Q:

I need some legal advice and I know you must know some lawyers that work along with 
chiropractors. I am in practice 6 months and my loan was taken out to start my business 
with a consulting group. They cosigned my loan to help me, which is rare and I was 
grateful and I am doing well, but I only see an average of 25-to-25 per week. I am slow but 
it seems to be slow these days for most of the chiropractors. I do lectures and screenings 
and I get out and involved in civic groups and church functions and the gym, I do what I 
can do. 

I just moved here, so it has been a learning experience and a tough road getting started. I 
am just now getting to know more people, get recognized more in my community and I am 
starting to be known as a chiropractor in the area. 

I seem to have over anxious cosigners who want me to be grossing far more than I am right 
now. I am not on insurance provider lists, but trying to get on some at the current time. I 
have more cash patients and some out of network insurance and personal injury cases. 

They want out. They want me to find a different cosigner and they want to renegotiate my 
contract, which I don't believe they can drop me, renegotiate anything or even get off my 
loan. The banks said they would not let me stand on my own for at least 2 years out in 
business before they would consider it. 

What leg do I have to stand on. They have never given me advertising dollars so I don't 
advertise. It has all been me footing it around town and word of mouth and patient 
referrals. I have good retention and I have a great personality. But, I am not a sales person 
and yet I am a good speaker and enthusiastic and outgoing, I am not seeing the 150 to 200 
patients a week everyone talks about. I would like to be up to 50 or 60 right now. They are 
putting pressure on me and I only have $9,000 of capital left to my business. What do I 
do?

A:

Thanks for the e-mail. Sorry you are having difficulty. One rule in business .. never sign a 
contract without your lawyer reviewing it. As is often the case .. we either trust the folks 
we're dealing with .. have little money to hire a lawyer .. or no time. But .. as you have 
found out the hard way .. when it hits the fan you are left out to dry.

No lawyer can give you sound advice without reading your contract. If there is none then 
they have no room to stand on. I imagine they have some form of commitment you and/or 
they signed. This should be reviewed by some lawyer or adviser. Depending on where you 
live .. there may be free or discounted legal or small business help. Look in the phone 
book. Do an internet search for „Small Business Help¾ 

Remember contracts usually have clauses. If they are pushing you to succeed and you are 
trying your best .. then they took the risk and so be it. All business ventures have risks and 
they used venture capital to get you started. The landscape today is cluttered with new 
businesses with the best intentions that have failed. In your case .. you didn't fail you just 
are on a slower pace. If they want out .. they can exit the deal and take their loss. Here is 
where the clauses comes in handy. There probably is some exit language. 

Have a Great Day and Good Luck

Dr. M