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Alternative Debt Resolution - The Six Steps

There are 6 Steps used in Alternative Debt/Dispute Resolution. In this era of lawsuits galore, more and more companies are looking to heal business spats quickly and with less expense by turning to alternative dispute resolution. Below are six steps that professional dispute resolution specialists take when helping disputing parties to resolve their conflicts.

Step 1. Shelving Anger
A successful resolution specialist acts like a neutral third party who can persuade parties to shelve their anger by going beyond egos and hurt feelings to look at the real issues.
Step 2. Finding Common Ground
The second step of a resolution specialist is to help both parties find something they can agree upon. When this happens, parties are able to communicate the issues quicker and ultimately come to a fair settlement.
Step 3. Building Bridges
The best resolution specialists are like marriage counselors. They act as informal referees who make recommendations as opposed to judges who hand down orders.
Step 4. Using Problem−Solving Techniques
People in disputes are more cooperative with each other when they know their position is being communicated in a non−combative, on−aggressive manner. By using consensus−building techniques, more is resolved in less time and with less stress.
Step 5. Communicating With Clarity
When people are emotionally frustrated, it’ s easy not to listen. As a result, issues can be misunderstood. Successful resolution specialists will communicate with clarity their client’ s financial position while giving the other side the opportunity to respond to the facts, as they understand them.
Step 6. Finding Creative Solutions
Dispute resolution creates a compromise that will satisfy both sides. And because it’ s not a court settlement, the results can be fairer and uniquely tailored to suit both parties.

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Interstate Business Solutions provides part-time and interim CFO services, financing assistance and business debt reduction and renegotiation. We help businesses  prepare accurate and timely internal financial statements, reduce expenses, optimize gross profits, improve working capital, prepare cash flow projections, improve profits and cash flow, develop or improve banking relationships, develop financial and strategic plans and guide management through exit strategies, reduce business debts for troubled companies and assist with new and existing financing (loans, equity, venture capital, leases, etc.).

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