Many small businesses are in financial trouble today just like individuals and homeowners are. So it makes sense that they should pursue some of the same options for business debt settlement that individuals do. One of those options is business debt settlement, which means that you enlist the assistance of a company experienced in negotiating with creditors to either lower your interest rates and monthly bill payments, or negotiates for a lump sum settlement by which the business owner can discharge a debt for less than the full balance. Like any other sector of the debt counseling and management market, however, you have to be sure you are choosing a legitimate debt settlement company that will charge reasonable fees and stick with you until the settlement is completed successfully. Otherwise you can be in more trouble after the process than you were before. In addition, some business debt settlement companies can help you get business grants from government agencies designated for debt settlement. If your efforts at debt settlement go awry, you should call a lawyer to help you limit the damage and seek restitution.