May 22, 2014
GuideSource has negotiated a settlement on a two small lines of credit guaranteed by a high net-worth owner of a failed company. The debt totaled just under $40,000. By negotiating with lenders and identifying potential lender issues, GuideSource negotiated a settlement on the debt allowing the principal to pay $6,200 as settlement in full. Prior to GuideSource’s engagement in the matter, the lenders’ position was the owner was going to be sued unless full payment was received in 90 days. Obviously, the client is thrilled with the outcome.