If Black Friday sales failed to get your small business out of the red, you may have to seek further debt solutions like a Chapter 11 bankruptcy. While bankruptcy shouldn't be your first choice for a solution to your debt problem, it can be an effective way to...
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Chapter 11 Bankruptcy for Businesses
Who can file for Chapters 11 and 13 bankruptcies?
The first thing that debtors often ask their bankruptcy attorneys is what property they will be allowed to keep and what they will need to surrender. The property you are permitted to keep is known as "exempt" property. Chapter 11 and Chapter 13 bankruptcies are debt...
Benefitting from a Chapter 11 automatic stay
If you are a business owner in the state of Florida and you are struggling with overwhelming debts, you have many options available to you. Some of the most common problems that business owners have to deal with are cash flow issues and the way that the business is...
What can you expect at a Chapter 11 meeting of creditors?
You made the decision to file Chapter 11 bankruptcy for your business. You have gone through the process of filing your bankruptcy petition with the court. Now the U.S. trustee is sending you a notice of a Section 341 Meeting of Creditors. What exactly is this meeting...
Making your company more profitable while filing for bankruptcy
If you are struggling with unmanageable debts as a business in the state of Florida, it is likely that one of the primary reasons for this is because of an unhealthy cash flow. This has meant that the interest rates associated with debts have led to the situation...
Preparing your employees for a company bankruptcy
Deciding to file for bankruptcy is never an easy decision. Even if you know your company has been struggling mightily for some time, it can still be a heart-wrenching decision. Not only do you have to deal with the stress and emotions of the bankruptcy, you also have...
Charming Charlie emerges from Chapter 11
Last December, Charming Charlie filed for Chapter 11 bankruptcy protection. The reason given was to reduce the number of corporate employees and to close many stores that were considered "underperforming." As of April 24, the jewelry and accessories company has...
What does the IRS say about taxes and Chapter 11?
When approaching Chapter 11 bankruptcy, it is very important to consider the tax implications. Fortunately, the Internal Revenue Service (IRS) knows the challenges that businesses face, and it offers direct advice regarding this process. Below are a few common...
Iconic guitar maker seeks bankruptcy protection
The last few years have seen a number of retail stalwarts succumb to a changing economy. An increasing number of consumers are shopping online and passing up traditional brick and mortar establishments. This change has affected retailers across a number of industries,...
After discharge: What to expect when exiting Chapter 11
While in the midst of a Chapter 11 bankruptcy your primary focus should be on properly restructuring the business in order to reemerge as a profitable enterprise. The confirmation and acceptance of the reorganization plan may seem like the hard work is done and the...