National Credit Awareness and Resolution Association, Inc.

NCARA was established to help small business determine its own destiny by empowering it to negotiate its debt repayment strategies. NCARA is a strong advocate for small business, and expects that debtors repay their obligations in full, but on terms that are acceptable and appropriate to small business, and are also deemed to be prudent for creditors too – under stressful and changing economic conditions. This will require a paradigm shift to have debtors accept their rightful position to lead in the resolution of their debt repayments.      

NCARA believes the ‘plane has flown so far past the point of no return’, where the plane will eventually run out of gas before it can safely land and refuel, there must needs be seasons of default and restructuring in the financial system. These periods will adversely affect small business. Debt levels are increasingly unsustainable everywhere, together with the potential of higher interest rates. Small business debtors, sooner or later, will become responsible for identifying and recommending repayment solutions to creditors – it will be a massive paradigm shift. 

Such solutions will be considered to be the most effective and in the best interests of debtor and creditor alike. The shift will result in a ‘least loss’ situation, and achieve the best win-win results. In order to have the best chance at survival and prosperity, NCARA believes there needs to be more attention paid to small business; not necessarily more bail outs, but for creditors to turn over the baton to the debtors, and debtors stepping-up, taking the baton in their own hands, lead the choir, and finish the race.