FreshBooks banner ad

How to Restructure Your Business Debt in Tough Times

At certain points in your entrepreneurship journey, you have to consider taking loan.

As many reluctant taking loans, I consider loans as a strong leverage for your business ventures.

But you must fully understand when to take loans and what for before you actually taking one.

Robert Kiyosaki, the Rich Dad Poor Dad author, always mention that there are two type of debts – Good debt, bad debt. Simple – good debt throws money in your pocket, bad debt robs money from you.

Taking Loan to Secure Excellent Opportunity

I love taking loan myself – for a good reason.

If an excellent opportunity is suddenly within reach, I gotta find a way to secure it, otherwise it’s gone forever.

Yes – it’s true that good opportunities are come and go. However, the excellent ones are rarely do so.

When borrowing from your family and friends is not accessible, taking loan from financial institutions is the way to go.

What If Your Good Debt Turned Into Bad Debt?

If you happen to use credit cards to finance your business – beware.

The high interest rates will drain the life out of your business faster than you imagine. The compounding interest rate of credit cards is the major culprit that people often overlook.

Some say that being ignorance is bliss, but in my opinion, it’s NOT a good attitude toward credit card debts!

The scenario – What is your good debt turned into bad debt?

That scenario happens more frequently especially in today’s global recession. I see business, including my businesses, having difficulty in managing the debts due to the recent recession hit.

You have to play smart – you need to restructure your debt. Otherwise, you can expect debt collection agencies to terorize you with calls.

Restructure Your Debt – Help is Around

Even Donald Trump, for once, need to restructure his debt to avoid bankruptcy. It’s an unfortunate event nobody wants into.

However, if you are indeed in debt problem, especially if you use credit cards for your business, you need business credit card debt consolidation help.

The main idea is to pay your debt faster with the minimum impacts – What kind of impacts? Both the debt itself and the harassment of debt collection agencies.

How to find the right debt management company for you? You can look for it by yourself, or you can use the help of a company that will match you with the right debt management agency.

I suggest you to consider the latter.

Good luck in getting out of your bad debt!

Ivan Widjaya
Managing Debt

About author

Ivan Widjaya
Ivan Widjaya 3503 posts

Ivan Widjaya is the Owner/Editor of, as well as several other blogs. He is a business blogger, web publisher and content marketer for SMEs.

Funding Note

You might also like


Prime Outsourcing: Offshore Staff Leasing Company

You can’t deny the fact that outsourcing is so hip! From humongous companies, such as Microsoft, to your neighbourhood two-wheeler repair shop, Mike the Motorcycle Mechanics – all do outsourcing


Business Review: OneSource – The Source of Real Wholesalers

With the recent issues on eBay – please read my previous post about this, The Tipping Point: eBay Got Tipped – dropshipping business takes a hard hit, simply due the


I left Google Adsense, AdBrite and Bidvertiser for RevResponse

Do you have a business or tech related blog? It’s time for you to consider RevResponse. Learning about the potential of RevResponse made me abandoned my Google Adsense, AdBrite and