If you’re running a business and having trouble making ends meet, you might decide that bankruptcy is the right choice for you. If you do, you may need to sit down with your attorney to work out what kind of bankruptcy is best and when to file. Sometimes, business...
Bankruptcy
Can businesses survive bankruptcy?
Trying to keep afloat is often challenging, especially in the early days of the company. For some, the need for working capital leads them to make credit-based purchases. Coupling these with invoices for services could mean that the company is stretched thin. If...
What is involuntary bankruptcy?
Most bankruptcy filings are initiated by the business or individuals themselves. Typically, they choose bankruptcy as a way to get out from under their debts or reorganize them to get back on to firmer financial footing. Sometimes, however, businesses find themselves...
3 signs that it’s time for Chapter 7 bankruptcy
If you run a business and have found it difficult to maintain it with limited incoming profits, it may be time to look at your options. If you’re falling behind on bills or cannot afford to pay your employees, then you could be in a position where a bankruptcy is...
When Should You Start to Consider a Chapter 11 Bankruptcy?
Chapter 11 bankruptcy, a kind of business bankruptcy, is designed to help businesses restructure and reorganize their debts. During a Chapter 11 bankruptcy, you will usually stay in possession of your business and finances, being able to continue to operate so long as...
Chapter 7 Bankruptcy can Help as you Close your Business
A drop in consumer spending, difficulty finding staffing or even problems with your supply chain may have affected your once-profitable business. It may only take a few weeks for a company to go from generating revenue to deeply in the red and unable to pay their...
Could Chapter 11 bankruptcy help save your business?
Running a successful business requires paying attention to daily operations while maintaining a focus on long-term growth. Sadly, even the most intelligent and experienced business owner may not be able to predict factors such as supply shortages, economic downturns...
Preferential transfers in bankruptcy
Absent a unique catastrophe, people rarely become insolvent overnight. Most of the time, the slide into bankruptcy starts out slow and picks up speed only once the situation becomes truly unmanageable. Sometimes a debtor will route a big payment to one or more of...
What are a bankruptcy trustee’s avoidance powers?
Bankruptcy trustees have an important role. They act as a sort of neutral third-party who is there to balance the interests of both the debtor seeking protection and their creditors. To that end, trustees are given “avoidance'' powers that allow them to negate or...
Chapter 11 bankruptcy: What is it, and why does it help you?
Chapter 11 bankruptcy is a kind of bankruptcy that allows a business to reorganize its affairs. It can reorganize its debts and assets so that it can continue operating in the future. It’s normal for businesses to file for Chapter 11 bankruptcies when they need time...