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nyc criminal lawyers over 30 years of experienceWe Know How To Win Cases

Spodek Law Group handles tough cases
nationwide, that demand excellence.

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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

Why Choose Us

Clients can use our portal to track the status of their case, stay in touch with us, upload documents, and more.

Regardless of the type of situation you're facing, our attorneys are here to help you get quality representation.

We can setup consultations in person, over Zoom, or over the phone to help you. Bottom line, we're here to help you win your case.

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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

How to Improve Your Business Cash Flow to Pay Off Debt Faster

How to Improve Your Business Cash Flow to Pay Off Debt Faster

Evaluate Your Finances

The first step is to thoroughly evaluate your finances to understand where your money is going. Analyze bank and credit card statements to categorize expenses and identify areas of wasteful spending. Using accounting software can help track cash flow in real-time.

Implement Lean Operations

Running lean operations maximizes profitability so more money can go towards deleveraging. Here are some tips:

Accelerate Receivables

Slow customer payments hamper cash flow available to service debt. To accelerate receivables:

  • Invoice customers immediately upon delivering goods/services.
  • Offer quick payment discounts, such as 5% off for paying within 10 days. This incentivizes fast payment.
  • Accept credit card payments which settle faster than checks.
  • Use invoice factoring to get immediate cash for unpaid invoices.

Use Excess Cash Strategically

With improved free cash flow, strategically allocate excess capital towards paying down high interest debt first.

– Pay off credit card balances in full each month to avoid interest fees.

– Pay down principal on loans with rates exceeding 15% as the ROI is too high.

– For cheaper debt below 8%, make minimum payments only.

Alternative Financing Options

If cash flow is still insufficient to make large debt payments after making operating improvements, consider the following financing options:

  • Debt consolidation combines multiple debts into a single loan with a lower interest rate. This reduces monthly payments and interest fees.
  • Business line of credit offers flexible access to capital that can be tapped anytime. Interest only accrues on borrowed amounts. This provides an affordable way to bridge cash flow gaps.
  • Invoice factoring exchanges unpaid receivables for immediate cash at a small discount. This accelerates cash inflow.

Manage Cash Flow Proactively

Once debt reduction is underway, continuously manage cash flow proactively:

  • Track metrics – Follow cash conversion cycle, quick ratio, and other KPIs to detect cash flow problems early.
  • Forecast – Create cash flow projections to anticipate future shortfalls in advance.
  • Optimize billing – Invoice early, offer payment plans to collect receivables faster.

Final Tips

Improving business cash flow is a very involved process, but imperative for fast debt repayment. Along with the major strategies outlined, here are some final tips:

  • Sell unused assets – Old equipment and vehicles can be sold to generate lumpsum cash.
  • Suspend dividends – Avoid dividend payouts to shareholders to preserve cash.
  • Layoff workers – As a last resort, reduce headcount to cut payroll costs.
  • Offer discounts – Run promotions to quickly collect cash from customers.

Boosting cash reserves while simultaneously reducing debt obligations takes time, but implementing just a few of these suggestions can set your business on the path towards faster debt freedom. Reach out to a small business lawyer for help creating a customized debt reduction plan for your company.

Resources

Articles:

Videos:

Business Cash Flow Calculators:

Improving cash flow is an iterative process, but being diligent to boost reserves while also cutting debt is key to fast business deleveraging. Use the tips in this guide to set your company on the path towards better financial health.

 

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Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

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We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
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