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The
News Journal Business
Monday "Valcor kept us out
of court and negotiated the deal down by $130,000?
said the pharmacist. "Our payments went
from $5,600 a month to about $900 a month.
We aren't out of the woods yet, but we're
OK." Valcor also negotiated new terms
with the drug wholesaler who had lent the
pharmacist some of the cash to buy the pharmacy.
The wholesaler agreed to take 20 percent of
the pharmacy's stock and forgave part of the
debt. "Without the wholesaler's help,
we would have been underwater [sic]",
said the pharmacist. He said he spent about
$50,000 on Valcor's fee, but it was worth
it to save his business.
The
Los Angeles Times Small
Business "Sussman, a Los
Angeles based licensee, who emigrated from
England, is trying to popularize debt mediation.
He has trained affiliates in the United States
and Britain since 1994".
The
Denver Post Business
Mediation can save a firm A Valcor
Affiliate, Peter Connors in Dallas, helped
a mortgage banker negotiate a deal with eight
radio stations he owed $140,000. "We
negotiated that debt down to 38 cents on the
dollar with six months to pay," Connors
said, adding that he believes his negotiations
saved the man's business.
Washington
Business Journal Small
Business Strategies To promote mediation,
Valcor sponsors an intense two-day training
course for people who want to become mediators.
Valcor also provides graduates with proprietary
software and helps to set them up to handle
clients. On any given day, about 5 million
U.S. small business owners are behind on their
bills.
The
Columbus Dispatch Mediation
has helped many small business stay afloat
"Mediation is a much better alternative
than bankruptcy", said John Karpac, a
CPA and Valcor trained mediator in Langhorne,
PA. "Creditors are usually able to get
more than they would in a bankruptcy situation."
Karpac said one of his most rewarding cases
involved a couple whose office manager had
embezzled $100,000 a year for 10 straight
years. When he was finally caught and indicted,
their car dealership was $400,000 in debt.
Karpac worked with creditors to reduce the
debt by $100,000 and found them a new source
of financing. "Their business is their
life", he said. |
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