A big balloon of business debt is enough to drown even the most optimistic entrepreneur. Consolidating pay-outs with these steps will help you see less red and more green:

1. Make a complete accounting.
2. Negotiate with your creditors.
3. Work with a pro.

Action Steps
The best contacts and resources to help you get it done

Take a tally

Get an accurate financial picture by determining exactly how much you owe and to whom — as well as what's owed to you.

I recommend: Add up the arrears with CCH's Debt Calculator. Create a 12-month sales forecast with SCORE's template to determine how long it will take to earn what you owe. To collect any outstanding money owed to your company, call or visit customers, impose late fees or use one of these templates to generate past-due notices.

Liquidate what you can

Turn all but essentials into cash to pay down the debt even further. Secure your remaining assets to shield them from litigation.

I recommend: Put real estate and investment assets into a limited partnership and distribute non-vital business assets to owners. WiserAdvisor can help you in a free search for a financial advisor.

Prioritize your payments

Determine who must be paid now for you to stay in business, and which bills can wait. Offer to barter with your creditors instead of paying cash. Negotiate debt reduction on your own only if you're confident the company won't then file a claim.

I recommend: Call one of SCORE's retired executive volunteers to help with the tough decisions. Bone up on BusinessBalls' Debt Negotiation Tips to make creditor conversations go smoothly. Join a local bartering consortium or the International Reciprocal Trade Association to avoid future debt.

Get outside help

You don't have to go it alone.

I recommend: Companies like Business Capital or Commerical Debt Counseling Corp. can help you restructure your debt. Remember to keep critical suppliers out of the debt-restructuring agreement so vital supply lines stay open.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  List all debts, even those you deem minor or flexible.
• •  Don't make promises to creditors that you can't keep.
• •  Stop doing business with customers who constantly pay late or whose accounts are long past due.
• •  Keep expenditures at a minimum until everything's paid off.
• •  Limit your exposure: Avoid offering personal guarantees on business debt; it can ruin your personal credit history.

Debt consolidation sales leads can be golden to a salesperson with financial options for consumers in trouble. Often the debt sales leads are generated from the clients themselves seeking assistance. You can work to build your own debt consolidation leads through networking and a solid referral program, or you can buy debt leads through a service.

You must work the sales leads for debt consolidation to close the sale for your company, but you are way ahead of the game when you approach a potential customer who already has been qualified and is a legitimate debt consolidation lead. Debt consolidation lead generation can be as difficult as you make it, or it can be a great experience, leading to more referrals and more business.

1. Find a debt consolidation lead generation company that sends qualified leads

2. Offer to speak to groups and develop your own leads for debt consolidation

3. Join a leads group for free debt consolidation leads

Action Steps
The best contacts and resources to help you get it done

Buy debt leads

Organizations that promise thousands of qualified sales leads for debt consolidation often promise more than they can deliver. Be cautious when you sign on to buy debt leads. Utilize those kinds of listing services as an adjunct to your own debt consolidation lead generation. Start with samples from a few of these consumer and business debt leads services before signing on for any long-term commitment.

I recommend: Blue Dolphin Media has an interesting Internet system you could use for leads for debt consolidation. Best of all, they provide a tracking system to monitor the debt consolidation leads and results. Juicy Leads has a pretty tight commitment to quality that might be worth trying a sample of their debt consolidation sales leads.

Turn yourself into the expert to garner consolidation leads

Most small organizations such as church groups and local civic clubs are always looking for speakers. You can build a huge database of free debt consolidation leads by sharing your knowledge with these groups. When they or someone they know needs debt consolidation services, they will call you. This kind of debt consolidation lead generation can take a little longer, but is a good tool to add to your sales efforts.

I recommend: Find a local Rotary Club and offer your services. By joining a civic organization like this, you also increase your networking opportunities to generate even more leads for debt consolidation. Join and become involved in your local Chamber of Commerce. Once you are known for your great speaking abilities and the services you offer to consumers and small business owners, you can expect to see an increase in sales leads for debt consolidation.

Find a working group to get more leads for debt consolidation

Join a leads group where you are the only member receiving sales leads for debt consolidation. Give leads to other salespeople that you cannot use as that will set up the system for back and forth lead generation between you and other members of the group.

I recommend: B2B Power Exchange focuses on decision makers who share business leads in local meetings and online. Find a BNI chapter near you for a dedicated group of salespeople that meets weekly. Develop a short pitch about your services and ask other members to send you their business debt leads and debt settlement leads.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Work the debt consolidation leads that you paid for when you don't have live subjects to follow up with. The leads that come in mass mailing lists are good filler when you are not feeling very creative or outgoing.

If your goal is improving your sales in the debt consolidation industry by buying debt sales leads, it will pay to become familiar with pricing. Consolidation leads services can improve your sales rate, but the cost is significant and many leads never result in a sale. Instead, get to know sales leads for debt consolidation pricing and costs before you create a budget.

Prior to making the decision to purchase leads for debt consolidation, consider the options. Is it more important to find only unique leads or to save money by finding free or inexpensive leads? Think about the following options:

1. Consider splurging on exclusive leads.
2. Buy debt leads in bulk to save money.
3. Find free or cheap debt consolidation leads.

Action Steps
The best contacts and resources to help you get it done

Purchase exclusive debt leads

After some searching, you will probably find that exclusive sales leads are expensive, and for good reason. Debt leads that have not been called recently by others in your industry are considered fresh leads, which means they are more likely to generate sales. The cost for such leads ranges from about $30 to $90. Semi-exclusive leads are less expensive, as they are usually sold to only two or three people. They range in price from $30 to $35.

I recommend: Buy an exclusive lead from DebtLeads.net for $30 to $35. Juicy Leads sells exclusive leads for $90 and semi-exclusive leads for $30.

Buy debt consolidation sales leads in bulk

If you want to save money, but need several leads, find companies that offer a bulk discount on debt leads. This is a good way to get detailed, quality leads at a low price. Expect to pay $20 per debt lead when you buy more than 100, and $30 if you buy just one at a time.

I recommend: Axiom Leads Junction sells 50 debt leads for $30 each, 100 for $25 each or 200 for $20 each. Lenders Mortgage Leads sells debt leads for $30 each if you buy less than 10, and $20 each if you buy at least 100.

Look for affordable debt consolidation lead generation

Some debt consolidation sales lead companies supply agents with less expensive leads than others. Typically, such leads are older and less detailed, or perhaps they have been sold several times. However, they may work well for you. If you can't afford to buy exclusive, fresh or detailed leads, these are better than no leads. Some companies provide potential customers with free debt consolidation leads to try out, or free leads after you purchase a certain amount. Inexpensive leads usually cost less than $10 each.

I recommend: Interactive Market Solutions sells leads for $9 each. Older debt leads from Low Cost Solution are $.75 to $1.50 each.