Negotiating Debts and Clearing Liens before Closing

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March 16, 2026

by a searcher from University of California, Irvine in Irvine, CA, USA

I have a purchase option for a distressed California-based business that currently has approximately $2 million in outstanding debts and liens. I was given a limited power of attorney to negotiate these obligations, which include a mix of SBA loans and merchant cash advance loans. Ideally, I would like to arrange settlements so that the debts are paid simultaneously with the closing. Would it be advisable for me to handle these negotiations myself, or should I engage a law firm or specialist who focuses on debt restructuring? If outside assistance is recommended, I would appreciate any referrals to firms or attorneys experienced in negotiating SBA and MCA debt in connection with business acquisitions.
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Reply by a searcher
from University of Chicago in Seattle, WA, USA
@redacted‌ one of my clients has done this for hundreds of businesses with a great deal of success. It depends on the types of debt but these guys are the experts. They have a team of lawyers that support them. Please reach out www.lawrenceilerner.com/contact
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Reply by a searcher
from University of Toledo in Shaker Heights, OH, USA
Thanks @redacted‌, as with everything, we'd have to analyze the entire financial scenario, but in brief, I'm open to a conversation. We are contingency only in these type of engagements.
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