How long does it take to settle a debt?

Typically CannaBIZ Collects can settle a debt within 30 days. We work hard and fast to contact your vendor and finalize a settlement as soon as possible. CannaBIZ Collects assists in contact drafting and settlement agreements to ensure the settlement comes through without hiccups or delays.

What are the benefits of debt settlement over bankruptcy?

Debt settlement is a much better solution than going into bankrupty. Bankrupty can lead to credit reporting issues and a negative public image in the future. By utilizng CannaBIZ Collect's debt settlement services, we can assist with alleviating your debt without the painful process of bankruptcy. In addition, since cannabis is still considered an illegal substance in the USA, bankruptcy is not available for plant touching cannabis companies and may lead debt settlement as your only option.

How does debt settlement affect your credit rating?

Debt settlement has no direct relation to your credit score with the various reporting agencies. Debt settlment is done privately between our client and the creditor, with CannaBIZ Collects as the mediatior and negotiating party between the two.

What is the maximum discount on a modified Debt Arrangement?

There is no set and stone rule for the maximum discount on debt settlements. We consider this an art over a science. CannaBIZ Collects works to understand our client's current situation as well as the situations of their creditors. Depending on the two, CannaBIZ Collects works to reach the maximum discount to quickly and successfully settle the debt without delays or conflicts.

What are the costs associated with a debt modification?

CannaBIZ Collects charges a contingency fee based on the total discount achieved on the settlement. This discount varies depending on the amount of debt needed to settle and the total number of creditors associated with the debt. Call CannaBIZ Collects today to inquire about debt settletement pricing.

Do you guarantee you will settle all of my debts for a certain percentage?

We do not guarantee all of your debts can be settled for a certain percentage. Since we work solely on a contingency fee, the better we do for you, the better we do for us. However we are unable to guanratee the level of success since this is purely contingent on your creditors willingness to comply with our negotiations.

Do you guarantee the lowest fees?

We do not guarantee the lowest fees for debt settlement. CannaBIZ Collects prides itself on quality and value-add versus cost. There are other firms that may charge a lower rate for debt settlement, however they may not be able to achieve the level of discounts we have proven to achieve in this industry. Debt settlement is an art of negotiations and industry connections. We stand above the rest to quickly and effectively settle your debt at a very competitive market rate, but not the lowest.

How long will it take me to eliminate all of my enrolled debt?

It typically takes us between 30-45 days to settle a debt. Payment arrangements and settlement negotiations can add time.

Cannabis Debt Workout & Settlement Specialists

Cannabis Debt Relief: Your Path to Financial Recovery.

STEP 1

SCHEDULE A CALL

Schedule a free call to talk about your case and create a tailored solution for your needs.

STEP 2

NEGOTIATION

We will start negotiating your past-due balances directly with your vendors.

STEP 3

CONTINGENCY FEE

Upon the success of the settlement, we will charge a contingency fee for the amount discounted from your total balance.

STEP 4

PAYMENT

Once you approve the debt settlement, we will invoice you for a contingency percentage of your total balance.

NO SETTLEMENT. NO PAYMENT. PERIOD.

Schedule a Call

Cannabis debt settlement & cannabis debt consolidation

The leading cannabis debt settlement agency!

If your company needs cannabis debt settlement with nationwide reach, CannaBIZ Collects is here to help you work out and settle your debt across the US. By utilizing CannaBIZ Collect's debt settlement and workout services, we can assist with alleviating your payables. Since cannabis is still considered an illegal substance in the USA, bankruptcy is not available for plant-touching cannabis companies and may lead to debt settlement as your only option.

Get a Free Consultation

Why a Cannabis Collection Agency to settle your debt?

CANNABIS DEBT REDUCTION

Cannabis debt reduction is the process of reducing a company’s payables to a lower percentage. If your company has a large A/P balance, debt reduction is the ultimate option for companies that are struggling with high payable amounts. By letting us manage your payables, we can quickly and efficiently negotiate with your vendors to reduce the amount you owe.

