You can not use the loan to payoff a SBA loan made before Feb 17, 2009.
The positive side of the ARC loans is they are guaranteed by the SBA. In case of default the SBA will arrange to pay off your debt. However your credit score will take a hit. The other option available to you is to approach a debt settlement company. However you need to select the company with care. Ask the following questions.
First and foremost is has the company been rated. The rating organizations study the track record and investigate the performance of the companies. You can also check through the Better Business Bureau. You can check out the customer reviews and complaints, if any, against the company you intend to hire.
There are many scam companies and you need to guard from getting trapped. Never approach a debt settlement company directly. Go through a debt relief network to contact a genuine company.