IS IT ETHICAL?
What is meant in a business setting by the concept "ethical"? Looking it up in the dictionary will tell you that it means: "conforming to professional standards of conduct..."
IN THIS CONTEXT CONSIDER:
We intervene in the process as professional negotiators, freely engaged by the troubled party. We then openly interface with your creditors and lay out all the facts of the circumstances he may not be aware of. We then offer a compromise to resolve the problem. We do not, and cannot, force an agreement. Our job is to inform your creditors of the facts of the situation, explore the various scenarios with him and their probable outcome and suggest a resolution that will provide some benefit for both parties. It is solely up to the creditor to decide if the offered compromise is acceptable and beneficial to him. He always has an absolute right of results... as do you!
Of course, there is sometimes anger and pain for your creditor who is having the same problem we all are and it is often a painful business decision to feel the necessity of accepting less. But not only does his business sense tell him that the circumstances warrant it, he also has civic concerns. He knows that these are tough times for everyone and he does not want to drive the last nail into the coffin. He knows you are going to pull out of this and come back to him in time. He needs to solid core of a solvent business community around him for his own future well being. This is only common sense.
There is also pain on your part as you are writing checks to your creditors at a time when it is really tough to do so. By accepting a fairly offered compromise brought to him and discussed, shaped, produced and followed through on in a totally ethical manner, he is, in fact, investing in his own future and the future of his and your community.
This is not a situation without problems, but ethical? You bet it is! We benefit both sides to the maximum possible under the existing circumstances. Do you imagine that your creditor does not know this?
In contrast, consider the losses to everyone, particularly those who will not survive this economic crisis.
ETHICAL? We're staking our business life on it.