2026 Best Business Debt Settlement Lawyers in Vermont

Top 3 Business Debt Settlement Firms for Vermont (2026 Rankings)

The Vermont Attorney General has settled with or sued over a dozen debt settlement firms since February 2009, including American Debt Counseling (May 2013), Credit Solutions of America (complaint and order, March 2012), Debt Settlement USA, Clear Your Debt, Boston Debt Solutions, and the law firm Mossler (July 2010). So don’t be fooled, a law firm name is no guarantee. Court papers are public, as are government press releases. If you have already handed a sum of money to a debt settlement firm that isn’t giving you what it promised, you are not the first. Search the Attorney General’s list of enforcement actions and court documents for the company’s name.

The Vermont Bar Association Lawyer Referral Service will give you a free referral by phone, at 1-800-639-7036, Monday through Friday from 8 a.m. to 4 p.m., or online any time. The lawyers in its referral service must be licensed in Vermont, in good standing and must carry at least $100,000 in malpractice insurance. Their first consultation up to 30 minutes costs you no more than $25.

Once you get a referral, you need to investigate the lawyer yourself. The referral service can’t do that for you: only the Judiciary’s Office of Attorney Licensing can confirm whether the lawyer is licensed and in good standing. To check for disciplinary history of a lawyer, check with the same office, not the state bar association. It is free.

Vermont Department of Financial Regulation License

In Vermont it’s the law that any company settling debts for Vermont consumers has to hold a Vermont Department of Financial Regulation license. Don’t pay before you get its name and number and check it. The Department’s list of licensees is available online, as is its list of unlicensed entities. Check both lists before you sign on with any debt settlement firm.

Always be wary of any debt help company that claims or implies it can settle your debts for a specific percentage. Such claims have been found to violate Vermont’s Consumer Fraud Act if not backed by proof the results are typical.

Read the contract before you sign it. Consumers have until midnight of the third business day after signing a debt adjustment contract to cancel it. The Vermont Consumer Protection Act and Rule 113 may also call for specific cancel provisions to be written into contracts for debt settlement. Vermont’s Act 137 of 2010 clarifies what counts as debt adjustment. And a lawyer’s contingent fee agreement must be written, signed by you, and state the percentage of recovery that will be charged.

6 Years to Sue on an Unpaid Business Debt

Timing matters more than you might think. A creditor generally has 6 years to sue on an unpaid business debt. If it sues and gets a judgment, it can renew or enforce that judgment for up to 8 years.

Bankruptcy Subchapter V

A good lawyer can tell you when settlement won’t work and bankruptcy does. There’s now a bankruptcy Subchapter V for small businesses, provided the debt is under $3,424,000. If you can’t afford a lawyer, there are also nonprofit agencies that can help.

Don’t forget that forgiven debt generally counts as taxable income even without a Form 1099-C. The lender files a Form 1099-C for $600 or more once an identifiable event occurs. Bankruptcy or insolvency exclusions may apply. You should ask about them before signing any deal. Settlement can cut your losses, but to find out how much you must factor in your taxes.

So here is what to do this week. Get a name by calling the referral service, check the lawyer’s standing and disciplinary record yourself, check the license of any firm before you sign up, and read every line of the contract.