Tuesday, December 11, 2018

Settled at 10% of the Debt

A previous client recently approached me with a business related credit card debt.  The collection agency pursuing the claim represented a Visa account for a national bank that my client owed over $22,000 for an old write off.

My initial skilled negotiation efforts resulted in a 65% discount if my client could make a lump-sum payment of $7,700.  Under normal circumstances, this would be considered a nice settlement but my client and I knew this was an old claim and the creditor had few options for enforcing payment.  It did not take long for me to negotiate an additional 10% discount for a total payment of $5,500 (25% of the debt).

Not willing to abandon my efforts despite these favorable results, I continued to press and fight for a lower amount on behalf of my client and worked my way up the chain of authority with the collection agency.

Negotiations lasted several weeks but the final result of my efforts was a settlement for my client in the total amount of $2,200 on the $22,000 debt... or 10 cents on the dollar.

Every claim is different, but each and every one of my clients may always be assured my best efforts possible to reach the lowest settlement with the most favorable payment terms on their behalf.

Wednesday, May 2, 2018

Suspending New Program Sales

Effective immediately, I am suspending new sales of my Business Plan System and Associate Program.

Although helping people new to this profession get up and running has been very rewarding over the years, my core practice has grown to the point I am no longer able to divide my attention between the two.  Please be assured, I will continue to support and assist those folks that have already invested in my programs.  Those that have previously expressed an interest but not yet purchased the material may contact my office directly if they wish to proceed.

Best wishes to all!

Scott F. Soape

Sunday, March 4, 2018

Another Company Rescued!

It is always gratifying when I am able to assist a business owner with problem debts and lessen their financial burden. Often, this can make the difference between continuing business operations or closing the doors.

A case I closed this week not only allowed a business to remain open, it also allowed the owner to avoid declaring personal bankruptcy.

My HVAC client was dealing with a $213,000 business debt that had escalated to a lawsuit... and the owner was on the hook personally. A judgment would have devastated the company and the owner.

I was able to convince the commercial creditor to accept an out of court settlement in the total amount of $30,000, payable in 60 monthly installments of $500 each at 0% interest.

Considering they could have been awarded attorney fees claimed of $25,000 in addition to the principal debt, court costs and back interest, total savings to my client was over $210,000.

Of course, not all of my negotiations work out this well but I have maintained a near 100% success rate over 20 years assisting my commercial clients with their problem and disputed debts.

Wednesday, November 1, 2017

20 Years Assisting Business Owners

This month, my firm celebrates our 20th anniversary with much appreciation to our many satisfied clients.  Below is our recent press release with the official announcement:

Scott F. Soape & Associates, LLC celebrates 20 years in business.


Georgetown resident and entrepreneur, Scott Soape, has provided commercial debt resolution services to small and medium size businesses nationwide for 20 years.   Soape assists business owners with their past due or disputed debts, judgments, liens or lawsuits by negotiating manageable payment plans on their behalf with their commercial creditors.  Since founding his unique consulting practice in 1997, Scott has assisted hundreds of businesses resolve their problem payable accounts, helping many to keep their doors open for continued business and avoiding the need to lay off employees.


According to Soape, most of his business clients are simply experiencing temporary cash flow difficulties, usually because they are waiting for payments themselves, and just need a little relief from their creditors until business picks up or payments are received.  As a highly skilled negotiator and work-out specialist, Scott helps restructure commercial debts so his clients may more easily manage these payments and concentrate on running their business operations.


A Houston native, Scott Soape has lived and worked in the Austin area since graduating from the School of Business at the University of Texas.  With an extensive background in local banking and financial consulting, Soape draws upon over 35 years of business experience in assisting his clients with their commercial debt resolution needs.

            More information on Scott and his service may be found by visiting his company website at www.SFSoapeAssoc.com.

Thursday, April 20, 2017

Credit Score Changes Are Coming Soon

Some big changes are scheduled to how credit scores are calculated.  It is always a good idea to know how you rank and I encourage everyone to check their scores at least annually through the free online site www.annualcreditreport.com.

However, you now need to be aware of the new ways your score will be calculated and possibly change how you manage your debts.

Please click on the below link and a brief article explaining these new calculations:


Scott F. Soape

Thursday, June 16, 2016

Providing Financials to Creditors

During the course of some settlement negotiations, a creditor may request copies of a recent Balance Sheet and Profit / Loss Statement in order to justify allowing a discount on a claim.  Copies of recent tax returns may also be requested.

Providing this requested information is entirely optional.  However, if the information is readily available and supports a financial need for a discount, I usually recommend my client provide the requested documents.  I can review the information prior to sending to the creditor to ensure there is no data included that might adversely affect settlement negotiations.  If desired, I can also request a non-disclosure agreement from the creditor.

If, for any reason, this information is not readily available or if the data does not support a need for a discount on the claim, I can usually steer settlement negotiations away from this topic and move forward for satisfactory settlement terms.

Scott F. Soape

Monday, April 11, 2016

Boost Your Credit Score

Many times when a business owner is experiencing cash flow difficulties with their business, it flows over to their personal financial situation.  Although I limit my practice to only commercial clients, I always strive to assist business owners with their complete financial recovery.

A recent online article from Kiplinger provides 7 ways to boost your credit score.  Please click the below link to view the full article.


Scott F. Soape