HOW THE SETTLEMENT WORKS

By negotiating your past-due balances directly with your vendors, we have the experience and skills needed to significantly decrease your past due balances. CannaBIZ Collects will charge a contingency fee for the amount discounted off of your total balance. Our job is to manage your vendor relations and achieve the maximum discount possible. Since we only charge on contingency, you only pay us upon a successful settlement agreement.

WHEN TO SETTLE YOUR DEBT?

Discover comprehensive debt relief solutions tailored specifically for cannabis companies facing financial challenges. Whether you're struggling with debt, contemplating receivership, seeking to restructure debt balances, or receiving demanding letters from vendors, our services are designed to offer strategic support and relief. We also specialize in assisting companies navigating through mergers and acquisitions (M&A), ensuring a smooth transition and positioning the company for successful acquisition.

The way you handle your obstacles makes all the difference. We’re here to help you overcome them.

We represent any and all companies that directly or indirectly do business in the cannabis or cbd industry. If you are struggling to pay off your debts, give us a call! We can help.

FAQ’s about settling your debt in the cannabis industry

Typically CannaBIZ Collects can settle a debt within 30 days. We work hard and fast to contact your vendor and finalize a settlement as soon as possible. CannaBIZ Collects assists in contact drafting and settlement agreements to ensure the settlement comes through without hiccups or delays.
Debt settlement is a much better solution than going into bankrupty. Bankrupty can lead to credit reporting issues and a negative public image in the future. By utilizng CannaBIZ Collect's debt settlement services, we can assist with alleviating your debt without the painful process of bankruptcy. In addition, since cannabis is still considered an illegal substance in the USA, bankruptcy is not available for plant touching cannabis companies and may lead debt settlement as your only option.
Debt settlement has no direct relation to your credit score with the various reporting agencies. Debt settlment is done privately between our client and the creditor, with CannaBIZ Collects as the mediatior and negotiating party between the two.
There is no set and stone rule for the maximum discount on debt settlements. We consider this an art over a science. CannaBIZ Collects works to understand our client's current situation as well as the situations of their creditors. Depending on the two, CannaBIZ Collects works to reach the maximum discount to quickly and successfully settle the debt without delays or conflicts.
CannaBIZ Collects charges a contingency fee based on the total discount achieved on the settlement. This discount varies depending on the amount of debt needed to settle and the total number of creditors associated with the debt. Call CannaBIZ Collects today to inquire about debt settletement pricing.
We do not guarantee all of your debts can be settled for a certain percentage. Since we work solely on a contingency fee, the better we do for you, the better we do for us. However we are unable to guanratee the level of success since this is purely contingent on your creditors willingness to comply with our negotiations.
We do not guarantee the lowest fees for debt settlement. CannaBIZ Collects prides itself on quality and value-add versus cost. There are other firms that may charge a lower rate for debt settlement, however they may not be able to achieve the level of discounts we have proven to achieve in this industry. Debt settlement is an art of negotiations and industry connections. We stand above the rest to quickly and effectively settle your debt at a very competitive market rate, but not the lowest.
It typically takes us between 30-45 days to settle a debt. Payment arrangements and settlement negotiations can add time.
Negotiating payment plans for overdue invoices in the cannabis business requires a strategic approach. As cannabis debt collection experts, we recommend following these steps: First, initiate direct communication with the debtor to understand their financial situation and willingness to pay. Present a clear and detailed proposal for a payment plan, considering the outstanding amount, interest, and a reasonable timeline for repayment. Be open to discussing flexible options, such as smaller monthly installments or a lump-sum settlement. Emphasize the benefits of resolving the debt amicably, highlighting the potential negative consequences of legal action. It's crucial to document all agreements in writing and ensure both parties are aware of the terms and consequences of non-compliance. If needed, consult with a specialized cannabis debt collection agency like CannaBIZ Collects, who can provide expert assistance in negotiating payment plans and increasing the likelihood of successful debt recovery.
While CannaBIZ Collects specializes in various debt management services, we do not offer cannabis debt consolidation. Our professional team focuses on negotiating past due balances directly with vendors, aiming to significantly decrease outstanding amounts. We pride ourselves on leveraging our expertise and skills to assist businesses in managing vendor relations and securing the best possible discounts.