PRG Assisted a Living Care Provider Who Was Indebted to a Financial Lender Specializing in the Healthcare Market
Parties Involved
Creditor: Financial Lender specializes in the healthcare market and provides financial solutions for healthcare professionals.
Debtor: An assisted living care provider at a healthcare facility that received financing from the lender.
Client Hardship
The assisted living care provider faced significant financial difficulties, including a forced shutdown due to the COVID-19 pandemic. This situation severely impacted their financial stability, making it challenging to meet their financial obligations to the lender.
PRG's Role and Settlement Negotiation
PRG, representing the assisted living care provider, played a crucial role in negotiating a settlement with the financial lender. Lindsey Aguilar, Client Services Associate, spearheaded the effort.
Communication with the Lender
PRG regularly communicated with the lender, discussing the settlement terms and promoting the client’s hardship narrative and reasons why a discounted settlement was in both party’s best interest.
Client Communication and Guidance
PRG kept the assisted living care provider informed throughout the negotiation process as well as through the final settlement. The settlement agreement, reached in April 2024, included the following key terms: The assisted living care provider agreed to pay the financial lender a reduced sum of $45,000, significantly less than the original claim amount which was originally claimed to be $59,095.97 representing nearly 24% savings. Structured Payment Plan: The settlement amount was to be paid through a structured plan, without interest over varying monthly installments. This approach aimed to alleviate the financial burden on the client by spreading the payments over time. The payment plan was extended to April 2027, providing the assisted living care provider with a reasonable timeframe to fulfill its financial obligations.
Outcome and PRG's Contribution
The successful settlement allowed the assisted living care provider to resolve the financial dispute with the lender under revised and more favorable terms. PRG’s expertise in negotiation, document preparation, and client guidance was instrumental in achieving this outcome. By securing a reduced settlement amount and a structured payment plan, PRG helped the assisted living care provider mitigate the financial impact and avoid potentially lengthy and costly processes. This resolution allowed the client to focus on its financial recovery.
Conclusion
PRG’s diligent efforts, as reflected in Lindsey Aguilar’s client file, were crucial in navigating the financial difficulties. The proactive communication, detailed document handling, and strategic negotiation ensured a favorable outcome for the assisted living care provider, exemplifying PRG’s commitment to their client’s best interests amidst significant hardships.
PRG has over 15 years of experience in debt negotiations and settlements. However, please note that results may vary. Each case is unique and influenced by multiple factors including, but not limited to, the amount and type of debt, the debtor’s financial situation, and the creditor’s willingness to negotiate. Therefore, while we strive to provide the best possible outcomes, we cannot guarantee specific results.
About Pacific Resources Group (PRG)
Pacific Resources Group is a leading provider of settlement negotiation services. They are committed to helping businesses resolve problematic debts quickly and efficiently. With a team of experienced negotiators, PRG has a proven track record of success in transforming financial challenges into opportunities for growth.
Our Promise
At PRG, our mission is to serve as a trusted ally for small busienss owners, guiding them through the complexities of strategic debt negotiations and financial management. Through clear communication, practical solutions, and ethical practices, we empower entrepreneurs to make smarter decisions, maintain consistent profitability, and achieve lasting success.
Our vision is to revolutionize financial consulting for small business, making the sophisticated realms of corporate finance, operations, and complex negotiations accessible, understandable, and no longer a bottleneck for progress.
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At Pacific Resources Group, we go beyond financial consultancy. We aim to empower our small business clients to achieve long-term success with the same passion that ignites us.
With over 15 years of experience, Pacific Resources Group transforms financial challenges into opportunities. Guided by integrity and expertise, we are committed to your business’s growth and success. Partner with us for a journey towards financial excellence.