Many great businesses go through hard times. A good company can find itself in a debt situation that has become unmanageable due to any number of factors.
It’s uncomfortable and disconcerting to receive angry calls from lenders, suppliers, contractors and other creditors at the very time your business needs support the most.
In a case such as the above, a restructuring of your debt could be the answer to your problems. Debt restructuring, which often takes the form of a Chapter 11 bankruptcy proceeding, is a procedure whereby a business owner and his/her attorney work together with creditors to come up with an arrangement in which the business pays its debts over a period of time (usually three to five years). This takes the pressure off of the business and turns an unmanageable situation into a manageable one.
Call us for more information on debt restructuring.