Real Solutions for Overwhelming Business Debt
Warning: Even established corporations and savvy businesspeople can fall prey to disreputable companies offering business debt consolidation and workout services. Don’t fall for a scam. When your business' future is on the line, you are better off consulting an experienced, licensed and insured attorney.
Many small and mid-sized companies facing crushing debt believe that the only options available are to file for Chapter 7 bankruptcy liquidation or a Chapter 11 court-managed business debt workout.
Either of these may be the best option for your company, but there are disadvantages to consider when filing business bankruptcy. Under Chapter 7, the company you have worked so hard to build will effectively cease to exist. Chapter 11, on the other hand, may require an up-front payment of tens of thousands of dollars … capital that may simply be unavailable in these troubled times.
If you have decided that you want to stay in business, resolve creditor disputes, delay and/or reduce payment commitments and maintain a good working relationship with your creditors, vendors and lenders, the team at Weintraub & Selth can help. Contact us today to schedule an informative initial consultation.
A Negotiated Business Debt Workout May Be the Answer
Our team of experienced attorneys can help you explore the option of setting up a negotiated business debt workout that helps you avoid liquidation under Chapter 7 or the expense of Chapter 11. If this is not workable than our experienced bankruptcy professionals are able to help you through that process as well. Unlike many bankruptcy law firms that charge enormous upfront retainers, we have developed a flexible fee structure which has been approved by the courts and may allow you to file a business bankruptcy case if one is needed.
This form of business debt workout can be beneficial to both your company and your creditors. You may be able to protect assets more effectively than under Chapter 11 and your creditors will likely see a higher return. In the end, it is in everyone's best interests for your business to make a turnaround. A negotiated business debt workout can enable you to work with your creditors to meet your common goal.
Whether you need knowledgeable legal counsel in business bankruptcy, asset protection or debt negotiation matters, please call our L.A. offices at (310) 584-7702 or toll free at (866) 572-2423.
Our firm can also assist you with any actual or potential business litigation arising out of a creditor dispute or business debt workout. You may e-mail us now with any questions or to request an appointment with an experienced business debt relief and workout negotiation lawyer.
