If your business relies on steady cash flow to survive, a Merchant Cash Advance (MCA) can feel like a lifeline until the daily debits start draining the account faster than revenue comes in. When the repayment structure destabilizes an otherwise profitable operation,...
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Chapter 11 Bankruptcy for Businesses
3 potential benefits of Chapter 11 bankruptcy for business owners
There are many different types of bankruptcy available to people in an assortment of different circumstances. Those who own and operate successful businesses may want to consider Chapter 11 bankruptcy. Chapter 11 bankruptcy involves the reorganization of a business or...
Who creates a Chapter 11 reorganization plan if a business files?
Some businesses file for Chapter 7 bankruptcy because they are past the point of no return and will need to liquidate debts as part of the process of dissolving the organization. Other businesses file for bankruptcy to regain control over the company's budget and keep...
What happens when a business files for Chapter 11 bankruptcy?
Just a few months ago, the U.S. economy was strong and growing. But then things took a drastic turn with so many businesses shutting down or scaling back operations to slow the spread of the coronavirus. Perhaps, now your business is on the brink of closing and you...
What are the primary benefits of Chapter 11 bankruptcy?
As a business owner, you’ll do whatever it takes to maintain a strong balance sheet. However, things can take a turn for the worse when you least expect it, thus leading you to learn more about Chapter 11 bankruptcy among other options. While it’s not something you...
Review your options for a Chapter 11 bankruptcy
If you're a South Florida business owner who is struggling to keep your company solvent and your doors open, it can be quite frustrating to juggle bills every month and never manage to pay them all. In fact, you might even worry whether you will be able to continue...
Will I have to liquidate assets under Chapter 11?
Small business owners with a lot of debt may decide to seek relief through a Chapter 11 bankruptcy. In some cases, it might be possible to continue operating your business during the pendency of your proceedings. Filing for Chapter 11 allows business owners to...
What is an ‘automatic stay’ in a Chapter 11 bankruptcy?
One benefit to debtors who file a Chapter 11 bankruptcy is the automatic stay. This procedure temporarily halts all collection activities, including repossessions, foreclosures and judgments. The automatic stay takes effect upon the filing of the bankruptcy petition...
How do I tell if filing for Chapter 11 bankruptcy is wise?
Depending on the type of business you operate here in Florida, your profits may be cyclical. Often, the profits made during the summer months at the height of the tourist season must carry the business through the leaner seasons. That can be a tough go for some owners...
Could your business be saved by filing for Chapter 11?
Being a small business owner has its perks, but it is not for the faint of heart. Especially in the first few years when there are operational costs that might exceed the revenue generated, it can feel like a losing proposition. That makes it challenging to know when...