Threatening calls, letters and visits can take a small business owner's mind off of what it should be on, his business. But when a business is faced with the culmination of unforeseen expenses, an economic downturn and slow payments, that exactly what happens. Creditors become a thorn in the sides of small business owner's when the money is gone. So for the business owner, who does not want to use his bankruptcy parachute, seeking the help of a debt relief organization may be in order.

According to Administrative Offices of the U.S. Courts, 20,260 U.S. businesses filed for bankruptcy protection in the first three quarters of 2007. However, some small business owners view bankruptcy as taking the cowardly way out of debt. Consulting with a financial professional should be the first step for any small business owner who finds himself in trouble. And for some business owners, bankruptcy may be the best option, but it may not be the only option for others. Small business owners can seek the help of debt relief programs. It is a financial organization that will assess the situation and offer small business owners various options of getting out of debt.

One commonly used method of debt relief is debt consolidation. The financial agency will negotiate with creditors, on the business owner's behalf, to merge all of the bills of the small business into one single payment. By doing this, the business owner will have a lower monthly payment, and oftentimes, a lower interest rate.

It is strongly suggested that small business owner take the counseling services offered by most debt relief programs. Even though falling into debt is sometimes avoidable, poor money management can also be the reason. Being equipped with the know-how to keep one's business out of debt counts as an asset.

A small business owner can get very anxious, and at times, desperate when faced with financial trouble, and scam artists know this. If a debt relief program sounds to good to be true, more than likely it is. Scammers prey on the vulnerabilities of the weak, and when a business owner is in debt, one's emotions can prevent him from being rational, so it is best to check out any debt relief program with the Better Business Bureau. That being said, debt relief companies do not go searching for failing business, the services have to be sought after. A business owner should remain skeptical of television ads, cold calls and spam emails promising unrealistic outcomes. Most reputable debt-relief organizations are affiliated with the National Foundation for Credit Counseling, so if the credibility is in question check the company out at the NFCC website.

Debt relief programs work on 100 percent contingency fee. Most debt relief organizations receive its revenue from a percentage of what they save the small business owner, so if they are not successful in restructuring the debt of the business owner, they are not compensated.