An American trucking company, burdened with three MCAs totaling $130,000, found its reduced income insufficient to cover both debt payments and essential operational expenses like gas. This grim situation left the owner without a paycheck for two months.

Solution:

• Enrolled in the Business Debt Settlement Course on June 8, 2023.
• Within 24 hours, used course resources to protect bank accounts and shield cash flow during Phase I, also establishing a system to communicate with creditors.
• Effectively managed creditors in Phase II, halted harassment, and handled legal and financial complications.
• As of July 12, 2023, in Phase III, the owner crafted a compelling hardship letter, learned how to redact sensitive bank statement information, and successfully stalled creditors.
• Currently engaged in settlement negotiations in Phase IV.