Debt relief for business owners
When you run a business, the line between business and personal money blurs. Slow seasons end up on personal credit cards, and business cards and loans you guaranteed become your responsibility. See how your options compare, then get a free evaluation that looks at all of your debt together.
Total of credit cards, personal loans and medical bills.
Estimated savingsvs. paying only the minimum*
$109,887
Prefer to talk? (877) 800-0292
Free, no obligation, and checking won't affect your credit score. *An estimate, not a quote. Assumptions
Can business owners get debt relief?
Yes. Business owners can use debt relief for personal unsecured debt like credit cards, personal loans, and medical bills, the same as anyone else. Business credit cards and other unsecured business debt you personally guaranteed may also be addressed. Secured loans and SBA loans follow different rules, so your evaluation looks at each debt separately.
- Personal credit cards, loans, and medical bills
- Business debt you personally guaranteed
- A plan built around irregular, self-employed income
Why business owners end up carrying debt
Running a business puts pressure on your personal finances in ways a paycheck job doesn't.
Uneven income
Slow months and late-paying customers mean personal bills often go on credit cards until revenue catches up.
Personal cards funding the business
Inventory, payroll, and equipment often get charged to personal cards, especially in the early years.
Personal guarantees
Most small business credit cards and many loans require a personal guarantee, which makes you personally responsible if the business can't pay.
High-cost short-term financing
Merchant cash advances and similar products take daily or weekly withdrawals, which can squeeze both business and household cash flow.
How debt relief can help business owners
One clear picture
Your evaluation lists all of your personal debt and any business debt you're personally liable for, and flags what's secured.
Resolve personal debt
Personal credit cards, loans, and medical bills can be negotiated for less than the full balance or restructured.
Address guaranteed business debt
Eligible unsecured business debt you personally guaranteed can be included in the same plan.
A payment that fits your cash flow
One monthly deposit sized to what you can afford, so you can keep the business running while you get out of debt.
What business owners should know first
- Secured loans, equipment financing, SBA loans, and tax debts are usually handled differently from unsecured debt.
- If you're self-employed, expect to show recent bank statements or tax returns so your monthly deposit is based on realistic income.
- Some merchant cash advance contracts let the funder act quickly if you stop payments. Read your agreements before you change anything.
- Settling debt can lower your personal credit score, and forgiven debt may have tax consequences for you or the business.
Common questions
Can a business owner settle personal credit card debt?
Yes. Your personal credit cards, personal loans, and medical bills are eligible for debt relief the same as for any other consumer. Owning a business doesn't change that.
Can I settle business credit card debt?
Often, yes. Business credit cards with a personal guarantee are unsecured debt, and card issuers sometimes accept less than the full balance. The guarantee means the account can affect your personal credit.
Can I get debt relief if I'm self-employed?
Yes. You'll need steady enough income to make a monthly program deposit. Bank statements or tax returns are typically used instead of pay stubs.
Are SBA loans eligible for debt relief programs?
Usually not. SBA loans are federally backed and have their own hardship and settlement processes, so talk with your lender about options.
See what you could save.
Two minutes, six questions, no obligation. Checking your options won’t affect your credit score.