Businesses experiencing financial difficulties have long been permitted to seek the protection of Chapter 11 of the Bankruptcy Code to attempt to reorganize their debt. Unfortunately, as many of those businesses find out, a Chapter 11 restructuring normally proves to...
Business & Commercial Bankruptcy
Protecting Yourself When Your Sole Proprietorship Closes
Your small business represents the culmination of hard work, innovation, and your hopes for a bright future. Unfortunately, taking this risk to make it on your own can come with hiccups. In fact, many small business owners find themselves struggling with debt as part...
Utilizing Chapter 11 Bankruptcy to Save Your Small Business
If you are an owner of a small business, you understand the incredible work, the sacrifices, and the emotional investment involved in making your business successful. It is part of your American dream-something of your own that you hope will be part of your legacy....
Can I File for Personal & Business Bankruptcy Simultaneously?
Although we all know that dealing with money and numbers are supposed to be a logical, black and white process, sans emotion, few of us can act that way-whether we have lots of cash, or a dwindling supply. Financial success can lead us to feeling euphoric, while...
Retail Bankruptcies Hit All-Time High
Most shoppers enjoy a sense of comfort in knowing that when they go to a retail center they are likely to see some of the stores that have been there since they were kids. Stores such as Radio Shack or Payless ShoeSource are perfect examples. But today, if you are...
Bankruptcy Options for Small Business Owners
If your small business is struggling with debt, filing for bankruptcy might be a good choice. Small business owners have several options available to help eliminate debt. The best option is to consult an attorney to discuss all the alternatives available based on your...
Bankruptcy Options for Businesses
If you are a business owner who is drowning in debt, it may be time to consider filing a business bankruptcy. Depending upon the financial situation your company is facing, you may want to reorganize or liquidate the business.If you are a sole proprietor or you have a...
Considerations in a Business Chapter 7 Case
If you are a business owner struggling with debt, you should consider consulting with an experienced bankruptcy attorney to explore your debt relief options. The attorneys at Levitt & Slafkes can review your individual circumstances and help you understand the...
Drowning Under Business Debt? Consider Personal Bankruptcy!
Many entrepreneurs invest all of their time, energy and money into starting new business. While this "all in" approach is usually necessary in order to ensure the success of the company, it can also wreak havoc on your personal finances.Most small business owners...
Having survived the Great Recession, US companies continue to struggle
The so-called Great Recession had an adverse impact on millions of Americans. As banks failed and the stock market plummeted, U.S. companies of all sizes struggled to remain profitable. Many were forced to reduce their workforces and accrue debt. Today, economists...